Bruce Schwartz is a Shareholder in the White Plains office of Jackson Lewis P.C. He has more than 30 years of experience in all aspects of employee benefits and compensation counseling and is one the founders of the Firm's Benefits Practice Group.
Mr. Schwartz's practice encompasses virtually all areas of employee benefits law and federal tax law matters relating to benefits and compensation, including the following:
•design, implementation and operation of tax-qualified retirement plans including 401(k), profit-sharing, stock bonus, defined benefit and 403(b) plans;
•design, implementation and operation of supplemental executive retirement plans and other nonqualified deferred compensation plans, including compliance with Section 409A and Section 457;
•analysis and implementation of severance and executive compensation plans;
•compliance with tax law requirements applying to other employee benefit plans and compensation, including compliance with Section 125 cafeteria plan and Section 132 fringe benefit requirements;
•advice with respect to federal tax and benefit rules applicable to contingent workers, including employee leasing and independent contractor issues; establishment, administration and operation of health and other welfare plans;
•benefits oriented aspects of certain corporate transactions, such as reductions-in-force, mergers, acquisitions and divestitures and other transactions;
•continuing legal compliance of employee benefit plans, including day-to-day legal advice concerning the plans operation and administration, and trouble-shooting with respect to errors in the operation of employee benefit plans;
•working with plan sponsors regarding the set up of administrative and other arrangements with third-party administrators, claims administrators and other vendors;
•advise concerning tax treatment of settlement and/or law suit compensation;
•audits and other matters before the federal administrative agencies charged with enforcement of the Employee Retirement Income Security Act of 1974, including the Internal Revenue Service and the United States Department of Labor; and
•advice regarding employee benefits and benefit-related employment discrimination litigation.
He has represented a full range of clients from small, closely-held businesses to large national and multinational entities companies in a broad range of industries. Prior to joining Jackson Lewis in 1989, Mr. Schwartz was a member of the tax/employee benefits groups at Kaye, Scholer, Fierman, Hays & Handler (1986-1989) and Olwine, Connelly, Chase, O'Donnell & Weyher (1984-1986).
October 24, 2014
2015 Cost of Living Adjustments for Retirement Plans
October 24, 2014
The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations for retirement plans and Social Security generally effective for Tax Year 2015 (see IR-2014-99). Most notably, the limitation on annual salary deferrals into a 401(k) plan will increase from $17,500 to $18,000. The dollar...
April 8, 2014
IRS Issues New Guidance on Treatment of Same-Sex Couples Post-Windsor to Qualified Retirement Plan Sponsors
April 8, 2014
The IRS has issued Notice 2014-19 and a set of Answers to Frequently Asked Questions (“FAQs”), providing new guidance to sponsors and administrators of qualified retirement plans on the treatment of same-sex couples following the Supreme Court's decision in United States v. Windsor, No. 12-307 (June 26, 2013). (For...
March 27, 2014
IRS Issues Guidance for Bitcoin, Other Virtual Currencies in Time for Tax Season
March 27, 2014
Bitcoin and other virtual currencies must be treated as property for U.S. federal tax purposes, the Internal Revenue Service has determined in guidance released on March 25, 2014. IRS Notice 2014-21. The IRS apparently relied on the premise that virtual currencies do not have legal tender status in any jurisdiction. Signaling that...
Benefits Law Advisor
When a Deferred Compensation Plan Qualifies for “Top-Hat” Plan Status under ERISA
June 11, 2015
In a recent decision, Tolbert v. RBC Capital Markets Corp., _________ (S.D. Texas April 28, 2015), the district court wrestled with the question of how to determine whether a deferred compensation plan was a “top-hat” plan exempt from many of the substantive requirements of the Employee Retirement Income Security Act (“ERISA”).
By Bruce H. Schwartz