Employers of all kinds – public and private entities, governmental employers, and tax-exempt organizations – rely on Krieg DeVault for customized employee benefit and executive compensation solutions. We also frequently represent plan trustees, third-party administrators, and benefit consultants, including those involved with all types of retirement and welfare plans. Our lawyers include Certified Employee Benefits Specialists and former benefit consultants. We understand the legal and practical issues involved in complex benefit plans, from design and implementation to ongoing administration and plan audits, both internal and initiated by the Internal Revenue Service (IRS) or Department of Labor (DOL). We also work closely with employers to help them contain benefit costs, particularly as they relate to health care. Because we work with all types of employers and plans, we can spot potential problems in employee benefits and executive compensation programs and develop solutions. We strive to assist our employers in avoiding rather than correcting problems. We do this through due diligence during merger and acquisition activities, counseling clients on their fiduciary obligations, and helping to document processes. When a problem does arise, we have lawyers experienced in handling ERISA litigation and governmental audits and penalty assessments. Our compliance team works with employers to correct plan defects and administrative errors. Our lawyers also identify innovative techniques to meet the deferred incentive and equity-based compensation needs of business owners and executives.
Services
Tax-Qualified Retirement Plans
Design and implementation of plan and trust
Plan and trust documentation, including procedures and forms
IRS determination letter requests
Client updates on legislative and regulatory changes that affect plans
IRS, ERISA and state law compliance, self-audit and assistance in correcting plan document and operational failures
Controlled group or affiliated service group analysis
Advice on fiduciary issues including
Advice and correction of
Review of investment policy statements
Review and negotiation of service provider service agreements
Advice concerning the reasonableness of plan fees
DOL audit advice and assistance
DOL Voluntary Fiduciary Correction program assistance (VFC)
DOL Delinquent Filer Voluntary Correction program filings (DFVC)
IRS audit advice and assistance
IRS Employee Plans Compliance Resolution System program (EPCRS) filings
IRS Voluntary Compliance Program filings (VCP)
IRS Self-Correction of Operational Failures (SCP) assistance and documentation
Plan termination - assistance and government filings (IRS and PBGC)
DOL reporting and disclosure requirements compliance assistance
Form 5500 preparation and filing
Determination of partial plan termination and impact on plan
Freeze plans -
Mergers and spin-offs of plans
Assistance with benefits issues associated with mergers and acquisitions
ERISA litigation
Private letter ruling requests
Technical advice memorandum requests
Types of Plans
Defined Benefit Plans
Traditional
Cash balance
Hybrid
Retiree medical accounts (401(h))
Defined Contribution Plans
Profit sharing
401(k)
Employee Stock Ownership Plans (ESOP)
Combination 401(k)/ESOP (KSOP)
Cross-tested plans
Target
Money purchase
Multiemployer plans
Multiple employer plans
Church plans
Government plans
Taft-Hartley
Health & Welfare Plans
Plan documentation
ERISA and state law compliance issues
Controlled or affiliated service group analysis
Advice on fiduciary issues including
HIPAA privacy and security compliance
COBRA administration and compliance
DOL audit advice and assistance
Plan termination
DOL reporting and disclosure requirements
Form 5500 preparation and filing
Review and negotiation of service provider service agreements
Advice concerning the reasonableness of plan fees
Assistance with benefits issues associated with mergers and acquisitions
ERISA litigation
Advice on onsite medical facilities
Types of Plans
Self-funded and insured health plan arrangements
Section 125 cafeteria plans
Multiple Employer Welfare Arrangements (MEWAs)
Multiemployer (Taft-Hartley) plans
Church plans
Government plans
VEBAs and other funding arrangements
Life and disability plans
Retiree plans
Adoption assistance plans
Qualified transportation plans
Educational assistance plans
Wellness plans
ERISA Litigation
Federal and state trial and appellate court litigation
Litigation, arbitration and mediation services
Pre-suit claim resolution
Administrative proceedings
Representation of plaintiffs or defendants
Claims for benefits
Breaches of ERISA fiduciary duties
Reporting and disclosure violations
Collection of delinquent contributions
MEPPA withdrawal liability claims
Review of ERISA fiduciary liability insurance policies
Processing of notice of claim with liability insurer
Malpractice claims against plan service providers
Review of service provider contracts
Employee Stock Ownership Plans
Multi-Employer
Board of trustee representation
Compliance with all applicable federal and state laws
Attendance at trustee meetings
Collective contributions owed to fund
Collective MEPPA withdrawal liabilities on behalf of fund
Claims for benefits (during administrative, appeal and litigation stages)
Defense of breach of fiduciary duties allegations against plan fiduciaries
Subrogation against third parties
DOL/IRS audits or examinations
Correction of operational or document failures
Legal opinions
Development and documentation of administrative policies and procedures (QDROs, IPSs, RFPs, employer audits, etc.)
