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EMPLOYEE BENEFITS AND EXECUTIVE COMPENSATION
Employee Benefits and ERISA
Underwood, Perkins & Ralston’s Employee Benefits and Executive Compensation section represents businesses and individuals in a variety of employee benefit matters. Our practice includes the evaluation, planning, creation, implementation and review of qualified retirement plans, ESOPs, and Section 125 Cafeteria or Flexible Spending Account Plans, as well as nonqualified deferred compensation arrangements. Our attorneys are experienced in representing clients dealing with the IRS, the U.S. Department of Labor and the Pension Benefit Guaranty Corporation. Underwood, Perkins & Ralston works with its clients to develop creative, yet practical, programs to provide retirement and other benefits.
Qualified Retirement Plans
Underwood, Perkins & Ralston designs and establishes qualified retirement plans, including 401(k) plans, profit sharing plans, money purchase pension plans, target benefit pension plans and defined benefit pension plans. Our attorneys work with clients, and in conjunction with other financial advisors, to create qualified retirement plans that satisfy the retirement planning goals of its clients in the following areas:
- Defined Contribution Plans, including New Comparability Profit Sharing Plans, 401(k) Plans, Safe Harbor 401(k) Plans, Automatic Deferral 401(k) Plans and Money Purchase Pension Plans,
- Defined Benefit Pension Plans,
- 403(b) Plans,
- 457 Plans,
- Submitting qualified retirement plan documents to the IRS to obtain individual determination letter approving the form of the plan document,
- Preparing Voluntary Compliance Program (“VCP”) applications and presenting to IRS to resolve operational and document errors,
- Preparing Delinquent Filer Voluntary Compliance (“DFVC”) applications on behalf of clients to correct the failure to file IRS Annual Reports (IRS Form 5500) and presenting to IRS and Department of Labor,
- Individually-designed plans to provide new comparability and age-weighted allocations in profit sharing and 401(k) plans to maximize benefits to key employees,
- Preparing Summary Plan Description (“SPD”) and other communications for distribution to participants in qualified retirement plans,
- Advising trustees and other fiduciaries of qualified retirement plans as to duties and responsibilities under fiduciary standards of ERISA, and
- Preparing responses to audits of qualified retirement plans by IRS, U.S. Department of Labor and other regulatory agencies.
Employee Stock Ownership Plans (ESOPs)
Our attorneys serve clients in the following matters:
- Consultation in the design and implementation of ESOP
- Prepare the plan documents and any related documentation to establish the ESOP
- Coordination of annual valuation of company stock held in ESOP
- Assist in the design of the associated lending transaction to permit sale of company stock to the ESOP
Nonqualified Deferred Compensation Arrangements
Our attorneys are experienced in drafting many types of arrangements, including stock bonus plans, supplemental executive retirement plans (SERP), top-hat plans and excess benefit plans. We can also assist clients by:
- Designing nonqualified deferred compensation arrangements and other executive benefit programs to benefit owners and other key employees, and
- Preparing documentation to support establishment of nonqualified deferred compensation arrangement in accordance with current IRS requirements.
Section 125 Plans
Underwood, Perkins & Ralston’s attorneys also counsel client regarding the following plans:
- Section 125 Cafeteria or Flexible Spending Account Plans
- Medical Savings Accounts
- Dependant Care Plans
- Premium Only Plan (POP)
- Employee Assistance Plans
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| 5420 LBJ Freeway, Two Lincoln Center, Suite 1900 • Dallas, Texas 75240 Phone 972.661.5114 • Fax 972.661.5691
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| © 2008 Underwood, Perkins & Ralston, P.C. |
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