Practice Areas

Representative Matters: Retirement Plans

Our retirement plans practice is as diverse as it is distinguished. Our representative matters include the following:

  • A group-based profit-sharing plan for a leading international intellectual property law firm designed to provide certain key attorneys, management and long-term staff employees with larger retirement benefits than others.
  • A 401(k) profit-sharing plan and defined benefit plan for a major paint manufacturer that was acquired by a Fortune 500 company. The 401(k) plan provided benefits for the younger employees, while the defined benefit plan rewarded the older, long-term employees by providing them with a stream of retirement income throughout their lifetimes.
  • A safe harbor 401(k) and defined benefit plan for a major automotive trade association. The safe harbor feature allowed highly compensated employees to make the maximum 401(k) contribution without the need for discrimination testing. We discovered significant overfunding in their defined benefit plan subsequent to a merger that had been unnoticed for several years before we became counsel.
  • A cash benefit plan and a 401(k) plan for a major insurance trade association. Paley Rothman worked closely with the association and its actuaries to ensure that contributions to long-term employees were maintained to the greatest extent possible and assisted in the development of communications fostering understanding among employees of the association’s efforts in securing these benefits for them.
  • A defined benefit plan designed to provide a significant stream of income during retirement for the founder of an internationally renowned, family-owned lighting consulting firm as well as retirement benefits for the succeeding generation working in the business.
  • A defined benefit plan designed to provide a significant stream of income during retirement for the founders of a major family-owned real estate investment firm active in D.C., MD, and VA, as well as retirement benefits for the succeeding generation working in the business.
  • A cash balance plan designed to supplement a 401(k) profit sharing plan to maximize contribution amounts for key partners and employees of an international law firm based in Manhattan.
  • An individually tailored 401(k) rate grouped plan for Virginia-based medical practice employing more than 600 individuals designed to maximize retention and recruitment.
  • An IRA benefits trust and a multiple-page beneficiary designation for significant retirement plan and IRA benefits that was tied into the client’s multi-generational estate plan, the plan assets of which represented the bulk of the owner’s estate.

News

March 21, 2023

Michelle Chapin’s Article on the Use of Arbitration Causes in Trusts is Published by the MSBA’s Estate & Trust Law Section

Michelle Chapin, a Principal in Paley Rothman’s Estate Planning department, authored an article titled "(Un)Enforceability of Arbitration Clauses in Maryland Trusts" in the MSBA's Estate & Trust Law Section Newsletter Volume 29 Issue 1.

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Blog

Sec. Deb Haaland – First Native American in the Cabinet

Sec. Deb Haaland is the first Native American to serve in the President’s cabinet and has been instrumental in bringing attention and action to the horrific incident rate of...

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Awards

Paley Rothman is delighted to announce that 14 of the firm’s attorneys have been named Maryland Super Lawyers and Rising Stars for 2023. Family Law attorney Glenn Cooper was ranked the Number 1 Lawyer in Maryland. Both Glenn and Litigation attorney Trish Weaver were named in the Super Lawyers Top 100 List and Trish was honored in the list of Top 50 Women.

For the 11th year in a row, Paley Rothman earned national and local honors in U.S. News - Best Lawyers® 2023 "Best Law Firms" rankings.

Paley Rothman is pleased to announce that 19 lawyers have been selected in the 2023 Edition of The Best Lawyers in America. Jennifer Pope was named Best Lawyers: Ones To Watch for the first time alongside attorney Hayes Edwards. Attorneys Glenn Cooper, Hope Eastman, and Daniel Hodin have been listed Best Lawyers for 15 consecutive years.

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