Employee Benefits
Bass, Berry & Sims’ attorneys advise businesses of all sizes from start-up to international Fortune 500 companies on all facets of employee benefits programs. Additionally, our team counsels individual CEOs and boards on a wide range of executive compensation arrangements.
Employee Benefits Plans
We partner with public and private employers, benefits consultants and third party administrators in the design, drafting, implementation, amendment, termination and administration of all types of employee benefit plans, including:
- Health, life, disability and other welfare benefit plans
- Cafeteria plans, including health and dependent care flexible spending accounts
- Voluntary employees’ beneficiary associations (VEBAs)
- Health savings accounts (HSAs) and health reimbursement arrangements (HRAs)
- Wellness programs
- Tax-qualified retirement plans, including 401(k), 403(b) and 457 plans; profit sharing plans; and defined benefit pension plans
- Multi-employer plans and other collectively bargained plans
- Non-qualified deferred compensation plans, including Section 409A compliance
- Supplemental executive retirement plans
- Employee stock ownership plans (ESOPs), 401(k)-ESOP combinations (KSOPs) and other stock bonus plans
- Equity compensation plans, including employee stock purchase plans (ESPPs) and incentive stock option plans
- Severance and golden parachute agreements
- Multiple employer welfare arrangements (MEWAs)
ERISA Fiduciary Guidance
Heightened focus on ERISA fiduciaries by the U.S. Department of Labor and plaintiffs’ attorneys has resulted in new regulations, expanded audits and increased litigation. We regularly advise fiduciaries with respect to their duties under ERISA and provide practical and innovative solutions for minimizing fiduciary risk. These services involve a comprehensive fiduciary compliance program that includes a self-audit process, fiduciary training, a documentation package that includes a tailored fiduciary committee charter and investment policy statement, and service provider RFP support.
Employee-Sponsored Health Plans
We guide employers through the changing landscape for employer-sponsored group health plans under the Patient Protection and Affordable Care Act (ACA). This includes the provision of information, training and tools that employers need to comply with the ACA. We also advise employers with respect to COBRA and the HIPAA privacy and security rules as they apply to employer-sponsored health plans.
Experience
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We have successfully defended our clients against roughly $26 million in ACA employer mandate penalties, which relate to the ACA mandate that requires employers with 50 or more full-time employees to offer minimum essential health coverage to those employees (and their children up to age 26) or be subject to penalties.
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We represented a civil engineering company in establishing an Employee Stock Ownership Plan (ESOP) and successfully acquiring 49% of the company in a leveraged transaction in the amount of $6.6 million.
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We represented a recycling corporation in the establishment of an Employee Stock Ownership Plan (ESOP) used to acquire 100% of the company in a leveraged transaction in the amount of $51.5 million.
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Represented LFM Capital in its acquisition of a forestry mulching equipment manufacturer
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Represented LFM Capital in Michigan-based manufacturer
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Represented Pharos Capital Group in its acquisition of Horizon Oncology
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Represented the trustee in the formation of an ESOP for a real estate investment firm located in Memphis, Tennessee
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Successfully represented a manufacturer of nutritional and functional bars located in Nashville, Tennessee in the sale of its mainline business to Hearthside Food Solutions
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Represented a leading provider of 340B Drug Pricing Program services in its acquisition by a prescription benefit management subsidiary of a leading pharmacy healthcare provider
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Represented an investment advisory and wealth management firm located in Memphis, Tennessee, with respect to its ESOP
Professionals
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.