David Godofsky is the leader of the firm’s Employee Benefits & Executive Compensation Group, which was named “Law Firm of the Year” by U.S. News – Best Lawyers® for ERISA Litigation in 2016 and Employee Benefits (ERISA) in 2015. His team of litigators represents major employers in cutting-edge class action and other bet-the-company litigation matters nationwide, including the Supreme Courts of Florida and Illinois. David’s ability to integrate legal analysis with cost, funding, administration and benefit design considerations is informed by his years of experience as an actuary and consultant.
David is a Fellow of the Society of Actuaries, Enrolled Actuary, former director of the Conference of Consulting Actuaries and former vice chairman of the Education & Examination Committee of the Society of Actuaries. He currently serves on the program committee of the Enrolled Actuaries Meeting. In response to his comment letters, the U.S. Department of the Treasury corrected an error in pension funding regulations and changed the rules for determining whether cash balance plans satisfy the backloading requirements.
Before joining the firm, David spent 18 years designing, implementing and administering employee benefit plans, determining costs and helping employers control costs and get the most for their employee benefits budgets. His clients seek his advice for practical, workable solutions to complex problems and for the ability to make highly technical concepts understandable to executives, employees, judges and arbitrators.
- Represented the governor of Florida and the State of Florida in a case where the plaintiffs claimed that the state’s new pension law for state and municipal employees, reducing COLAs and imposing a 3 percent employee contribution, violated the state constitution. The Florida Supreme Court ruled in favor of the state, with an impact of more than $800 million per year in Florida’s budget. Scott et al., v. Williams et al.
- Represents the Retirement Plan for Chicago Transit Authority Employees in the Supreme Court of Illinois in a case where employees challenged the state constitutionality of the cost-saving modifications to the CTA’s retiree medical benefits that CTA negotiated with its unions. A decision is pending in the case, Matthews v. Retirement Plan for CTA Employees.
- Represented numerous companies in negotiations with the Pension Benefit Guaranty Corporation (PBGC) on a variety of issues, including 4062(e) liability.
- Drafted a comment letter on proposed liquidity shortfall funding regulations signed by the chief actuaries of Towers Watson, Aon Hewitt, Buck Consultants, Principal Financial Group, The Segal Company, Savitz and Turpin Consulting Group. In September 2015, the Department of the Treasury issued the final regulation implementing the change to the proposed regulation that Mr. Godofsky requested.