Andrew R. Jacobs
Andy Jacobs is a Member of the firm and concentrates his practice in the areas of employee benefits, executive compensation, tax exempt nonprofit organizations, and securities law. While he practices out of the firm's Lexington office, he works with clients in all Stites & Harbison offices. His practice includes: 1) assisting clients in the design, drafting and operation of qualified retirement plans, ESOPs, 403(b) plans, 457 plans, nonqualified deferred compensation plans, health and welfare plans, and cafeteria plans; 2) litigating ERISA based claims; 3) the design of equity based compensation plans for key employees such as options and restricted stock; 4) advising clients regarding employee benefits issues in the merger and acquisition context; 5) drafting and designing executive and physician employment contracts; 6) advising tax exempt nonprofit organizations on corporate structure and compliance; 7) advising clients regarding Kentucky state sponsored governmental pension plans; and 8) securities law aspects of compensation plans.
Brass Tacks: Legal Services
Global Entrepreneurship Week 2019, Lexington, Kentucky, November 18, 2019
401(k) Update
Retirement Plan Legislative Update
ESOPs in Business Transfers
Affordable Care Act: Changing Landscape for Employers and Employees
Legal Implications and Considerations for Wellness Programs
Affordable Care Act Changing Landscape for Employers and Employees
Affordable Care Act and Construction Employers
ERISA Section 408(b): DOL Final Service Provider Fee Regulations
Litigating Current Issues Involving Fiduciaries and Employee Benefits Plans
2010 Health Care Reform
COBRA and HIPAA Update
Stimulus Bill Creates COBRA Subsidy
IRS Final Section 409A Regulations
New Statute Changes Nonqualified Deferred Compensation Rules
New Tax Law Changes Deferred Compensation Rules
Assisted client in voluntary withdrawal from the Kentucky Employees Retirement System.
Obtained dismissal of ERISA claims in federal court.
Represented company in the design and formation of an ESOP.
Performed due diligence and negotiated employee benefits related provisions in a stock acquisition and drafted executive employment agreements.
Advised employer concerning compliance with Affordable Care Act employer mandate provisions.
Assisted company in the termination of an underfunded defined benefit plan.
Advised nonprofit corporation in connection with its reorganization and restructuring.
Assisted in the formation of association health and investment trusts.
Business & Finance Service Group, Lexington Office Leader
Retirement Plan Committee, Chair
Audit Letter Response Committee, Member
Kentucky Bar Association, Chairman, Investment Committee
Kentucky Horse Park Foundation, Vice Chairman
International Museum of the Horse, Director
Lexington Employee Benefits Council, former President
Emory University School of Law
Emory University School of Law
Vanderbilt University
Andy has served as President of the Lexington Employee Benefits Council. He currently serves as the Vice Chairman of the Kentucky Horse Park Foundation and on the board of directors of the International Museum of the Horse at the Kentucky Horse Park. Andy enjoys golf and running.
Martindale-Hubbell® AV-Preeminent® Peer Review Rated
Best Lawyers in America®, Corporate Law (2016-24)
Key Employee Compensation Alternatives
Many companies struggle with how to best compensate and incentivize their key employees. Salary and short-term bonuses alone may not be sufficient. Many key employees seek to be rewarded for their long-term efforts and to share in any increase in value of the company. Andy Jacobs takes a look at the most common means adopted by companies in this Stites & Harbison Client Alert.
Retirement Plans: How to Guard Against Fiduciary Liability
In recent years, we have seen more and more ERISA class action claims against retirement plan sponsors and committees for breach of fiduciary duty. In the past, such claims were generally only made against very large plans but we are starting to see claims against smaller plans. The primary allegation is often that the fiduciaries failed to seek the lowest fees available or put another way the fiduciaries were “asleep at the wheel.” By one report, 463 lawsuits have been filed over the last eight years claiming fiduciaries failed to obtain the lowest available fees. Lexington office attorney Andy Jacobs takes a look at the issues in this Stites & Harbison Client Alert.
Stites & Harbison, PLLC Lawyers Named to 2024 Best Lawyers® Publications
LOUISVILLE, Ky.—Stites & Harbison, PLLC is pleased to announce that 101 of its lawyers are included in the 2024 edition of The Best Lawyers in America®.
Beware of Part-Time Employee 401(k) Plan Eligibility in 2024
Andy Jacobs takes a look at 401(k) plan eligibility by part-time employees in this Stites & Harbison Client Alert.
Expansion of Retirement Plan Self-Correction Program
Attorney Andy Jacobs explains the Secure 2.0 Act of 2022 and the expanded ability of plan sponsors to self-correct retirement plan errors without IRS approval in this Stites & Harbison Client Alert.
Stites & Harbison, PLLC Lawyers Named to 2023 Best Lawyers® Publications
LOUISVILLE, Ky.—Stites & Harbison, PLLC is pleased to announce that 98 of its lawyers are included in the 2023 Edition of The Best Lawyers in America©. Additionally, 11 Stites & Harbison attorneys are named as “Lawyer of the Year” and 19 attorneys are recognized in “Best Lawyers: Ones to Watch,” which recognizes attorneys early in their careers for outstanding professional excellence in private practice in the United States.
Equity Compensation Alternatives
For both established companies and new companies, it is often essential to allow key employees to participate in the company’s future growth and profitability through equity ownership. This helps align the interests of ownership and key employees.
Cybersecurity: Department of Labor Guidance for Retirement Plan Sponsors
As sponsors of 401(k) and other retirement plans, employers typically rely on plan service providers (i.e. recordkeepers, trustees, etc.) to maintain plan accounts, keep participant accounts secure and participant data confidential. As fiduciaries, employers must act with the care and diligence under the circumstances as would a “prudent” person.