Helping Our Clients Attract and Keep Top Talent.
Attracting and retaining skilled employees is no easy matter in today’s hypercompetitive marketplace. Milbank's Compensation and Benefits Group helps businesses, boards and individuals craft the executive compensation and employee benefits arrangements that help attract and keep top talent. We also advise clients in regards to the regulations that govern the investments of benefit plans.
Executive Compensation
We maintain a broad practice in executive compensation, representing corporations, financial institutions, boards of directors, individual executives and management groups. Our practice includes employment, change in control and separation arrangements, equity and other incentive compensation, deferred compensation programs and director compensation. We help our clients comply with tax and employee benefits law, as well as federal securities laws and disclosure requirements.
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Employee Benefits
We have a long-standing practice in the area of employee benefit plans, including pension and welfare plans subject to the Employee Retirement Income Security Act of 1974. Our clients look to us for advise on defined benefit plans, cash balance plans, 401(k) plans and Employee Stock Ownership Plans. Our expertise in the welfare plan area includes retiree medical programs and Voluntary Employee Beneficiary Associations. We also advise clients with respect to plan design, legal compliance, funding requirements, reporting and disclosure, fiduciary rules and claims and disputes. Additionally, we have expertise in handling ERISA litigation matters together with our Litigation & Arbitration Group.
Fiduciary Responsibility
We regularly advise clients with respect to the fiduciary responsibility and prohibited transaction provisions of ERISA and the Internal Revenue Code. We have advised both financial institutions and plan investment managers regarding the fiduciary responsibility, plan asset and prohibited transactions issues relating to various types of investments by benefit plans, including debt and equity offerings, private placements, structured notes, hybrid securities and various types of investment funds.
Compensation and Benefits in M&A, Finance and Bankruptcy
We coordinate closely with our Corporate, Finance and Financial Restructuring Groups. Our expertise includes handling the executive-compensation and employee-benefits issues that arise in the context of M&A transactions, IPOs and other corporate transactions. We advise and render opinions in connection with ERISA matters for pension plan investments and finance transactions. We are regularly involved in corporate restructurings and bankruptcy matters, including representing clients before the Pension Benefit Guaranty Corporation in pension plan distress situations.