Plan sponsors seriously disadvantage themselves and their plan participants by announcing the migration of their plan from one record-keeper to a new record-keeper before all the conditions for a smooth transition have been fulfilled.
There are record-keepers that know this and take full ...
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Public Employer Plans: Giving Employees Benefit Choices Can Lead To Problems
When our public agency clients negotiate with their collectively bargained employees, both sides strive to make the most of limited compensation and benefits dollars. Sometimes the parties believe they can create greater value by letting the employees choose between two employer-provided benefits. ...
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M&A Due Diligence: Retirement Plan Eligibility Mistakes That Can Surface in Transactions
As part of M&A due diligence we review for plan eligibility errors, one of the IRS's noted top 10 most common retirement plan errors submitted to its Voluntary Correction Program. According to the IRS, this mistake most often surfaces as a result of a merger or acquisition. In this episode of ...
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No Fooling: New Rules For An SBA-Guaranteed ESOP Loan Took Effect April 1
The changes that the Main Street Employee Ownership Act made to the Small Business Administration's lending rules for ESOP transactions are now in effect. The revised rule makes an SBA-guaranteed ESOP loan potentially more attractive for sellers who want to sell their companies to an ESOP but do ...
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COBRA: Don’t Pick It Up As Part Of Your Next Deal
"Who has to pay for COBRA coverage?" is a question we often hear from transaction lawyers and their clients in a stock sale or an asset sale. COBRA requires some employers to provide certain participants and their beneficiaries with group health plan coverage after certain events occur that would ...
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It Pays to Give Your Retirement Plan A Comprehensive Review
Employee Benefits Law Group often works on retirement plans that have been in place for years and we know that simply making sure a plan is up to date is not enough.
We look at a plan’s “foundational basis.” If the underlying plan design, tax assumptions and fiduciary structure—the plan's ...
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ESOP Succession Planning: Aren’t ESOPs Expensive?
For those considering ESOP succession planning, Kevin Long compares the cost of an ESOP with a conventional third-party sale, and how selling to an ESOP can actually cost much less.
Transcript:
As ESOP attorneys, we hear this question all the time. Aren't ESOPs expensive? Aren't they ...
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M&A Benefits Due Diligence In Phases Lets You Decide How Much Review Is Enough
During M&A benefits due diligence, the deal lawyers we work with appreciate having ERISA counsel with serious transaction experience on their side. We understand that deal cost and time have to be kept in check. Our phased approach to employee benefits diligence puts you and your client in ...
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M&A Benefits Due Diligence: Failure To File A Form 5500 Is An Expensive Problem To Acquire
In a merger or acquisition, late or never-filed Form 5500s can be an expensive benefits problem to acquire and a sign there may be other issues with the company's benefits plan. It's a potential problem we efficiently solve with M&A benefits due diligence.
In this podcast, Wendy Gilligan ...
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