Evelyn Traub is a partner in the Richmond office and focuses her practice on employee benefits. She represents large public and privately held companies and governmental entities in a broad array of employee benefits and executive compensation matters. She regularly advises on the design, implementation and administration of tax qualified retirement plans (including 401(k), 403(b), governmental 457, profit sharing, traditional and cash balance pension plans), non qualified retirement plan, (including SERPs and deferred compensation plans) and welfare benefit plans (including group health plans, MEWAs, severance plans and cafeteria plans). With more than 35 years experience, Evelyn brings an in-depth knowledge of the Internal Revenue Code, ERISA and other applicable laws, the governmental agencies that enforce them and extensive practical experience in addressing the day to day issues that arise in the design and administration of employee benefits.
- Drafted plan documents and participant communications for tax qualified plans including defined benefit and cash balance plans and all forms of defined contribution plans (including 401(k) plans and Roth accounts).
- Assisted U.S. subsidiaries of foreign parent companies in matters relating to U.S. tax qualified plans and unique issues involving non-resident aliens, controlled group testing and service issues.
- Assisted in the design and implementation of the conversion of traditional defined benefit plan to cash balance plan including the drafting the plan document amendment, participant communications and 204(h) notices.
- Assisted in the design and implementation of “de-risking” strategies for defined benefit plan, including drafting plan amendments, participant communication and election forms.
- Provided advanced and introductory training for plan fiduciaries and assisted in the implementation of a plan governance process including drafting committee charters and delegations of authority and reviewing investment policy statements.
- Assisted clients with the correction of plan administration errors through Internal Revenue Service voluntary correction program for tax qualified plans, and the Department of Labor‘s Voluntary Fiduciary Correction Program (VFCP) and Delinquent Filer Voluntary Compliance Program (DFVCP).
- Served as outside counsel to large governmental retirement system and numerous local governmental retirement systems, advising on tax qualification matters relating to both defined benefit plans, defined contribution plan under Internal Revenue Code Sections 401(a) and 457, governmental pick-up arrangements under Internal Revenue Code Section 414(h), design and implementation of Internal Revenue Code Section 415(m) arrangements, compliance with USERRA and various state law issues, including the Constitutional impairment of contract analysis facing governmental employers desiring to change their benefit structure.
- Advised on the design and implementation of deferred compensation arrangements under Internal Revenue Code Section 409A, including drafting plan documents, participant communication, participant election forms, advising on plan amendments and income and FICA taxation issues.
- Advised on the design and implementation of deferred compensation for executives of tax –exempt entities under Internal Revenue Code Section 457(b) and 457(f), including drafting plan documents and participant communication.
- Advised on the design and implementation of split dollar life insurance arrangements, including drafting split dollar agreements and advising on income tax implications.
- Drafted plan documents and participant communications for all types of welfare benefits including self-insured group health plans (including self-insured arrangements, health reimbursement arrangements (HRAs )and Employee Assistance Plan (EAPs), group term life insurance, long term and short term disability, cafeteria plans, health and dependent care flexible spending accounts, severance plans, tuition assistance and transportation fringe benefits.
- Assisted clients in HIPAA privacy and security matters, including development of policies and procedures, drafting or reviewing business association agreements with third parties, providing training and training materials, analyzing and advising on issues associated with security breaches.
- Counseled clients on compliance with ERISA, USERRA COBRA, Mental Health Parity and Addiction Equity Act, Medicare Secondary Payor (MSP) Rules, Medicare Part D, HIPAA (portability and non-discrimination); the ADA, ADEA, FMLA, subrogation and reimbursement issues and reporting and disclosure issues.
- Advised on the implementation of wellness programs and initiatives under the new incentive structure including the overlaps and restrictions imposed under GINA.
- Reviewed and negotiated third-party administration contracts and stop loss coverage for self-funded group health plans.
- Advised clients regarding compliance with various requirements of Health Care Reform, including implementation of plan changes and compliance with various notice requirements, determination of grandfather status, preparing to address employer- shared responsibility rules, new reporting and filing requirements and determining liability for and filings associated with the various excise taxes associated with Health Care Reform.
- Assisted with implementation of consumer-driven health plans, including plan documentation, advice on employer contributions to and the affect of various arrangements on Health Savings Account (HSA) contributions and deductions,
- Assist with the design and implementation of insured and self-funded multiple employee welfare associations (MEWAs), including analysis of bona fide association rules, DOL and state law limitations, drafting trust agreements and obtaining tax qualification rulings on voluntary employees’ beneficiary associations
- Designed and implemented 401(h) retiree health account for governmental defined benefit plan, including drafting plan language, drafting subtrust and negotiating with trustee administrative services agreement with third party claims processor.
