Bio

Althea Day advises plan sponsors of all types—from tax-exempt organizations and governmental employers to Fortune 100 companies—regarding employee benefits and developing practical solutions to complex issues. Her experience includes the design, implementation, governance, operation, and regulatory compliance of qualified and nonqualified retirement plans, executive compensation arrangements, and health and welfare plans. She also counsels clients, both multiemployer funds and contributing employers, on complex multiemployer plan issues. Co-leader of the firm’s Multiemployer Plans Task Force, Althea advises boards of trustees on multiemployer plan governance, administration, and compliance issues. She also advises contributing employers regarding their participation in multiemployer health and pension plans, and provides corporate transaction support on multiemployer plan issues, including potential withdrawal liability. Specific to qualified retirement plans, Althea’s work with clients includes both defined contribution and defined benefit plans, including cash balance plans. She has represented numerous clients in matters involving the Internal Revenue Service (IRS), US Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PBGC)—including issues related to IRS and DOL voluntary correction programs, IRS private letter rulings, and PBGC issues involving ERISA Section 4062(e). Althea works with clients to design and implement nonqualified deferred compensation, executive compensation arrangements, and incentive programs, focusing on Internal Revenue Code Section 409A and other requirements affecting employee benefit plans. She also advises on health and welfare plan design and compliance. Althea has been ranked in Chambers USA since 2015. Prior to joining Morgan Lewis, Althea handled matters related to employee plans and exempt organizations for the IRS. She previously had an active benefits practice at a Washington, DC law firm, and worked at the national office of a large employee benefits consulting and accounting firm.