Employee Benefits
Satterlee Stephens Burke & Burke LLP's Employee Benefits and Executive Compensation Group covers the entire spectrum of employee benefits and executive compensation law. Many employers have been giving more attention to their retirement and welfare benefits plans, as benefit costs have escalated and the regulatory requirements applying to these arrangements have grown more complex. We take pride in our ability to provide prompt, cost-effective, high-quality advice to our clients and to communicate even the most technical legal concepts in an intelligible manner.
Benefits ClienteleOur benefits clientele include prominent local, national and international businesses, as well as educational and philanthropic institutions and other not-for-profit entities. We advise these clients with respect to establishing and maintaining all types of retirement, welfare benefit, and other plans, including pension, profit-sharing, annuity, 401(k), employee stock ownership, stock-bonus, stock-option, phantom-stock, tax-sheltered annuity and thrift plans, as well as various group life insurance, medical, hospitalization, dental, optical, vacation, severance, legal, training, cafeteria, VEBA and other "health-and-welfare" and fringe-benefit plans.
Our attorneys provide extensive advice to employers concerning executive compensation, golden parachute and deferred compensation plans. In this context, we counsel clients on employment agreements, incentive compensation, early retirement window programs and a variety of supplemental retirement plans (advising on federal, state and international tax planning, as well as ERISA implications).
We also represent a large number of tax-exempt employers and have gained extensive experience with all issues involving application of the benefit and compensation laws to the tax-exempt entity arena. Our experience includes issues relating to Internal Revenue Code Section 403(b) arrangements, and application of the special rules under Internal Revenue Code Section 457(f) to deferred compensation arrangements.
Executive CompensationThe Firm's executive compensation practice involves all aspects of compensation and benefits for senior executives and other management employees. The group is familiar with all types of equity arrangements, such as stock option, restricted stock, stock purchase and phantom stock plans and arrangements, as well as use of stock in qualified plans and other types of incentive arrangements. In addition to drafting and assuring legal compliance of the plans, we also assist in the design of the arrangements in accordance with industry practices and alert clients to potential accounting issues depending on the design of the arrangements. We also handle all types of non-equity executive compensation arrangements, including supplemental executive retirement plans, deferred compensation arrangements, rabbi trusts, and cash incentive plans. Our multidisciplinary team addresses the tax aspects of these arrangements, as well as the securities, stock exchange, corporate and ERISA requirements for the arrangements and drafts the necessary disclosure documents.
We also represent senior executives and companies in connection with employment agreements, severance agreements and related matters. The companies involved run the gamut from large publicly-traded corpo¬rations to start-up companies and cover a great variety of industries.
General Practice AreasWe are regularly called upon to advise executives, trustees, administrators, boards of directors, and other plan fiduciaries and professionals on a wide variety of ERISA and tax issues. These include questions regarding reporting and disclosure, participation, vesting, funding, benefit accrual, fiduciary responsibility, prohibited transactions, plan termination, asset reversion, merger, employer withdrawal liability, the Age Discrimination in Employment Act, the Americans With Disabilities Act, COBRA, the Family and Medical Leave Act, the Health Insurance Portability and Accountability Act, various IRS correctional programs, bankruptcy, discrimination, federal and state agency enforcement, securities and other laws.
Transactional ExperienceOur Employee Benefits and Executive Compensation Group also advises clients in connection with purchases, sales, mergers, employee downsizings and other reductions-in-force, leveraged buy-outs and other forms of business acquisitions (and related lending transactions), as well as with respect to employee benefit plan mergers, spin-offs and asset transfers (including the establishment of a leveraged ESOP as a corporate acquisition device and financing tool). We analyze the cost and other implications of such transactions, perform the necessary due diligence, and draft appropriate documents to protect our clients' interests, as well as to deal with the treatment of stock options and employer stock in various plans.
Labor & EmploymentFor many years, Satterlee Stephens Burke & Burke LLP has represented employers in connection with all the various problems and issues involving their relations with their employees.
Our clients include every form and size of organization, ranging from multinational corporations to local businesses. We are particularly active in the financial, cultural, publishing, and philanthropic sectors. We are fully familiar with the National Labor Relations Act, Title VII, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Fair Labor Standards Act and the multitude of other federal, state and local laws governing employment.
On a regular basis, we provide advice about all aspects of the employment relationship, for both unionized and non-union employers, such as:
•employee discipline and discharge;
•reductions-in-force;
•development of personnel policies and procedures;
•preparation of employee handbooks;
•negotiation and drafting of employment agreements;
•equal employment opportunity, affirmative action and occupational safety and health requirements;
•immigration regulations and procedures;
•wage and hour practices; and
•delicate employment situations, such as issues arising from allegations of sexual harassment and employee privacy.
Our labor law experience is frequently sought in connection with corporate transactions, mergers, acquisitions, reorganizations and bankruptcy proceedings.
Immigration & NationalityIn an increasingly global economy, we help companies obtain temporary employment visas and immigrant visas authorizing unlimited employment with U.S. residence. Our immigration practice is nationally recognized, regularly servicing leading United States and multinational corporations. We educate management about the visa system, facilitating long-term career planning for key employees and establishing in-house visa programs that ease transfers. We also advise about compliance with I-9 employment authorization verification requirements and, when necessary, litigate immigration matters in administrative and federal court proceedings.