Overview
Brian J. Tiemann counsels public and private companies on a broad range of employee benefit matters, including matters related to pension plans, 401(k) plans and executive and incentive compensation. He advises plan fiduciaries with respect to their fiduciary duties, investment policies and alternative investments. He also advises multinational clients on global employee benefits matters, particularly with respect to global incentive compensation plans. Brian has extensive experience negotiating investment management agreements and service provider agreements.
Brian regularly advises clients on prohibited transaction issues and has successfully obtained prohibited transaction exemptions from the US Department of Labor on behalf of multiple clients. His experience includes advising on compliance with statutory and class prohibited transaction exemptions, as well as on captive reinsurance arrangements.
He represents clients in negotiations before the Internal Revenue Service and the US Department of Labor and Pension Benefit Guaranty Corporation, including in connection with plan audits. He has assisted clients with internal compliance reviews, voluntary correction filings under the Employee Plans Compliance Resolution System (EPCRS) and applications for determination letters on tax qualification.
Brian is a frequent author and speaker on employee benefits issues related to the investment of tax-qualified plan assets and issues resulting from domestic partnerships and same-sex marriages. Brian has presented at the Association for Financial Professionals’ annual conferences, the New York University Institute on Federal Taxation and the Out & Equal Workplace Summit.
Brian serves on the Firm’s Diversity & Inclusion Committee and the Recruiting Committee, and co-heads the Firm’s summer associate programs for the Chicago office.
Results
- Advised multiple clients on the Department of Labor’s recent regulations expanding the definition of fiduciary, including advice specific to the appointment of service providers as fiduciaries to provide participant investment advice
- Negotiated multiple investment management agreements each related to the investment of more than $1 billion in assets of tax-qualified pension plans and nuclear decommissioning trusts
- Represented multiple clients, including a Fortune 500 company, in the transition of their 401(k) plans, pension plans, equity and incentive compensation plans, supplemental deferred compensation plans and employee stock purchase plans to new record-keepers
- Advised multiple clients on the termination of their pension and 401(k) plans, including obtaining determination letters from the IRS on the tax-qualified status of the plans upon termination
- Counseled multiple clients on withdrawal from multi-employer plans, including negotiation of withdrawal liability and the design and implementation of replacement 401(k) plan benefits for union employees
- Obtained determination letters from the IRS on the tax-qualified status of pension and 401(k) plans
- Obtained compliance statements from the IRS through the voluntary correction program under the Employee Plans Compliance Resolution System (EPCRS)
Recognitions
- Best Lawyers in America, Employee Benefits (ERISA) Law, 2022-2025
- Legal 500 US, Recommended, 2023
Community
- Arts Midwest, board of directors
- Legal Counsel for Health Justice, board of directors
- Amherst H. Wilder Foundation’s James P. Shannon Leadership Institute, alum
Credentials
Education
University of Virginia School of Law, JD, 2008
St. John’s University, BA, magna cum laude, 2000
Admissions
Illinois
