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Barry Klein chairs Blank Rome’s Employee Benefits and Executive Compensation practice. He advises employers, including sole-proprietorships, partnerships, multinational companies, major hospital centers and universities with respect to their employee benefits and executive compensation arrangements, including:
- advising employers with respect to the employee benefits aspects of mergers and acquisitions;
- drafting qualified and non-qualified retirement plans (including 401(k) plans and ESOPs) and stock option plans;
- advising employers with respect to administrative procedures and investment policy statements; and
- representing employers in connection with IRS audits and Department of Labor proceedings.
Mr. Klein has significant experience advising financial services clients with respect to their obligations under ERISA. He counsels these clients on the fiduciary responsibility that arises when they manage ERISA plan assets, as well as opportunities for avoiding ERISA coverage. He has helped clients set up funds that comply with ERISA’s venture capital operating company and real estate operating company exemptions, and has helped clients set up hedge funds that are subject to or exempt from ERISA.
Mr. Klein’s career has provided him with a unique perspective on employee benefits and the employee benefits industry. He began his career at the National Office of the Internal Revenue Service in Washington, D.C. and he was in-house employee benefits counsel at the Prudential Insurance Company of America and then at The Vanguard Group, Inc. Prudential and Vanguard are among the nation’s largest managers of retirement plan assets. Mr. Klein advised these companies with respect to the full range of services and products that they provide to employee benefit plans and was instrumental in the design and marketing of new products.
Mr. Klein is recognized by Chambers USA as a leader in employee benefits and compensation law. Chambers notes he is "esteemed for his 'strong business sense' and 'level-headed approach' " and calls him an "'extremely knowledgeable' employee benefits attorney, especially in the area of executive compensation."
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Mr. Klein is an adjunct professor of law in the Graduate Tax Program at Temple University James E. Beasley School of Law, where he designed and teaches courses on the taxation of executive compensation and the fiduciary responsibility and investment management aspects of employee benefit plans. He also serves on the Pension Committee of the Philadelphia Bar Association and was an adjunct professor at the Philadelphia Institute for Paralegal Training.