Background
This major transportation company offers integrated transportation services including rail, intermodal, trucking, freight forwarding, warehousing, and distribution. Just as this company delivers goods to its customers, it looks to deliver a coordinated and comprehensive employee benefits and executive compensation (EBEC) strategy to its employees.
Transportation Team Involvement
While some clients are new to EBEC, this company has more than 25 years of experience putting these types of programs in place. With a great deal of expertise internally, the company sought equally experienced counsel. Freeborn & Peters committed a small but deep team to partner with this client in four specific areas of need: Executive compensation, qualified retirement plans, health and welfare plans, and courtroom-related issues. Each member of the Freeborn team understood the client's unique issues involving a large North American workforce, including an extensive unionized population.
Results
The transportation company's employee benefits and executive compensation program was reviewed, expanded and revised with Freeborn & Peters' assistance in each of its areas of need:
- Executive Compensation. Freeborn & Peters works with nonqualified retirement plans, executive employment agreements, severance, non-compete and non-solicitation agreements, executive medical arrangements, life insurance, and other programs.
- Qualified Retirement Plans. We cover the company's defined benefit and defined contribution plans, including preservation of tax qualification and troubleshooting on various plan interpretation issues such as disability related questions, RRB benefits interaction, compensation crediting issues, and benefit accrual variations.
- Health and Welfare Plans. Freeborn & Peters provides advice and counsel related to healthcare reform compliance, comprehensive plan and summary plan description preparation, HIPAA privacy and security counseling, COBRA issues, and more.
- Courtroom-Related Issues. We assist with matters arising under domestic relations orders, subrogation matters and disputes, benefit claim and payment issues, etc.
