Biography

Kimberly has practiced exclusively in the area of employee benefits and executive compensation for more than 30 years. Clients look to her for technical and practical experience, and sound business judgment.

Kimberly advises for-profit and nonprofit employers on employee benefits and executive compensation matters, including qualified and non-qualified retirement plans, executive compensation, welfare benefit arrangements, incentive plans, and fiduciary issues. Her experience includes designing and drafting plan documents and employee communications, implementing and terminating programs, and compliance in all aspects of ERISA and tax laws.

Assisting clients with ERISA fiduciary compliance is a key aspect of Kimberly's work. She advises and provides fiduciary education to boards, investment committees, and officers; drafts committee charters, resolutions, and meeting minutes; reviews investment policy statements; and assists with internal audits. She also helps clients avoid, prepare for, and respond to Department of Labor, IRS, and PBGC plan audits and drafts submissions for governmental voluntary correction programs.

Kimberly works extensively with welfare plans, including self-insured health plans, cafeteria plans, and wellness programs, drafting plan documents and providing guidance on the Affordable Care Act, HIPAA, and COBRA. She also prepares HIPAA privacy manuals and provides in-house HIPAA training for clients.

A significant part of Kimberly's practice involves defined benefit pension plan issues, including the implementation of early retirement windows, and other reduction in force programs, lump sum windows and annuity purchases to de-risk liabilities; drafting plan amendments and employee communications; and preparing government filings with respect to plan mergers, spin-offs, and terminations. She works with single employer plans, multiple employer plans, and multi-employer plans.

While Kimberly works with a wide range of domestic and international clients, she has worked extensively with benefit plans for tax-exempt employers and employers in the energy industry.

Outside the office, Kim is an avid skier and baseball fan. She enjoys spending time with her two sons, running with her dog, practicing yoga, and reading classics.

Services/Industries

Education

  • The George Washington University Law School  (J.D., With Honors)
    • Phi Alpha Delta
    • Vice Chair, Van Vleck Moot Court Board
  • University of Vermont  (B.A., cum laude)

Bar Admissions

  • Washington, D.C.
  • Maine

Memberships

  • Maine State and American Bar Associations: Section of Taxation, Employee Benefits (subcommittees on Defined Benefits Plans, Welfare Plan Design and Funding, and Exempt Organizations and Governmental Plans)
  • New England Employee Benefits Council

Honors

  • Chambers USA: America's Leading Lawyers for Business under Labor & Employment: Employee Benefits & Compensation
  • Listed in The Best Lawyers in America© for Employee Benefits (ERISA) Law in Portland, Maine

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

Firm Highlights

Blog

When Cash is not King: Holiday Gifts as “De Minimis” Fringe Benefits

To celebrate the holiday season, this post highlights the tax consequences of employer-sponsored holiday perks such as gift cards, turkeys, hams and gift baskets. Under the current tax rules, employers may give infrequent low...

Blog

ERISA Section 404(c) Protection: A Refresher for Fiduciaries

The Employee Retirement Income Security Act (“ERISA”) imposes both (i) significant responsibilities on fiduciaries of participant-directed individual account plans, including 401(k) plans, and (ii) personal liability for losses suffered by a plan if those...

Blog

New IRS Determination Letter Program for 403(b) and 401(a) Plans

On November 7, 2022, the IRS issued Revenue Procedure 2022-40 , which allows certain tax-exempt employers (such as schools, charities, and churches) to apply for IRS determination letters on their individually designed section 403(b...

Blog

Next Steps for Making Collective Investment Trusts Available to More Retirement Plans

Collective investment trusts (“CITs”) have become an increasingly popular choice for 401(k) plan investment menus over the past decade, consistent with a trend toward lower-cost investment options that has been driven, in part, by...

Blog

401(k) Plan Matching Contributions: To True Up or Not True Up?

As a matter of plan design, for purposes of matching contributions some 401(k) plans provide that a participant’s compensation for the entire plan year is taken into account (regardless of whether the participant makes...

Blog

IRS Guidance Expands Access to ACA Premium Tax Credit, Allows Cafeteria Plan Sponsors to Permit Employees to Revoke Family Coverage Mid-year

Final Regulations under Section 36B of the Internal Revenue Code On October 11, 2022, the Internal Revenue Service (IRS) issued Final Regulations under Code Section 36B relating to eligibility for the Affordable Care Act’s...

News

77 Verrill Attorneys Recognized by Best Lawyers® 2023, Including Six Named Lawyers of the Year

Blog

Pension-Linked Emergency Savings Accounts: Something Old, Something New, Something Borrowed, Something Forthcoming

Following the initial flurry of publications summarizing the retirement plan enhancements under the SECURE 2.0 Act of 2022 (“SECURE 2.0”), this post takes a deeper dive into one of those enhancements: the optional “pension-linked...

Blog

A Last-Minute Gift – Prescription Drug Reporting Grace Period and Good Faith Relief

In a move akin to last-minute gift-giving, the Departments of Labor, Health and Human Services, and the Treasury (the “Departments”) released FAQ 56 on December 23, 2022, which provides relief regarding the Prescription Drug...

Publication/Podcast

Amending Your Retirement Plans this Year for SECURE Act and CARES Act Changes

This post was updated on September 29, 2022. On August 3, 2022, the IRS extended the deadline for retirement plan sponsors to adopt amendments necessary to comply with the Setting Every Community Up for...

Contact Verrill at (855) 307 0700