Employment Benefits + Tax Issues
Clients understand why the prestigious Chambers USA recognized Miller Canfield's Employee Benefits and Tax Issues practice as one of the best in the state: They receive sound, pragmatic counsel about issues involving virtually all types of employee benefit plans, employment contracts, executive compensation matters and insured and self-insured health and welfare plans.
These issues generally relate to:
- Employee welfare plans, including health care, disability and death benefits, child care reimbursement and other benefits;
- Pension and profit-sharing plans;
- Cafeteria plans;
- Cash bonus plans;
- 401(k) plans, IRAs and Keogh plans;
- Multi-employer plans;
- 501(c)(9) trusts (VEBAs);
- Nonqualified deferred compensation arrangements;
- Plans involving the transfer of employer stock to employees, including ESOPs;
- Governmental retirement and deferred compensation plans, and;
- Employee benefits aspects of mergers and acquisitions.
Our attorneys design and draft new plans tailored to serve clients’ specific needs. We closely monitor the legislative and regulatory environment to keep clients well-advised of changes that may affect the value and administration of their plans. We proactively prepare plan amendments to comply with new legislation, and continuously work with clients to maintain compliance with applicable tax and labor laws including fiduciary responsibility and prohibited transaction rules.
We work with other Miller Canfield practice groups to counsel clients involved in purchasing or selling a company, eliminating or resolving the many potential problems that can arise in merged, acquired or spun-off company benefit plans, including reporting, disclosure and funding requirements, unrelated business income, spousal benefits, qualified domestic relations orders, continuation of retirees’ medical coverage, and measures to limit fiduciary liability. We also help clients to plan and minimize taxes on distributions from qualified plans and IRAs.
Our experience is both broadened and strengthened by the wide variety of clients with whom we are privileged to work: publicly traded businesses, closely held businesses, professional corporations, joint ventures, school districts, colleges and other educational institutions, municipalities and other governmental entities, investment advisers, insurance companies, brokerage firms, executives, nonfiduciary service providers, sponsors of investment vehicles, and trustees.