Employee Benefits and ERISA

Employers continue to face ever-increasing competition and financial pressures in today’s evolving business environment. Cost-effective benefits and compensation programs are necessary to attract and retain talented employees and executives and remain competitive, but these programs are highly regulated by the IRS, Department of Labor, and, in some cases, the Pension Benefit Guaranty Corporation (PBGC), as well as other governmental agencies. There also exists a seemingly unending flow of legislative and regulatory changes impacting these programs.

Dawda Mann has considerable experience in all aspect of employee benefits, including the design, implementation, administration and regulatory compliance of all employee benefit programs for both for-profit and not-for-profit businesses. We regularly work with clients’ accountants, insurance vendors, third party administrators, investment advisors, human resources personnel and executives to ensure that our clients’ benefit programs are in compliance and fit their needs and goals.

RETIREMENT PLANS

• Defined contribution plans, such as 401(k) plans, money purchase pension plans and employee stock ownership plans
• Traditional defined benefit plans
• Collectively bargained plans
• Tax-sheltered annuity (TSA) plans for tax-exempt employers
• 457 plans for government and tax-exempt employers
• SIMPLE IRAs and Simplified Employee Pension Plans

BUSINESS TRANSACTIONS

• Employee benefits due diligence in mergers, stock or asset sales and other corporate transactions
• Assisting on benefits transition issues relating to merger or sale
• Government Audits and Other Proceedings
• Assisting clients in IRS, Department of Labor and PBGC audits and inquiries
• Assisting clients in corrections procedures for plan administrative and/or plan documentation errors, and filing with government agencies under IRS or Department of Labor Voluntary Correction Programs

PLAN DOCUMENTATION AND ADMINISTRATION

• Preparation of plan documents to comply with legal requirements
• Preparation of summary plan description, summaries of material changes, employee notifications and communications, including open enrollment materials, election forms, tax notices, employee letters and summary explanation of other benefit events
• Preparation of IRS filings for favorable ruling letters on qualified retirement plans
• Advising on annual government reporting requirements and employee notice requirements
• Assisting in plan termination matters, including required corporate and plan documentation, IRS, Department of Labor and PBGC filing documents and requirements, including distress termination filings of traditional pension plans and plan termination administration