Kelly L Bley

Partner
  • T 215.252.9523
  • Employee Benefits and Executive Compensation

    • Drafted plan documentation, corporate documentation and new fiduciary structures for original and spin-off companies for client that split up into three separate, publicly traded companies
    • Strategized and drafted documentation for benefits harmonization for corporate mergers involving large companies with multiple benefit plans
    • Drafted and implemented conversion of existing pension plan into a contributory plan
    • Analyzed cash balance and other hybrid plan issues, and drafted documentation for same
    • Advised client regarding PBGC Early Warning Program participation, and worked directly with PBGC on behalf of client
    • Advised clients regarding DOL and IRS audits, and worked directly with regulators to resolve audits and investigations
    • Regularly presented before administrative and investment fiduciary committees
    • Run claims and appeals process for plan administrator, including analysis of claim files, drafting of summary, presenting to committee and drafting of claim decision letters
    • Set up pension plan de-risking programs, such as lump sum windows
    • Draft and review employee communications regarding plan changes, ERISA-required documentation
    • Assisted clients with the freezing of pension plans
    • Addressed company stock issues for 401(k) plan; terminated company stock fund as an investment option, and provided guidance and documentation permitting same
    • Filed delinquent filer program filings with the DOL and analyzed necessity of various DOL correction programs
    • Coordinated and completed IRS 401(k) Compliance Check Questionnaire, a 46-page survey requiring extensive data manipulation and coordination across departments and business lines; failure to complete the questionnaire was 100 percent certain to result in an IRS audit for the client
    • Successfully obtained compliance statement under the IRS voluntary correction program for defined contribution plan with complicated operational compliance issues
    • Prepared and submitted favorable determination letter filings to the IRS, and successfully negotiated with IRS agents regarding the tax-qualified status of retirement plans during the determination letter process
    • Advised clients on the ability to use the IRS self-correction program
    • Advised clients on transition to new service provider, including the transfer of assets from various annuity contracts
    • Assisted clients on the termination of plans
    • Merged acquired plans into existing 401(k) plans, and performed benefits, rights and features/benefits preservation analysis
    • Designed plan administration manual for client, which provides all forms, notices and procedures for the day-to-day administration of pension plan
    • Prepared and revised materials relating to duties and responsibilities of plan fiduciaries
    • Drafted plan documents, plan amendments for compliance and plan design issues, summary plan descriptions, summaries of material modifications and various required employee notices
    • Analyzed third-party administrator (TPA) plan administration manual, during the course of which a number of operational issues were discovered and addressed