Presentations and Speaking Engagements
- Presenter, Troutman Sanders 2013 Annual Labor and Employment Seminar, October 17, 2013.
- Presenter, “The Affordable Care Act and How it Affects Your Company’s Obligations to Employees,” Association of Corporate Counsel-New York Chapter, Retail Law Committee, October 16, 2013.
- Presenter, “Health Care Reform: Update on Changes and Impact to Small Businesses, Their Employees and Families,” Virginia Bankers Association Webinar, July 17, 2013.
- Presenter, Virginia Association of Municipal Retirement Systems, “Current Issues for Governmental Plans”, Williamsburg, Virginia, January 2013.
- Presenter, Central Virginia Employee Benefits Council, “Expectations for 2012, Regulatory Outlook”, Richmond, Virginia, December 2011.
- Presenter, “Health Care Reform: What Every Employer Needs to Know Now”, Health Care Reform and Employment Law Seminar, Richmond, Virginia and Roanoke, Virginia, May 2010.
- Presenter, Richmond Chapter, Certified Employee Benefits Specialists, “Legislation and Compliance Update,” September 2005, 2007, 2009.
- Presenter, Troutman Sanders Annual Labor & Employment Seminar, “Compensation and Benefits Update”, Richmond, November 2008; Norfolk, November 2007.
- Regular lecturer to various state professional groups on a range of employee benefits topics.
- Co-author, A Guide to Understanding the Impact of Health Care Reform on Employer Group Health Plans, Inside the Minds: Health Care Law Enforcement and Compliance, published August, 2014.
- Co-author, “Health Care Reform: Administrative Updates,” July 21, 2014.
- Co-author, ”The Fall of the Moench Presumption: The Supreme Court’s Unfavorable (yet Favorable) Ruling for Fiduciaries in Fifth Third Bancorp v. Dudenhoeffer,” July 3, 2014.
- Co-author, ”Final Regulations Clarify the Tax Treatment of Payments by Qualified Retirement Plans for Accident or Health Insurance and Provide New Rules for Plans Purchasing Disability Insurance,” June 3, 2014.
- Co-author, ”IRS Releases Guidance Regarding Acceptance of Rollover Contributions,” April 15, 2014.
- Co-author, ”The IRS Sets Rules for Plan Sponsors to Implement 'Windsor' with Respect to Qualified Retirement Plans,” April 9, 2014.
- Co-author, ”IRA Rollovers Limited to One-Per-Year,” April 4, 2014.
- Co-author, “Guidance Issued for In-Plan Rollovers to Roth Accounts,” January 9, 2014.
- Co-author, “IRS Issues Final Rules on Mid-Year Suspension or Reduction of Safe Harbor 401(k) Plan Nonelective and Matching Contributions,” November 21, 2013.
- Co-author, “IRS Modifies ‘Use It or Lose It’ Rule for Health FSAs,” November 7, 2013.
- Co-author, “Year-End Checklist for Plan Sponsors of Retirement and Group Health Plans,” November 1, 2013.
- Co-author, “IRS and DOL Issue Guidance on Same-Sex Marriage,” September 6, 2013.
- Co-author, “DOL Allows Plan Administrators to Reset Timing of Annual Fee Disclosures,” July 29, 2013.
- Co-author, “Health Care Reform: With the Employer Mandate and Insurer Reporting Requirements Delayed – What’s Left for 2014?,” July 11, 2013.
- Co-author, “Health Care Reform: Employer Mandate and Insurer Reporting Requirements Delayed until 2015,” July 3, 2013.
- Co-author, “United States v. Windsor: The Impact of the Supreme Court’s DOMA Ruling on Employee Benefits” (republished in Today’s General Counsel, July 1, 2013.
- Co-author, “Trio of Agencies Issue Final Regulations on Wellness Programs,” June 11, 2013.
- Co-author, “Department of Labor Issues Guidance for Target Date Retirement Funds,” March 8, 2013.
- Co-author, “Health Care Reform – Practical Administration Update,” January 24, 2013.
- Co-author, “Proposed Regulations for New Reinsurance Fee,” January 22, 2013
- Co-author, “Proposed Guidance on Wellness Programs,” January 22, 2013.
