ERISA, Pension and Employee Benefits in Puerto Rico
The adoption and qualification of pension and employee benefit plans in Puerto Rico requires careful planning to comply with the applicable rules of Puerto Rico and U.S. tax law, as well as the Employee Retirement Income Security Act of 1974 (ERISA) since employee benefit plans in Puerto Rico are generally subject to Title I of ERISA.
At Adsuar Muñiz Goyco Seda & Perez-Ochoa, P.S.C., we assist employers, plan fiduciaries and service providers with the design, adoption and compliance required for the successful administration of employee benefit plans. Among other, we assist our clients with:
Plan documentation for retirement programs, including 401(k) plans and Keogh type plans, IRAs, statutory and non-statutory stock options, stock purchase plans, and deferred compensation arrangements.
Plan documentation for welfare programs, such as cafeteria plans, flexible benefit plans and health reimbursement arrangements.
Filings at Puerto Rico and U.S. government agencies, including the Puerto Rico Treasury Department, the U.S. Internal Revenue Service, the U.S. Department of Labor, and the Pension Benefit Guaranty Corporation.
ERISA litigation and counseling.
Plan administration and compliance with fiduciary responsibility.
Drafting and execution of agreements with plan fiduciaries and service providers.
Amendment and restatement of plan documentation to comply with applicable legislation and regulations.
Legal and tax considerations of mergers and acquisitions.
Handling of qualified domestic relations orders (QDRO) and other orders under ERISA.
Claims procedures and civil actions regarding employee benefit plans.
Pension and welfare programs under Collectively Bargained Agreements.
Non-qualified plans.
Interplay of these plans with government programs, such as the U.S. social security and Medicare, and the Puerto Rico unemployment, disability and workmen's compensation insurance.
César R. Rosario-Vega heads our pension and employee benefits department. In addition to extensive experience, Cesar has a master's degree in Taxation Law from New York University.
For more information on how we can resolve your firm's pension and employee benefits legal challenges, feel free to contact Adsuar Muñiz Goyco Seda & Perez-Ochoa, P.S.C.
