The Wagner Law Group’s Washington, D.C. Office: Experience, Savvy, And Leadership

The Wagner Law Group’s Washington, D.C. Office has continued to grow, adding Michael Schloss, EBSA’s former Director of Enforcement and before that a career ERISA litigator with the Office of the Solicitor of Labor. The Washington Office now includes three former DOL lawyers and three former PBGC lawyers, as well as financial, actuarial and benefits experts, representing more than 250 years of Inside-the-Beltway experience.

Harold Ashner has consistently been named a Super Lawyer and holds a Martindale-Hubbell – Peer Review Rating of AV^® Preeminent™ 5.0. The same is true of Linda Rosenzweig. Harold, Mark Poerio, Linda, and Israel (Izzy) Goldowitz are listed in Best Lawyers in America©.

The Washington Office includes five Fellows in the prestigious American College of Employee Benefits Counsel, Harold Ashner, Izzy Goldowitz, Mark Poerio, Susan Rees, and Linda Rosenzweig, among WLG’s total of 10 Fellows (surpassing even the largest firms). Izzy and Susan recruited judges for the College’s 2024 Ellen A. Hennessy Moot Court and served as judges.

Members of the Washington Office continued to publish on timely and important Employee Benefits and Executive Compensation issues:

Harold Ashner and Izzy Goldowitz published an alert titled Highlights of the 2023 PBGC Meeting With ABA’s Joint Committee on Employee Benefits, along with minutes of the meeting. Along with Brian Donahue and John Lowell of October Three, Harold and Linda Rosenzweig published Defined Benefits Plans: Underfunded Plans in the Bloomberg Law Guide to Retirement Plan Designs. Harold published Surprise—You Just Missed a PBGC Reportable Events Deadline! in the Journal of Pension Benefits. Izzy published How Employee Benefits Rules May Fare in the Post-‘Chevron’ World (PDF) in Bloomberg Tax.

Seth Gaudreau published alerts titled:

• Reg S-P Amended Around Cybersecurity
• Attention Investment Managers: QPAM Matters for Immediate Review
• Merger and Acquisition Considerations for Employee Benefit Plans
• SEC Matters to Consider in the New Year: 2024 Exam Priorities and Off-Channel Enforcement Actions
• SEC Speaks to Importance of Naming Convention
• SEC’s Recent Marketing Rule Risk Alert Identifies Additional Areas of Focus During Compliance Examinations
• SEC Issues New Guidance For Investment Advice Obligations (all with Stephen Wilkes (WLG San Francisco))
• Significant Changes Made to IRS Employee Plans Compliance Resolution System with Barry Salkin (WLG New York) and Dannae Delano (WLG St. Louis)

 Izzy Goldowitz and Linda Rosenzweig updated Employee Benefits in the Unionized Workforce, in ERISA: A Comprehensive Guide (9^th edition), edited by Andrew (Drew) Oringer (WLG New York). Izzy published Employee Benefits In Bankruptcy: Update On Key Issues in the Association of Insolvency and Restructuring Advisors Journal with Dannae Delano, Withdrawal Liability Interest Rate Assumptions: The Battle Continues in the Bloomberg Tax Management Compensation Planning Journal, and an alert titled Court Upholds PBGC Denial of Special Financial Assistance to a Terminated Multiemployer Plan.

 Mark Greenstein published an alert titled Longstanding Internal Revenue Service Position Called into Question, with Barry Salkin and Michael Schloss.

Mark Poerio published Code Section 457(f) Conundrum: How to Handle Past Year Mistakes (from Vesting) with Barry Salkin in LexisNexis Practical Guidance and an alert titled New Fire for Enforcing Forfeiture-for-Competition Provisions, with Jordan Mamorsky (WLG Chicago) and Ban on Non-Competition Agreements – What Employers Need to Know and Do Now, along with several other WLG employment and executive compensation lawyers.

