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Todd A. Solomon is the head of McDermott’s Benefits, Compensation & Employment Practice Group. Todd focuses his practice on designing, amending and administrating pension, profit sharing, 401(k), employee stock ownership and 403(b) plans, as well as nonqualified deferred compensation arrangements. He also counsels privately and publicly held corporations and tax-exempt entities regarding fiduciary issues under the Employee Retirement Income Security Act (ERISA), employee benefits issues involved in corporate transactions, executive compensation matters and the implementation of benefit programs for domestic partners of employees. Read Todd A. Solomon's full bio.

“Because of Bostock” – Court Delays HHS Rule Re-interpreting Section 1557 Discrimination “Because of Sex”


By , , , and on Aug 25, 2020
Posted In Benefit Controversies, Employee Benefits, Health and Welfare Plans

One day before an updated rule of the US Department of Health and Human Services regarding Section 1557 of the Patient Protection and Affordable Care Act took effect, the US District Court for the Eastern District of New York ordered a stay and issued a preliminary injunction precluding the most recent final rules from becoming...

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Multiemployer Pension Plans: Addressing the Issue of Underfunding


By on Aug 11, 2020
Posted In Employee Benefits, Retirement Plans

A significant issue facing many business owners is the impact of underfunded multiemployer pension plans. This is most common, but not exclusive to, unionized businesses. McDermott Partner and Global Head of the Firm’s Employee Benefits and Executive Compensation Practice Group Todd Solomon joins Domenic Rinaldi, owner and managing partner of Sun Acquisitions, for a recent episode of...

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HHS Finalizes Anti-Discrimination Revisions to ACA Section 1557


By , , , and on Jul 14, 2020
Posted In Benefit Controversies, Health and Welfare Plans

On June 12, 2020, the Office for Civil Rights (OCR) of the US Department of Health and Human Services (HHS) finalized a rule under Section 1557 of the Patient Protection and Affordable Care Act (the 2020 Final Rule) that rescinds certain protections afforded to LGBTQ individuals and persons with limited English proficiency. At the same...

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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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Transgender Health Benefits: Best Practices and Legal Considerations


By , and on Sep 3, 2019
Posted In Employee Benefits, Employment, Health and Welfare Plans

A growing number of medical organizations, courts and administrative bodies have stated that transition-related medical care is medically necessary and should be covered by employer-sponsored medical plans. Access to employer-sponsored healthcare coverage for transgender workers has become an issue of focus for civil rights advocacy groups such as Lambda Legal and the American Civil Liberties...

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7 Severance Structuring Tips for Tax-Exempt Colleges and Universities


By , and on Aug 20, 2019
Posted In Employee Benefits, Employment, Executive Compensation

In-house counsel and human resources professionals at tax-exempt colleges and universities often face a variety of challenges when structuring, and determining obligations due under, severance arrangements. There are some key considerations to bear in mind, which are outlined in this article. Access the full article.

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Fridays with Benefits Webinar | All in the Family: 21st Century Benefit Plan Strategies for Family-Owned Businesses


By , and on Jun 6, 2019
Posted In Employee Benefits, Executive Compensation

Those were the days: when family-owned businesses paid only passing attention to the business value of providing tax-efficient—and incentivizing—benefit plans and compensation options. Tomorrow, Employee Benefits partner Todd Solomon and Private Client partner Bobbi Bierhals join host Judith Wethall during our Fridays with Benefits webinar series to discuss benefit plans and compensation strategies for modern...

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Key Considerations with Alternative Investments for Pension Plans


By and on Nov 15, 2018
Posted In Employee Benefits, Fiduciary and Investment Issues, Retirement Plans

Todd Solomon and Brian Tiemann presented on alternative investments for pension plans during the Association for Financial Professionals (AFP) Conference in Chicago. They discussed various rules benefit plan investors should consider, including the “look-through” rule and the “significant” investment rule. They also addressed common hedge fund structural and operational issues, and problems if a fund...

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The Forgotten “T” in LGBT: Best Practices for Creating a Transgender-Inclusive Workplace


By on Sep 11, 2018
Posted In Employee Benefits, Employment

Creating a gender identity and/or expression inclusive workplace allows employers to attract and retain talented employees, boosts engagement and productivity, and mitigates risks of legal claims. In a presentation at the 37th Annual ISCEBS Employee Benefit Symposium, Todd Solomon creates a business case for transgender inclusion by exploring legal trends. He discusses best practices for...

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Federal Appellate Court Finds That Title VII Bans Gender Identity Discrimination


By , and on May 31, 2018
Posted In Employment

The US Court of Appeals for the Sixth Circuit ruled on March 7, 2018, that workplace discrimination on the basis of gender identity and gender expression violates Title VII of the Civil Rights Act of 1964. The language of Title VII does not expressly prohibit discrimination on the basis of gender identity. However, the US...

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