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Practices + Industries

Employee Benefits and ERISA

Overview

Turner Padget’s Employee Benefits Practice encompasses involvement with all types of welfare and pension benefits issues.  The firm’s services in the area of qualified retirement plans include plan design and implementation, plan administration, monitoring plan compliance with reporting and disclosure requirements, and remediation of plan qualification defects through the Internal Revenue Service voluntary correction program.  Our attorneys have extensive experience with various types of qualified plans including 401(k) plans, profit sharing plans, money purchase plans, 403(b) plans, and ESOP plans, including the financing and business succession planning opportunities associated with implementing a leveraged ESOP.

Our lawyers also have experience in the design and implementation of non-qualified deferred compensation plans and monitoring such plans’ compliance with the requirements of Section 409A.  In addition, the firm’s employment lawyers routinely counsel clients in HIPAA and COBRA compliance matters, as well as involvement with ERISA litigation matters involving both pension and welfare benefit plan issues.

Representative Engagements

  • Designed an Employee Stock Ownership Plan that allowed owners of a highly successful closely held corporation to diversify their net worth by selling a portion of their shares in the corporation to the ESOP in a tax deferred transaction financed by a brokerage firm, thus allowing the owners to purchase a portfolio of investment securities.