Our attorneys are experienced in dealing with employee benefit matters in mergers and acquisitions, ERISA litigation, tax qualification of pension plans with Puerto Rico tax authorities, correction proceedings with the U.S. Department of Labor, and other complex pension and deferred compensation arrangements for employees and other individuals.
We take a hands-on approach on counseling clients about the technical operations of tax qualified pension plans, including assisting in tax reporting with local and federal authorities and performing and reviewing various coverage and discrimination testing, as well as compliance with ongoing statutory amendments of applicable local and federal statutes.
We assist employers on a wide array of matters in this area, including:
- Plan design, implementation, administration, and technical operation of tax qualified retirement plans
- Tax reporting with local and federal authorities and filing for plan’s tax exemptions.
- Performing and reviewing various coverage and discrimination testing
- Drafting plan amendments for compliance with on-going statutory amendments
- Merger and transfer of assets between pension plans
Representative Matters and Transactions
- Provided legal counseling on the transfer and set-up process of pension and welfare benefits plans to global industrial conglomerate upon its separation into three independent industry-leading public companies focused on aerospace, healthcare, and energy.
- Advised multinational energy conglomerate in employee benefits acquisition and merger of tax-favored employer benefit programs for Puerto Rico and other Caribbean markets.
- Served as Puerto Rico exclusive employee and benefits matters counsel for international healthcare company in business separation of pharmaceutical and medical devices divisions into two separate Fortune 500 companies.
- Served as local counsel for a major financial services firm with recent ERISA fiduciary duties requirements and compliance matters for tax-favored retirement products.
Recognition
- Since 2012, our firm’s Tax Practice Group has been ranked as one of the leading tax law groups in Puerto Rico by Chambers & Partners’ Global and Latin America Guides.
