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
- Internal Revenue Service (IRS) to Begin Compliance Checks of Non-Governmental Section 457(b) Plans - (Posted On Monday, July 08, 2013)
- U.S. Supreme Court Rules on Defense of Marriage Act (DOMA) and California's Proposition 8 - (Posted On Wednesday, June 26, 2013)
- Supreme Court Ruling on Defense of Marriage Act (DOMA) Could Lead to Refunds of Federal Taxes - (Posted On Wednesday, June 12, 2013)
- Favorable Temporary Affordable Care Act (ACA) Exemption for Expatriate Health Plans - (Posted On Tuesday, May 21, 2013)
- Supreme Court Oral Arguments on Defense of Marriage Act (DOMA), Proposition 8: Potential Employee Benefit Plan Implications - (Posted On Tuesday, May 07, 2013)
- Employers Should Review How Plan Documents Define Spouse in Light of Recent Benefits Litigation - (Posted On Tuesday, April 30, 2013)
- IRS Issues Procedures for Securing Favorable Opinions on Pre-Approved Internal Revenue Code 403(b) Programs - (Posted On Wednesday, April 17, 2013)
- What You Need to Know About Foreign Account Tax Compliance Act's (FATCA) Impact on Non-U.S. Retirement Plans - (Posted On Friday, March 22, 2013)
- IRS Issues 403(b) Plan Fix-It Guide - (Posted On Friday, March 15, 2013)
- Internal Revenue Service (IRS) Issues 403(b) Plan Fix-It Guide - (Posted On Tuesday, March 12, 2013)