Photo of Jenna Wallace

Jenna Wallace

Jenna Wallace advises clients on all aspects of employee benefits and executive compensation. Her practice covers a broad spectrum of plans and arrangements, such as:

  • tax-qualified retirement plans, including traditional and hybrid pension plans, 401(k) plans, and profit-sharing plans;
  • health and welfare plans, including medical, disability, cafeteria and severance plans;
  • equity-based compensation, including stock options, restricted stock, profits interests and phantom equity;
  • nonqualified deferred compensation plans;
  • employment, consulting and restrictive covenant agreements; and
  • international employment arrangements.

Jenna guides employers with respect to the administration of 401(k) and pension plans (including standards applicable to the investment of ERISA-covered assets), the requirements of the Patient Protection and Affordable Care Act, Section 409A of the Internal Revenue Code, management employment and equity arrangements, employee separations and international employment issues. Jenna also advises public and private companies in connection with mergers, acquisitions, and other corporate transactions, and advises private funds regarding investments by public and private employee benefit plans.

Jenna has an active pro bono practice, with a focus on assisting organizations working in Africa and other parts of the developing world.

Private equity and other investment fund managers can exhale (at least a little bit) following a recent court ruling that investment funds are not liable for the ERISA obligations of their portfolio companies.  The ruling expressly rejects a 2007 Pension Benefit Guaranty Corporation (“PBGC”) letter ruling and contradicts an earlier court decision that supported the PBGC’s position that a private equity fund could be liable for the pension liabilities of one of its portfolio companies.  While the new ruling by no means settles the issue, investment fund managers should welcome this development.
Continue Reading Investment Funds Not Liable for Pension Plans of Portfolio Companies, Court Rules

When an employee benefit plan is amended in a way an employer anticipates could be controversial, an employer might seek a declaratory judgment that the amendment complies with ERISA.  Generally, a declaratory judgment action will preclude later challenges by plan participants.  However, a recent decision by the Third Circuit demonstrates
Continue Reading Employer’s Declaratory Judgment Action Dismissed in Favor of Later Suit by Union