Starting Area/Sector information

Helping clients stay competitive by structuring compensation packages that deliver tax-favourable results for employers and executives.

The Clifford Chance ERISA and Executive Compensation Group takes a pro-active and value-adding approach to helping clients achieve their goals.

Our partners and associates are widely recognized as leading specialists in the comprehensive regulatory scheme under ERISA (the US Employee Retirement Income Security Act 1974) and the related provisions of the US tax code. We offer top-tier specialist expertise combined with a keen commercial perspective.

The group serves clients in a wide range of industries - including financial services, real estate and private equity investment. Extensive experience of a broad range of market practices underpins the group’s advice in a variety of business-critical situations, including:

  • Developing tax-efficient compensation solutions that deliver a coordinated, comprehensive program of retirement, health and welfare, fringe benefits and executive arrangements.
  • Providing transaction and other support on mergers and acquisitions, bankruptcy and indulgency proceedings and credit facilities.
  • Representing high-level executives in negotiations for their employment contracts and related compensatory plans.
  • Providing sophisticated advice on compliance with ERISA’s complex fiduciary requirements.

Employee benefits

The group’s ERISA expertise is extremely broad, covering virtually all aspects of profit-sharing, pension and other retirement plans (both “single employer” and “multi-employer”) and employee stock ownership plans.

Executive compensation services

The group regularly assists with the strategic and technical development of compensation plans and programs. We help clients put together a comprehensive program of retirement, health and welfare, fringe benefit and executive arrangements. We have extensive experience with:

  • employment contracts
  • stock option and other plans providing for equity-based compensation
  • “golden parachute” arrangements
  • supplemented executive retirement plans and other deferred compensation plans.

ERISA fiduciary advice

ERISA’s guidelines raise important and complex fiduciary and structuring questions for private pension plan investors and the sponsors of large investment funds.

Because of our substantial general experience of working with investment funds, the group has built up a highly specialized working knowledge of ERISA’s rules on fiduciary duties. We apply this knowledge to advise investors, sponsors and financial services organizations on ERISA-related fiduciary and tax issues that may arise from pension fund investments.

Our advice covers:

  • Matters relating to potential “prohibited transaction” and other fiduciary issues under ERISA and the tax rules.
  • Applying the ERISA “plan asset” regulations.
  • Structuring employee benefit plan investments, including securitisations and other complex financial products.
  • Providing litigation support services for ERISA-related cases, including class actions.

Members of the group are ranked among the leading authorities on ERISA and are in demand as commentators in the national and international business press. The group maintains an energetic publishing and lecturing schedule.