Pension Plans
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
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.
401(k) Plans
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.
Hybrid Plans
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.
Voluntary Compliance
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.
Plan Termination
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.