Since the mid-1970s, our firm has gained a great deal of experience drafting individually designed plan documents for 401(k) plans, profit sharing plans and employee stock ownership plans. Scarborough, McNeese, O'Brien & Kilkenny also is the sponsor of volume submitter plans, pre-approved by the Internal Revenue Service, which allows our firm to draft and/or revise all plan and related documents quite cost efficiently. Where appropriate, we assist our clients by structuring qualified plans designed to maximize contributions for highly compensated employees while minimizing costs for staff.
Scarborough, McNeese, O'Brien & Kilkenny also has extensive experience in the design, drafting and implementation of a number of types of non-qualified deferred compensation plans for company executives, and the funding vehicles used for those plans. As non-qualified plans, careful attention must be given to plan structure in order to provide maximum flexibility in both the timing and form of distributions while avoiding early taxation to participants due to various constructive receipt tax principles.
Scarborough, McNeese, O'Brien & Kilkenny also advises a number of our clients with the utilization and structuring of cafeteria plans, the drafting of plan documentation and participant enrollment forms and materials, and compliance with the non-discrimination rules and other laws applicable to such plans.