Kenneth J. Sachs

Ken Sachs is the Chair of Bodman’s Employee Benefits and Executive Compensation Practice Group and is based in the firm’s Troy and Detroit offices. He has over 20 years of experience advising clients regarding their employee benefit plans, executive benefit programs and business planning. He also represents public and private entities concerning their corporate, fiduciary, and governance responsibilities.He designs, drafts, and establishes retirement plans, welfare plans, medical plans (insured and self-funded), fringe benefits (such as cafeteria plans, flexible spending accounts, health savings accounts, dependent care assistance programs, disability policies, adoption assistance and education-related plans) and various other programs provided to employees. He is an expert as to the administration of such plans, including the correction of administrative errors. Ken works with defined contribution plans, 401(k) plans, pension plans, cash balance plans, 457(b) and 457(f) plans, 403(b) plans and various other retirement benefits. In addition to drafting plan documents, summary plan descriptions and participant communications, Ken actively assists clients with audits, non-discrimination testing and the proper administration and funding of such plans. Ken also advises clients as to the design and implementation of incentive compensation programs, such as stock options, restricted stock, phantom equity and other compensatory arrangements. This includes working with all types of employers, including governmental and tax-exempt entities. Ken is a leading expert on Code Section 409A. As to welfare plans, Ken drafts plan documents, summary plan descriptions, notices of privacy practices, business associate agreements, summaries of benefits and coverage, participant communications and employer manuals and protocols necessary to ensure legal compliance, including the HIPAA Privacy and Security Regulations. He frequently leads HIPAA training sessions for his clients. Additionally, he has extensive experience with FMLA, COBRA, Health Care Reform and other employment-related laws and regulations. Ken counsels and provides guidance concerning governmental retirement and welfare plans, including Code Section 403(b), 457(b) and 457(f) retirement plans. His past projects have included drafting plan documents and participant communications and negotiating contracts and agreements with third party vendors, the Internal Revenue Service, and Department of Labor. Ken has significant experience counseling clients (sellers and buyers) as to the employee benefit implications of mergers and acquisitions, including the legal, financial and practical risks and planning opportunities. His legal practice also includes drafting and negotiating insurance and third party vendor contracts, including non-disclosure and data privacy agreements.

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