Steven Day
USA Guide 2023
Band 3 : Employee Benefits & Executive Compensation
Email address
[email protected]Contact number
216-622-8458Share profile
Band 3
About
Provided by Steven Day
Practice Areas
Employee Benefits and Executive Compensation
Capital Markets and Public Reporting
Tax Law
Compliance/Regulatory Services
Corporate and Finance
ESOP Formation and Operation
Government Relations and Legislation
Health Care Regulation
Federal Government Relations and Policy
Investment Management
Private Equity
Career
Steve Day is a Partner in the Employee Benefits and Executive Compensation practice group; he advises public, private, governmental and nonprofit clients on tax, securities, ERISA and state law issues related to designing and operating executive compensation arrangements and employee benefit plans.
Steve regularly advises clients on:
- General design and compliance issues for qualified retirement plans, non-qualified deferred compensation arrangements and health plans
- Fiduciary responsibilities for administering benefit plans and investing plan assets
- Employee benefits issues that arise in connection with mergers and acquisitions
- Executive compensation arrangements and related requirements under the securities laws
- Governmental and church retirement and health plans
Steve is an active member of the American Bar Association. He is also a member of the Advisory Board of the American Benefits Council and the National Association of Public Pension Attorneys.
Steve serves as a director of the Cleveland Metropolitan Bar Foundation and is a member of the Cleveland Metropolitan Bar Association. Steve has served as Chair of its Volunteer Lawyers for the Arts Committee, through which he provides pro bono legal services to members of the local arts community and frequently presents to artists and students on legal issues affecting artists. Steve is a regular lecturer at the Cleveland Institute of Art and the Cleveland Institute of Music, where he teaches classes on business and professionalism in the arts and music industry.
Steve is on the Board of Directors of the Swedish American Chamber of Commerce in Ohio.
Professional Memberships
Cleveland Metropolitan Bar Foundation, Board Member
American Bar Association, Member
American Benefits Council, Member
National Association of Public Pension Attorneys, Member
Cleveland Metropolitan Bar Association; Volunteer Lawyers for the Arts Committee Chair; Reach Out Committee for Non-Profits Member
Swedish American Chamber of Commerce in Ohio, Board Member
Expert in these Jurisdictions
Ohio
Work Highlights
Retirement and Health Plans
- Tax-qualified defined benefit and defined contribution plans
- Medical plans, Section 125 "cafeteria" plans, wrap welfare plans
- Compliance with Patient Protection and Affordable Care Act, HIPAA and COBRA
- Governmental retirement and health plans
Executive Compensation
- Equity and phantom equity compensation plans for public and private companies
- Annual bonus and long-term cash incentive arrangements for public, private and non-profit organizations
- Employment, severance, change-in-control and sale bonus agreements
- Non-qualified deferred compensation plans
- Corporate governance and shareholder disclosure requirements under federal securities laws, stock exchange rules and shareholder guidelines
Investment Management and Fiduciary Responsibilities
- Plan investments in hedge funds, private equity funds, collective investment trusts, separate accounts and pooled arrangements
- Service agreements with outside fiduciary advisors
- Compliance with Department of Labor’s new fiduciary rule and related exemptions
- Fiduciary structure and governance for plan sponsors
- Investment policy statements
Experience
Advising large energy and utilities company on entering into various investment arrangements for its multi-billion dollar defined benefit pension plan, including investments in hedge funds, private equity funds, collective investment trusts and separate accounts.
Representing a global food and beverage manufacturing company with review and negotiating contracts with investment managers for individualized funds under its multi-billion dollar defined contribution plan.
Advising several clients, including national banks, broker-dealers and Registered Investment Advisor firms, on implementing the Department of Labor’s new fiduciary rule and related exemptions.
Advising several publicly held clients on designing and obtaining shareholder approval of equity compensation plans.
Advising large governmental retirement program on negotiating arrangement with pharmaceutical benefits program.
Education
Case Western Reserve University School of Law
J.D., magna cum laude, Order of the Coif, Executive Editor of Case Law Review, Law-Medicine Fellowship
2007
University of Illinois at Urbana-Champagne
M.A.
2003
University of Illinois at Urbana-Champaign
B.S.
1999
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Key Sectors
Provided by Calfee, Halter & Griswold LLP
Financial Services
Education
Energy and Utilities
Government and Public Sector
Industrials, Engineering and Manufacturing