Ice Miller's Employee Benefits Group assists employers in designing and implementing retirement plans that accomplish the employer's objectives, are appropriate for the employer's workforce, and are cost effective.
Tax laws provide powerful incentives for employers to establish tax qualified retirement plans and for employers and employees to contribute to those plans. The Employee Benefits Group helps employers take advantage of those incentives, while establishing retirement programs that efficiently provide important retirement benefits. We also help employers in explaining their retirement plans to participants so that the plans are properly utilized and appreciated. We have helped establish and implement all types of retirement plans, including traditional defined benefit plans, cash balance plans, profit sharing plans, 401(k) plans, target benefit plans, and employee stock ownership plans (ESOPs). For eligible tax-exempt and governmental employers, we have helped establish and implement 403(b), 457(b), and 501(c)(3) plans.
Once a plan has been established, we work with employers to assure that the plan continues to meet its objectives and to satisfy applicable tax and other legal requirements. The Employee Benefits Group also assists employers in providing participant communications that satisfies applicable legal requirements and assure that participants appreciate their retirement plan. Retirement plans are subject to complex legal requirements. We make sure that employers and others who provide services to retirement plans understand their legal obligations and the impact of legal and regulatory changes on those obligations.