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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    ERISA

Date & Time
  • event Date

    Tuesday, April 18, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will provide ERISA counsel guidance on a variety of employee benefit issues when companies are making changes to their workforce. The panel will discuss how workforce modifications can run afoul of Section 409A, the legal ramifications of providing subsidies for health and welfare plans, and the impact of workforce changes on 401(k) plans and modifications that may be necessary.

Faculty

Mark E. Bokert
Partner/Co-Chair
Davis+Gilbert LLP

Mr. Bokert is co-chair of the firm's Benefits + Compensation Practice Group. His practice encompasses nearly all aspects of executive compensation and employee benefits, including matters related to equity plans, deferred compensation plans, phantom equity plans, qualified retirement plans and welfare plans. He has extensive experience in Section 409A and deferred compensation arrangements. He has extensive experience in counseling plan committees on their fiduciary responsibilities under ERISA.

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David B. Teigman
Partner
Proskauer Rose LLP

Mr. Teigman is a partner in the Tax Department and a member of the Employee Benefits & Executive Compensation Group. He focuses his practice on executive compensation and benefit matters, principally in connection with mergers and acquisitions, securities offerings and senior executive employment relationships.

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Description

The lingering impact of the pandemic and inflation continues to provide significant employee benefit challenges for businesses making modifications to their workforce. Employee benefits counsel must recognize the legal ramifications and administrative issues that a change in a company's workforce has on non-qualified deferred compensation plans, health and welfare plans, and 401(k) plans.

Employers may consider making changes to their workforce and other mechanisms to reduce costs due to the current state of the economy. However, any changes could bring about significant issues for employee benefit plans. A number of complex rules and regulations under the Internal Revenue Code and ERISA must be analyzed to better assess how workforce changes impact employee benefit plans rules and regulations.

When making workforce modifications, employee benefits counsel and employers must avoid pitfalls stemming from bonuses, severance, non-qualified deferred compensation, subsidies, loans, vesting, and other key issues.

Listen as our panel discusses employee benefit issues when making workforce modifications, the application of Section 409A, the legal ramifications of providing subsidies for health and welfare plans, and the impact of workforce changes on 401(k) plans.

Outline

  1. Workforce modifications; applicable ERISA rules and regulations
  2. Section 409A; bonuses, severance, and non-qualified deferred compensation plan considerations
  3. Issues for health and welfare plans
  4. Challenges for 401(k) plans
  5. Best practices for employee benefits counsel

Benefits

The panel will discuss these and other key issues:

  • What ERISA rules and regulations must be considered when making workforce modifications?
  • What are the employee benefits and administration challenges?
  • What is the impact of Section 409A?
  • What are the key considerations for health and welfare plans?
  • What challenges arise for 401(k) plans?
  • How do you avoid potential discrimination issues?
  • Best practices for employers and counsel in reviewing separation agreements