The McConnell Valdés Employee Benefits Practice group is the largest of its kind in Puerto Rico. Our team of attorneys - some of which are exclusively dedicated to this practice - offers clients timely and cogent counsel on a highly regulated and complex field.
As federal and Puerto Rico employee benefits laws and regulations change, we take a proactive approach in advising clients on everything from executive compensation issues to retirement plans. – so that they can attain critical business and human resources goals.
More than 100 clients have turned to us for guidance on U.S. and Puerto Rico employee retirement plans. We help them choose and create retirement plans that fit their particular circumstances.
Our clients are prominent manufacturers, retailers, financial service professionals, hospitals and medical service providers, venture capitalists, educational institutions, regulated utilities, not-for-profit and government organizations. We work closely with them to identify issues that impact their benefit programs – and craft solutions that fulfill their benefit needs.
We represent our clients interests through lobbying efforts and by assisting in the drafting of laws and regulations such as the retirement plan provisions in the Puerto Rico Internal Revenue Code of 2011.
What We Do
The McConnell Valdés Employee Benefits team:
- Drafts documentation that governs retirement plans, ensuring that they meet criteria for favorable tax treatment and comply with legal requirements
- Amends employee benefit plans
- Assists clients with terminating benefit plans
- Drafts and implements a full range of executive compensation packages
- Advises clients on employee benefits and executive compensation aspects arising from corporate transactions such as mergers and acquisitions, as well as workouts and reorganizations
- Advises clients on Puerto Rico and federal tax issues affecting employee benefit plans.
- Counsels clients on ERISA issues
- Provides tax advice on employment matters such as severance and settlement payments
News & Publications
- New Tax AttorneysNovember 18, 2014
- An McV Employee Benefits AlertFebruary 10, 2017
- Proposed Amendments to the Retirement Plan Provisions of the PR Internal Revenue Code of 2011 and Other Related MattersAn McV Employee Benefits AlertJanuary 19, 2017
- Proposed Amendments to the Cafeteria Plan Provisions of the Puerto Rico Internal Revenue Code of 2011An McV Employee Benefits AlertJanuary 16, 2017
- An McV Employee Benefits AlertJanuary 9, 2017
- An McV Employee Benefits AlertDecember 19, 2016
- Puerto Rico Treasury Exempts Employee Benefit Trusts from the Requirement of Annual Filing of Form 480.7(OE) and Repeals Circular Letter 12-02An McV Employee Benefits AlertMarch 17, 2016
- Puerto Rico Treasury Issues Revised Form 480.7(OE) and Changes Annual Filing Requirements of Employee Benefit TrustsAn McV Employee Benefits AlertMarch 14, 2016
- Reminder to Sponsors of PR Qualified Retirement Plans who adopted Plan Restatements and Qualification Amendments during 2015February 9, 2016
- January 4, 2016
- Incentives Act for the Payment of Taxes Prior to the Tax TransformationApril 1, 2015
- January 28, 2015
- Act. No. 238December 24, 2014
- PR Treasury Announces 2015 Retirement Plan LimitationsDecember 18, 2014
- Windsor Amendments Deadline ApproachingDecember 3, 2014
- PR Treasury issues Circular Letter of Tax Policy No.14-02October 1, 2014
- IRS Revenue Ruling 2014-24September 2, 2014
- Tax Prepayment on Accrued Value of Retirement Plan BenefitsAugust 11, 2014
- Post-Windsor Amendments to Puerto Rico Qualified PlansJune 10, 2014
- PR Treasury Announces 2014 Dollar Limitations for Qualified Retirement PlansFebruary 12, 2014
- Deadline to File Protective Refund ClaimFebruary 5, 2014
- DOMA Impact on Puerto Rico Employers and the Administration of Retirement and Health Benefit PlansOctober 8, 2013
- Extension for the Adoption of Plan Amendments and Filing of Qualification RequestsJune 10, 2013
- Deadline Approaching for Filing Plan Restatements and Certain Specific AmendmentsApril 10, 2013
- PR Treasury Clarifies Rules of Taxation Applicable to Distributions made by Retirement PlansJanuary 30, 2013
- Extension of Time to Adopt Retirement Plan Amendments and to File Requests for Qualification under PR Internal Revenue Code of 2011November 29, 2012
- Treasury Clarifies Limit on Deductions for Contributions to Trusts Funding Qualified Defined Benefit PlansNovember 12, 2012
- PR Treasury Issues Circular Letter to Establish Dollar Limitations for Qualified Retirement PlansNovember 12, 2012
- Deadline Approaching for Plan Qualification Requirements under the 2011 PR CodeJune 20, 2012
- PR Treasury issues guidance regarding Title I ERISA PlansMarch 1, 2012
- IRS Extends and Expands Relief Provided for Transfer of Assets from U.S. Retirement Plans to Retirement Plans in Puerto RicoDecember 29, 2011
- Puerto Rico Treasury to Issue Guidance Providing a 2013 Deadline for Puerto Rico Qualification of Retirement PlansDecember 13, 2011
- 2011 PR Code Qualified Retirement Plan Provisions are finally AmendedDecember 12, 2011