Lisette Sell

Of Counsel

T 415.276.6535 San Francisco
I strive to build a personal connection with clients while efficiently helping them untangle their benefits issues.
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Lisette is a member of the firm's employment services group where she focuses her talents on ERISA and employee benefit matters. Her vast experience over her 30 years in practice includes advising employers on documentary and operational compliance for their retirement plans and health and welfare plans.

Lisette understands the constantly changing legal landscape that a company's human resources face and provides practical legal guidance on how to adhere to local, state, and federal employee benefit laws and regulations, and how to correct instances of noncompliance.

To that end, she works closely with her clients by counseling them in areas such as 401(k) and 403(b) plans, as well as COBRA, flexible benefit plans, and Affordable Care Act compliance. She also has particular experience and strength in conducting fiduciary training for retirement plan committee members, trustees, and other plan fiduciaries.

Lisette speaks frequently on topics such as benefits issues and considerations with an aging workforce, employee benefits and student loan assistance, changes to the 401(k) plan hardship distribution rules, health reimbursement accounts and individual health coverage, how the SECURE Act impacts employee benefits, and how to design a wellness program.

Practice Highlights

Grant of individual prohibited transaction exemption by the Department of Labor

Drafted and submitted an application requesting an individual prohibited transaction exemption from the Department of Labor relating to a client's request to make an in-kind contribution of U.S. Treasury Bills to the client's defined benefit plans. Absent the exemption which was granted by the Department of Labor, such contribution by the plan sponsor (who is a party-in-interest with respect to the defined benefit plans) would have been a prohibited transaction under ERISA and the Internal Revenue Code.

Over 30 successful IRS voluntary compliance program submissions relation to qualified plan failures

Has submitted more than 30 Voluntary Compliance Program (VCP) applications to the IRS on behalf of clients who have discovered operational or documentary failures relating to their qualified retirement plan. Applications described the plan, the circumstances surrounding the failure, the proposed corrective methodology, and the changes to plan administration to avoid recurrence of the failure. Many of those applications were initially filed as anonymous applications with the client's identity revealed only after IRS approval of the proposed correction. With the exception of one VCP filing that was withdrawn at the client's request, IRS approval of the proposed correction (without revision or negotiation) was obtained in all cases.

Counseling on best practices in qualified retirement plan governance and fiduciary training

Frequently assists qualified retirement plan sponsors in developing a "best practice" plan governance structure designed to minimize liability related to plan fiduciary functions handled by the plan sponsor. The typical structure and process often involves the establishment of a committee to perform the fiduciary functions, the delegation of fiduciary authority to such committee, the designation of a corporate officer with oversight over the committee, and periodic fiduciary training for the committee members.