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Tax & Employee Benefits

Employee Benefits & Executive Compensation

Our Employee Benefits lawyers handle a broad range of ERISA and employee benefits matters.

Our clients range from large, publicly traded companies to midcap and startup companies and tax-exempt and not-for-profit entities. In our frequent role as outside ERISA and employee benefits counsel, we advise on all aspects of plan qualification rules under the Internal Revenue Code, plan administration and compliance issues under ERISA and the Affordable Care Act (ACA), as well as COBRA compliance and HIPAA privacy requirements. We design and help our clients administer employee pension and welfare benefit plans and other compensatory arrangements. We guide plan sponsors and their boards of directors or trustees, as well as plan administrative and investment committees, through a wide range of fiduciary responsibility and liability issues under ERISA.

We also advise plan sponsors and plan administrative committees in participant claims for benefits in accordance with the Department of Labor (DOL) claims procedure regulations and actions filed under ERISA §502 in federal court, and have presented client education programs on a variety of issues.

We submit requests for the IRS for compliance statements and closing agreements under the IRS Employee Plans Compliance Resolution System, including component programs such as the Voluntary Correction Program.  We request and receive IRS private letter rulings and DOL advisory opinions, and maintain good relationships with IRS and DOL personnel. We also advise clients in dealing with the Pension Benefit Guaranty Corporation regarding its defined benefit pension plans.

We also bring practical business sense to bear on the compensation issues that arise in highly competitive markets. We counsel on executive retention, compensation and severance, change-in-control situations and golden parachute issues, deferred compensation, and the design and operation of incentive plans, equity-based plans and similar arrangements.

Representative Matters

International chemical company—Consolidation of legacy plans

Played an instrumental role in helping an international chemical company achieve its key objective of consolidating several of its “legacy” defined benefit pension plans into a single plan, resulting in administrative and cost efficiencies. In these spinoff and merger transactions, we helped establish a newly defined benefit pension plan into which two “legacy” defined benefit pension plans were merged and a spinoff population from a third “legacy” defined benefit pension plan were consolidated into a single plan. At the same time, the company consolidated trustee and investment management services and established a single master trust with a new trustee.

International container shipping company—Establishing ERISA plan fiduciary committee

Advised and assisted a large international container shipping company in establishing an ERISA plan fiduciary committee with oversight responsibility for the company sponsored 401(k) plan, including preparation of committee charter, appropriate board resolutions appointing the committee members, attendance at committee meetings, and the selection of an ERISA 3(21) investment consultant through a rigorous request for proposal process.

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Our Team
Insights Publication Magazine & Glasses
Publications|Alert
SEC Adopts New Executive Compensation Clawback Rules for Public Companies
Corporate Alert
1.25.2023
Insights Awards Top Stars
News|Recognition
Chambers Ranks 50 McCarter Lawyers and 16 Practice Areas for 2022
6.6.2022
Insights News Headline Stack
Publications|Article
March to the Beat of Your Own Drummer: Amazon’s Executive Compensation Practices
New York Law Journal/Harvard Law School Forum on Corporate Governance
5.10.2021
Insights Publication Magazine Stack
Publications|Article
Growth in CEO Pay Since 1990
CEO Pay Bulletin
9.12.2018
Insights News Headline Stack
News|Press
St. Joseph’s Nurses Get Initial OK For $42M ERISA Deal
Law360
10.6.2017
Insights News Headline Stack
News|Press
NJ Hospital, Nurses Reach Tentative Deal in ERISA Suit
Law360
6.8.2017
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The McCarter & English, LLP website is for informational purposes only. We do not provide legal advice on this website. We can provide legal advice only to our clients in specific inquiries that they address to us. If you are interested in becoming a client, please contact us, but do not send any information about your specific legal question. We cannot serve as your lawyers until we establish an attorney-client relationship, which can occur only after we follow procedures within our firm and after we agree to the terms of the representation.

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