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Alexia L. Faraguna Associate

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Charlotte T +1 704 343 2060 F fax +1 704 805 5060
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Employers turn to Alexia for legal advice on employee benefit and executive compensation matters arising under the Employee Retirement Income Security Act of 1974 and Internal Revenue Code.

She counsels clients on compliance matters concerning health and welfare benefits (active and retiree arrangements), fringe benefits, qualified retirement plans (including tax-exempt, governmental and church plans), and executive compensation.

Alexia is a frequent author on topics with practical implications for the administration of employee benefit plans.

She received her undergraduate degree from Stony Brook University and her juris doctorate from Brooklyn Law School. While attending law school on a Carswell Merit Scholarship, she served as a notes editor for the Brooklyn Law Review. Alexia also received several CALI Excellence for the Future Awards.

Experience

  • Represents clients in connection with corporate transactions (buy and sell side) to advise on employee benefit plan and executive compensation compliance matters, including benefit plan transition considerations.
  • Counsels clients on employee benefits and ERISA issues involved when negotiating credit and financing agreements.
  • Health and Welfare Benefits: Advises clients with regards to Consolidated Appropriations Act, 2021 (No Surprises Act) compliance; IRC 125 Cafeteria Plan compliance; nondiscrimination testing issues; preparation of plan documentation; MHPAEA compliance; wellness plans; domestic partner benefits; HIPAA compliance (as applied to sponsorship of employer-sponsored group health plans); MEWA compliance; and participant claims and plan documentation requests.
  • Fringe Benefits: Advises clients on taxation and reporting considerations related to fringe benefits e.g., educational assistance programs (design, formation, tax advantages), adoption assistance, etc.
  • Qualified Retirement Plans: Advises clients on creation and maintenance of tax-qualified retirement plans such as defined benefit pension plans (including cash balance pension plans), 401(k) plans, profit-sharing plans, employee stock ownership plans (ESOPs) and money purchase pension plans), which includes: submitting tax-qualified retirement plans to the IRS for favorable determination letters; preparation of participant communications and government filings; correcting plan document and operational errors under the Self Correction Program (SCP) and Voluntary Correction Program (VCP) under the IRS’ Employee Plans Compliance Resolution System; and assisting in the adjudication of participant claims.
  • Nonprofit and Tax-Exempt Organizations: Advises nonprofit and tax-exempt organizations on the design, implementation and administration of specialized employee benefit plans, such as: 403(b) plans and 457(b) and 457(f) deferred compensation plans.

 

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