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Correction of Errors and Drafting of Plan Documentation under Section 409A Clarified- IRS Notice 2010-6 Released
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Louis R. Richey, JD
Senior Vice President
McCamish Systems, LLC
Mr. Richey is an attorney by training & currently Senior Vice President with McCamish Systems LLC, an Infosys Company in Atlanta, Georgia. McCamish Systems is one of the nation’s leading providers of outsourced marketing, administrative and other back-office support for life insurance carriers and other major financial services organizations, like banks and brokerage companies. Infosys is a $4.6 B global IT and BPO company. Mr. Richey helps lead the McCamish Retirement Services Group.
Mr. Richey is the legal & content expert for all of McCamish’s executive and employee benefit web-based marketing, design and plan administration platforms (which platform usage makes McCamish the largest nonqualified plan TPA in the US today, based upon the report of its clients in PlanSponsor). However, Lou is widely known as a financial & executive benefits products and services marketing innovator, and author. He is also recognized as an experienced executive and employee benefits attorney, with special expertise on 409A nonqualified deferred compensation plans and other retirement plans, with over 30 year’s experience in executive and employee benefits compensation consulting, planning and insurance for Fortune 1000 public, closely held and tax-exempt organizations and their employees. At earlier points in his career, Mr. Richey served as a senior marketing officer, or technical compensation & senior consultant with employers like American Express Company, the General American Life Insurance Company, William M. Mercer, Magner Network & several offices of the Management Compensation Group (MCG) and M Group.
He is a graduate of Wabash College in Indiana, a cum laude graduate of the Indiana University Law School in Indianapolis, and a member of the Indiana Bar and the Federal Bar of Southern Indiana. He was trained as a Baldrige Quality Award judge in 1992. He is also a retired Chairman of the Board of Visitors of the Indiana University Law School, Indianapolis. He has been named a Kentucky Colonel and an Arkansas Traveler in recognition of his professional contributions to the legal profession.
Mr. Richey lectures widely on the impact and implications of 409A, executive and employee benefit topics, retirement planning, financial services marketing, insurance, and financial planning, including major conferences and institutes like the New York University Federal Tax Institute (2X), Southwest Federal Tax Conference, Notre Dame Estate Planning Institute (2X), the American Society of Actuaries Annual Conference (2X) and the LIMRA Advance Sales Conference (5X), and a host of other financial industry conferences and meetings.
Mr. Richey’s comments have appeared in Business Week, The Wall Street Journal, Forbe's Magazine, and Investor’s Daily, and he has appeared on the Financial News Network for National Public Radio. He has authored or co-authored a number of books, and BNA portfolios, plus more than 300 articles, audios and videos on compensation and tax topics.
Lou is widely known for helpful practice-oriented books, including The Nonqualified Deferred Compensation Advisor (Plans Created Under 409A), 4th Edition, which is available from the National Underwriter Company, and BNA Tax Management Portfolios #386 4rd, and #282 2nd, entitled, Compensating Employees with Life Insurance. In the past 18 months, Mr. Richey has since authored or co-authored four major articles on 409A nonqualified deferred compensation plans, and one on Code Section 101(j) requirements governing employer-owned life insurance. In the 1980’s, the Internal Revenue Service even used one of his published articles in training materials for its own estate and gift tax agents and attorneys.
Eric R. Keller
Partner
Paul, Hastings, Janofsky & Walker LLP
Eric Keller is a partner in the Paul Hastings Employment practice and represents clients in all aspects of executive compensation and employee benefits law. In this regard, he advises clients regarding tax, labor (including ERISA), financial accounting, securities, and litigation issues. He designs and prepares plan documents and participant communications, negotiates service-provider contracts, and assists clients in developing and operating efficient and prudent plan administration practices.
Mr. Keller often advises clients on employment and employee benefits matters in connection with business transactions by conducting due diligence, negotiating and preparing contract provisions, addressing transitional issues, and developing strategies to minimize financial expense and taxation.
A substantial portion of his practice is devoted to the design and administration of tax-qualified retirement plans. He frequently advises plan fiduciaries how to reduce their risk of fiduciary liability for plan investments and represents sponsors of employee benefit plans in voluntary compliance programs maintained by the Internal Revenue Service and the Department of Labor.
In the executive compensation area, Mr. Keller advises boards of directors and compensation committees on how to design and implement executive compensation arrangements that comply with Sarbanes-Oxley, stock exchange listing requirements, securities disclosure requirements, and other corporate governance standards.
In the employee welfare benefit plan area, he has been chiefly responsible for advising firm clients on HIPAA privacy compliance for group health plans, as well as Health Reimbursement Accounts (HRAs), Health Savings Accounts (HSAs) and other consumer-driven health plan designs.
Mr. Keller represents plan fiduciaries in administrative claim disputes with participants and contractual disputes with service providers.
Mr. Keller writes and speaks frequently on employee benefits topics. He is a speaker for the Practicing Law Institute, the Employee Benefits Institute of America and PLANSPONSOR.
To give clients an opportunity to participate in legislative and regulatory developments in Washington, Mr. Keller is member of the Employee Benefits Committee of the U.S. Chamber of Commerce.
Mr. Keller received his B.B.A. in accounting and finance from Ohio University (cum laude). He received his J.D. from Capital University Law School (magna cum laude), where he served as editor-in-chief of the Capital University Law Review. He received his LL.M. in taxation from New York University School of Law. Before practicing law, Mr. Keller served as law clerk to the Honorable Maurice B. Foley, United States Tax Court. He is admitted to the bars of the District of Columbia, Ohio (inactive), and the United States Tax Court.
Regina Olshan
Partner, Executive Compensation and Benefits
Skadden, Arps, Slate, Meagher & Flom LLP
Regina Olshan’s practice focuses on advising companies, executives and boards on navigating the regulatory complexities of executive compensation and benefits. Ms. Olshan regularly advises public companies, boards, private equity clients and members of management on these issues, including those arising in the context of major corporate transactions. She is the author and editor of the forthcoming Section 409A Treatise, to be published by BNA, lectures frequently on executive compensation issues, and has been quoted in various major publications on issues arising under Internal Revenue Code sections 409A and 457A, and other executive compensation matters.
John W. Boyd
Counsel
Baker and Hostetler LLP
John W. Boyd has over twenty years of experience advising clients on a wide variety of employee benefits matters, including qualified and non-qualified retirement plans, welfare benefit plans and related tax and fiduciary issues. He has counseled clients serving as trustees and in other fiduciary capacities. He has also advised plan sponsors in connection with ongoing plan administration and on due diligence in merger and acquisition activity.
A graduate of Case Western Reserve University School of Law and Allegheny College, Mr. Boyd is a member of the American, Ohio and Cleveland Metropolitan Bar Associations. He is also a member of the Steering Committee for the Cleveland Chapter of the Worldwide Employee Benefits Network (WEB) and has previously served as its Treasurer.
Correction of Errors and Drafting of Plan Documentation under Section 409A Clarified- IRS Notice 2010-6 Released
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