Qualified Retirement Plans & ESOPs

Qualified plans are the core retirement vehicle for most of our clients.

Our Compensation & Benefits lawyers help our clients establish and maintain their qualified plans. We draft and amend the plans for our larger clients, and prepare applications and submit plans to the IRS for determination letters. 

We do more than just draft and amend clients' plan documents and submit IRS applications, however. We counsel our clients about all aspects of their qualified plan design and administration. We understand the complex relationships among lawyers, clients, plan trustees, investment advisors and record keepers. Our experience helps our clients make creative, practical plan design and redesign decisions and deal with the various parties involved in the maintenance and administration of their plans.

We also counsel clients about correcting the errors that often occur in administering qualified retirement plans. These errors include differences between what the plan says and how the plan is operated, and plan provisions or plan administration that does not comply with the law. Most of these errors can be corrected without the IRS or the DOL imposing penalties under applicable administrative procedures. We work closely with our clients to tailor prudent corrections that both comply with these administrative rules and can be practically implemented by the client or third-party recordkeeper.

We are also experienced with the significant state and federal securities issues involved whenever employees are offered investments involving employer securities. Whether the stock in an employer's plan needs to be registered with the SEC under federal securities laws or is subject to state blue-sky laws, we provide incomparable securities law expertise to our clients.

Qualified plans are a client's core retirement vehicle and have significant tax and security advantages but complex rules. Orrick lawyers assist Qualified Plan and ESOP clients in:

  • Plan Design
  • Implementation
  • Drafting and Re-design
  • Administration and Correction Issues
  • ESOP Valuation and Fiduciary Issues
  • Securities Issues