It is well known that Americans, as a group, are living longer. We cannot simply rely upon governmental benefits, such as Social Security, to provide a major source of retirement income. Our Retirement Planning and Executive Compensation practice group assists our clients in several ways. We counsel entities and assist them in the adoption of qualified retirement plans, such as a profit sharing plans and 401(k) plans, in tax-favorable manners. The benefits to the entity translate into benefits to the participants in the plan, the equity owners, and all of the other eligible employees, by allowing them to plan for their retirement in a tax favorable manner.

Many times our clients seek to attract talented individuals to assist them in the operation of their business, or seek to reward those employees who have been loyal or have otherwise been an important factor in the success of the client’s business. In these situations, we counsel our clients in the creation and adoption of plans that are tailored to reward the executive or other key employees for their efforts.

With ever-increasing health care costs, the added benefits that an employer can provide to its employees often become important factors in attracting and retaining employees. It is important for our clients to understand the tax-favorable benefits that they can provide to their workforce.

We work with our clients on a wide variety of projects, including:

• Profit-sharing plans
• 401(k) plans
• Defined benefit pension plans
• Money purchase pension plans
• Employee stock ownership plans
• Phantom stock plans
• Stock appreciation rights plans
• Restricted stock plans
• Stock option plans
• Incentive compensation bonus plans
• Nonqualified or executive deferred compensation plans
• Health care benefit plans
• Health care savings plans
• Cafeteria plans