Employee Benefits
Kubasiak, Fylstra, Thorpe & Rotunno, P.C. represents publicly traded and privately held corporations, partnerships and limited liability companies in all aspects of employee benefits and executive compensation matters. Areas of experience include drafting plan documents; preparing communication materials; implementing executive compensation agreements; acquisitions, mergers and divestitures; welfare benefit issues and employer stock plans. The firm has extensive litigation experience with regard to the Employment Retirement Security Act of 1974 (ERISA) and related matters. The firm has been involved in one of the seminal ERISA cases in its field.
On the transactional side of employee benefits, the firm assists employers with drafting and amending qualified defined benefit and defined contribution plans, and medical and other welfare benefit plans, to comply with ERISA and the Internal Revenue Code (Code), and regulations and rulings issued under ERISA and the Code. The firm advises board of directors and benefit plan committees in resolving complex benefits matters. The firm prepares client communications, such as Summary Plan Descriptions and retirement statements, on behalf of employers. The firm assists employers in communicating to their employees the value and economic benefit of the plans.
The firm assists clients in establishing and maintaining Employee Stock Ownership Plans (ESOPs), which allow employees to see the direct impact of their efforts in growing the company. The firm also assists employers in expanding the amount of stock held by employees by establishing an Employee Stock Purchase Plan.
Retaining executives in both large and small companies often requires the provision of additional benefits beyond those provided to non-executive employees. The firm works with employers in providing additional benefits to executive level employees by establishing and maintaining non-qualified deferred compensation plans, and ensuring that such plans comply with the requirements of the Code. These plans can range from employment agreements, excess plans and top hat or supplemental executive retirement plans to equity compensation arrangements such as stock option plans. If desired, the firm helps establish vehicles to fund non-qualified deferred compensation plans.
Healthcare costs are a major expense and concern for every company and its employees. Another major issue is the cost of dependent care. The firm designs and implements plans through which clients' employees can pay for healthcare plan premiums on a before-tax basis, thereby increasing their take home pay. The firm also works with employers to establish healthcare reimbursement plans under which employee expenses may be paid on a pre-tax basis. The firm prepares dependent care reimbursement plans whereby childcare expenses can be paid for on a tax advantageous basis.
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