Calfee's nationally recognized Employee Benefits and Executive Compensation practice group advises business and governmental clients on managing their most challenging legal and business issues related to benefits and compensation.
In addition to extensive experience with tax-qualified retirement and employee health and welfare benefit plans, the group’s practice also has a significant focus on the design and implementation of sophisticated executive compensation programs, ESOPs, merger and acquisition matters, and ERISA litigation.
We are experienced in all types of benefit plans, including defined benefit pension plans, 401(k) plans, ESOPs, executive compensation arrangements, welfare plans, Voluntary Employees’ Beneficiary Associations (VEBAs), governmental plans, church plans, 403(b) plans and 457(b) plans. Areas of recent growth include forming ESOPs and pooled employer plans and negotiating pharmacy benefit management contracts.
Calfee represents publicly and privately held corporations, nonprofit organizations, banks and trust departments, and government entities in all phases of designing and administering employee benefit programs and related tax and fiduciary duty issues.
Calfee regularly advises large employers and governmental retirement systems on designing and administering their employee benefit plans, including drafting plan documents and summary plan descriptions, administering claims requests and appeals, and negotiating with recordkeepers, third-party plan administrators, pharmacy benefit managers and other service providers.
In addition, Calfee advises clients with large pension plans and 401(k) plans on matters related to the investment of their plan assets, such as investment manager and adviser arrangements, investments in private equity and hedge funds, transition management arrangements and compliance with regulatory requirements.
Chambers USA Band 2 Ranking in Employee Benefits & Executive Compensation (Ohio)
Calfee's Employee Benefits and Executive Compensation group is consistently recognized by Chambers USA. Most recently, Calfee was ranked in 2021 in Band 2 for Employee Benefits & Executive Compensation.
Chambers USA researchers stated the team is a "Respected group that works with a range of clients, including nonprofit organizations, public entities and private corporations. Noted capabilities in ESOPs, ERISA litigation and M&A-related issues. Well equipped to advise clients on compliance with fiduciary rules and other regulations." A client interviewed by Chambers USA researchers commented, "[My company] is extremely satisfied with the work [Calfee] has done for us. They are thorough, creative and responsive." Another source reported, "I have been impressed by the team and have strong confidence in its work and capabilities. I value responsiveness, and they have delivered that on a consistent basis. They display very strong knowledge of the matters in which I have involved them." One interviewee highlighted the practice's "strong knowledge of benefit plans and amazing ability to link things together."
In the Chambers USA 2020 guide, one client commented that "They're trusted partners who are fantastic and cost effective and their guidance is always top-tier, on point, calculated and strategic." Another commentator stated, "Their strength is their knowledge of ERISA, employee benefits and our plans; they always make time for our team, no matter how much we throw at them, they always get it done."
Employee Benefits and Executive Compensation practice Chair, Robert A. Miller, was ranked by Chambers USA 2021 in Band 2. A client interviewed by Chambers USA researchers relayed, "[Bob] is very knowledgeable and provides practical advice." In the Chambers USA 2020 guide, a commentator noted, "[He] is very knowledgeable and helpful in identifying solutions to complex problems. He always makes himself available and is thorough in all his work."
Partner Steven W. Day was ranked by Chambers USA 2021 in Band 3. A client interviewed by Chambers USA researchers appreciates Steve's "level of performance, advice, diligence and historical knowledge of our plans." In the Chambers USA 2020 guide, he is noted as an attorney who "works the timelines very well, gets [us] good work product, and meets [my] expectations every time."
U.S. News – Best Lawyers® “Best Law Firms” Rankings
Calfee was selected for inclusion in the 2022 "Best Law Firms" rankings by U.S. News – Best Lawyers in Litigation – ERISA (National Tier 2, Regional Tier 1 Cleveland) and Employee Benefits (ERISA) Law (Regional Tier 1 Cleveland).
Executive Compensation
Qualified Retirement Plans
Health and Welfare Benefits
Investment Management
Regulatory Compliance
Mergers and Acquisitions
ESOPs
ERISA Litigation
A list of Calfee's representative Employee Benefits and Executive Compensation practice clients include the following:
The operational and compliance issues underlying the client's health and welfare benefit plans for approximately 50,000 employees.
Drafting and negotiating a multi-billion-dollar services agreements with its pharmacy benefit manager for prescription drugs under its group health plan for active employees and its retiree medical plan.
Drafting and negotiating a series of services agreements with vendors providing voluntary benefit programs, such as pet insurance, legal services and home and auto insurance.
Advising on implementing changes to its group health plan that were required or permitted under federal and state law in response to the COVID-19 pandemic, including the Coronavirus Aid, Relief, & Economic Security Act of 2020 (the CARES Act) as well as other relief under COBRA and other federal tax laws.
Merging a group health plan sponsored by an affiliated business unit into the client's U.S. group health plan.
Provide ongoing advice to one of the nation's premier retirement systems regarding benefit plan matters, including concerning the pension and healthcare arrangements it maintains for retired school and university teachers of its state. Recent notable projects included providing guidance or other assistance regarding:
Drafting and negotiating a multi-billion-dollar services arrangement with a new pharmacy benefit manager for prescription drugs under the client's retiree health plan.
Changes to their retirement plans required or permitted under the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act) and the Coronavirus Aid, Relief, & Economic Security Act of 2020 (the CARES Act).
Analyzing the client’s ability to move funds from a 401(h) account for retiree health benefits back to the retirement plan.
Various IRS rules impacting the timing of after-tax contributions to purchase permissive service credits under its pension plans.
Represent Calfee as the legal partner of an advisory firm as it forms Pooled Employer Plans (PEPs) for its clients. PEPs are multiple employer defined contribution plans created under the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act) and will become effective starting January 1, 2021. Members of the Employee Benefits and Executive Compensation practice group will be responsible for providing legal due diligence review of 401(k) plans that are being merged into the respective PEPs.
"The Employee Benefits and Executive Compensation team is a respected group that works with a range of clients, including nonprofit organizations, public entities and private corporations. Noted capabilities in ESOPs, ERISA litigation and M&A-related issues. Well equipped to advise clients on compliance with fiduciary rules and other regulations."
Researcher comments from the Chambers USA 2021 Guide
