Employee Benefits
Employee Benefits
Our seasoned team offers the broad spectrum of legal experience needed to provide comprehensive advice to benefit plans, plan sponsors, fiduciaries and service providers. We leverage this depth and diversity to help clients to develop creative and practical solutions to a wide variety of complex employee benefits matters, including qualified retirement plans, employee benefits in mergers and acquisitions, executive and equity compensation, fiduciary responsibility, and health and welfare plans.
We understand that employee benefits and compensation issues can be complicated and costly for you. In advising clients, we draw on our vast experience as well as that of attorneys from other relevant disciplines within our firm, including tax counsel and corporate counsel, to help clients resolve these issues effectively and efficiently.
Experience
In addition to providing counsel for ERISA, tax, labor, and securities laws, we are conversant with all aspects of the design and administration of retirement plans (including 401(k)s and ESOPs), cafeteria plans, health benefit plans (including cost containment issues), employment agreements, early retirement incentive programs, change-in-control counseling, and the legal aspects of investment of plan assets. In particular, we deal with:
- Retirement plans. This area includes 401(k) plans, pension plans, profit-sharing plans, 403(b) plans and 457(b) plans, including religious and governmental plans. We advise on plan design, draft plan documents, assist with investment manager and service provider contracts, consult on plan administration and nondiscrimination testing, obtain determination letters from the Internal Revenue Service (IRS), correct errors under the IRS Employee Plans Compliance Resolution System, monitor changing laws and regulations, assist with qualified domestic relations orders (QDROs), and represent clients in IRS and Department of Labor audits.
- Fiduciary responsibility and liability. We counsel clients, both public and private, on the responsibility and liability under state and federal law associated with their roles as fiduciaries with respect to employee benefit plans. We provide counseling regarding prohibited transactions, fiduciary training, procedures for decision-making, and investment policies.
- M&A and restructuring transactions. In mergers, sales, or acquisitions of businesses, we offer "diligence" review of employee benefit matters and participation in negotiating and drafting the agreement between the parties. We advise clients throughout the transition period associated with any merger, sale, or acquisition.
- Executive and equity compensation. We advise clients in matters involving various compensation programs, including stock option, stock purchase and phantom stock plans, other equity incentive programs, deferred compensation arrangements, supplemental retirement and excess benefit plans, plans for outside directors, and other prerequisites. We prepare employment agreements and severance agreements, and assist in establishing trusts used to fund payments under any such agreement. We also advise clients regarding change in control issues involving golden parachutes.
- Health and welfare plans. We assist clients with health care plans, group insurance (such as life and disability insurance plans), cafeteria plans, severance pay plans, post-retirement insurance programs, and the mechanisms for funding any of these. We also advise clients on Affordable Care Act, COBRA continuation coverage, Family and Medical Leave Act (FMLA) and Health Insurance Portability and Accountability Act (HIPAA) compliance.
- Health care. We advise clients on PPOs, employer-sponsored provider networks, managed-care arrangements, and other responses to rising health care costs.
- Tax and estate planning. In conjunction with our Estate Planning and Tax groups, we advise individuals on how to deal with beneficiary designations, benefit distributions, IRA rollovers, income and estate tax elections, and the related planning opportunities.
- Benefit claims and litigation. We have diverse experience in advising clients regarding claims made against employee benefit plans. We also offer litigation and arbitration experience in matters involving claims disputes and fiduciary liability.
- Employment tax audits. We routinely represent clients in IRS employment tax audits, and regularly advise clients on employment tax compliance, including advising public sector employers on Social Security coverage issues.
- Public plans. Our team has extensive experience advising public sector clients regarding employee benefits. We advise numerous public pension funds and agencies in California, from very large defined-benefit and defined contribution systems to smaller systems, on tax and benefits matters. In addition, we regularly advise our public sector clients on issues related to their health and welfare plans.
Key Contacts
News & Resources
Southern California Wildfires: Employers Should Be Aware of Potential Financial Resources for Employees
Employers whose employees have been affected by the Southern California Wildfires should be aware of financial resources that can be available from the employer and employer-sponsored plans and programs to assist during a disaster.
Affordable Care Act Reporting Changes – Some Good News for Employers
Two new laws make welcome changes to Affordable Care Act reporting and penalty rules for 2025.
A Holiday Gift from the IRS: New IRS Form for Section 83(b) Elections
The IRS introduced Form 15620 to standardize the filing of Section 83(b) elections and streamline tax compliance for founders, early-stage employees, and other individuals navigating certain types of award grants subject to vesting.
IRS Issues 2025 Limits for Retirement Plans
The IRS announced updated cost-of-living adjustments to the tax-qualified retirement plan dollar limits for 2025.
2024 Mid-Year Fiduciary Update - Public Sector Employers
2024 Employee Benefits Webinar
2024 Employee Benefits webinar took place on Tuesday, February 6, 2024. The presentation slides and full videos from the public and private sector sessions are available below.
IRS Issues Guidance on Required Inclusion of Long-Term, Part-Time Employees in 401(k) Plans, Including Application to Governmental Plans
New IRS proposed regulations answer questions relating to the rules for inclusion of long-term, part-time employees in 401(k) plans. The proposed regulations would apply these rules to ERISA-exempt governmental and church plans, but comments on that issue were requested.
IRS Issues 2024 Limits for Retirement Plans
The IRS Announces a Moderate Increase to Retirement Plan Dollar Limits in 2024
IRS Lowers ACA Affordability Percentage for 2024
IRS lowers the threshold for affordable employer coverage under the Affordable Care Act for 2024 prompting employers to re-evaluate their health plan contributions.
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