Spencer Fane’s Employee Benefits Group provides comprehensive services with respect to all types tax-qualified retirement plans, including 401(k) plans, profit sharing plans, ESOPs, pension plans, and cash balance plans. These services include drafting, amending, merging, and terminating such plans, as well as obtaining IRS determination letters on their qualified status. We assist clients with self-audits for tax qualification issues and conduct fiduciary compliance reviews.
On a daily basis, we provide advice concerning plan interpretation questions and compliance with federal laws and regulations, including the Tax Code’s nondiscrimination requirements, the use of qualified plans in early retirement incentive programs, and the fiduciary and prohibited transaction rules imposed by both the Tax Code and ERISA. The Group has helped numerous clients correct errors in the administration of their plans through IRS programs for avoiding plan disqualification, such as the Employee Plans Compliance Resolution System (“EPCRS”).