Legal Series: M&A Transactions & Underfunded Benefit Plan Issues Explored

Steve has 30 years of experience in the human resource consulting field and specializes in coordinating the HR aspects of mergers, acquisitions and spin-offs. Steve is a NY-based principal in our Human Resource Transaction Services practice and works on transactions with a full array of private equity and strategic clients. He has significant experience addressing executive compensation and pension issues arising on deals.

Steve has been with PwC for 24 years, including 19 years in New York and five years in London. Prior to joining PwC, Steve qualified as an actuary with a leading UK firm of actuaries. Steve is a fellow of the UK Institute of Actuaries, a Certified Compensation Professional and holds an MBA from the University of Manchester.

Recent thought leadership includes chapters in books by PEI on HR due diligence and PE portfolio compensation.

Leslie Bassett is an ERISA litigation lawyer in King & Spalding’s Business Litigation practice. For nearly a decade, Ms. Bassett has focused her practice on the defense of sponsors and fiduciaries of employee benefit plans in ERISA litigation matters. She defends clients in complex employee benefits litigation, including litigation involving breach of fiduciary duty and employer stock held in 401(k) plans. Ms. Bassett also counsels clients in connection with governmental investigations and other regulatory matters involving benefits issues and executive compensation agreements. Perhaps equally importantly, she has counseled and resolved numerous disputes in earlier stages, preserving the goals of cost-effectiveness, efficiency, and discretion for her clients.

In addition to her active practice, Ms. Bassett has maintained her commitment to giving back to the community by, among other things, representing children in the juvenile justice process and handling pro bono adoptions through Atlanta Legal Aid’s Grandparent/Relative Caregiver Adoption Project.

With more than 30 years of experience, Ken Raskin is a partner and Chair of King & Spalding’s Employee Benefits & Executive Compensation Practice. He counsels clients in the structure of retirement and welfare benefit plans, including fiduciary issues and investments. He counsels fund sponsors, plans and lenders on ERISA fiduciary implications. Mr. Raskin also focuses on transactional counsel in mergers and acquisitions.

Corporate and individual clients seek Ken’s advice on executive compensation issues, including executive employment contracts, incentive compensation arrangements, stock option plans, non-compete agreements, severance arrangements and parachute plans.

Mr. Raskin is nationally recognized for his expertise by Chambers USA, Best Lawyers in America, PLC Which Lawyer? and the Legal 500. He is a Board Member of the Plan Sponsor Council of America (PSCA) and a member of the faculty of the Practicing Law Institute (PLI).

Bertha Minnihan has over 17 years of experience in public accounting and serves as the National Practice Leader for Moss Adams’ Employee Benefit Plan Group. She has extensive experience directing all phases of audits for a variety of benefit plans. Bertha serves on the AICPA’s Employee Benefit Plan Audit Quality Center’s Executive Committee. She has also served on the AICPA’s Technical Standards Subcommittee and has chaired the annual national AICPA Benefit Plan conference for several years. She is frequently called upon to speak at local and national organization events dedicated to the Benefit Plan Audit specialty and her acumen is widely recognized by many of the third party administrators, trustees and investment custodians utilized by companies nationwide.

Tom Simonson leads Lockton Retirement Services for the firm’s Southeast Series and is based in Charlotte, NC.

Tom’s primary responsibilities include assisting for-profit and not-for-profit employers align their qualified and non-qualified retirement plans to meet their business goals. Key areas of focus include assessing employee retirement readiness, merger/acquisition support, fiduciary liability management, investment selection and monitoring, vendor management/evaluations, plan design, and employee communications.