Employee Benefits and Executive Compensation
Years ago, employee benefits meant a paycheck and perhaps a simple pension. Today, the scope and variety of benefits programs is often far greater.
At Montgomery McCracken, we advise employers and providers on the multitude of retirement and 401(k) savings plans, executive deferred compensation arrangements, employee stock ownership and stock option plans (ESOPs), insured and self-insured health and welfare plans, flex benefit plans, and other fringe benefits available today.
We counsel our clients regarding:
- Compliance with the Employee Retirement Income Security Act (ERISA)
- The Internal Revenue Code and other applicable laws
- The design and redesign of their employee benefit plans
- The latest legal developments, benefits trends, and their ramifications
As the legal environment grows more and more complex, disputes inevitably arise. Our Employee Benefits and Executive Compensation Practice couples substantive employee benefits experience with hands on litigation experience. As a result, we represent our insured and self-insured clients in ERISA and employee benefits litigation, including ERISA fiduciary duty matters and benefits claims disputes. When necessary, we draw on the talents of many of our other attorneys in the related areas of tax, labor and employment, corporate, health, education and nonprofit, and litigation to assist the lawyers in the Employee Benefits and Executive Compensation Practice.
- Advising international and multinational corporations listed on United States Stock Exchange, as well as other publicly traded and privately owned companies, with respect to mergers and acquisitions including representation before the Pension Benefit Guaranty Corporation, the Internal Revenue Service, the U.S. Department of Labor, and the Immigration and Naturalization Service;
- Counseling human resource executives of major corporations throughout the Unites States on the day to day operation of employee benefit plans, legislative developments, regulatory changes, and employee communications regarding these issues;
- Successfully represented a heavy truck manufacturer, in an ERISA pension discrimination action brought by former employees who claimed that the company wrongfully refused to rehire them based on their previously earned pension credit under the company’s pension plan; had the company rehired the former employees, its unfunded pension liability would have soared; Montgomery McCracken obtained a complete victory before the U.S. Third Circuit Court of Appeals and created new ERISA law that job applicants do not have an ERISA protected right to future benefits;
- Successfully represented an investment management firm in ERISA litigation against the U.S. Department of Labor which alleged that the investment management firm had committed ERISA fiduciary violations and ERISA prohibited transactions based on the firm’s advice to the trustees of an employee stock ownership plan; Montgomery McCracken obtained a complete victory before the District Court on summary judgment;
- Representing insured and self-insured employers in ERISA Litigation where participants claimed pension, severance, disability, or health and welfare benefits;
- Advising employers in matters involving appropriate benefits claims procedures designed to avoid claims litigation, their employee benefit plans’ continued compliance with the changing regulatory environment, and on day-to-day pension and welfare plan administration; and
- Advising clients in corporate dissolutions, mergers, and reorganizations that involve plan mergers, transfer of plan assets, and multiemployer plan contributions and withdrawal liability.
We provide comprehensive, high-quality service tailored to meet the needs of each client. We use our practical legal and business experience to acquire a distinctive understanding of each client’s employee benefits goals and work closely with each client to accomplish those goals.
- Hershey Entertainment & Resort Company
- Mannington Mills, Inc.
- Alco Industries, Inc.
- Pocono Medical Center
- Meritor, Inc.
- LaSalle University
- Cabrini College
Important COBRA Changes in the American Rescue Plan Act of 2021
The American Rescue Plan Act of 2021 (“ARPA”), among other things, subsidizes COBRA health insurance premiums for laid off workers for the period beginning April 1, 2021 through September 30, […]
The DOL and IRS Issue Joint Rule Regarding Special Enrollment, COBRA, and Claims Review Deadlines
Published in the Federal Register on May 4, 2020, the Joint Rule provides for the extension of certain deadlines so plan participants, beneficiaries, and employers have additional time to make […]
CARES Act Provisions Impacting Retirement Plans
On Wednesday, March 25th, the Coronavirus Aid Relief and Economic Security Act (“CARES Act”) was passed by a unanimous Senate vote and today March 27th the House also voted on […]
New Guidance Issued by the Department of Labor and Internal Revenue Service for Employers Regarding FFCRA Paid Leave and Available Tax Credits
The U.S. Department of Labor (“DOL”) published two new resources on employee paid leave and employer requirements under the recently-passed Families First Coronavirus Response Act (“FFCRA”). Importantly, the DOL revealed […]