We consult and draft plan documents and employee materials for a wide range of these plans. We pride ourselves in translating complex government rules into understandable language. Mistakes in plan operations inevitably happen, even in the most conscientious human resource and payroll departments. When they do, we help clients to fix them. We are experts in the Correction Procedures of the US Department of Labor and the Internal Revenue Service. (Fiduciary advice is also a substantial part of the practice and is described separately.)
Representative Engagements include:
Preparation of custom-drafted 401(k) plan and employee communication materials for NYSE-listed company with 2,000 employees.
Preparation of custom 403(b) plan and SPD for well-known college integrating the financial terms and restrictions of TIAA-CREF products and Fidelity mutual fund and brokerage products.
Legal advice to prominent tax-exempt foundations for the special limitations and exceptions applicable under IRC §403(b) and under IRC §415.
Preparation of custom-drafted 401(k) plan for NYSE-listed company with 8,000 employees in which employer stock was a component.
Consultation and oversight for adoption of model 403(b) documents of financial vendor for use by tax-exempt hospital with 2,000 employees.
Legal review of NYSE-listed company’s adoption of prototype 401(k) plan for 12,000 employees. Custom preparation of plain-English SPD because vendor’s SPD was not user-friendly.
Consultation for and drafting of 401(k) plan and SPD for Puerto Rico subsidiary of NYSE-listed company.
Representation before IRS and DOL under their correction processes for numerous errors, including late adoption of required amendments, misallocation of contributions, failure to enroll participants on a timely basis, and use of incorrect compensation definitions.
Consultation for and drafting of 401(k) plan and SPD for 700 person medical group.