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Timothy Verrall is Of Counsel with the Northern Virginia office of Morrison & Foerster, where he advises a broad range of clients in the tax, labor, and securities aspects of employee benefit programs. He advises clients on a wide variety of benefit plan issues arising under ERISA, the Internal Revenue Code, and the Federal securities laws including:

• The design, implementation, and administration of pension, cash balance, profit-sharing, Section 401(k), and employee stock-ownership plans, Section 403(b) tax-sheltered annuities, Section 457 deferred compensation plans, flexible benefit or "cafeteria" plans, voluntary employee beneficiary associations (“VEBAs”), other employee welfare plans such as medical, dental, disability, life insurance and retiree health plans, and non-qualified deferred compensation plans including supplemental executive retirement plans (“SERPs”) and excess benefit plans.
• The resolution of plan compliance issues through both the IRS’s and Department of Labor’s voluntary correction programs.
• Fiduciary and prohibited transaction rules under ERISA.

Mr. Verrall drafts and reviews plan documents and amendments, summary plan descriptions and other plan materials and works with the IRS to obtain approval of new tax-qualified plans as well as amendments to existing tax-qualified plans. He also regularly represents clients in connection with government investigations and audits of benefit plans. In addition, Mr. Verrall has substantial experience dealing with issues arising under COBRA and HIPAA, including the HIPAA privacy, security, and transaction standards rules.

Mr. Verrall frequently deals with the employee benefit and executive compensation issues that arise with corporate transactions. He performs due diligence on employee benefit matters, and reviews employee benefit provisions in transaction documents. Mr. Verrall also counsels sellers as to the most appropriate disposition of their existing benefit plans, often involving plan mergers and spin-offs, and he works with buyers in transitioning employees of the acquired entity into new employee benefit programs.

Mr. Verrall received his B.A. magna cum laude from Mississippi State University and his J.D. cum laude from Tulane Law School. Prior to joining Morrison & Foerster, he was a member of the employee benefits group of McAfee & Taft in Oklahoma City. Mr. Verrall began his legal career as an attorney-advisor in the U.S. Department of Labor in Washington, D.C.

Mr. Verrall is admitted to practice in Virginia, California, and Oklahoma.

Mr. Verrall is a past member of the board of directors for the Orange County Chapter of the Western Pension & Benefits Conference and served as the Chapter’s President during 2006. He serves on the editorial board for the California Compensation & Benefits Advisor. He is also a member of the Society of Human Resource Managers, Professionals in Human Resource Administration and the Tax Sections of the American Bar Association, and the California State Bar Association. He is a frequent speaker on employee benefits topics for industry organizations such as the California Society of Certified Public Accountants, Western Pension & Benefits Conference, SHRM, Professionals in Human Resources Association, Employers’ Resource Institute, California Employers’ Advisory Council, and the Los Angeles County Bar Association. Mr. Verrall is also the author or co-author of a variety of publications dealing with employee benefits issues including “IRS Issues Final Section 409A Regulations,” May 2007 (available at www.mofo.com ), “All Good Things Must Come to an End – Section 409A Reporting Requirements are Now Effective,” December 2006 (available at www.mofo.com ), “Immediate Action Required IRS Offers Limited Relief for Backdated Stock Options,” February 2007 (available at www.mofo.com),“Upsetting the Apple Cart: New Deferred Compensation Rules Endanger Employment Agreements and Severance Plans,” December 2005 (available at www.mofo.com); “IRS Notice 2006-4 Provides Interim Relief from Section 409A Valuation Requirements for Stock Options,” December 2005 (available at www.mofo.com); “SEC Issues Guidance on Implementation of New Accounting Rules for Stock Options,” April 2005 (available at mofo.com); and “Employee Benefit Plans in Mergers and Acquisitions, ” 25 Okla. City Univ. L. Rev. 435 (2000).