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Employee Benefits

Overview

Attracting and keeping quality management and productive employees is perhaps the first priority of any business enterprise. The key to realizing that priority is the compensation and benefits offered by the employer. Salaries and wages are just a matter of dollars, but workplace benefits, incentives, profit-sharing and retirement compensation each involve tax considerations and compliance requirements. Bean, Kinney & Korman offers experienced and thoughtful counsel in these areas to clients in Northern Virginia, Maryland and Washington, D.C.

Advising on Employee Benefit and Executive Compensation Plans

Our attorneys guide our clients in designing, drafting, maintaining and terminating their employee benefit and executive compensation plans and programs. For a variety of private and non-profit employers, we provide knowledgeable counsel on tax and other legal issues associated with compensation agreements.

Specific Benefits and Compensation Experience

We are familiar with a number of benefits challenges entrusted to us by our clients who need responsive and comprehensible advice, including:

  • Qualified and non-qualified retirement plans
  • Employee stock ownership plans (ESOPs)
  • ERISA
  • Equity- and non-equity-based incentive plans
  • Tax sheltered annuities
  • Voluntary compliance programs
  • Plan terminations, mergers and transfers
  • Employee benefits matters arising in business transactions, including mergers and acquisitions
  • Internal Revenue Service and Department of Labor benefit plan audits
  • Executive agreements, including advice on executive compensation and fringe benefits
  • Employment and severance agreements
  • Employee benefits matters in bankruptcies and reorganizations
  • 409A issues

Understanding Your Business

In the world of employee benefits, it’s not a matter of one size fits all, it’s choosing among an infinite number of sizes to find the one that fits you. We focus on understanding your enterprise, so your benefits strategies and programs are aligned with your resources, labor market and business objectives. Done well, your employee benefits will contribute positively to your first priority – building the management and staffing talent to drive your company’s success.

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