ERISA
ERISA Litigation
ERISA litigation involves administrative agencies and courts. Cases are almost always in federal court. The ERISA Bar is relatively small. The attorneys tend to know each other and behave in a civilized and friendly manner. Day-to-day work consists mostly of research and writing. ERISA trials often do not involve any dispute of fact, so trials are often held on a written record and not conducted live in court. There is no examination of witnesses and discovery is very restricted and there are few, if any, depositions.
ERISA Counseling
This practice involves employee benefit plan drafting and requires an understanding of code provisions. Similar to tax practice in that much is governed by codes. There has been increased scrutiny of pension plans and 401(K) plans since Sarbanes-Oxley. These attorneys often support M&A departments. This support involves review of seller’s plans for funding/diligence/compliance issues and review of buyer’s plans for integration/comparison purposes.
Executive Compensation
This is a very rule-driven practice (securities, tax, corporate and accounting rules). These attorneys are usually part of the employee benefits or tax practice. This practice is rather lawyerly, less business-like. Since Sarbanes-Oxley, shareholders have sued over allegedly excessive compensation.
