Biography

Terry counsels executives of businesses and tax-exempt entities on how to comply with tax and labor laws governing employee benefit plans and their fiduciaries.  She also represents clients faced with Internal Revenue Service or Department of Labor audits and assists them in voluntarily correcting any tax deficiencies or fiduciary violations.

Terry drafts executive employment agreements, severance agreements and other nonqualified deferred compensation agreements, and advises clients on Code § 409A and other tax implications of compensatory arrangements.

Terry advises businesses on multiemployer plan issues, including withdrawal liability, delinquent contributions audits and lawsuits, and the Pension Protection Act of 2006 requirements for multiemployer plans with significant funding deficiencies.

In addition to employee benefits, Terry also advises non-profit entities on federal and state income tax matters relating to their establishment, operations, and corporate governance matters.

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Representative Matters

• Represented an executive of a company in a criminal investigation conducted by the Department of Labor relating to unpaid participant contributions to the company's 401(k) plan.
• Represented a company that had received a notice of assessment of withdrawal liability from a multiemployer plan and settled with the plan administrator for substantially less than the originally assessed amount.
• Represented an oil and natural gas company before the Internal Revenue Service and the Department of Labor in the voluntary correction of substantial operational and fiduciary failures involving its 401(k) plan.
• Represented a client before the Internal Revenue Service and Pension Benefits Guaranty Corporation in submitting an application for waiver of the minimum funding requirements for its defined benefit plan.
• Drafted nonqualified deferred compensation plans for employees of a community college.
• Drafted a 403(b) plan for a non-profit entity and advised the executives serving as fiduciaries on how to comply with the new Code and ERISA fiduciary rules.
• Advised a trade association that sponsored a trust providing insured health and welfare benefits to its members on how to distribute demutualization proceeds to the contributing members in compliance with ERISA.
• Drafted a form investment advisory agreement for an investment advisory firm providing investment and other services to 401(k) clients.
• Advised numerous employers of changes required by the new health care reform law and drafted amendments to plan documents and notices to participants to comply with the new requirements.
• Represented a company in liquidation that had been assessed substantial penalties under ERISA by the Department of Labor for failure to file Forms 5500 and settled with the Department of Labor for substantially less than the originally assessed amount.
• Drafted omnibus stock option plans for business executives and directors and advised the company on the federal and state laws governing the various types of awards (e.g., incentive stock options, nonstatutory stock options, restricted stock, stock appreciation rights, and other stock based awards).

Professional Affiliations

• American Bar Association, Employee Benefits Committee of the Section of Labor and Employment Law and the Section of Taxation
• District of Columbia Bar, Employee Benefits Committee of the Section of Labor and Employment Law
• Society for Human Resource Management
• Pittsburgh Human Resources Association
• Employee Benefits Committee of the U.S. Chamber of Commerce
• WEB (Worldwide Employee Benefits Network)
• American Health Lawyers Association

Background

• 2011  Metz Lews Brodman Must O'Keefe LLC
• 2008  Baker & Hostetler
• 2006  Ober Kaler
• 2000  Schmeltzer, Aptaker & Shepard
• 1986  Connerton & Ray
• 1982  U.S. Department of Labor, Special Litigation Division