Thomas P. Stafford
Partner
Office: Indianapolis
tstafford@kdlegal.com
p: 317-238-6286
f: 317-636-1507
Tom Stafford dedicates his practice to advising clients on a broad range of issues relative to the maintenance and compliance of qualified retirement plans, executive compensation and health and welfare plans. Mr. Stafford concentrates primarily on the design and implementation of ESOPs and related ESOP Fiduciary issues. Mr. Stafford also advises clients with respect to a variety of health and welfare plan issues arising under the Employee Retirement Income Security Act of 1974 ("ERISA"), and provides guidance to group health plan sponsors with respect to HIPAA privacy, security and nondiscrimination requirements, COBRA continuation coverage requirements and mandates established under the Affordable Care Act.
Representative Experience
- Represented ESOP client in $120M sale to private equity portfolio company
- Represented Indianapolis wholesale distributor in $6M ESOP transaction
- Represented ESOP trustee in $20M sale of 100%-owned ESOP company
- Represented Indianapolis life sciences firm in $10 million ESOP transaction
- Represented Tennessee electrical contractor in $20 million ESOP transaction
- Represented ESOP trustee in 45% acquisition of Florida electrical contracting company
- Represented Georgia software company in $15 million 100% ESOP transaction
- Represented ESOP trustee in $40 million acquisition of Colorado grocery chain
- Represented ESOP trustee in $25 million acquisition of Colorado pump manufacturer
- Assisted in design and execution of Wisconsin manufacturer $4 million dollar second-stage ESOP transaction
- Correction of operational, plan document, and non-amender failures under IRS' EPCRS program
Awards & Recognitions
- Indiana Super Lawyer Rising Stars, 2018
- Indiana State Bar Association Taxation Section Award
Seminars & Presentations
- “Ask the Experts,” ESOP Association; Great Lakes Annual Conference – September 2020
- “Getting Old – Plan Design Opportunities for Mature ESOPs,” ESOP Association; Indiana Chapter Annual Conference – March 2020
- "Valuation Due Diligence Process for Trustee Financial Advisor," ESOP Association Las Vegas Conference & Trade Show - November 2019
- "Workshop for Internal Trustees," NCEO Employee Ownership Conference (Atlanta) - April 2017
- "Managing Repurchase Obligation Through Plan Design," ESOP Association Las Vegas Conference & Trade Show - November 2016
- "Our First Board Meeting as an ESOP Company - Leadership and Governance Issues," ESOP Association Midwest Conference (Milwaukee) - September 2016
- "ESOP Plan Design," Tri-State Annual ESOP Conference (Louisville) - August 2016
- "Millennials and the ESOP Value Proposition," Ohio Employee Ownership Center Annual Conference - April 2016
- "Our First Board Meeting as an ESOP-Owned Company," NCEO Employee Ownership Conference (Minneapolis), April 2016
- "Non-Leveraged ESOP Transaction Options," ESOP Association; Indiana Chapter - Annual Conference, March 2016
- "Demystification of ESOPs," Exit Planning Institute, Central Indiana Chapter - January 2016
- "ESOP Distributions - Timing, Forms and Reporting," ESOP Association Las Vegas Conference & Trade Show - November 2015
- "ESOP Companies - Acquisition and Sale Considerations," ESOP Association New South Chapter - Fall Conference - October 2015
- "Traps For the Unwary," S Corporation ESOP Seminar (NCEO) - October 2015
- "Oh No! Now What? Surviving a DOL Investigation," ESOP Association New South Chapter - Spring Workshop Meeting, March 2015
- "ESOP and 401(k) Plan Integration," ESOP Association Las Vegas Conference & Trade Show, November 2014
- “The ESOP Administration Cycle: Accumulating Account Balances,” ESOP Association Annual Conference, May 2014
- "The Affordable Care Act: What Employers Need to Know in Indiana," Lorman Education Services, April 2014
- "Status of Health Care Reform Today,” 2013 ESOP South Conference, September 2013
- “Employee Communications and Notices under the ACA; Health Insurance Exchanges”, 2013 Benefits in Brief, Krieg DeVault LLP, September 2013
- "The Affordable Care Act: What Employers Need to Know", National Business Institute, September 2013
- “Structuring and Financing a Feasible ESOP,” Tri-State ESOP Conference; Louisville, Kentucky, August 2013
- "The Administrative Cycle - Part II, How Benefits are Reported and Distributed," The ESOP Association Annual Conference, May 2013
- "ABB v. Tussey - An Expensive Lesson in ERISA Fiduciary Liability," Indiana Benefits Conference, February 2013
Professional Associations
- Board of Directors - Indiana Canine Assistance Network (ICAN)
- The ESOP Association - Legislative & Regulatory Advisory Committee, Member
- The ESOP Association - Administration Advisory Committee, Past Member
- Ohio Employee Ownership Council, Member
- National Center for Employee Ownership, Member
