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
- IRS Guidance on Employee Benefits Implications of Supreme Court Obergefell Decision on Same-Sex Marriage - (Posted On Monday, January 25, 2016)
- Seventh Circuit Finds that State Insurance Law Applies, Resulting in De Novo Review of Benefit Claim - (Posted On Tuesday, September 15, 2015)
- Employee Benefits Implications of Supreme Court Decision on Same-Sex Marriage - (Posted On Wednesday, July 01, 2015)
- Department of Labor Final Rule Prohibiting Discrimination against LGBT Individuals in Government Contracting Effective April 2015 - (Posted On Tuesday, May 12, 2015)
- SEC No-Action Letter Permits Non-ERISA Retirement Plans to Issue Participant Fee Disclosures Without Violating Securities Laws - (Posted On Thursday, March 19, 2015)
- Supreme Court to Review Same-Sex Marriage Cases - (Posted On Tuesday, February 03, 2015)
- Seventh Circuit: Plaintiffs Lacked Standing to Challenge Tax Exemption for Ministerial Rental Allowances - (Posted On Thursday, November 20, 2014)
- Developments Impacting Benefits for Same-Sex Spouses - (Posted On Thursday, August 28, 2014)
- June 30 Deadline Approaches for Mandatory E-File FBAR (Report of Foreign Bank and Financial Accounts) Reporting - (Posted On Tuesday, June 24, 2014)
- Non-U.S. Retirement Plans Must Comply with or Claim Exemption from FATCA by July 1 - Foreign Account Tax Compliance Act - (Posted On Tuesday, June 10, 2014)