Employee Compensation & Benefits
Nexsen Pruet's practice in the employee benefits area focuses on all forms of welfare and pension benefits. The firm provides a wide spectrum of services to sponsors of qualified retirement plans, including ESOPs, which services include the design and implementation of plans, the ongoing administration of plans, the compliance with plan reporting and disclosure requirements, the correction of qualification defects through various IRS approved correction methodologies, the correction and reporting of prohibited transactions, and the analysis of the various fiduciary responsibilities associated with the plans. In addition, the firm has extensive experience in the design, implementation and administration of nonqualified deferred compensation plans, stock option plans and other incentive compensation plans.
In addition to retirement plan issues, the firm's practice includes all aspects of the design, implementation and administration of all forms of welfare benefit plans, including both fully insured and self-insured plans. The firm routinely provides legal counsel to clients in matters pertaining to both HIPAA and COBRA compliance. The firm also handles ERISA litigation matters involving the various forms of pension and welfare benefit plans. The firm works with various regulatory agencies with responsibility for various employee benefits including the Internal Revenue Service, the United States Department of Labor and the Pension Benefit Guaranty Corporation.
The firm's clients in the employee benefits area include a full range of clients from sole proprietorships to major employers with over 10,000 employees. The firm's employee benefit practice represents all forms of businesses including corporations, partnerships, LLCs and sole proprietorships, as well as a significant number of governmental and tax-exempt employers such as hospitals, universities, charities and miscellaneous tax-exempt entities such as credit unions.