Elizabeth Drake is a principal in the firm’s Plan Sponsor group. Her practice covers Employee Retirement Income Security Act (“ERISA”) and tax requirements applicable to retirement plans and non-qualified arrangements, health and welfare benefits and fringe benefit programs. In recent years, Elizabeth’s practice has focused on counseling and advocacy work on behalf of large plan sponsors on complex and sensitive matters primarily involving their defined benefit pension and 401(k) plans.
Elizabeth’s in-depth understanding of the relevant legal requirements and day-to-day administrative issues make her uniquely able to guide clients through the challenges presented by ever-evolving legal requirements and complex administrative and plan document/drafting issues. She is known for helping clients reach practical solutions and handle sensitive matters.
A large portion of Elizabeth’s practice involves assisting Fortune 150 companies with fiduciary and “plan governance” matters applicable to 401(k) and defined benefit plans, pension plan de-risking activities, including the settlement of pension plan liabilities through lump sum window programs, pension plan terminations, annuity placements, and plan mergers/consolidations. She helps clients navigate complex regulatory requirements involving plan administration, testing (including qualified separate lines of business) matters, and employee communications/disclosures.
Elizabeth also represents clients before the IRS National Office in connection with technical advice proceedings, letter ruling requests, and closing agreements. She also assists clients in securing closing agreements with the IRS under the Employee Plans Compliance Resolution System (“EPCRS”) and its Voluntary Closing Agreement Program.
“She’s a fabulous lawyer. She’s meticulous and really thinks every issue through. She’s incredibly dedicated and thoughtful. She’s very good at advising in-house lawyers.” – Client