Todd Castleton is Of Counsel in the Employee Benefits and Executive Compensation group at DLA Piper, LLC (US). Todd’s practice currently focuses on the design, administration, and legal compliance of tax-qualified retirement plans and nonqualified deferred compensation arrangements. Todd partners with clients to find legal solutions to meet business objectives and to manage fiduciary obligations to reduce risk. He regularly advises on benefits issues in mergers and acquisition and benefits litigation strategy. He has experience with all types of retirement plans, including individually designed plans, preapproved prototype plans, multiple employer plans, collective bargained multiemployer plans, PEO sponsored plans, and pooled employer plans.
Bar admissionsDistrict of ColumbiaNew YorkVirginia
Restructured Retirement Benefits for Big Four Accounting Firm
Advised a Big Four accounting firm concerning the restructuring of their entire retirement benefits program, including converting the accrual formula in its defined benefit plans from final average pay to cash balance, revising the defined contribution benefit for newly-hired employees, creating a spin-off plan to house benefits for inactive employees, and coordinating the qualified benefits with supplemental nonqualified programs. Provided seven amended and restated coordinated plan documents and updated their accompanying summary plan descriptions.
Employee Benefits in Mergers and Acquisitions
Provided advice in scores of mergers and acquisition transactions concerning employee benefits issues, including initial due diligence, negotiation of deal terms, controlled group issues, and implementation, administration, consolidation, and termination of benefit programs following the transaction close.
Bankruptcy Claim on Behalf of Airline’s Pension Plan
Provided advice and filed bankruptcy claim on behalf of fiduciary committee of major airline’s pension plan seeking payment of pension contributions.
Governmental Plan Audits and Correction Programs
Represented companies facing audits of or making corrections to the administration of their qualified retirement plans by the U.S. Department of Labor and Internal Revenue Service and negotiated resolution of those audits.
Advised plan sponsors and fiduciaries concerning both pre-litigation and post-complaint strategies to minimize fiduciary liability related to investment and administrative fees paid by qualified retirement plans as well as employer stock held for investment in those plans.
Plan Services Providers
Regularly negotiates contract terms with service providers to provide services to employee benefit plans, and has experience advising providers to employee benefit plans concerning those services.
B.S., Speech Communication and Philosophy, University of Utah
J.D., George Mason University School of Law
LL.M., Certificate in Employee Benefits Law, Georgetown University Law Center
Band 4, District of Columbia Employee Benefits & Executive Compensation (2022-2023)
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