Michael Schloss published:

• If You Cross-Trade Securities, Make Sure Not to Cross ERISA (PDF), in Bloomberg Tax
• If You Buy Pension Risk Transfers, Don’t Buy a Pig in a Poke (PDF), in Bloomberg Tax
• ERISA Allows Plan Fiduciaries to Pursue More Than Just Money, in Bloomberg Tax
• The Future Is Now for ERISA Fiduciary Duties Around Plan Data (PDF) in Bloomberg Law
• DOL Streamlines PTE Application Rule With New Requirements (PDF) with Steve Wilkes (WLG San Francisco) in Bloomberg Law

and alerts titled:

• Bugielski v. AT&T Case Continues With Appellate Reversal
• IRS Issues Notice Providing Relief to Taxpayers Affected by Recent Terroristic Actions Against Israel
• District Court Grants Motion to Dismiss Forfeiture Complaint
• Yellow: Pension Plan Unjustly Seeking ‘Free Money’ From Bankruptcy Case
• The Rise of Fiduciary Health Plan Litigation with Steve Wilkes
• Department of Labor’s New Investment Advice Fiduciary Rule and Related Exemption Amendments with Steve Wilkes
• The Retirement Security (Nee Fiduciary) Rule Rides Again, with Drew Oringer, Barry Salkin, John Sohn (WLG New York), and Steve Wilkes

Washington Office lawyers were in high demand as speakers at bar and other professional gatherings:

Izzy Goldowitz spoke on Are Insolvency Laws Contributing to the Death of the Single-Employer Defined Benefit Plans? at the International Pension and Employee Benefits Lawyers Association’s Biennial, on ERISA at 50: How We Got Here and Where We are Headed for the Worldwide Employee Benefits Network, on Withdrawal Liability at D.C.’s ERISA Roundtable, on Working with PBGC at the Conference of Consulting Actuaries annual meeting, on Defined Benefit Plans and Bankruptcy at the Enrolled Actuaries annual meeting, and on defined benefit plans for an ACEBC ERISA history project.

Mark Greenstein spoke at the U.S. Inventors conference as a member of the organization’s Policy Team.

Mark Poerio spoke on Key Employee Incentives: From Design to Implementation for the CPAAcademy.org, and Avoiding Nonqualified Plan Traps: Key Considerations for ERISA Counsel and Employers for Strafford, and on a webinar titled FTC Bars Noncompetes: 7 Things Employees and Executives Must Know, and repeated his presentation on Key Employee Incentives: From Design to Implementation.

Susan Rees spoke on Benefit Claims and Preparing for a DOL Cybersecurity Audit at the ABA JCEB ERISA Fiduciary Institute 2023, with Drew Oringer, on Cybersecurity Issues at the Joint TE/GE Council Employee Plans Annual Meeting, and on Multiple-Employer Plans Update at the ABA Tax Section Annual Meeting.

Michael Schloss spoke on a webinar titled Surviving the New DOL Game Plan for Prohibited Transaction Exemptions with Steve Wilkes; and on DOL’s Retirement Security Rule for the Financial Planning Association.

Washington Office members were often quoted in the media:

Izzy Goldowitz in Why Some Ex-Workers at Bed Bath & Beyond Face 401(k) Losses (New York Times) and 3 Takeaways From The PBGC’s Latest Fiscal Health Checkup (Law360), Mark Greenstein in Judge Tosses Fossil-Fuel Divestment Suit Against NYC Pensions (FUNDfire) and New Republican Discrimination Bill Adds Little to Current Law: Lawyers (FUNDfire), and Michael Schloss, in 401(k) Advice Rule Puts New Fiduciaries in Litigation Crosshairs (PDF) (Bloomberg Law), Yellow: Pension Plan Unjustly Seeking ‘Free Money’ From Bankruptcy Case (FleetOwner), Merrill Edge in Hot Seat Over Rates Paid on IRAs (PDF) (Financial Planning), and Pension Benefits at Yellow Corp. Secured by Teamsters Fund Bailout This Year (Pensions & Investments).

