Sorling Northrup has extensive experience representing employee benefit plan sponsors, plan fiduciaries and plan service providers in sophisticated employee benefit matters.
We assist employers in designing, implementing and administering defined contribution plans, defined benefit plans and health and welfare plans that both align with business objectives and comply with ERISA, the Internal Revenue Code, and other statutory regimes, and have in-depth experience drafting and negotiating plan agreements with trust companies, insurers, recordkeepers, third party administrators, investment advisors and managers, brokers, and many other service providers. Sorling attorneys also advise plan fiduciaries on hot industry topics, as well as on general day-to-day benefits issues, ranging from the risks and benefits of revenue-sharing arrangements, monitoring and valuation of plan investments in company stock and compliance with the Patient Protection and Affordable Care Act to the correction of plan errors and preparation of participant communications and claims assessments. We deal with fiduciary governance, risk management and compliance issues on a regular basis. For example, we counsel our clients on structuring and delegation of plan roles and responsibilities to mitigate fiduciary risk, transactional compliance with ERISA’s and the Code’s prohibited transaction rules, the prudent use of plan assets to satisfy plan expenses and benchmarking of compensation arrangements.
We have significant experience advising plan service providers and providers of investment products regarding ERISA’s fiduciary requirements, prohibited transactions and corresponding exemptions, as well as disclosure requirements. We develop form contractual documentation for service providers to use with their plan clients, and identify current market terms and trends for contractual arrangements. Our knowledge regarding issues of particular concern to the Department of Labor and litigation trends is cutting edge; we successfully provide our clients with practical solutions for maintaining best practices and proactively managing risk.
Sorling Northrup attorneys who practice in this area include: