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Dykema

Kenneth J. Sachs

Kenneth J. Sachs

Member

Expertise

  • Employee Benefits and Executive Compensation
  • Business Services
  • Labor & Employment
  • ERISA Litigation

WSG Practice Industries

Activity

Dykema
Michigan, U.S.A.

Profile

Ken Sachs has extensive experience advising clients regarding their employee benefit plans, executive benefit programs and business planning. He also represents public and private entities concerning their corporate, fiduciary and governance responsibilities. 

He designs, drafts and establishes retirement plans, welfare plans, medical plans (insured and self-funded), fringe benefits (such as cafeteria plans, flexible spending accounts, health savings accounts, dependent care assistance programs, disability policies, adoption assistance and education-related plans) and various other programs provided to employees. He is an expert as to the administration of such plans, including the correction of administrative errors.

Ken works with defined contribution plans, 401(k) plans, pension plans, cash balance plans, 457(b) and 457(f) plans, 403(b) plans and various other retirement benefits. In addition to drafting plan documents, summary plan descriptions and participant communications, Ken actively assists clients with audits, non-discrimination testing and the proper administration and funding of such plans. 

Ken also advises clients as to the design and implementation of incentive compensation programs, such as stock options, restricted stock, phantom equity and other compensatory arrangements. This includes working with all types of employers, including governmental and tax-exempt entities. Ken is a leading expert on Code Section 409A.

As to welfare plans, Ken drafts plan documents, summary plan descriptions, notices of privacy practices, business associate agreements, summaries of benefits and coverage, participant communications and employer manuals and protocols necessary to ensure legal compliance, including the HIPAA Privacy and Security Regulations. He frequently leads HIPAA training sessions for his clients. Additionally, he has extensive experience with FMLA, COBRA, Health Care Reform and other employment-related laws and regulations.

Ken has significant experience counseling clients (sellers and buyers) as to the employee benefit implications of mergers and acquisitions, including the legal, financial and practical risks and planning opportunities.

His legal practice also includes drafting and negotiating insurance and third party vendor contracts, including non-disclosure and data privacy agreements.

To ensure proper compliance with federal and state laws and regulations, Ken helps clients “self-audit” their benefit programs and designs compliance manuals, training programs, internal procedures and fiduciary seminars.

He handles matters involving the Internal Revenue Service, Department of Labor and Pension Benefit Guaranty Corporation, and actively consults with clients as to multiple employer plans, multi-employer pension plans (including withdrawal liability under the Multiemployer Pension Plan Amendments Act), multiple employer welfare arrangements, retiree health plans and funding arrangements, including VEBAs and Internal Revenue Code Section 115 trusts.

Representative Matters

Automotive Suppliers

Retiree Health Benefit Litigation: Succeeded in vacating an injunction that prohibited a municipality from implementing changes to retiree health benefits that resulted in cost savings of $5 million.

City of Detroit Chapter 9 Bankruptcy Restructuring: Served as local counsel to the City of Detroit in connection with its Chapter 9 bankruptcy case filed in July 2013 and its ongoing restructuring efforts. Since exit in December 2014, Kenneth continued to assist in representation of the City in connection with many aspects of its Plan of Adjustment implementation, appeals of Plan confirmation, stand up of the Great Lakes Water Authority and a variety of financings.

Kenneth has drafted numerous creative retirement plans that have consistently exceeded his clients' expectations regarding their ability to save money on a tax-deferred basis.

Bar Admissions

Michigan

Education

Wayne State University Law School, LL.M., 2010 George Washington University School of Law, J.D., 1999 University of Michigan, B.A., 1996
Areas of Practice

Business Services | Employee Benefits and Executive Compensation | ERISA Litigation | Labor & Employment | Taxation

Articles

The Ins and Outs of the Income Tax Deadline Extension—Which Returns, Deadlines Are Affected, and Which Aren’t?
Dykema, April 2021

On March 17, 2021, the IRS published IR-2021-59, postponing the deadline for filing individual income tax returns and payment of individual income taxes from April 15, 2021, to May 17, 2021. On March 29, 2021, the IRS issued Notice 2021-21, further clarifying the postponement of Federal income tax reporting and payment deadlines...

How Does The American Rescue Plan Affect Welfare Benefit Plans?
Dykema, March 2021

President Biden signed the American Rescue Plan Act of 2021 (the Act) on March 11, 2021. The Act provides COBRA premium subsidies, increases the tax-exclusion amount for employer-sponsored dependent care assistance programs and expands who may be eligible to receive premium tax credits for marketplace coverage. This alert explains how these provisions may impact your welfare benefit plans. Please contact your Dykema benefits attorney to explore the new provisions in greater depth...

The American Rescue Plan Act of 2021: Congress Adds a Few Tax Surprises to Its Rescue Package
Dykema, March 2021

The American Rescue Plan Act of 2021, Pub. L. No. 117-2 (the “ARPA”), signed into law on March 11, 2021, by President Biden, contains a few unexpected tax surprises...

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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