Types of Plans
Pension plans
Health & welfare plans
Tax Exempt and Governmental Plans
Design and implementation of plan
Plan documentation
Interpretation of statutes or other governing documents
Controlled or affiliated service group analysis
Advice on fiduciary issues including
Review of investment policy statements
Review and negotiation of service provider service agreements
IRS determination letter requests
IRS and state law compliance self-audit and assistance in correcting plan document and operational failures
IRS audit advice and assistance
IRS Employee Plans Compliance Resolution System program (EPCRS) filings
IRS Voluntary Compliance Program filings (VCP)
IRS Self-Correction of operational failures (SCP) assistance and documentation
Determination of partial plan termination and impact on plan
Freeze plans -
Mergers and spin-offs of plans
Assistance with benefits issues associated with mergers and acquisitions
Plan termination - assistance and government filings (IRS and PBGC)
Private letter ruling requests
Technical advice memorandum requests
Guidance on investment authority of appointed officials with respect to plans
Guidance and legal opinions on the responsibilities of appointed and elected officials with respect to employee benefits
Additional Services for Tax-Exempt Employers
Types of Plans
Defined Benefit Plans
Traditional
Cash balance
Hybrid
Retiree medical accounts (401(h))
Defined Contribution Plans
Profit sharing plans and 401(k) plans
Money purchase plans
Target plans
Retiree plans
Leave conversion plans
Internal Revenue Code Section 403(b) plans
IRC 457(b) and 457(f) plans
Multi-Employer plans
Multiple employer plans
Church plans
Governmental plans
Executive and Incentive Compensation
Equity-based plans
Industry-unique services
Not-for-profit entities
ESOP companies
Financial Institutions
Designing, drafting, amending and terminating plans and agreements
Negotiation of plans and agreements
Consulting
Plan design
Legal considerations
Income tax considerations
Tax reporting and withholding
Accounting considerations
Securities law considerations
Compliance
Code Section 162(m)
Code Section 280G
Code Section 409(p)
Code Section 409A
Code Section 457(f)
Code Section 457A
ERISA
Governmental Interaction
IRS audit response
Private letter rulings
Types of Plans and Agreements
Executive Agreements
Employment agreements
Severance agreements
Severance pay plans
Change in control agreements
Retention agreements
Golden parachute agreements
Perquisites and fringe benefits
Deferred Compensation Plans
Executive and director plans
SERPs
Excess benefit plans
Make-up benefit plans
Rabbi trusts
COLI/BOLI
Incentive Compensation Plans
Company-wide bonus plans
Long and short term incentive plans
Phantom stock plans
Stock Appreciation Right plans (SARs)
Restricted Stock Unit plans (RSUs)
Performance share plans
Equity-Based Plans
Employee Stock Purchase Plans (ESPPs)
Omnibus equity incentive plans
Stock option plans (ISOs and NSOs)
Restricted stock plans
Industry-Unique Services
Publicly-Traded Companies
Disclosure of executive compensation
Compensation committee consultation
Not-For-Profit Entities
Code Section 457(f) plans
Excess benefit transactions
Audit assistance
ESOP Companies
Code Section 409(p) consulting
Financial Institutions
TARP compliance
Legislative monitoring
Mergers and Acquisitions
Due diligence review of parties' employee benefit plans, including:
Identification of benefits issues to resolve pre-closing
Correction of operational and plan document issues
Advice and recommendations regarding plan design, amendment and termination
Drafting of plan amendments
Drafting of benefits-related provisions of letters of intent and acquisition documents
Drafting of buyer and seller covenants
Advice for integrating employees in surviving plans
Plan terminations
Review of nonqualified plan
Identification of COBRA obligations and liabilities
IRS and DOL reporting and disclosure requirements related to transaction
Corrections and Plan Failures
IRS, ERISA and state law compliance self-audit and assistance in correcting plan document and operational failures
IRS audit advice and assistance, including negotiating audit CAP sanctions with IRS
IRS Employee Plans Compliance Resolution System (EPCRS) filings
IRS Voluntary Compliance Program filings (VCP)
IRS Self-Correction of operational failures (SCP) assistance and documentation
DOL audit advice and assistance
DOL Voluntary Fiduciary Correction program assistance (VFC)
DOL Delinquent Filer Voluntary Correction program filings (DFVC)