Todd A. Solomon is a partner in the law firm of McDermott Will & Emery LLP and is based in the Firm’s Chicago office. Todd focuses his practice primarily on designing, amending, and administering pension plans, profit sharing plans, 401(k) plans, employee stock ownership plans, 403(b) plans, and nonqualified deferred compensation arrangements. He also counsels privately and publicly held corporations and tax-exempt entities regarding fiduciary issues under ERISA, employee benefits issues involved in corporate transactions, executive compensation matters, and the implementation of benefit programs for domestic partners of employees.
Todd has significant ERISA Title I experience and has counseled plan fiduciaries with respect to investment policies, private equity, hedge funds, and other alternative investments, prohibited transaction issues, investment management agreements and payment of expenses from plan assets.
He advises multinational clients on global employee benefits matters and compliance issues. Todd is a council member of the International Bar Association Global Employment Institute (GEI) and serves as editor of the GEI’s Annual Global Report on global legal issues impacting human resources.
Todd represents clients before the Internal Revenue Service on issues such as Employee Plans Compliance Resolution System (EPCRS) filings, Audit Closing Agreement Program (CAP) negotiations, benefit plan audits and applications for determination letters. He negotiates with the Department of Labor in connection with benefit plan audits and Voluntary Fiduciary Correction Program filings, and the Pension Benefit Guaranty Corporation in connection with 4062(e) events and plan terminations.
Todd chairs the Firm's Pro Bono and Community Service Committee. He received the 2008 McDermott Will & Emery award for Outstanding Achievement and Commitment to Pro Bono and Service to the Community. Additionally, he is a member of the McDermott's Diversity and Inclusion Committee and has been involved with evaluating the Firm's domestic partner benefits policies and working with businesses in Chicago in jointly advocating for lesbian, gay, bisexual and transgender (LGBT) rights in the workplace.
More Legal and Business Bylines From Todd A. Solomon
- Opportunity Knocks: At Long Last, IRS Determination Letter Program Is Open for 403(b) Plans - (Posted On Wednesday, November 01, 2023)
- Opportunity Knocks: At Long Last, IRS Determination Letter Program Opens for 403(b) Plans - (Posted On Friday, October 27, 2023)
- Better Than a Snow Day: The PBGC Provides One-Time Section 4010 Reporting Waiver - (Posted On Friday, August 18, 2023)
- Better Than a Snow Day: The PBGC Provides One time Section 4010 Reporting Waiver - (Posted On Tuesday, August 15, 2023)
- Proposed Legislation Would Allow 403(B) Plans to Invest In Lower-Cost Collective Investment Trusts - (Posted On Saturday, June 10, 2023)
- HHS Issues Proposed Rule Under Section 1557 of the Affordable Care Act: Nondiscrimination in Health Programs and Activities - (Posted On Thursday, August 18, 2022)
- Proposed IRS RMD Regulations Present Challenges, Risks for 403(b) Plans - (Posted On Tuesday, April 12, 2022)
- Department of Labor Exemption Impacts Investment Advice Fiduciaries - (Posted On Thursday, July 15, 2021)
- DOL Creates Path for 401(k) Plans to Offer Private Equity Investment Options - (Posted On Friday, September 11, 2020)
- “Because of Bostock ” – Court Delays HHS Rule Re-interpreting Section 1557 Discrimination “Because of Sex” - (Posted On Friday, August 21, 2020)