Our team assists businesses of all sizes in complying with the technical requirements of the Internal Revenue Code (the Code) and the Employee Retirement Income Security Act of 1974 (ERISA). Businesses of all sizes — from sole proprietorships to partnerships, professional corporations, midsize companies, and large publicly-held corporations — rely on our timely and business-savvy advice. We team up with our clients to build the benefits and compensation packages that are best suited for each client’s employees and resources.
While advising clients we always keep in mind that while employee benefits programs are a source of enhanced employee satisfaction and productivity, they are also a significant expense for every business. We specialize in the design, implementation, and administration of various types of programs that fit our clients’ human resources needs. Our experience includes assisting clients with defined benefit plans, 401(k) plans, employee stock ownership plans (ESOPs), executive compensation plans, group health plans, and cafeteria plans. We also help clients with non-qualified deferred compensation arrangements, non-qualified and incentive stock option plans, stock purchase plans, severance arrangements, life and disability insurance programs, split-dollar arrangements, and other types of benefits for both executives and rank-and-file employees.
We draft plan and trust documents, provide guidance on the tax implications of various plans, help clients meet their fiduciary responsibilities, and address any governance issues. Our specialized expertise is often included in AGG’s multidisciplinary teams that advise companies on corporate mergers, acquisitions, and dispositions.
We routinely represent clients and their plans before the Internal Revenue Service (IRS) and the Department of Labor (DOL), obtaining determinations from those regulatory agencies and helping correct employee benefit plan deficiencies through IRS and DOL voluntary compliance programs. Our experience allows us to solve problems by proposing practical and innovative solutions that fit our clients’ internal procedures and needs while also satisfying the requirements of the relevant regulatory authority. In this connection, with respect to group health plans, a critical component of most employers’ benefit programs, we advise clients with respect to implementing and administering such plans, with the combined goal of protecting the client from unwanted liability and meeting their employee benefits needs. Other health- and welfare plan-related services include the negotiation of contracts with insurance companies and third-party administration firms, and compliance with applicable state and federal laws impacting such plans, including ERISA, the Affordable Care Act (ACA), the Consolidated Omnibus Budget Reconciliation Act (COBRA), the Health Insurance Portability and Accountability Act (HIPAA), and the Mental Health Parity Act.