Allison Wilkerson

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  Allison Wilkerson focuses her practice on employee benefits matters. She has extensive experience handling issues pertaining to the Employee Retirement Income Security Act of 1974 (ERISA) and employee stock ownership plans (ESOPs). Read Allison Wilkerson's full bio.

Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts


By , and on Sep 21, 2022
Posted In Executive Compensation, Fiduciary and Investment Issues, Retirement Plans

The Internal Revenue Service (IRS) recently issued needed relief to extend some amendment deadlines for non-governmental qualified retirement plans and 403(b) plans, and for individual retirement accounts (IRAs) under the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the Bipartisan American Miners Act of 2019 (Miners Act), and certain provisions of...

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Mature ESOPs: Remodeling the House You Own


By on Jun 23, 2022
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans

On May 5, 2022, McDermott Partner Allison Wilkerson delivered a presentation during the 2022 TEA National Conference titled “Mature ESOPs: Remodeling the House You Own.” Her presentation focused on the traits of a sustainable employee stock ownership plan (ESOP), common concerns of a mature ESOP and other ESOP-specific investment issues. Allison and her co-presenters also...

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Current Trends in DOL and IRS Investigations


By on Sep 23, 2021
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Retirement Plans

What can employee stock ownership plan (ESOP) managers due to prepare an effective record in advance of a potential US Department of Labor or Internal Revenue Service investigation? McDermott Partner Allison Wilkerson presented on this topic during The ESOP Association‘s TEA National 2021 Conference. Access the slides.

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COVID-19 Ate My Homework – Recent Extensions and Relief for Retirement Plans


By , and on May 18, 2020
Posted In Benefit Controversies, Employee Benefits, Employment, Fiduciary and Investment Issues, Retirement Plans

In recognition of the difficulties faced by retirement plan sponsors, participants and beneficiaries due to the COVID-19 pandemic, new guidance extends the deadlines for notices and disclosures required by Title I of ERISA and extends deadlines for retirement plan participants and beneficiaries to submit benefit claims and benefit appeals. The new guidance also provides some...

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COVID-19 FAQs: For Employee Benefits & Executive Compensation


By , , , , , , , , , and on Mar 26, 2020
Posted In Employee Benefits, Employment, Executive Compensation, Health and Welfare Plans, Retirement Plans

Coronavirus (COVID-19) raises serious concerns for employers of all shapes and sizes, across all industries and in every business sector. As the impact of COVID-19 continues to grow, many employers are faced with new challenges that affect not only their businesses and their employees, but the health and welfare, retirement and executive compensation plans and...

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Fridays With Benefits Webinar | Quick & Easy Recipes for Fixing 401(k) Plans


By , , and on May 9, 2019
Posted In Employee Benefits, Retirement Plans

Join us Friday, May 17, as Allison Wilkerson, Brian Tiemann and Sarah Engle join host Judith Wethall to talk through the value of conducting a proactive self-audit of 401(k) plans. They will provide best practices designed to reduce the risk of costly government investigations. Attendees will come away prepared and confident in their position, and...

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Get Your Game On – How To Handle IRS and DOL Audits


By and on Oct 25, 2018
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans

During the Tax in the City event held in Dallas, Erin Turley and Allison Wilkerson gave an overview of benefit plan audits and the IRS examination process. They discussed various areas of focus, including, required minimum distributions, investment issues, benefit calculations and appropriate tax reporting. They provided attendees with best practices before an audit, as...

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Unique ESOP Structure Considerations


By on May 22, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans

ESOP transactions continue to grow in sophistication as sellers, plan sponsors and fiduciaries seek to meet certain goals and regulatory requirements. Allison Wilkerson, and other panelists for this presentation, reviewed a number of advanced transaction structures that are being utilized more and more to address specific needs identified by one or more of the parties...

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Compensation for Privately Held Companies


By on May 3, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Executive Compensation

Allison Wilkerson presented on a panel at the National Center for Employee Ownership (NCEO) Conference. The panel provided an overview of issues impacting compensation matters, as well as decisions affecting privately held companies that are wholly or partially owned by an ESOP.  The presentation included an analysis of certain legal requirements and a current view...

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ESOP Litigation Trends: Department of Labor Voids Fiduciary Indemnification Agreements to Reach Settlements


By , , and on Apr 12, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues

The US Department of Labor has taken the position that certain indemnification clauses are void against public policy under Section 410 of ERISA. This policy has been adopted by private plaintiff classes; as evident from a recent settlement, a policy that voids indemnity provisions can limit defense budgets, make settlements more likely and potentially create...

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