Overview
Lowell Walters helps employers minimize risks while offering meaningful retirement, medical, or other fringe and employee benefits to employees. He focuses on issues that arise whenever an employer offers employees something of value, and draws upon his rich background with complex organizations and plan designs to offer novel solutions to intricate situations.
Clients appreciate Lowell’s practical solutions. He addresses the questions asked while anticipating questions that were not asked, and follow-up questions likely to arise. Lowell tailors the solutions and is flexible in terms of his role, whether clients want to actively participate in the process or prefer to delegate as much as possible. They find his frequent communications and timeliness reassuring and gain confidence through his ability to communicate complex concepts clearly.
Lowell married his college sweetheart and has two wonderful children. He strives to balance his devotion to his family with his devotion to his clients.
What issues are you facing?
- I received a notice from the DOL or IRS
When Lowell represents employers during a DOL or IRS investigation or audit, he knows what points to argue and when to focus on minimizing penalties. And he appreciates that clients’ other obligations, including the need to operate their business or perform other functions within the organization, do not end when the DOL or IRS letter arrives.
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- I have a retirement plan question or problem
Lowell minimizes risks and liabilities by addressing Internal Revenue Code and ERISA issues facing employee benefit plans, including reviewing documents and provider contracts to point out “problem areas,” addressing concerns raised by the employer or another adviser, assisting with the fiduciary obligations of hiring service providers (through RFPs or otherwise, and addressing “one-off” questions.
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- I have a medical insurance plan question or problem
Whether questions involve a self-insured or fully insured plan, a question about the Affordable Care Act, cafeteria plans, COBRA, HIPAA, or one of the myriad other laws affecting medical plans, Lowell can assist. He minimizes risks and liabilities by addressing Internal Revenue Code and ERISA issues facing employee benefit plans, including reviewing documents and provider contracts to point out “problem areas,” addressing concerns raised by the employer or another adviser, and addressing “one-off” questions.
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- My organization’s benefits structure is complex and I need to seek advice on occasion
Employee benefit plans are inherently complex, but sometimes an organization’s size or structure exacerbates the problem. Lowell works with private companies, nonprofits, and governmental entities, and the differences in the application of ERISA and the Internal Revenue Code to plans sponsored by those distinct groups give him insight into potential solutions and complications that other advisers do not have.
Lowell credits his work with hospitals, colleges, and universities for honing his creativity. Their diverse compensation structures and employee classifications exacerbated by inconsistent application of ERISA and Internal Revenue Code rules demand creative solutions.
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- I need help with executive-level benefits
The primary goal of employee benefit programs is to reward employees whom the organization can’t afford to lose. Lowell works with companies and executives to devise bonus, stock bonus, and benefit programs geared toward executive-level employees. Whether representing the executive or the organization, he understands the importance of preserving the integrity of that vital relationship. Executives drive the organization and the organization’s success is the ultimate goal.
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- I have an employment tax problem
Employers consult Lowell on a range of employment tax issues when they are unsure of their employment tax obligations, discover that their employment taxation has been handled incorrectly, or want to restructure benefits to minimize employment tax obligations. The employee benefits area highlights the complexity of employment taxation rules. Amounts contributed to 401(k) and 403(b) plans are sometimes, but not always, subject to employment taxes. Nonqualified and 457 plans are generally subject to employment taxes, but the timing of employment taxation can differ. Lowell’s ability to navigate this difficult area allows him to address employment tax issues properly, even if they do not relate to an employee benefit plan.
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- I need help and none of the above apply
While the most common employee benefits are retirement and group health benefits, the multitude of benefit options and issues that can arise are too numerous to list, from adoption assistance to working condition fringe benefits. Lowell helps employers structure novel benefits or, if necessary, recommends another attorney or adviser who can.
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- I do not know if I need legal help or some other kind of help
Sometimes plan sponsors or administrators need legal advice and sometimes they need non-legal professionals to help implement or operate part of their plan. Since employee benefit plans are inherently complex, there are a lot of professionals who may be involved, from actuaries, third-party administrators, and investment advisers to COBRA administrators and insurance consultants.
Lowell understands that hiring the right advisers is a critical decision for a plan sponsor. He draws on his experience to help his clients select the adviser who brings value to participants while mitigating plan sponsor risk. This can involve assisting with the formal selection processes or recommending professionals with a proven record of accomplishment.
Sometimes the correct approach is for the organization’s team of professionals to work together. Lowell enjoys collaborating with other service providers to produce an efficient solution that avoids administrative nightmares.
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Featured Insights
I had a horrible experience with the first law firm I hired. My experience with Lowell is above and beyond what I had anticipated. When using the previous firm, I was reluctant to pick up the phone, email them questions or seek their advice. Lowell is the exact opposite - when I have retirement questions, he is the first one I reach out to. It is amazing in such a short amount of time, how much he really understands our plans and how he has already assisted me in a few matters. If anyone in the future is looking for a new retirement document provider, please recommend and introduce them to Lowell.
Senior VP, Finance and Administration
Sarasota Manatee Airport Authority