“Top hat plans” —non-qualified deferred compensation plans that can be exempt from most of the requirements of Employee Retirement Income Security Act of 1974 or ERISA—can be a useful tool for employers looking to provide deferred compensation benefits to certain key employees. However, care must be taken to ensure compliance with the relevant requirements of ERISA and Section 409A of the Internal Revenue Code. Darren Goodman, Megan Monson, and Jessica I. Kriegsfeld of Lowenstein’s Executive Compensation and Employee Benefits Group discuss how to structure such plans to make them compliant.

Speakers:

Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Executive Compensation and Employee Benefits
Jessica Kriegsfeld, Associate, Executive Compensation and Employee Benefits

On the latest episode of Just Compensation, Lowenstein’s Darren Goodman, Megan Monson, and Jessica Kriegsfeld of the Executive Compensation, Employment and Benefits practice discuss how the structure of an M&A transaction can influence the treatment of the existing workforce and treatment of employee benefits such as outstanding equity awards, health and welfare plans, and retirement plans.

Speakers:

Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Executive Compensation and Employee Benefits
Jessica Kriegsfeld, Associate, Executive Compensation and Employee Benefits

In this episode of "Just Compensation," Megan Monson, Amy Komoroski Wiwi, and Amy C. Schwind discuss the evolving landscape of employment-related non-compete agreements, focusing on recent legal developments. The discussion highlights the Federal Trade Commission's recent decision to ban post-employment non-compete clauses and its implications for businesses nationwide, as well as several noteworthy state-level updates over the past six months and how these changes might impact employers and employees.

Speakers:

Megan Monson, Partner, Executive Compensation and Employee Benefits
Amy Komoroski Wiwi, Partner, Employment
Amy C. Schwind, Counsel, Employment

In today’s episode, Andrew E. Graw, Megan Monson, and Jessica I. Kriegsfeld address the U.S. Department of Labor’s final amendment to Prohibited Transaction Class Exemption 84-14, commonly known as the QPAM exemption, and its implications for investment managers. The hosts explore the current QPAM exemption, the modifications introduced by the final amendment, and the key takeaways for investment managers to ensure compliance and maintain their QPAM status.

Speakers:

Andrew E. Graw, Partner and Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Executive Compensation and Employee Benefits
Jessica I. Kriegsfeld, Associate, Executive Compensation and Employee Benefits

On this episode of “Just Compensation,” the hosts provide an introduction into Section 409A, the complicated tax code provision that governs non-qualified deferred compensation: when does it apply, how do you comply with it, what are the exceptions, and what are the implications of noncompliance?

Speakers:

Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Executive Compensation and Employee Benefit

On this episode of “Just Compensation,” Darren Goodman, Sophia Mokotoff, and Taryn E. Cannataro discuss equity compensation that can be issued by partnerships, with a special focus on profits interests. Profits interests are very commonly used by partnerships due to their flexibility in structuring and advantageous tax treatment. The lawyers explain the pros and cons of such arrangements.

Speakers:

Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Sophia Mokotoff, Partner, Tax
Taryn E. Cannataro, Counsel, Executive Compensation and Employee Benefits

Andrew Graw, Taryn Cannataro, and Jessica Kriegsfield of Lowenstein Sandler's Employee Benefits and Executive Compensation Practice Group address multi-employer pension plans in the context of a business transaction, providing listeners with an overview of considerations and areas of potential liability plus tips on how to mitigate these issues. A multi-employer plan is comprised of various unrelated employers who make contributions on behalf of a unionized workforce; these contributions are based on a collective bargaining agreement, so failure to make those contributions or certain types of withdrawals can result in liability for the acquirer or the target. The lawyers advise inquiring about the funding status of the plan, considering the impact of changes in the workforce post-closing, and addressing potential withdrawal liability in the purchase agreement before closing a business transaction when a multi-employer plan is involved.

Speakers:

Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation

On the latest episode of “Just Compensation,” Andrew E. Graw, Taryn E. Cannataro, and Jessica I. Kriegsfeld address single-employer defined benefit plans in the context of a business transaction, and the potential liabilities inherent in maintaining the plan post-closing as well prior to the closing— especially in light of how well funded the plan is. They discuss who bears the liability for a defined benefit plan in a transaction, and what an acquirer can do to mitigate the pension liability.

Speakers:
Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation