Biography

Karen partners with employers of all sizes on a broad range of employee benefit plan design, drafting, implementation, and operational matters.

Karen's practice focuses on advising clients on their group health benefits, including cafeteria plans, self-insured plans, consumer-directed/HDHPs, HRAs, and HSAs, and providing guidance on HIPAA, COBRA, and Affordable Care Act (ACA) compliance. She also has significant experience working with defined contribution and defined benefit pension plans, with particular experience in de-risking plans, terminating plans, filing voluntary correction submissions with the Internal Revenue Service (IRS) and Department of Labor, handling benefit claim disputes, and drafting and reviewing QDROs.

Employers turn to Karen for creative and straightforward solutions to complex issues surrounding retirement plans, health care benefits, and taxation. They rely on her to explain all the possible strategies and solutions in clear terms, and to organize a step-by-step plan of action. Her diligent, thoughtful approach assures clients that, together, they can successfully steer through any challenge and reach a beneficial resolution.

Karen's representative matters include:

  • Terminating multiple defined benefit pension plans for a client, and navigating the almost two-year, highly government-regulated process—from seeking agency approvals to making distributions to participants—of removing millions of dollars of volatile retirement liability from the company's books
  • Harmonizing the health and welfare benefit offerings of two large companies following their merger, including rewriting plan documents and employee communications
  • Assisting a client in adding employer stock as an investment offering under its 401(k) plan, which involved amending the plan document and expanding the plan's summary plan description to comply with ERISA, the Internal Revenue Code, and Securities and Exchange Act regulations; and providing education and advice on the fiduciary implications of holding company stock in an ERISA-governed plan
  • Responding to the Internal Revenue Service's proposed six-to-seven-figure penalty assessments under the employer shared responsibility provisions of the ACA for multiple clients and negotiating for significantly reduced to no penalty
  • Submitting a voluntary correction application to the IRS on behalf of a client that mistakenly excluded certain groups of employees from its qualified retirement plan; Karen's rapid response permitted the client to significantly reduce the amount of corrective contributions it was required to make, while protecting its plan's tax-qualified status for the future

Karen currently serves on the firm's Diversity Committee and is the immediate past Chairperson of the Associate Development Committee.

A native Mainer, Karen thoroughly enjoys the outdoors through all seasons with her husband, two boys, and a very energetic soft coated wheaten terrier.

Services/Industries

Education

  • University of Maine School of Law  (J.D., cum laude)
    • Editor, Maine Law Review
  • Wesleyan University  (B.A.)

Bar Admissions

  • Maine

Memberships

  • Maine State Bar Association
  • Maine Employee Benefits Council
  • New England Employee Benefits Council

Honors

  • AV® rated by Martindale-Hubbell
  • Listed in The Best Lawyers in America© for Employee Benefits (ERISA) Law in Portland, Maine
  • Selected by peers for inclusion in New England Rising Stars© under Employee Benefits

To learn more about third-party ratings and rankings, and the selection processes used for inclusion, click here.

Firm Highlights

Blog

DOL Guidance on Missing Pension Plan Participants

The Department of Labor (“DOL”) has undertaken a nationwide compliance initiative to ensure that retirement plan participants receive the benefits that they were promised when they reach their retirement age. To that end, the...

Publication/Podcast

Employee Benefits & Executive Compensation 2020 Year-End Client Advisory

Click here to view as a PDF . This Client Advisory highlights important developments in the law governing employee benefit plans over the past year. It offers insight into what these developments mean for...

Blog

December 31 Sunset of Safe Harbor Correction Method for Certain Elective Deferral Failures

A special IRS-approved correction method available for elective deferral failures in 401(k) and 403(b) plans with automatic contribution features will sunset on December 31, 2020, meaning it will not be available to correct elective...

Blog

Reporting Deferred Compensation on Form 990

Tax-exempt organizations often provide deferred compensation to their officers, key employees, and most highly compensated employees. Like current compensation payable to such employees, deferred compensation must be reported annually on Form 990, Schedule J...

Blog

Supreme Court Declines to Address Pleading Standards in Stock-Drop Litigation - Retirement Plans Committee of IBM v. Jander

On November 9, 2020, the Supreme Court declined to consider an appeal from the Second Circuit Court of Appeals in Retirement Plans Committee of IBM v. Jander , leaving unresolved for now questions about...

Blog

New IRS Guidance Will Help Facilitate 403(b) Plan Terminations

With the publication of Revenue Ruling 2020-23 , the IRS completed a cycle of helpful guidance regarding the termination of 403(b) plans that began with the publication of regulations under Code Section 403(b) in...

Blog

Employee Benefits & Executive Compensation 2020 Year-End Client Advisory

Blog

Target Date Funds: Are You Asking the Right Questions?

Eight years ago, the U.S. Department of Labor (“DOL”) issued “tips” for retirement plan fiduciaries to consider when selecting and monitoring target date retirement funds (“TDFs”). At the time, the DOL noted that TDFs...

News

Nearly 80 Verrill Attorneys Recognized by Best Lawyers® 2021, Including a Dozen Named Lawyers of the Year

(August 24, 2020) – Nearly 80 Verrill attorneys were recognized as "Best Lawyers" by Best Lawyers® 2021 , including 12 attorneys named “Lawyer of the Year,” a distinguished recognition for only a single lawyer...

Blog

Consolidated Appropriations Act of 2021 Includes Flexible Spending Account Relief

The Consolidated Appropriations Act of 2021 (the “Act”) was signed into law on December 27, 2020. Buried within its 5,593 pages is some welcome flexibility relating to 2020 and 2021 health care and dependent...

Contact Verrill at (855) 307 0700