Employee benefits acumen, extensive experience
Martin assists clients with the intricacies of 401(k), 403(b), 457(b), 457(f), 409A, and defined benefit retirement plans. His practice includes:
- Creating tax-efficient executive compensation arrangements designed to incentivize quality service and instill executive loyalty
- Counseling clients on the administrative, design, legal, and testing considerations of tax-qualified retirement plans
- Providing proactive, practical advice to prevent plan administrative errors and to avoid litigation
- Employee Plans Compliance Resolution System (EPCRS), Voluntary Fiduciary Correction Program (VFCP), and prohibited transactions
- Providing guidance on the extensive employee benefits impact of employee, independent contractor, and leased employee treatment
- Assisting clients to address difficult and unusual payroll tax and reporting compliance situations
- Resolving various audit, administrative and compliance issues involving qualification, fiduciary and reporting issues with the Internal Revenue Service (IRS), the Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC)
Quality Service under Pressure
Martin crafted a detailed golden parachute analysis for a large publishing company that included estimates of stock option value, deferred compensation and severance for more than 20 executives. The project was particularly difficult because it was presented within days of closing.
Consolidating Qualified Retirement Plans
For a large manufacturer that had grown through acquisition over the prior decade, Martin efficiently consolidated multiple qualified retirement plans into a single plan. In addition to counselling the client on the design of the combined plan, Martin obtained an IRS ruling on the combined plan, assisted with the conversion of the recordkeeping arrangements, and provided guidance on the numerous operational changes resulting from the company-wide retirement plan consolidation.
Solutions for Unique Transactions
Tapping his extensive experience in executive compensation matters, Martin was able to greatly mitigate the potential negative tax impact on the supplemental retirement benefits of the executives of a taxable entity merging into tax-exempt entity.
Big Ticket Payroll Issues
Martin successfully handled an extensive IRS audit of his public education client related to Federal Insurance Contributions Act liability. The audit addressed legacy compensation arrangements that had triggered unintended tax consequences for benefit recipients.
Navigating International Waters
In drafting this contract for the executives of a large international company, Martin deftly ensured compliance with the laws of several different countries while ensuring that all executives involved received their anticipated benefits in a tax-efficient manner.