Blog

Contact Us for More Information

ERISA Mediation Strategies

Posted by Marc S. Schechter | Aug 23, 2017 | 0 Comments

Mediating ERISA disputes has unique challenges compared to mediating other types of civil claims. Some attorneys representing the employer use mediation as a way to flex their litigation muscle, coming down hard on the employee. However, mediation should be used as a way to resolve a complaint be...

5 Common Mistakes of Plan Sponsors

Posted by Paul D. Woodard | Aug 10, 2017 | 0 Comments

Failure to Maintain Plan Documentation It is important for plan sponsors to have a general understanding of their fiduciary responsibilities to plan participants. These include making sure to avoid conflicts of interest, diversifying investments, and acting in the best interests of plan particip...

ESOP Pitfalls and How to Avoid Them

Posted by Corey F. Schechter | Aug 04, 2017 | 0 Comments

There are a number of benefits associated with employee stock ownership plans (ESOPs) for companies. In general, an ESOP can be a benefit to owners, employees, and the company overall. However, ESOPs can present some problems and complications. Understanding the potential pitfalls of an ESOP can ...

ESOP Fiduciary Duties After Dudenhoeffer

Posted by Corey F. Schechter | Aug 02, 2017 | 0 Comments

The Supreme Court has offered some guidance and clarification on the fiduciary standards for Employee Stock Ownership Plans (ESOPs). After the 2014 Dudenhoeffer decision, ESOP fiduciaries lost their presumption of prudence that protected most ESOP fiduciary decisions. However, the Court also rais...

Remember the Exceptions to the RMD Rules

Posted by Paul D. Woodard | Jul 31, 2017 | 0 Comments

Many common retirement savings plans are subject to required minimum distributions (RMDs). This includes traditional IRAs, SEP and SIMPLE IRAs, as well as 401(k)s, 403(b)s, and other defined contribution plans. Once youve reached the mandatory age for taking withdrawals from your IRA or retireme...

Is a 457 Plan Right For You?

Posted by Paul D. Woodard | Jul 19, 2017 | 0 Comments

There are a number of retirement plans offered by employers, including pension, profit sharing, and 401(k) plans. While many companies offer 401(k) or 403(b) retirement plans, the lesser known 457 plans provide an alternative retirement plan option for many governmental and non-profit employees. ...

Why Choose an ESOP For Your Construction Company?

Posted by Corey F. Schechter | Jul 14, 2017 | 0 Comments

Earlier this month, we wrote about ESOPs as a succession planning tool for construction company owners. However, there are a number of other reasons why construction and manufacturing companies are turning to ESOPs beyond succession planning. An Employee Stock Ownership Plan (ESOP) is a qualifie...

Avoid Costly Penalties for Late Form 5500 Filing

Posted by Paul D. Woodard | Jul 13, 2017 | 0 Comments

In addition to the many other local, state, and federal filings, businesses with benefits plans may be required to file an annual Form 5500 to report their pension and welfare plans' financial condition, investments, and operations. Late filings, unfiled reports, and incomplete filings can expose...

Managing Frozen Pension Plans

Posted by Corey F. Schechter | Jul 12, 2017 | 0 Comments

A pension plan is a defined benefit or defined contribution retirement plan. Typically, contributions are made to an employee's pension plan over the course of their life with a company, with benefit to be paid out after the employee retires or reaches a certain age. However, if the company freez...

Is Your Company Too Small for an ESOP?

Posted by Corey F. Schechter | Jul 05, 2017 | 0 Comments

Employee Stock Ownership Plans (ESOPs) offer a number of advantages for business owners, employees, and the company overall. However, some small businesses may consider themselves too small to justify the costs of transitioning to an ESOP company. A direct sale to key employees may be a way for s...

Succession Planning for Your Construction Business

Posted by Paul D. Woodard | Jul 03, 2017 | 0 Comments

Succession planning for your business can seem like a complex and time-consuming process. For many business owners, including construction company owners, succession planning takes a back seat to the day-to-day business operations. However, it is important to plan for an exit strategy to ensure c...

