Boardman & Clark LLP—Banking Group

Fourth Floor, 1 South Pinckney St. • Madison WI 53703 TEL: (608) 257-9521 FAX: (608) 283-1709

Services and Practices

No other law firm has more experience with Wisconsin banking law than the Boardman Banking Group

Employee Benefits And Plans


The Banking Group advises clients on a broad spectrum of benefits issues for employees at all levels of their organization. We guide you through the issues arising under banking, tax and employee benefit laws and regulations, and can assist you with structuring, drafting and implementing your plans. On an ongoing basis, we can help ensure compliance with ERISA, COBRA, and HIPAA, as well as with tax and securities laws affecting your plans, and assist you in negotiating with your plan service providers.

We are available to prepare and review summary plan descriptions, qualified domestic relations orders (QDROs), and Form 5500 and other governmental filings. We work with federal and state administrative agencies, including the IRS, Department of Labor, Wisconsin Department of Revenue, and other agencies to obtain determination letters, private-letter rulings, funding waivers, prohibited transaction exemptions and advisory opinions.

We also assist clients with performing due diligence reviews of employee benefits in connection with mergers and acquisitions, as well as for preparing securities disclosures, and we draft benefits provisions in connection with corporate transactions (such as mergers and other business combinations/reorganizations). When necessary, we represent our clients in litigation and administrative proceedings involving ERISA-related claims, including fiduciary liability, preemption, reporting, disclosure and notification requirements, plan termination and ERISA discrimination and related federal statutory claims.

We help our clients design, implement and administer a wide range of retirement, welfare and other plans, including the following:

  • Qualified retirement including:
    • profit-sharing
    • 401(k), including safe harbor 401(k)s
    • defined benefit plans
    • Employee stock ownership plans (ESOP), including:
      • advising on ESOP loans,
      • impact of mergers and other corporate transactions on ESOP,
      • pass-through tender rights,
      • diversification, and
      • combinations with other ESOPs or 401(k) plans)
  • Nonqualified plans, such as SERPs and salary continuation agreements
  • Funding arrangements for deferred compensation, including
    • Bank-owned life insurance (BOLI)
    • Rabbi trusts
  • Stock bonus plans
  • Employee stock purchase plans
  • Regular and Roth individual retirement accounts (IRAs)
  • Rollover IRAs
  • Grantor stock ownership trusts
  • Voluntary employee assistance programs
  • Flexible benefit (cafeteria) plans
  • Health Reimbursement Arrangements (HRAs)
  • Health Savings Accounts (HSAs)
  • Health plans, including ERISA, COBRA, and HIPAA compliance
  • Medical benefit programs
  • Tuition reimbursement plans
  • Severance plans
  • Qualified transportation plans

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