I am an attorney and counselor who assists clients with complex employee benefits, tax, estate, and corporate matters.

Mr. Powers advises clients on all aspects of employee benefits and ERISA, including qualified and nonqualified retirement plans, welfare benefit and cafeteria plans, government plans, executive compensation, fiduciary issues, benefit issues arising in mergers and acquisitions, benefit-related litigation, the Affordable Care Act, COBRA, and HIPAA. He has extensive experience in taxation and estate planning, including federal, international, and state planning, as well as compliance for corporations, partnerships, S corporations, exempt organizations, and individuals. Mr. Powers advises numerous business organizations with respect to governance and vendor and customer agreements.

Services

Business & Corporate

Our business is business–your business. We offer vast experience in a full array of corporate legal services.

Credentials

Education

  • University of Illinois at Urbana-Champaign, College of Law, 1984
    • J.D.
  • Western Illinois University, 1980
    • B.A., with honors, Business Administration

Memberships

  • Chicago Bar Association
    • Employee Benefits and Federal Taxation Law Committees

Admissions

  • Illinois, 1984
  • U.S. Tax Court, 1989
  • U.S. District Court, Northern District of Illinois, 1986

Professional Achievements

  • Illinois Leading Lawyers, 2014-2019
  • "The Illinois Civil Union Act and Employer-Provided Health Insurance Plans." Labor & Employment Newsletter, Illinois State Bar Association, July 2011.
  • "Healthcare Reform: Guidance and Then Some." Law Office Management Newsletter, Illinois State Bar Association, April 2011.
  • "Healthcare Reform: Guidance and Then Some." InterBusiness Issues, February 2011.

Experience

Representative Matters

  • Advised multiple employers in connection with termination of defined benefit pension plans and de-risking and annuitizing pension plan liabilities. Edit
  • Negotiated the terms of multimillion-dollar gift agreements with charitable organizations. Edit
  • Successfully reduced or eliminated IRS assessment of employer shared responsibility penalties under the Affordable Care Act. Edit
  • Lead negotiation and drafting of multimillion-dollar sale of business with multiple locations, including negotiation and drafting of asset purchase agreements, disclosure schedules, assignment documents to transfer obligations to purchaser, along with other corporate documentation and consents, including director consents.

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Presentations

  • Community Bankers Association of Illinois, Human Resources Round Table—2016, "Affordable Care Act Planning for 2017” and “ERISA Traps and Compliance Nightmares,” October 18, 2016, Springfield, IL.
  • Community Bankers Association of Illinois, HR Update: Digesting the Alphabet Soup Served by FMLA, ADA, ACA & FLSA, "Affordable Care Act (ACA) Large Employer Penalties and Reporting," November 5, 2015, Springfield, IL.
  • National Business Institute, Human Resources Law: What You Need to Know Now Seminar, "Affordable Care Act Update" and "COBRA/FSA Update and ERISA Traps," September 17, 2014, Peoria, IL.
  • Osher Lifelong Learning Institute, Bradley University Continuing Education Program, "Navigating the Legal Maze of Healthcare Reform," October 9, 2013, Peoria, IL.
  • Illinois State Bar Association, 8th Annual Solo and Small Firm Conference, "Healthcare Reform for Small Employers," September 13, 2012, Itasca, IL.
  • Society of Human Resources Managers, Central Illinois Chapter, Annual Legislative Conference, "Healthcare Reform: Where We've Been and Where We're Going," April 12, 2011, Springfield, IL.
  • Community Bankers Association of Illinois, Human Resources Conference, "Healthcare Reform: Where We've Been and Where We're Going," February 25-26, 2011, Lisle, IL; Springfield, IL.

Community

Community

Mr. Powers is an active member of the board of trustees of the Merit School of Music.