Estoppel in ERISA Claims

Posted by Corey F. Schechter | Jun 19, 2017 | 0 Comments

Equitable estoppel is a legal doctrine where a party who relies on the misrepresentation of another should not be harmed as a result. The doctrine has a long history, but limited application in ERISA litigation. ERISA does not explicitly provide for “equitable estoppel” as a remedy for plan parti...

Will California Establish Its Own Estate Tax?

Posted by Paul D. Woodard | Jun 13, 2017 | 0 Comments

The federal estate tax is assessed on an individual's property and assets after they die. According to the Office of Management and Budget, in 2014, the estate tax generated over $19 billion at the federal level. However, in reality, most taxpayers never come close to paying estate taxes because ...

Church-Affiliated Hospitals Win ERISA Exemption

Posted by Paul D. Woodard | Jun 09, 2017 | 0 Comments

Historically, a number of large hospital systems in the U.S. were established by churches or religious organizations. The Employee Retirement Income Security Act of 1974 (ERISA) regulates most private employer retirement and benefits plans. ERISA mandates minimum funding and reporting requirement...

New Ruling Emphasizes the Significance of Language in Marital Settlement Agreements and the Importance of Qualified Domestic Relations Orders

Posted by Corey F. Schechter | Jun 08, 2017 | 0 Comments

Contributing Author: Dianne L. Schechter On May 23, 2017, the Fourth Appellate District for the Court of Appeal of the State of California filed an opinion in the case of In re the Marriage of Misti and Tim Janes (Cal. App. 4th, E065668). Misti and Tim Janes were married in September 1992 and s...

Incentive Programs - Are They Subject to ERISA?

Posted by Paul D. Woodard | Jun 06, 2017 | 0 Comments

Most company health and retirement benefit plans are subject to the regulations set forth under the Employee Retirement Income Security Act of 1974 (ERISA). However, other benefits programs, including employer bonus or incentive programs, are set up with the understanding that ERISA does not appl...

  • 1 of 7

Retirement Plans

We help establish a customized plan that meets regulatory requirements as a tax qualified plan. Following implementation, our attorneys can assist clients and their plan administrator with regular reviews and updates to help with regulatory compliance for the plan's operation, and continued effectiveness in meeting the client's specific goals.

ESOPs

We are dedicated to employee ownership. When you come to us for ESOP services, you receive influential legal counsel who stand beside you to help you stay informed, in compliance, and abreast of the latest developments-all to help you realize your plan goals as fully and effectively as possible.

QDROs

A QDRO is a specially designed court order that is required for the division of retirement benefits in a family law case. Many family law attorneys do not possess the expertise necessary to divide retirement benefits or stock options upon divorce. We have extensive experience in dividing qualified plans, government plans, IRAs and stock options between the employee spouse and non-employee spouse.

Butterfield Schechter LLP provides the information in this website as a service to its clients and visitors to the site. This website is for information purposes only and is not intended to create, and receipt of it does not constitute, an attorney-client relationship. The information in this website is provided "as is," and while the information in this website is updated periodically, additional facts or future developments may affect subjects contained herein, and no guarantee is given that the information provided is correct, complete, or up-to-date. Seek the advice of professional counsel before acting or relying upon any article, form, or information in this web site. To ensure compliance with the requirements imposed by the United States Treasury and the Internal Revenue Service, we inform you that any federal tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of: (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing, or recommending to another person any transaction or matter addressed herein. Butterfield Schechter LLP has endeavored to comply with all known legal and ethical requirements in compiling this website. In the event that this communication does not conform with any laws or regulations of any state or country in which it may be received, Butterfield Schechter LLP will not accept legal representation based on this communication from a person in such a state or country. Electronic mail is provided as a convenience in communicating with the attorneys at Butterfield Schechter LLP. Contact by e-mail does not alone create an attorney-client relationship. Please remember Internet e-mail is not secure and messages sent to the firm or any of its employees or attorneys should not contain sensitive or confidential information. Thank you for visiting our site.

Menu