Craig Wheaton

Craig’s practice is focused on helping clients comply with the laws governing retirement, health care and executive compensation, including related fiduciary responsibilities. He has regularly represented clients in litigation matters involving ERISA, fiduciary requirements, retirement plans and related investments, executive compensation and severance in state and federal courts throughout the nation. He has successfully provided representation for dozens of governmental investigations, audits and enforcement actions, including those initiated Internal Revenue Service, the Department of Labor, the Pension Benefit Guaranty Corporation and state regulators.

Previously a partner with a national Am Law 100 law firm, Craig has significant experience representing clients ranging from executives to some of the largest employers in North Carolina and throughout the United States related to retirement, healthcare and fiduciary compliance, the correction of compliance concerns and the resolution of governmental investigations and litigation. Craig is one of four attorneys in North Carolina peer selected as a Fellow of the American College of Employee Benefits Counsel for his contributions to the field of employee benefits. He also has served as an ERISA expert.

For many employers, the structure and operation of competitive and compliant compensation arrangements, including retirement and health care plans, has become increasingly challenging. New laws are being adopted, regulatory interpretations of some existing laws have changed, and the enforcement efforts of the IRS and other regulators are better funded and promoted. The growth of the gig economy presents significant challenges for the ability of certain employers to comply with retirement and health care laws. Craig has the experience to help employers successfully navigate the current regulatory environment having provided benefits representation for hundreds of retirement and health care plans. Drawing on this experience, he strives to make benefit laws understandable so that clients ranging from large national and international companies to closely held companies, tax-exempt and governmental entities can remain competitive and compliant.

Craig’s representative experience includes:

• Litigation related to ERISA, retirement and health care, financial products and investments, fiduciary responsibilities, contingent workers and employment classification.
• Governmental investigations, audits and compliance matters relating to executive compensation, retirement and welfare plans, fiduciary responsibilities, worker status and taxation and financial products.
• Establishing and operating compliant retirement and welfare plans, deferred compensation, equity plans and the resolution of related compliance concerns.
• Representation of executives on change in control, retention and severance.
• Advising fiduciaries, including officers and directors, as to the process and procedure for satisfying their responsibilities and minimizing related risks.
• Conversions of traditional pension plans to cash balance, defined benefit plan de-risking strategies, fiduciary strategies and governmental investigations.
• Transactional representation addressing retirement and welfare plans, executive compensation and fiduciary responsibilities related to a change in control or IPO.
• Establishing and operating compliant health care plans and related compliance obligations of the Affordable Care Act, ERISA and tax laws, including reporting and disclosure obligations.
• Employment tax audits and investigations, including strategies related to worker status as independent contractor or employee.
• Executive compensation and retirement strategies for partnerships, limited liability companies and sole-proprietorships.
• ESOP transactions and fiduciary compliance, including leveraged ESOP strategies and other methods of transitioning ownership of closely held entities on a tax favored basis.
• Liability protection strategies for employers, executives and directors, including indemnification and insurance.