Qualified Retirement Plans

Smith & Downey has substantial experience in the drafting and operation of pension, profit sharing, 401(k), employee stock ownership (ESOP), 403(b), and other deferred compensation plans. The firm’s attorneys have prepared and worked with master and prototype retirement plans, as well as IRA, SEP, and SIMPLE products for institutional clients.

In addition, the firm counsels clients regarding ongoing administrative obligations under their plans (e.g., minimum coverage and nondiscrimination testing, qualified domestic relations orders (QDROs), funding obligations, notice requirements, etc.).

The firm routinely represents clients before the Internal Revenue Service (IRS), the U.S. Department of Labor (DOL), the Pension Benefit Guaranty Corporation (PBGC), and other government agencies on qualified retirement plan matters. The firm routinely obtains determination letters, private letter rulings, exemptions, and other formal and informal guidance from these agencies.

Smith & Downey also assists clients in performing self-audits of their plans and helps clients remedy any errors using the Employee Plans Compliance Resolution System (EPCRS), other “amnesty” programs maintained by the IRS, and the DOL’s Voluntary Fiduciary Compliance Program (VFCP).

Smith & Downey's counsel with regard to qualified retirement plans is an element of the firm's nationwide work in employee benefits and executive compensation law. For additional information, contact Smith & Downey.