Employee Benefits & Executive Compensation
As today's workforce grows increasingly diverse and mobile, employers are faced with greater international competition and a heightened regulatory environment. Under these conditions, choices regarding employee benefits and executive compensation plans can have significant short- and long-term consequences.
From the employee's perspective, benefits are often as important as wages in deciding whether to work for or stay with a company. From the employer's perspective, benefit plans and compensation packages are crucial to attracting and retaining top-quality employees, and are a major component of the cost of doing business. For closely held businesses, benefit structure is also an element of financial and succession planning. Furthermore, employers that sponsor and administer plans, as well as trustees of multiemployer plans, need to fully understand their fiduciary duties.
For all these reasons, advice on the optimal design and implementation of compensation packages and benefit plans pays dividends to all parties involved: employers, employees and plan fiduciaries. With the goal of tailoring our services to the specific needs of each client, we work closely with plan sponsors to custom design employee benefits plans that maximize the desired benefits. We have also developed a variety of off-the-shelf products—such as pre-approved plans and plan compliance audits. Furthermore, we regularly assist employers in designing overall compensation packages.
Publications and Leadership Positions
The members of our employee benefits and executive compensation team have a deep understanding of the complex benefits landscape, as well as emerging issues of concern for our clients. In fact, our attorneys are regular panelists and presenters at a range of industry seminars and conferences, including:
- National Coordinating Committee for Multiemployer Plans
- International Foundation of Employee Benefit Plans
- Employee Benefits Institute of America
- American Bar Association's Labor and Employment Section and its Subcommittee on Withdrawal Liability (Neutral Co-Chair)
- Chicago Bar Association's Employee Benefits Committee and IRS Subcommittee
- American Society of Pension Professionals and Actuaries
- National Institute of Pension Administrators
Areas of Concentration
Single-Employer Plans/Executive Compensation