For the entire spectrum of retirement plan types—such as defined contribution, defined benefit, cash balance, profit-sharing, 401(k), 457, and 403(b) plans—Epstein Becker Green provides ongoing counseling to domestic and multinational employers across many industries regarding all aspects of plan design and operation, including compliance with the statutory requirements of the Employee Retirement Income Security Act ("ERISA"), the Internal Revenue Code, and other federal and state legislation and regulatory requirements. We recommend and design retirement plans that are tailored to our clients' business objectives. The core of our counseling includes the following:
- Designing, drafting, and reviewing plan documents, as well as preparing amendments and restatements
- Drafting and reviewing summary plan descriptions, summaries of material modifications, trust and other funding agreements, and administrative service agreements
- Preparing Internal Revenue Service ("IRS") filings, including determination letter applications and private letter rulings
- Representing clients in audits and other interactions with the IRS, U.S. Department of Labor ("DOL"), and Pension Benefit Guaranty Corporation
- Designing and implementing early retirement incentive programs
- Reviewing qualified domestic relations orders
- Analyzing the impact of workforce reductions, plant closings, and corporate transactions on retirement plans
- Formulating and reviewing participant communications and notices
- Advising retirement plan fiduciaries of their obligations under ERISA, the Internal Revenue Code, and state law, and recommending best practices to limit fiduciary exposure
- Advising on the tax treatment of plan contributions, funding, and distributions
Our Employee Benefits attorneys are also extremely knowledgeable about correcting plan-qualification, fiduciary, and Form 5500 (annual report) filing defects under the IRS's Employee Plans Compliance Resolution System, as well as the DOL's Voluntary Fiduciary Correction Program and its Delinquent Filer Voluntary Compliance. When plan errors arise, Epstein Becker Green represents clients before the IRS and DOL in connection with these correction programs.
In addition, we closely monitor federal and state employee benefits laws, as well as IRS decisions and trends, to keep our clients updated on issues that may impact their retirement plans.