Greensfelder’s services to qualified plans predate the enactment of ERISA. Our practice includes all varieties of plans, including 401(k) plans, defined benefit plans, and hybrid plans such as cash balance plans and target benefit plans. Our clients range from small employers with only a few employees to companies with 100,000+ employees. We offer cost-effective prototype documents, where appropriate, to small plans. For larger companies, we draft individually designed plans to meet the companies’ complex needs.
Qualified pension plans come in all varieties and forms. Our Practice Group attorneys have drafted defined benefit pension plans with a variety of creative formulas. We have drafted numerous money purchase pension plans and have provided the in-depth counseling regarding the interpretation of these plans with respect to benefit claims. Additionally, we are well versed in all facets of the tax and ERISA regulations governing these plans.
Profit-sharing plans are less restricted by the tax and ERISA provisions of the law. Accordingly, Greensfelder employee benefit attorneys have used a number of formulas and devices to accomplish the goals of the sponsoring employer. These goals may include the use of profit-sharing plans for the purpose of motivating employees, providing a retirement benefit, binding employees into the profit motive of the corporation, or all of the above.
Since 1982, Greensfelder attorneys have worked on hundreds of 401(k) plans. We have utilized the Internal Revenue Code safe harbor provisions, have applied the definitions of highly compensated in creative ways, and have handled the full range of work associated with 401(k) plans from design drafting and employee communications. We understand the technicalities of the testing rules and have counseled many clients on their application.
The changing demographics of the work place necessarily demands creativity. To that end, Greensfelder attorneys have worked on cash balance plans, pension equity plans, target benefit plans and 414(k) plans for solutions.
Inevitably, given the broad and complicated statutory and regulatory structure, plans run into compliance problems. We have advised numerous clients on the advisability of seeking voluntary compliance through the Internal Revenue Service and Department of Labor public procedures. To that end, we have handled voluntary compliance submissions with significant success. In fact, we have established our Firm with the reviewing agents responsible for voluntary compliance plan administration.
The decision to terminate a qualified plan involves several complicated rules. Our Employee Benefits Practice Group has assisted in that process and understand the rules regarding termination of a plan. Once that decision is made, compliance with statutory and regulatory requirements is imperative. Our attorneys have worked with the PBGC, the Internal Revenue Service and the Department of Labor in connection with numerous plan terminations.
View the other practice areas of Greensfelder Law Firm.
Attorneys / Qualified Plans