Timothy D. S. Goodman
Partner
Timothy Goodman’s practice focuses on assisting employers with executive compensation and employee benefit plans. Employers turn to Tim for advice in the areas of qualified and nonqualified retirement plans (including 401(k), 403(b), 457(b), 457(f) plans, and section 409A), welfare plans (including cafeteria, dependent care, education assistance, health FSAs, HRAs, HSAs, parking, and tuition plans, and wellness programs), severance, and executive compensation. This includes advising employers on responding to benefit claims, answering questions regarding the extension of health coverage under COBRA and state law, assisting them with Form 5500, drafting employee communications, USERRA, complying with the HIPAA privacy and security rules, and worker classification. Employers also turn to Tim for advice on executive compensation and deferred compensation programs.
Tim also advises employers by updating them on legislation (such as the American Recovery and Reinvestment Act, the Pension Protection Act, the American Jobs Creation Act, the Veterans Benefits Improvement Act, and the Sarbanes-Oxley Act). This includes advising employers on the impact of section 409A on nonqualified deferred compensation plans and the COBRA subsidy requirement under the economic stimulus bill. Tim also assists employer with new regulations, such as the GINA Part I regulations issued by the DOL, IRS, and Centers for Medicare & Medicaid Services; and the GINA Part II regulations from the EEOC. In addition to advice, Tim works with employers on benefit issues that arise in M&A transactions and employer securities in retirement plans. Employers regularly have Tim assist them with plan drafting and design, including plan formation, IRS qualification, administration, merger, and termination of employee benefit plans, and the submission of errors under voluntary correction programs including IRS employee plan correction program (EPCRS) and the delinquent filer program (DFVC).
Admissions
Honors
- Law & Politics “Rising Star”
Education
- University of Minnesota Law School
J.D., 1998, magna cum laude
Member, Minnesota Law Review
Director, National Moot Court
- University of Minnesota
B.A., Philosophy and Ancient Near Eastern Studies, 1993
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