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Tim is a seasoned attorney with experience providing ERISA advice and related services to a variety of plan sponsors and employee benefit plans, including corporate, nonprofit, multiemployer and governmental plans providing retirement, health, disability, dental and other welfare benefits. In the field of executive compensation, Tim has assisted both employers and employees with equity and incentive compensation, nonqualified deferred compensation, Section 409A questions, and executive employment and severance agreements. Among other industries, Tim has represented clients in the financial, construction, medical, fashion, talent acquisition, real estate and legal industries.
Tim chairs the Fairfield County Bar Association Employment Law Committee.
- Negotiated enhanced severance benefits, including extended medical coverage, for executive and professional employees after termination.
- Advised and assisted 401(k) plan trustees in connection with plan terminations.
- Prepared and successfully obtained numerous IRS tax qualification letters and Voluntary Correction Program (VCP) compliance statements for employers’ qualified retirement plans.
- Advised administrators of group health plans on questions and issues relating to the Patient Protection and Affordable Care Act (ACA), COBRA, HIPAA and related federal regulation of health plans.
- Represented plan sponsors in numerous U.S. Department of Labor audits/investigations of employee benefit plans for ERISA and ACA compliance.
- Reviewed and advised corporate clients and executive employees on proposed domestic and international M&A transactions with respect to employee benefits and executive compensation matters.
- Pursued and successfully obtained monetary settlement on behalf of employer enforcing non-competition and non-solicitation agreements.
- Super Lawyers, New York Metro Rising Stars Selection, 2018-2020
- Timothy S. Klimpl Selected as a 2020 New York Metro Rising Star
- Carmody Torrance Sandak & Hennessey LLP Welcomes Timothy S. Klimpl As Counsel
- Beware the Ides— March 15 Deadline Approaches for Payment of Short-Term Deferred Compensation
- COVID-19 Vaccines Go to Work
- Substantial Relief Provided to Employees with Unused Health Flexible Spending Accounts or Dependent Care Accounts Benefits under Recent Stimulus Bill
- Employee Benefits Cost-of-Living Adjustments for 2021
- Remote or Not, Electronic Delivery of Retirement Plan Documents is Now Easier Than Ever
- Succession Planning
- Equity and Incentive Compensation
- Mental Health in the Workplace: The Current State of the Law and What’s on the Horizon
- Fundamentals for Business Succession Planning
- 2020 Annual Labor and Employment Seminar
- Business Succession Planning—Never a Better Time
- New DOL Electronic Disclosure Rules for ERISA-Covered Retirement Plans: Critical Next Steps and Legal Ramifications
- CARES Act: Employee Benefits Provisions, DOL Guidance, Relief for Sponsors of Certain Plans and Pensions
- COVID-19 Impact on Law Firms, Employees and Small Businesses: Where Do We Stand Now??
- Fairfield County Bar Association
- Connecticut Bar Association
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