ERISA and Employee Benefits

Cohen & Grigsby’s ERISA and Employee Benefits Practice represents employers, administrators, plan fiduciaries, investment advisors and other service providers in matters arising under the Employee Retirement Income Security Act, the Health Insurance Portability and Accountability Act and various employee benefit issues.  Despite labor market fluctuations, employers’ competition to attract and retain the best and the brightest talent remains constant, and employee benefit programs are significant driving factors in recruiting efforts.  Our attorneys assist employers and various others in the employee benefits industry with not only competing for talented labor but also complying with employee benefit-related regulations.  

• ERISA and Employee Benefits Compliance
• Qualified Plan Compliance
• Nonqualified Plan Compliance (IRC Sec. 409A)
• Fiduciary Standards of Care
• Investment Policy Statements
• Planning Services - Distribution of Plan Assets
• Retirement and Tax Planning
• Health Plan Administration including:  FSA, HSA, HRA, COBRA & HIPAA Compliance

Our Group also counsels clients on a wide range of aspects which may arise in the event of ERISA-related disputes.  We also counsel clients on how to avoid litigation in connection with the restructuring of plans, counsel ERISA fiduciaries with regard to the propriety of investing activities, and advise plan sponsors regarding the propriety and legal effects of terminating welfare benefit plans. 

Qualified Plan Compliance
We assist clients in navigating the complex qualification and compliance rules of the Internal Revenue Code in designing, administering, and terminating qualified retirement plans such as defined benefit pension plans, profit sharing plans, 401(k) plans, money purchase plans, stock bonus plans and Employee Stock Ownership Plans.  

Nonqualified Plan Compliance (IRC Sec. 409A)
We design and provide advice regarding all types of nonqualified retirement plans, including deferred compensation plans and supplemental executive retirement plans.   

Fiduciary Standards of Care
We advise clients regarding fiduciary responsibility for plan decisions, including plan investments.  We regularly provide opinions and advice on ERISA fiduciary duty and fiduciary liability issues and ERISA prohibited transactions. We also frequently provide outside counsel opinions as part of the ERISA claims review procedures for both retirement plans and welfare benefit plans.  

Investment Policy Statements
We negotiate and draft agreements for plan investments, including investment management agreements, investment policy statements, custodial agreements, insurance company annuity contracts, limited partnership agreements, third-party administration contracts and various other plan investment arrangements. We also conduct fiduciary audits to ensure compliance.  

Planning Services – Distribution of Plan Assets
The Group’s attorneys serve as trustees, plan administrators or independent fiduciaries in plan terminations and other special ERISA plan situations.  They help manage plan assets and oversee the operation of ongoing plans, including distribution of plan assets following the sale or dissolution of the plan sponsor.  

Retirement and Tax Planning
Cohen & Grigsby counsels employers, plan sponsors and other interested parties in designing and implementing qualified retirement plans and conducting audits to ensure compliance with IRS standards.  We also assist participating employers in planning and operating pension plans to ensure funding while minimizing costs and potential excise taxes. Additionally, we assist individuals in minimizing their federal income and estate tax liabilities by advising them regarding qualified retirement plan and individual retirement account withdrawals and beneficiary designations and other employee benefits, including deferred compensation plans and stock options.  

• Flexible Spending Accounts (FSAs)
• Health Savings Accounts (HSAs)
• Health Reimbursement Arrangements (HRAs)
• Welfare benefit planning, including severance plans, cafeteria plans, and health care involving issues related to the Consolidated Omnibus Budget Reconciliation Act (COBRA), Health Insurance Portability and Accountability Act (HIPAA), and the Family Medical Leave Act (FMLA)