Scott is a partner concentrating his practice on employee benefits, executive compensation and multiemployer retirement, and health and welfare plans. Scott represents clients in a wide range of industries including manufacturing, construction, food services, retail, health care, and financial services.
Scott prioritizes clear and consistent communication with his clients. Scott’s dedication to understanding his clients’ objectives and business challenges results in a more strategic application and compliance with the complex and constantly developing areas of employee benefits and executive compensation. His clients often express their appreciation for his ability to translate the legal requirements of the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code into available and practical courses of action for their business.
Multiemployer Pension and Health and Welfare Benefits
Scott represents numerous Boards of Trustees of multiemployer retirement and health and welfare plans. Scott’s extensive experience in this unique area results in an efficient and cost savings representation for these clients.
Representative Matters include:
- Demand and collection of withdrawal liability for multiemployer pension plan, including advice on determinations on requests for review, and representation through arbitration of issues remaining in dispute.
- Representation of multiemployer retirement plans through Department of Labor audit and investigation.
- Design and drafting of supplemental unemployment benefit plan.
- Design and drafting of voluntary benefits program that permits participants to apply employer contributions towards nontaxable benefits such as a medical reimbursement account, dependent care assistance, educational expense reimbursement, and term life insurance.
Employee Benefits
Scott is experienced in all aspects in the design and maintenance of defined benefit plans, cash balance pension plans, 401(k) and profit sharing plans, including strategies to leverage contributions to owners and key employees. He represents employers in their interactions with the Internal Revenue Service and the Department of Labor involving plan issues, including correction of plan operational errors, prohibited transactions, and plan audits and investigations. With the significant developments in health and welfare benefits, Scott has immersed himself in the constant new requirements and opportunities in health and wellness that impact his clients’ businesses.
Representative Matters include:
- Advise Fortune 500 companies, hospital systems and entrepreneurial employers on the impact and implementation of the Affordable Care Act on their employee benefits.
- Advise Fortune 500 company on employee benefit implications on numerous acquisitions and divestitures of assets.
- Represent companies on multiemployer withdrawal liability matters, including the impact of corporate reorganizations and transactions on exposure to withdrawal liability.
- Design of cash balance pension plan for high net worth individuals for significant tax deferred wealth accumulation.
- Preparation of Voluntary Compliance Program filing under the IRS Employee Plans Compliance Resolutions System on behalf of employer, which ultimately received significant reduction of correction contribution cost based on negotiated alternative correction.
Executive Compensation
Scott often assists companies incentivize and retain key employees through the use of a wide range of executive compensation tools, including nonqualified deferred compensation plans, equity and stock option plans, and executive pension plans.
Representative Matters include:
- Design of deferred bonus and retention program for specialized high profit employees of construction company.
- Design and implementation of phantom stock plan for fast growing specialty agriculture company.
- Advise technology company on long term incentive compensation plan for minority shareholders and key executives.
Community Activities
Scott is active in the community and serves in a variety of leadership roles. Scott serves as a member of the Sylvania Masters Swim Club Board of Directors. Scott has previously served on the Board of Directors of Leadership Toledo, Sylvania Community Services, Catholic Charities, Northwest Ohio Hemophilia Foundation, and as a member of the St. Joseph’s School of Sylvania Advisory Board. Scott was a previous recipient of the 20 under 40 Leadership Award for Toledo. Scott is a member of the International Foundation of Employee Benefit Plans.
Media Mentions