Resources
Experience

Comprehensive Benefit Plans Representation of Seller in Strategic Acquisition

We represented the largest physician network in Massachusetts in the employee benefits and executive compensation aspects of its acquisition by one of the largest health care companies in the United States. After several rounds of federal and state regulatory review, the transaction closed in 2022. In connection with the transaction, we advised the client regarding the full range of employee benefits and executive compensation issues that commonly arise in the mergers and acquisitions setting – including responses to due diligence requests, the negotiation of benefits-related terms in the transaction documents, the transfer of benefit plan sponsorship, administrative and legal compliance matters, and the like. Because of the unique circumstances (specifically, the acquisition of a tax-exempt organization by a for profit company), we were also required to resolve several novel legal issues regarding certain executive compensation plans maintained by the client and prepare significant related documentation. The law firms representing the client and the acquiror in the transaction are among the largest firms in the United States.

Firm Highlights

News

31 Verrill Attorneys, Across Four Offices, Recognized in 2022 Chambers & Partners Guide

News

Verrill Appoints Karen Hartford as Firm’s New Diversity & Inclusion Committee Chair

Publication/Podcast

Employee Benefits & Executive Compensation 2021 Summer Client Advisory

Click here to view as a PDF. This Client Advisory summarizes developments in the law governing employee benefit plans prompted by the COVID-19 pandemic. We explain what these developments mean for plan sponsors and...

Matter

Defined Contribution Plans Investment Menu Harmonization

We advised a major Massachusetts health system regarding the harmonization and rationalization of more than two dozen defined contribution plans with participant-directed investments, which were the combined legacy of several mergers by which the...

Publication/Podcast

2021 Year End Employee Benefit Plan Amendments

Health and Welfare Plans Employers that made available COVID-19 relief and benefit enhancements in 2020 – such as the increased carry over limit and extended grace period for health flexible spending accounts – need...

Publication/Podcast

Courts Expand on Rules Regarding the Protection of Retirement Plan Assets

Blog

Health Plans: PCORI Fee Is Due August 1, 2022

What is the PCORI Fee? The Affordable Care Act created a non-profit corporation, the Patient-Centered Outcomes Research Institute (“PCORI”), to conduct research to help individuals, providers, and policymakers make better healthcare choices by advancing...

Blog

Department of Labor Guidance and Federal Initiatives Counsel a Wait-and-See Approach for 401(k) Plan Fiduciaries Interested in Cryptocurrency Options

On March 10, 2022, the Department of Labor published Compliance Assistance Release 2022-01, 401(k) Plan Investments in “Cryptocurrencies” . The Release strongly discourages the addition of cryptocurrency (and other digital asset) options to the...

Matter

Advised Fortune 500 Company on Group Health and Welfare Benefit Plans

We were engaged by a Fortune 500 manufacturing company to provide legal and compliance services regarding its group health and welfare benefit plans. During the course of our representation, we have advised the company...

Blog

IRS Announces New Pilot Program for Retirement Plan Audits

On June 3, 2022, the Internal Revenue Service (“IRS”) announced a new pre-examination compliance pilot program beginning in June 2022. Under the pilot program, the IRS will notify a plan sponsor by letter that...

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