David Whaley is a member of the Tax, Benefits and Wealth Planning Practice Group in the Corporate Department. He assists non-profit, private and public companies in all areas of employee benefits including design, implementation and compliance in providing tax qualified and non-qualified deferred compensation arrangements (e.g. 409A compliance), health and welfare arrangements and employee fringe benefits. This practice encompasses assisting employers with modifying and properly administering both small and large defined benefit and defined contribution plans; supplemental retirement programs; equity compensation programs; health and welfare arrangements; and employee fringe benefits programs.
David has extensive experience in assisting employers with complying with the mandates of the Affordable Care Act. This practice includes assisting in the design of eligibility modifications to ensure compliance with the terms of the “pay or play” mandate in a means that both protects the employer from penalties while ensuring the continued delivery of an employee benefit which is designed to attract and retain quality employees.
David has extensive experience in the area of Employee Stock Ownership Plans (ESOPs). This experience has facilitated his membership in the Ohio/Kentucky Chapter of the ESOP Association and participation with both the Ohio Employee Ownership Center and with the Emerging Leaders Committee of the National ESOP Association. David's ESOP practice experience includes representing both companies sponsoring ESOPs and ESOP trustees and fiduciaries in transactions between the sponsor, selling shareholders and the ESOP. David's ESOP representations include: representing an ESOP Trustee in the sale of 100% of the outstanding employer securities to a public company; representing a public company in a $180 million acquisition which included the sale of employer securities held in an ESOP; and representing numerous private companies in adopting ESOPs to facilitate the purchase of the company's stock.
In addition to his ESOP experience, David fills his practice by: assisting non-profit employers in drafting and administering qualified and non-qualified plans including 403(b), 457(b) and 457(f) plans; assisting professional employer organizations (PEOs) in offering employee benefit programs to their client organizations; and representing plan sponsors before the Department of Labor, the Internal Revenue Service and the Pension Benefit Guaranty Corporation in connection with audits of employee benefit plans.
David also regularly makes presentations on employee benefits matters. These presentations are generally directed toward human resource professionals on emerging topics of interest in the employee benefits community including the implementation of consumer driven healthcare programs, compliance with new statutory mandates for supplemental retirement programs and compliance with the requirements of the Affordable Care Act.