Leslie A. Klein has more than 25 years of experience advising publicly held companies, privately held companies, not-for-profit corporations, fiduciaries and executives in all aspects of employee benefits and executive compensation. He is recognized as a Fellow of the American College of Employee Benefits Counsel for having made significant contributions to the advancement of the field of employee benefits. Les regularly counsels clients in connection with pension, profit sharing, cash balance, 401(k), 403(b), 457, employee stock ownership (ESOP), supplemental executive retirement (SERP), deferred compensation and welfare benefit plans and frequently represents plan sponsors and fiduciaries before the Internal Revenue Service, Pension Benefit Guaranty Corporation and U.S. Department of Labor. Les advises companies and senior executives in connection with stock options, phantom stock, stock appreciation rights, annual bonus, long-term incentives, restricted stock, employment agreements, parachute agreements, retention agreements and severance agreements.
Les also advises clients regarding ERISA's fiduciary responsibility rules and the Internal Revenue Code's prohibited transaction excise taxes. From 1980 to 1984, Les was a trial attorney in the Chicago office of the District Counsel of the IRS where he was responsible for several prohibited transaction excise tax cases. Les represented the Commissioner of the IRS before the U.S. Tax Court in a case in which the IRS asserted prohibited transaction excise taxes against the Central Conference of Teamsters as a result of the sale of its airplane to its pension fund. As the attorney in charge of that and other prohibited transaction cases, Les regularly consulted with and advised senior staff of the Department of Labor and the IRS. Les has continued to counsel clients, including sponsors of plans, plan committees, institutional and individual trustees, and investment funds regarding the prohibited transaction excise taxes and ERISA fiduciary rules, DOL and IRS investigations, and employee benefits litigation.
Prior to joining the firm, Les was a partner in the Employee Benefits and Executive Compensation Group of Sonnenschein Nath & Rosenthal LLP where he practiced for 22 years.
Areas of Concentration
· Design and provide advice on tax, ERISA and securities laws relating to:
- Tax qualified retirement plans
- Nonqualified retirement plans
- Executive compensation arrangements
- Senior executive employment agreements
- Senior executive parachute agreements
- Senior executive retention and severance agreements
· DOL and IRS voluntary compliance programs
· DOL, IRS and PBGC employee plan audits
· ERISA fiduciary and prohibited transaction rules
· ERISA litigation
Professional & Community Involvement
· Adjunct Professor, Chicago-Kent College of Law, Illinois Institute of Technology
· Fellow, American College of Employee Benefits Counsel
· Member, American Bar Association, Taxation Section
· Co-Chair, IRS/ASPPA Great Lakes Benefits Conference (1996-2007)
· Former Chair, Chicago Bar Association, Employee Benefits Committee
· Former Member, Board of Directors, American Society of Pension Actuaries (ASPA)
· Former President and Founder, ASPA Benefits Council of Chicago
Awards & Recognition
· Listed, Chambers and Partners USA Guide, an annual listing of the leading business lawyers and law firms in the world (2009-2011)
· Listed, The Best Lawyers in America (2006-2012)
· Selected, Super Lawyers magazine (2006, 2008-2012)
· Listed, Who's Who Legal: Illinois (2008)
· Selected, Leading Lawyers Network (2007-2012)
· Rated, AV® Preeminent™ 5.0 out of 5
Other Experience
· Certified Public Accountant
Articles, Publications, & Lectures
Les is the author of several articles involving the IRS' voluntary compliance programs, nonqualified deferred compensation, executive compensation, employee stock ownership plans and post retirement medical benefits
Speeches
· Speaker, "The New World of Nonqualified Deferred Compensation and Equity Incentives," Western Pension & Benefits Conference, Phoenix Annual Spring Conference 2010, Phoenix, AZ, April 22, 2010
· Speaker, "IRS Audit/Critical Priorities Update," 2009 Great Lakes Benefits Conference, Chicago, IL, April 20 - 21, 2009
Fellow: American College of Employee Benefits Counsel.
(Also at Chicago, Illinois Office)