Erin Turley Erin Turley

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  Erin Turley 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 Erin Turley's full bio.

COVID-19 — Tax Planning Opportunity for Defined Benefit Participants?


By , and on Apr 14, 2020
Posted In Employee Benefits, Retirement Plans

Much has been written about the new CARES Act distribution that allows impacted COVID-19 participants to access up to $100,000 in their tax-qualified defined contribution plan penalty-free and with income taxes spread over three years. However, the CARES Act legislation applies to all “eligible retirement plans” as defined in Code Section 402. So technically the...

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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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HSA Eligibility Not Disrupted by COVID-19 (Novel Coronavirus) Testing and Treatment


By , and on Mar 12, 2020
Posted In Employee Benefits, Employment, Health and Welfare Plans

A new IRS notice will allow individuals to receive testing and care for COVID-19 without jeopardizing their ability to contribute to a health savings account (HSA). The IRS issued the notice due to the public health threat posed by COVID-19, and the stated need to eliminate potential administrative and financial barriers to testing for and...

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Investor Guidelines for Shared Value Creation in Employee Ownership Transitions Unveiled


By and on Feb 27, 2020
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues

One of the big questions for the employee ownership field is, why has the number of US employee-owned firms failed to grow significantly over the last couple of decades? An upcoming paper from Fifty by Fifty proposes that the barrier to growth is a lack of agency. Employees don’t have the knowledge, skills or capital...

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On Top of ESOP Developments: Insights from the 42nd ESOP National Conference


By and on Aug 1, 2019
Posted In Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans

The 2019 ESOP National Conference, an annual gathering for employee owners from all levels, association volunteer leaders and expert professionals, took place May 22–24. Two McDermott partners, Theodore (Ted) M. Becker and Erin Turley, presented three sessions during the conference, the slides of which are available for download on the conference website. See descriptions of...

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Selling a Family or Multi-Shareholder Business to an ESOP


By on Apr 25, 2019
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs)

In a presentation for the National Center for Employee Ownership (NCEO) Conference, Erin Turley presented on selling a family of multi-shareholder business to an ESOP. She discussed ownership transition alternatives and how to execute the ESOP transaction. Below are a few key takeaways from the presentation. A multi-shareholder-owned company should not be a deterrent selling...

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Fridays With Benefits Webinar | The Triage Unit: Cutting Health Plan Costs Without Sending Benefits to the Emergency Room


By and on Apr 11, 2019
Posted In Employee Benefits, Health and Welfare Plans

Join us Friday, April 19 as Erin Turley and Judith Wethall discuss some of the innovative strategies organizations are employing to achieve transparency, reduce fees and provide enhanced offerings when negotiating multi-year health and welfare benefit plan contracts. Our lively 45-minute discussion will cover emerging trends you can leverage at the negotiating table, including Pharmacy...

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Worker Classification: Complications Beyond the Front Page


By , , , and on Feb 7, 2019
Posted In Employee Benefits, Employment

When California’s Dynamex decision rolled out the “ABC test”, it placed the burden on the employer to prove independent contractor (IC) status. In a presentation at the Employment and Employee Benefits Forum in California, McDermott’s lawyers discussed the implications of Dynamex, as it applies to various types of employers as well as those using staffing...

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Paving the Way for More HRAs


By , , , , and on Nov 1, 2018
Posted In Employee Benefits, Health and Welfare Plans

President Trump signed an executive order last year directing the Secretaries of Labor, Treasury and Health and Human Services to consider proposing regulations to “increase the usability of HRAs.” This month, the collective departments issued proposed regulations containing changes to the prohibition on pairing HRAs with individual health policies, as well as other changes to...

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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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