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Jeff Belfiglio

Jeff Belfiglio guides clients through a wide range of issues related to employee benefits, including plan mergers, spinoffs, terminations, and restructuring in corporate transactions. He works with benefit plans of corporations, government agencies and nonprofit organizations, in both union and non-union situations. He is experienced with all types of qualified plans, 403(b) and 457 plans, nonqualified plans, and cafeteria plans.

Jeff has presented before the Washington State Software Alliance, Western Association of College and University Business Officers, Washington Society of CPAs, ISCEBS, Western Pension and Benefits Conference, Washington Self-Insurance Association, and the EBIA.

Jeff's clients include: Banner Bank, PeaceHealth, Hawaiian Airlines, Tacoma Employees Retirement System, and various contractors associated with the Department of Energy.

Practice Highlights
  • Handled terminations and freezes of defined benefit plans and cash balance conversions
  • Created multiple-employer plan to allow transparency between government contractors at Department of Energy site and handled transfers of legacy plans

Representative Experience

Deferred compensation plans for tax-exempt employers

Drafts both deferred compensation plans under Section 457(b) and 457(f) of the Tax Code for executives of credit unions, educational institutions, hospitals, and other nonprofit entities. (Ongoing)

Equity incentive plans for closely-held businesses

Designs stock option and stock incentive plans for closely-held corporations, including S corporations. Designs and drafts related shareholder agreements. Analyzes federal and state securities “blue sky” regulations in connection with issuances under plans. (Ongoing)

Executive employment and equity compensation agreements

Represents both employers and executives in negotiating employment agreements and equity compensation arrangements. (Ongoing)

Implement deferred compensation plans

Assisting with the design and ultimate drafting of a plan to enable executives of a for-profit corporation to make elective deferrals of salary and bonus compensation or to accrue supplemental retirement benefits under SERPs. Evaluating the plan for compliance with Tax Code Section 409A. (Ongoing)

Shareholder approval of golden parachute payments by privately held corporations

Identifying “disqualified individuals” for purposes of the Tax Code Section 280G golden parachute rules. Analyzing payments, including accelerated vesting of options and other equity-based compensation, transaction bonuses, and severance amounts, made in connection with business transactions to disqualified individuals and coordinate process to qualify for the Section 280G shareholder approval exception. (Ongoing)

Employee benefits merger for ProBuild

Implemented merger of three 401(k) plans and coordination of pension plan of controlled group after acquisition. (2007) Read more

IRS compliance negotiation for Western Peterbilt, Inc.

Negotiated complex VCP (voluntary compliance program) agreement with IRS for multiple operational failures including misclassification of employees. Read more

Professional & Community Activities

  • Western Pension & Benefits Conference
  • Seattle Pension Roundtable
  • National Association of Public Pension Attorneys

Professional Recognition

  • Received the H. Stewart Tremaine Award, Davis Wright Tremaine, 2012
  • Named one of the "Best Lawyers in America" in Employee Benefits Law by Best Lawyers, 2001-present
  • Selected to "Washington Super Lawyers" in Employee Benefits/ERISA, Thomson Reuters, 2010
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