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Thomas G. Schendt

Partner


Tom Schendt is a partner in the firm’s Employee Benefits and Executive Compensation Group. His practice focuses on employee plan litigation, agency civil and criminal audits, investigations and disputes and voluntary compliance initiatives involving the Internal Revenue Service, Department of the Treasury, Department of Labor, Pension Benefit Guaranty Corporation, U.S. Securities and Exchange Commission and the Department of Justice. Tom also regularly counsels large employers on the practical effect of various qualification requirements that are issued by appropriate government agencies. This includes assisting clients with the execution of various plan administration and qualification requirements under Titles I & II of ERISA.

Tom also focuses on fiduciary issues affecting plan providers, including plan fee disclosure, exemption issues, and implications of recent PPA provisions.

Prior to joining the firm, from 1988 to 1996, Tom held a number of positions with the Internal Revenue Service. As technical assistant to the associate chief counsel, Employee Benefits and Exempt Organizations (EBEO) for the Office of Chief Counsel, Internal Revenue Service, Tom assisted in the coordination of national employee benefits litigation for the IRS, including plan disputes and compliance initiatives. He also acted as a liaison between the National Office of the Internal Revenue Service and various field offices, including Exam and Appeals. The unique combination of Tom’s prior experience dealing with sensitive IRS, DOL and SEC compliance issues plus his understanding of the practical aspects in the administration and management of retirement plans provides clients with strategic alternatives in a cost effective manner.

Representative Experience

  • Lobbied Treasury and IRS on various health and welfare matters including Health Savings Account implementation.
  • Lobbied DOL on Plan Fee issues, default investment and investment advice concerns.
  • Lobbied Treasury and IRS on various retirement plan matters including cash-balance remediation.
  • Lobbied SEC concerning various matters affecting retirement plan administrators, including mutual fund restitution issues.
  • Coordinated over 50 IRS/DOL civil and criminal audits and investigations. Obtained very favorable results including, in many cases, closure of audits without penalty or indictments.
  • Has implemented over 60 closing agreements with the IRS, DOL, SEC and Pension Benefit Guarantee Corporation affecting issues relating to areas including retirement plan and welfare plan compliance and reporting.
  • Has designed corporate governance infrastructures relating to the fiduciary concerns over benefit plan administration for boards of directors for several Fortune 100 companies.
  • Assisted a client in correcting errors that affected over 175,000 active and retired employees. Led the negotiations of several corrections involved in this matter with the IRS. The IRS approved a level of correction that saved the client an estimate of approximately $85 million in potential exposure.
  • Provides in-house training for clients to assist in the education of their employees on their benefit programs.
  • Advises various benefit plan committees on corporate governance matters as they relate to ERISA roles and responsibilities.
  • Regularly conducts employee plan compliance self-reviews and provides alternative approaches to addressing complex plan administration issues.


Publications
Third Qtr 2009
Third Qtr 2008
"Regulatory Update—The Summer's Proposed Regulations at DOL and IRS," The SPARK Journal, Vol. 18, No. 3, Third Quarter, 2008.
Second Qtr 2008
"Washington Update — LaRue v. DeWolff, Boberg & Associates: Implications for the Defined Contribution Plan Industry," The SPARK Journal, Vol. 18, No. 2, Second Quarter, 2008.

Thomas G. Schendt

The Atlantic Building
950 F Street, NW
Washington, D.C. 20004-1404
Phone: 202-239-3330
Fax: 202-654-4830

Education

  • Marquette University
    (J.D., 1985)
  • Marquette University
    (M.B.A., 1981)
  • Marquette University
    (B.S., 1980)

Admitted to Practice

  • District of Columbia
  • Wisconsin