Bradley Arant works with our clients not only to ensure legal compliance for employee benefit plans, but also to design and modify benefit packages to meet their needs and those of their employees. We recognize that employees increasingly focus on benefits offered by their employer in evaluating career decisions. At the same time, as an employer we understand the financial and administrative commitment required to provide these benefits.
We advise public, private and tax-exempt clients on issues related to the planning, design, implementation, administration and termination of all forms of employee benefit plans and executive compensation programs. Our practice includes compliance with ERISA, the Internal Revenue Code, HIPAA, COBRA and other laws and regulations affecting employee benefits. We routinely work with clients in the employee benefits and executive compensation area in connection with mergers and acquisitions. We regularly represent clients in ERISA and other employee benefit related litigation. We also advise clients with respect to employee benefit issues arising as a result of employee terminations.
QUALIFIED RETIREMENT PLANS
We regularly advise clients with respect to qualified retirement plans such as defined benefit pension plans, 401(k) plans, cash balance plans and ESOPs. We consult with our clients on plan design issues, draft plan documents and summary plan descriptions, and obtain Internal Revenue Service determination letters where appropriate. We assist clients in administering their plans, including advice with respect to reporting and disclosure obligations, correction of operational defects, plan interpretation and review of domestic relations orders. We routinely negotiate with the Internal Revenue Service and the Department of Labor with respect to issues arising under the retirement plans of clients. We regularly work with clients to ensure compliance with the fiduciary duty aspects of retirement plans. We also assist clients in searches for third-party providers of recordkeeping and investment services for retirement plans.
NONQUALIFIED PLANS AND EXECUTIVE COMPENSATION
We have worked with clients in all aspects of executive compensation and nonqualified retirement plans, including the design and drafting of plans and funding vehicles available through “rabbi” trust and insurance or other arrangements. We regularly assist with the implementation and administration of stock option plans and other incentive compensation arrangements. We advise Compensation Committees in all aspects of executive compensation, including compliance with the Sarbanes-Oxley Act. We are regularly engaged to analyze and address issues arising under Sections 162(m) and 280G of the Internal Revenue Code.
WELFARE BENEFITS
Our employee benefits practice assists clients with health, life, disability and other plans, cafeteria plans, VEBAs, education assistance programs, adoption assistance programs and other fringe benefits. We routinely advise clients with respect to agreements with insurance carriers and third-party administrators of self-insured benefit plans. We also provide assistance in complying with the COBRA coverage continuation rules for group health plans.
HIPAA
We have advised a number of large employers in connection with the compliance obligations under HIPAA for employers, group health plans and medical reimbursement accounts. We have conducted HIPAA training for privacy officers and human resources employees. We designed and drafted policies, procedures and plan amendments necessary for our clients to comply with HIPAA. We routinely advise clients with respect to issues arising under HIPAA.
REPRESENTATIVE EMPLOYEE BENEFITS MATTERS
—Representation of Vulcan Materials Company, Gulf States Paper Corporation, EBSCO Industries, Energen Corporation, The Children's Hospital of Alabama , and other large employers in all aspects of employee benefits.
—Representation of Coca-Cola Bottling Company United, Inc., Eastern Health System, Stockham Values and Fittings, Inc., and other large employers in connection with termination, freeze or benefit reductions in defined benefit pension plans.
—Representation of public companies in the conversion of 401(k) plans to ESOPs to qualify for tax deductions on dividends paid on employer stock.
—Representation of employers in connection with the amendment or termination of executive split-dollar life insurance to comply with new IRS regulations and the Sarbanes-Oxley Act.
—Representation of employers in connection with the amendment or termination of executive split-dollar life insurance to comply with new IRS regulations and the Sarbanes-Oxley Act.
—Representation of a managed care company in a nationwide class action challenging financial incentives for providers under ERISA, RICO and state law.
—Representation of one of the nation's largest banks against claims brought by the Department of Labor seeking over $150 million on behalf of a retirement plan.
