Employee benefits and executive compensation is a complex mix of evolving tax and ERISA law. By understanding your business goals at the onset, we deliver innovative advice that furthers your company’s strategy, provides maximum flexibility, and attracts and retain exceptional talent.
Our Employee Benefits and Executive Compensation Practice Group will advise you on all aspects of your qualified retirement plans, non-qualified deferred compensation programs, equity and non-equity based plans, welfare benefit plans, plan administration, fiduciary responsibilities and tax planning. By distilling complex matters, we empower your board of directors, human resources personnel and plan fiduciaries to provide workable solutions.
Compliance and Administration
Our Employee Benefits and Executive Compensation lawyers help design benefit plans that meet your objectives and comply with ERISA, the Internal Revenue Code and other federal, state and regulatory requirements. We also provide advice on plan administration matters, including negotiating voluntary compliance initiatives with the Internal Revenue Service, the U.S. Department of the Treasury and the U.S. Department of Labor.
Sophisticated Plan Design
Our specialized knowledge in this substantive law makes us well-suited to handle the more sophisticated plan designs and related qualification and administration matters. Through our long-term experience with key taxing authorities, including the Internal Revenue Service, the Pension Benefit Guaranty Corporation (PBGC) and the U.S. Department of Labor's Employee Benefits Security Administration (EBSA), we are able to identify issues quickly and mitigate risk.
When problems arise we navigate plan corrections to achieve successful negotiation and resolution. We are experienced in highly technical application procedures for the IRS Employee Plans Compliance Resolution System and the Department of Labor Voluntary Fiduciary Correction Program.
From proactive avoidance to aggressive defense, we routinely handle all aspects of benefits litigation including executive compensation, severance, fiduciary breach, and reporting and disclosure claims as well as MPPAA arbitrations.
We regularly represent clients in the benefits aspects of corporate transactions and also act as special counsel in mergers and acquisitions, divestments and joint ventures. We design and negotiate comprehensive separation agreements and severance packages.
Our recent matters include representing:
Our recent matters include representing:
|Ben-Ami, Andrew R. Partner||Partner||212.216.8025|
|Steer, Richard L. Partner||Partner||212.216.8070|
|Toevs Carolan, Tara Counsel||Counsel||212.216.8007|
We represented the plan sponsor of a qualified retirement plan with over 3,000 plan participants in an IRS audit. The IRS was considering plan disqualification and seeking significant associated income tax penalties and interest.
Partner Stephen L. Ferszt has been elected to the American College of Trust and Estate Counsel (ACTEC) Employee Benefits in Estate Planning Committee for 2015-2016.
The Employee Benefits and Executive Compensation Practice was recognized in the 2014 U.S. News Best Lawyers. Best Lawyers is the oldest and most respected peer-review publication in the legal profession.
On June 11, 2014 the Advisory Committee on Tax Exempt and Government Entities (ACT), Chaired by Partner Stephen L. Ferszt, delivered a report to the Internal Revenue Service. Governed by the Federal Advisory Committee Act, Public Law 92-463, the ACT is an organized public forum for discussion of relevant employee plans, exempt organizations, tax-exempt bonds, and federal, state, local and Indian tribal government issues.
Stephen Ferszt and Lisa McIntyre were published in the Winter 2013 Journal of Pension Benefits. Their article is titled “Kennedy Progeny from the Third Circuit – Disputes Resulting from Beneficiary Designations and the Importance of Keeping them Current.”
Stephen L. Ferszt has been appointed to the Employee Benefits in Estate Planning Committee of the American College of Trust and Estate Counsel (ACTEC) ) for 2013-14.
Tarter Krinsky & Drogin Partner Stephen L. Ferszt has been elected Chairman of the IRS Advisory Committee on Tax Exempt and Government Entities (ACT) for 2013-2014.
Stephen L. Ferszt has been appointed by the IRS to the IRS Advisory Committee on Tax Exempt and Government Entities (ACT).
The Employee Benefits and Executive Compensation Practice was recognized as one of the top practices in New York City and nationally, in the 2013 edition of U.S. News Best Law Firms.
The Supreme Court unanimously decided that separate and apart from the selection of investment choices, a retirement plan fiduciary has a "continuing duty" to monitor investments and remove imprudent ones.
The Internal Revenue Service (IRS) recently announced that it will begin conducting focused audits aimed at determining compliance with Internal Revenue Code Section 409A. Section 409A is a complex and easily overlooked provision of the tax law which can result in draconian penalties. For this reason, we strongly recommend that our clients become familiar with the law, and review their existing documents now to avoid these penalties.
President Obama’s administration announced yesterday (Tuesday, July 2, 2013) that the “employer mandate,” or the imposition of penalties for employers with more than 50 employees who fail to provide health insurance as required by the Affordable Care Act, will be delayed until 2015. All other Affordable Care Act requirements and related compliance provisions will remain in effect.
This article addresses a topic which we all may face; how to avoid disputes that arise after death when beneficiary designation failures occur. The authors suggest best practices plan administrators and plan participants can take to minimize the likelihood of such failures.
Every year plan sponsors must ensure that their employee benefit plans meet compliance requirements as set forth by the Internal Revenue Service (IRS). With 2012 rapidly drawing to a close, this is the time for employers to conduct year-end reviews to ensure that all qualified retirement plans are up-to-date and operating in compliance with applicable law.