WLG’s Inside-the-Beltway expertise is not limited to lawyers in the Washington Office. Steve Wilkes (the firm’s Chief Legal Officer) has been involved in many of the firm’s webinars and publications involving ERISA fiduciary issues and related securities law issues that impact financial institutions. He also coordinates the firm’s federal lobbying/regulatory practice and, as a registered federal lobbyist, has represented clients on retirement plan legislative issues in Congress, as has Harold Ashner on PBGC issues. Steve leads the firm’s efforts in obtaining DOL prohibited transaction exemptions and in providing independent fiduciary service to comply with PTEs. Steve, Tom Clark (the firm’s Chief Operating Officer, practicing in WLG’s Boston and St. Louis offices), and founding partner Marcia Wagner (WLG Boston) have testified as experts before the DOL ERISA Advisory Council. Marcia served on the IRS Tax Exempt and Government Entities Advisory Committee and as Chair of its Employee Benefits Subcommittee. Marcia now serves on the Board of Governors of the ACEBC and on the Advisory Council to the Policy Board of Directors of the American Benefits Council.

If you have questions about any of these materials, or need assistance with a legal, policy, federal agency, or litigation issue involving employee benefits or executive compensation, please contact a member of the Washington, D.C. Office or one of the other lawyers mentioned in this alert.

Harold J. Ashner advises and represents clients on a wide variety of employee benefits matters, with an emphasis on PBGC issues. He served as Assistant General Counsel for Legislation and Regulations at PBGC, where he drafted or supervised virtually all regulations and policies issued by PBGC from 1988 until he left the agency in 2005.

Seth F. Gaudreau concentrates his practice in ERISA business litigation, and investment management law. Within the ERISA field, he conducts research on all matters relating to employment law, which covers qualified and unqualified benefit plans, welfare plans, and retirement plans.

Israel Goldowitz has over 40 years of experience. He is the Chief Counsel for the Pension Benefit Guaranty Corporation (PBGC). He led the legal teams that helped save the pensions of such companies as Chrysler and American Airlines.

Mark Greenstein is a seasoned ERISA attorney who comes to our firm after nearly 25 years in the Office of Policy and Research at the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA). During his tenure at the DOL, Mark analyzed complex legal issues arising under Title I of ERISA.

Mark Poerio has been in private practice with a focus on executive compensation, employee benefits (especially ESOPs), and retirement plan fiduciary matters, not only from a tax and labor perspective, but also from a business, governance, tax, securities, and litigation perspective.

Susan Rees has extensive experience with ERISA and other federal employment laws. In her capacity as a Division Chief for the Office of Regulations and Interpretations of the Employee Benefits Security Administration at the U.S. Department of Labor in Washington D.C., she provided advice to state and federal agencies, the public, and lawmakers and their staff, on ERISA interaction with state legislation involving all types of governmental plans and state retirement program alternatives.

Linda E. Rosenzweig has over 40 years of experience. Linda’s broad-based practice covers the entire range of employee benefits matters. Linda advises clients on compliance and plan design of tax-qualified, non-qualified and welfare plans, as well as issues arising under ERISA, the Internal Revenue Code, Section 409A, the Multiemployer Pension Plan Amendments Act (MPPAA), COBRA, and HIPAA. She also works with clients to amend their plans and submit voluntary correction applications, implement reductions in force, and deal with service providers, including negotiating contracts.

Michael Schloss is a highly sought-after speaker on a wide range of topics relating to Title I of ERISA and DOL activities and is the recipient of multiple awards for his service at the DOL, including the prestigious Alan D. Lebowitz Award, recognizing managers and supervisors who exemplify dedication, a distinguished career of excellence and commitment to mentoring future leaders.

Stephen Wilkes heads the firm’s Investment Management Law practice. He also is a Practice Group leader for the firm’s ERISA Fiduciary Compliance and Independent Fiduciary practices. Steve advises a national client base of mutual funds, CIFs, private funds, registered investment advisers, insurance companies, broker dealers, wealth management firms, banks, trust companies, third-party platform providers, Taft Hartley Funds and plan sponsors on ERISA, tax, and related securities law issues.