Patricia S. Cain advises employers on a broad range of employee benefit matters, including counseling employers on the design, implementation and administration of broad-based pension and health care plans and executive compensation arrangements. She represents employers in ruling requests and controversies before the Internal Revenue Service, Department of Labor and Pension Benefit Guaranty Corporation. She also represents employers and benefit plans in disputes arising under benefit plans, both in the administrative claims process and in federal court.
Patty’s representation of employers includes the following:
- Preparing or reviewing plan documents and participant communications for alignment with employer’s objectives and legal compliance;
- Educating employees who are fiduciaries on their responsibilities with respect to benefit plans;
- Advising employers on proposed changes to benefit plans to meet the employer’s objectives; and
- Assessing costs and risks associated with benefit plans in connection with buying or selling a business.
Patty also represents executives in negotiating employment agreements and severance arrangements, including negotiating equity participation and other benefits following an acquisition of the executive’s employer.
Patty uses her professional knowledge as a member of the board of directors of Lutheran Social Services of Illinois, a not-for-profit social service agency. In addition to being a board member, Patty chairs the Retirement Plans Committee.
Patty has been recognized as a leader in Chambers USA: America’s Leading Lawyers for Business (recommended in “Labor & Employment: Benefits & Compensation”) since 2008. Patty has been included in The Legal 500 United States 2014 and 2015 editorial (recommended in Employee Benefits and Executive Compensation). In 2014, Patty was selected as a Top 10 Employee Benefits Lawyer in Illinois by Leading Lawyers, and has been listed as an Illinois Super Lawyer since 2005. Patty was also presented with the “2016 Women of Influence Award” by Chicago Business Journal.
While in law school, Patty was a member and executive editor of the Northwestern Law Review and a member of the Order of the Coif.