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THOMAS J. MCCORD

Thomas J. McCord’s practice deals primarily with employee benefits, including all ERISA issues, retirement plans, insurance and flexible benefit programs and executive compensation arrangements. He is also experienced in the areas of tax-exempt organizations and estate planning and administration.

What do you focus on?

My three decades of experience enable me to quickly analyze and develop an action plan for a broad range of employee benefits issues presented by clients. Recently, I have been assisting many clients in the following areas.

Retirement plans

Clients commonly call me regarding operational errors they have discovered in their plan administration. They are often quite concerned about the potential effects on the qualification of their plans and the need for potential IRS filings. I work with my clients to determine the extent of any problem and explain the alternatives available for making correction. These corrections often can avoid any IRS filing.

Executive compensation

Increasingly I am consulted by both private and public companies about arrangements for attracting, incenting and retaining their key employees, using either equity or cash-based benefits. For example, I recently designed and documented a combined equity and cash retention benefit program for a company that needed to be able to retain its key executive through and after a potential sale.

Tax-exempt organizations

I enjoy counseling nonprofit and tax-exempt organizations on how they can make their unique compensation goals harmonize with special tax code rules. In this regard I recently helped a hospital restructure a deferred compensation program for its senior staff and physicians so as to satisfy better the complex requirements of Sections 457 and 409A of the tax code.

What do you see on the horizon?

I see a growing number of clients interested in exploring alternatives for special compensation arrangements to attract and retain key employees, including supplemental retirement, equity and health benefits.

Media Clips

  • IRA rollover rule poses trap for lawyers, clients
    Massachusetts Lawyers Weekly | July 21, 2014
    Boston Labor & Employment partner Tom McCord discusses the individual retirement account rule providing the ability to conduct multiple indirect rollovers from one IRA to another.
  • Supreme Court's DOMA Ruling Already Keeping Local Law Firms Busy
    Boston Business Journal | June 28, 2013

    Boston Employee Benefits partner Tom McCord and Boston Private Clients associate Jen Collins discuss the business impact the U.S. Supreme Court’s Defense of Marriage Act (DOMA) ruling.

  • How to Make Your 401(k) Last Forever: The Pension Rollover
    Forbes | August 8, 2012

    Boston labor and employment partner Tom McCord provides commentary in this article discussing renewed interest in a lesser-known, potentially cheaper option to guarantee lifetime payments of 401(k) retirement account balances—the DC to DB rollover.

  • . . . View all . . .
  • Supreme Court Sends Employers Scrambling
    Long Island Business News | July 5, 2012

    This article addresses the impact of the Supreme Court’s health care reform decision on employers. Labor & Employment partner Tom McCord provides commentary.

  • Is Your 401(k) Up To Par?
    Forbes | June 21, 2012

    Boston Labor & Employment partner Tom McCord is quoted in this feature article discussing the results of an Internal Revenue Service survey looking at what features employees can expect—or demand—in their plans.

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Thomas J. McCord