Employee Benefits

Retirement Plans

The rules governing the operation of retirement plans are constantly changing and evolving, due to changes in federal law and employers’ business needs and goals. To assist our clients in understanding this changing environment, our team provides complete service and advice on the design, drafting, tax impact, implementation and ongoing management of all types of retirement plans, including 401(k), 403(b), defined benefit pension plans, ESOPs and church plans. We assist clients with plan amendments, mergers, administrator and recordkeeper changes, pension de-risking transactions and plan terminations. The members of our group have considerable experience representing employers and plan fiduciaries in audits by the Internal Revenue Service and Department of Labor.

Health and Welfare Plans

With the ever-increasing cost of health care, our clients continually look for ways to manage their budgets while also providing their employees with affordable and reliable health care coverage. We work with our clients to put together health and welfare programs that best suit their workforce and business objectives. We can provide comprehensive counseling on the design, drafting and operation of medical and dental plans and group-term life, retiree health, flexible benefit and fringe benefit plans, including structuring group health plan benefits to comply with the employer mandates under the Affordable Care Act. We also assist clients with HIPAA and ADA compliance for wellness programs and advise on the requirements under COBRA. From design to compliance, we can help with your health and welfare plans.

Executive Compensation

We assist our clients by providing advice on all aspects of the structure and taxation of nonqualified deferred compensation and executive compensation, including designing executive employment, severance and compensation programs that are compliant with the requirements of Section 409A of the Internal Revenue Code. Employers continue to use equity and phantom equity incentives to recruit and retain key employees, and our group of employee benefits attorneys are experts in the tax rules governing these compensation programs. From advising on the structure of bonus and incentive plans and benefits, to “golden parachute” arrangements and stock option plans, our attorneys bring a wealth of experience to the table

Fiduciary Issues/ERISA Litigation

Fiduciary litigation initiated by participants alleging breaches of fiduciary duty by plan administrators and employers continues to evolve. The complaints allege a variety of issues, including the failure of a fiduciary to properly monitor the investment funds offered under a plan and the reasonableness of fees charged to plan participants by the outside providers. We work with our clients to help them understand their fiduciary obligations under ERISA and how best to establish procedures and processes that satisfy their obligations.

Corporate Transactions

Corporate transactions, no matter the size or structure, can present various employee benefits issues, both before and after the completion of the transaction. We have significant experience recognizing and addressing these issues for our clients, so you can focus on the transaction itself. Among other services, we advise on employee benefits issues in connection with mergers, acquisitions and reorganizations, analyze legal obligations with respect to employee benefit plans, negotiate and draft the components of purchase and sale agreements, assess potential liabilities in connection with corporate transactions and advise on any necessary plan restructurings and post-closing integration.

ESOPs

The Quarles Employee Benefits team can provide you with a team of attorneys who have decades of ESOP experience in both in-house and private practice. We pride ourselves on balancing our technical legal knowledge with a focus on understanding your operational considerations in administering ESOPs. Through the professional relationships our team has cultivated in the ESOP community, Quarles can connect you with a network of specialists to guide you through every phase of the ESOP lifecycle — from its formation and early years, through maturity and potential sale of the company to a strategic or financial buyer. And while we are focused on guiding you through the many positives of employee ownership, our broad experience also helps us protect you in the face of regulatory challenges and in employer stock litigation, when the need arises. Our diverse backgrounds give you an added level of creativity when defending against allegations by the Department of Labor, the Internal Revenue Service and private plaintiffs’ counsel.

Multiemployer Plans

Multiemployer plans present unique issues from both a legal and a business perspective. Employers that participate in these plans must balance their own business needs against the requirements imposed upon them by the plans and the corresponding collective bargaining agreements. Our attorneys have a range of experience advising clients on multiemployer plans, including representing employers in withdrawal liability disputes and with respect to audits of contributions, and defending clients in suits brought by these plans. We counsel on various issues, including advising on complete and partial withdrawal liability issues arising in connection with corporate transactions, workforce reductions, facility moves, shutdowns and conversion from union to nonunion status.