- Co-author, “Final Guidance on the PCORI Fees,” January 22, 2013.
- Co-author, “Supreme Court Upholds The Health Care Law: Upcoming Deadlines And Issues Employers Now Face,” Originally published in Employment & The Law - Summer 2012, September 5, 2012.
- Co-author, “Is Your Health FSA an ‘Excepted Benefit?’ If Not, It May Be Subject to PPACA ,” August 16, 2012.
- Co-author, “Summary of Benefits and Coverage Updates,” August 16, 2012.
- Co-author, “What to Do with Your Medical Loss Ratio Rebates ,” August 16, 2012.
- Co-author, “Managing Employee Numbers: Planning for the Application of the ‘Employer Penalty’,” August 16, 2012.
- Co-author, “FSA Guidance Issued for Non-Calendar Year Plans,” July 26, 2012.
- Co-author, “IRS Issues Proposed Regulations Regarding Required Fees for Self-Insured Health Plans and Health Insurers,” July 26, 2012.
- Co-author, “Summaries of Benefits and Coverage: Additional Guidance and Coverage Examples Calculator ,” July 26, 2012.
- Co-author, “Health Care Reform Upheld,” June 28, 2012.
- Co-author, “The Next Frontier in Fiduciary Oversight Litigation?,” April 27, 2012.
- Co-author, “Health Care Reform – 2012 List of Counties Requiring Culturally and Linguistically Appropriate Services Issued by HHS,” April 10, 2012.
- Co-author, “New Guidance May Make Plan Sponsors Reconsider Offering Lifetime Income Options ,” February 29, 2012.
- Co-author, “DOL Finalizes Service Provider Disclosure Rules,” February 17, 2012.
- Co-author, “Health Care Reform – Guidance Published For Summary of Benefits and Coverage Requirement ,” February 16, 2012.
- Co-author, “New Year’s Checklist for Employers: Did You Miss Anything in 2011?,” January 11, 2012.
- Co-author, “Interest Rate for 401(k) Plan Participant Loans May Need to Be Prime Plus 2%,” September 22, 2011.
- Co-author, “Federal Bank Regulators Increase Exam Focus on Executive and Incentive Compensation,” October 15, 2010.
- Co-author, “Roth Conversions for 2010 Require Immediate Action by Plan Sponsors of Defined Contribution Plans,” October 8, 2010.
- Co-author, “New Regulations for Preventive Services and Appeals Processes Released,” August 2, 2010.
- Co-author, “Health Care Developments: DOL Issues Additional Mental Health Parity and Addiction Equity Act FAQ,” July 8, 2010.
- Co-author, “The Definition of ‘Grandfathered Status’ Under the New Health Care Reform,” June 18, 2010.
- Co-author, “Health Care Reform - Employer Focus for 2010,” April 14, 2010.
- Co-author, “Health Care Reform is Now Law,” March 29, 2010.
- Co-author, “What to Do with Your Medical Loss Ratio Rebates,” Health Lawyers Weekly, September 7, 2012.
- Co-Author, “Is Your Health FSA an ‘Excepted Benefit?’ If Not, It May Be Subject to PPACA,” August 16, 2012 (republished by Martindale.com, August 21, 2012).
- Co-author, Chapter 5, “Compensation Arrangements and Fringe Benefits, Corporations and Partnerships in Virginia, Volume 1, 2009.
Professional and Community Involvement
- Virginia Bar Association
- American Bar Association (Member, Taxation Section, Employee Benefits Committee)
- National Association of Public Pension Attorneys
- National Council on Teacher Retirement
- American Benefits Council
Rankings and Recognition
- Recognized as one of America's Leading Lawyers for Labor & Employment: Employee Benefits & Compensation by Chambers USA (2015-2016).
- Recognized by Best Lawyers in America®: Employee Benefits (ERISA) Law Richmond Lawyer of the Year (2015-2016).
- Recognized in The Best Lawyers in America in Employee Benefits (ERISA) Law (2001-2015).
- Partner, Troutman Sanders LLP, 2001-present
- Partner, Mays & Valentine, L.L.P., 1991-2001
- Associate, Mays & Valentine, L.L.P., 1984-1991
- Office of Chief Counsel, District Counsel, Foreign Operations, Internal Revenue Service, 1980-1984
- Legal Research Assistant, Appeals Division, Internal Revenue Service, 1978-1980
- Georgetown University, M.A., 1983
- University of Richmond, J.D., 1979
- University of Richmond, B.S., 1977