Employee Benefits & Executive Compensation

Employee Benefits & Executive Compensation

Ruder Ware attorneys assist businesses of all sizes in complying with the requirements of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code.

Our attorneys work with clients in connection with the design, implementation, and administration of various types of employee benefit programs, such as defined benefit plans, profit sharing plans, 401(k) and 403(b) plans, employee stock ownership plans (ESOPs), employee stock purchase plans, executive compensation plans, group health plans, and cafeteria plans. Our clients range in size from small family owned businesses to large, publicly held corporations. Our services include:

  • Drafting benefit plan and trust documents to meet both the client’s specific plan design needs and the requirements of ERISA and the Internal Revenue Code
  • Providing guidance on matters such as the deductibility of contributions to and the taxation of distributions from tax-qualified retirement plans
  • Advising on employee communication matters for tax-qualified retirement plans, welfare plans (including group health, life, and disability programs), and fringe benefit plans (such as cafeteria plans, flexible spending accounts, and qualified transportation fringe benefit plans)
  • Analyzing and addressing retirement plan, welfare plan, and executive compensation plan issues that arise in connection with corporate mergers, acquisitions, and dispositions
  • Representing clients and their plans before the Internal Revenue Service, the Department of Labor, and the Pension Benefit Guaranty Corporation; obtaining determinations from those regulatory agencies; and assisting with the many interpretive questions that inevitably arise in the course of employee benefit plan administration
  • Assisting clients with correcting employee benefit plan deficiencies through the Internal Revenue Service and Department of Labor voluntary compliance programs
  • Analyzing withdrawal liability issues and negotiating withdrawal liability assessments arising in connection with participation in multi-employer pension plans on behalf of both private and public employers
  • Advising clients with respect to all aspects of implementing and administering group health plans, including compliance with applicable state and federal laws affecting group health plans such as ERISA, COBRA, and HIPAA
  • Designing and implementing nonqualified deferred compensation arrangements, nonqualified and incentive stock option plans, stock purchase plans, severance arrangements, life and disability insurance programs, split-dollar arrangements, rabbi trusts, and other types of benefits for both executives and other employees
  • Working on executive compensation and employee benefits issues that arise in connection with mergers and acquisitions and private equity transactions
  • Working with chief executive officers and other senior executives in negotiating employment, severance, and change-of-control arrangements with their current and successor employers
  • Advising employee benefit plan administrators and plan sponsors regarding ERISA fiduciary responsibilities.

Founded in 1920, Ruder Ware provides business, employment, estate planning, and litigation services. A full-service law firm, over 45 attorneys provide clients with a one-stop approach to their legal needs. Ruder Ware, Business Attorneys for Business Success.

2023 Qualified Plan Cost of Living Increases, 2023 Social Security Taxable Wage Base

Posted on October 21, 2022 by

On October 21, 2022 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits.  All of the limits shown below have increased (in some cases significantly) from last year.   Qualified Plan Limit Cost-of-Living Adjustments 401(k) and 403(b) elective deferral limit 2022 – $20,500 2023 – $22,500 $200,000 compensation limit […]

Employers Beware: IRS Cautions Employers Against Engaging Third Party Employee Retention Credit Consultants

Posted on October 20, 2022 by and

Recently, we have been fielding a fair number of inquiries from clients who have been approached by third parties urging them to claim the Employee Retention Credit (“ERC”).  The ERC, which the federal government enacted back in 2020 to help blunt the economic impact of COVID-19, is a refundable tax credit designed to reward businesses […]

New EEO Poster Required!

Posted on October 19, 2022 by

Today the Equal Employment Opportunity Commission released a new poster that is required for employers covered by Title VII.  The new poster is entitled “Know Your Rights” and includes these changes: Notes that harassment is a prohibited form of discrimination; Clarifies that sex discrimination includes discrimination based on pregnancy and related conditions, sexual orientation, or […]

Minnesota Latest State to Legalize THC Products

Posted on October 5, 2022 by and

Do you have employees in the Viking state? If so, keep reading!  On July 1, 2022, Minnesota adopted a new law legalizing the sale, purchase, and consumption of edible cannabinoid products to people aged 21 and over. The law legalized the use of edible cannabinoid products made from substances extracted from certified hemp plants.  The […]

Make Sure Overtime is Calculated Correctly

Posted on August 17, 2022 by

The Fair Labor Standards Act provides an employee should receive compensation for overtime hours at a rate “not less than one and one-half times the regular rate at which he is employed.” 29 U.S.C. § 207(a)(1). This is a well-known principle by employers and employees alike. However, “regular rate” is not the same as the […]

Pain at the Pump: IRS Announces Mid-Year Adjustment of Business and Medical Mileage Rates

Posted on June 9, 2022 by

Due to the increase in the cost of gasoline since establishing the 2022 rates last year, the Internal Revenue Service is increasing mid-year the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses.  Effective July 1, 2022, the optional standard mileage rates will be 62.5 […]

Are You Keeping an Eye on Your Form I-9?!

Posted on May 26, 2022 by

Recently, we have been fielding calls from clients regarding “remote” Form I-9 verification. The current rule is that employers can ONLY verify I-9 forms remotely for employees who are remote due to COVID -19. For the curious, read our FAQ below: 1. What was the rule pre-COVID? The Department of Homeland Security (DHS) has ALWAYS […]

2023 HSA Limits Are Announced

Posted on April 29, 2022 by

On April 29, 2022, the IRS announced the Health Savings Account limits for 2023.  With respect to contribution limits, the limits are higher than the ones for 2022 and the required deductible and out-of-pocket maximums have increased as well.  As a reminder, these inflation adjusted amounts are effective for calendar year 2023 HSA/HDHP Requirement Cost-of-Living […]

OSHA ETS Halted Again!

Posted on January 13, 2022 by and

Today the Supreme Court ordered that OSHA’s ETS be placed back on hold (a/k/a “stay”) and sent back to the 6th Circuit Court of Appeals.  In its order, the Court‘s majority noted the ETS may have gone too far because it required employers to remedy a “public health” concern: The Solicitor General does not dispute […]

Reminder—the OSHA ETS is Effective Now!

Posted on January 11, 2022 by

As you all know, last Friday the Supreme Court heard oral arguments regarding whether the OSHA ETS vaccine mandate should be upheld. The Court has not yet issued a ruling on this issue.  As of January 10, large employers need to be in compliance with all ETS requirements.  If an employer can show it is […]

More Insights...