- Indianapolis Bar Association, Member
- American Bar Association - Taxation Section, Member
- Indiana Benefits Conference, Board of Directors
Education
- J.D., Indiana University Robert H. McKinney School of Law, Indianapolis, Indiana, 2009
- A.B. in History and Religion, Wabash College, Crawfordsville, Indiana, 1997
Bar & Court Admissions
- Indiana (2009)
Practices
Industries
Golf
Skiing
Indiana University Basketball
Business
Is Your Business Ready? Preparing for and Complying with the Corporate Transparency Act
August 31, 2023
Employee Benefits
IRS Extends Effective Date for Roth Treatment of Catch-Up Contributions to 2026
August 30, 2023
Employee Benefits
Secure Act 2.0 Allows Employers to Make Matching Contributions to Retirement Plans Based on Employees’ Student Loan Payments
August 17, 2023
Firm News and Events
William W. Merten Joins Krieg DeVault’s ESOP and Employee Benefits & Executive Compensation Practices
September 22, 2022
Employee Benefits
IRS Announces Launch of Pre-Examination Compliance Program for Qualified Retirement Plans
June 28, 2022
Employee Benefits
COVID-19 and ESOP Distribution Policies: Dealing with Down Times in an ESOP Company
May 18, 2020
Employee Benefits
The CARES Act: Changes Posed to Employer-Sponsored Retirement Plans
March 31, 2020
Krieg DeVault Podcast Series
How Employee Benefits Law Impacts Every Workplace with Catherine “Katy” Stowers (Podcast)
May 30, 2024
Employee Benefits
Plan Sponsors Take Note: New Litigation Brings Attention to Potential Fiduciary Risk for Group Health Plan Sponsors
March 26, 2024
Firm News and Events
Krieg DeVault Announces 10 Attorneys as 2023 Indiana Super Lawyers; 9 as 2023 Indiana Rising Stars
February 28, 2023
Employee Benefits
Fiduciary Alert: New ERISA Group Health Plan Service Provider Fee Disclosures Require Plan Sponsor Attention
January 4, 2023
Employee Benefits
Guidance on New RMD Rules in IRS Notice 2022-53; Final Regulations Forthcoming
November 16, 2022
Employee Benefits
Revenue Procedure 2021-30 Brings Welcome Changes to IRS Correction Program
September 8, 2021
Employee Benefits
U.S. Department of Labor Issues Cybersecurity Guidance for Retirement Plans
July 13, 2021
Employee Benefits
DOL Issues Temporary Safe Harbor for Missing Participants in Terminating Defined Contributions Plans
July 6, 2021
Employee Benefits
DOL Finalizes Rule Providing Alternative Safe Harbor Method for Electronic Disclosure by ERISA Retirement Plans
May 28, 2020
Employee Benefits
IRS Guidance Increases FSA Carryover Limit, Clarifies Reimbursement of Individual Health Coverage Premiums
May 14, 2020
Employee Benefits
IRS Provides Flexibility for Cafeteria Plans to Permit Mid-Year Election Changes, Extend FSA and DCAP Claims Periods
May 13, 2020
Employee Benefits
DOL and IRS Pandemic Relief for Group Health Plans and Retirement Plans
May 12, 2020
Employee Benefits
Employer Tax-Free, Deductible Disaster Relief Benefits for Employees
April 20, 2020
Employee Benefits
IRS to Issue Guidance for High Deductible Health Plans in Light of COVID-19
March 10, 2020
Employee Benefits
The Setting Every Community Up for Retirement Enhancement (SECURE) Act
February 26, 2020
Employee Benefits
Mandatory Arbitration, Class Action & Exhaustion Provisions: Cause to Amend Claims Procedures?
February 24, 2020
Firm News and Events
Corben A. Lee Joins Krieg DeVault's Business, Acquisitions, and Securities and Employee Benefits and Executive Compensation Practice Groups
January 27, 2019
Firm News and Events
10 Krieg DeVault Attorneys Named to 2019 Best Lawyers in America Listing
August 14, 2018
Thought Leadership
Recent Guidance for the Mental Health Parity Act: Are You in Compliance?
June 18, 2018
Thought Leadership
IRS Reduces 2018 Limits for Health Savings Accounts and Adoption Credits
March 11, 2018
Tom Stafford dedicates his practice to advising clients on a broad range of issues relative to the maintenance and compliance of qualified retirement plans, executive compensation and health and welfare plans. Mr. Stafford concentrates primarily on the design and implementation of ESOPs and related ESOP Fiduciary issues. Mr. Stafford also advises clients with respect to a variety of health and welfare plan issues arising under the Employee Retirement Income Security Act of 1974 ("ERISA"), and provides guidance to group health plan sponsors with respect to HIPAA privacy, security and nondiscrimination requirements, COBRA continuation coverage requirements and mandates established under the Affordable Care Act.
Representative Experience
- Represented ESOP client in $120M sale to private equity portfolio company
- Represented Indianapolis wholesale distributor in $6M ESOP transaction
- Represented ESOP trustee in $20M sale of 100%-owned ESOP company
- Represented Indianapolis life sciences firm in $10 million ESOP transaction
- Represented Tennessee electrical contractor in $20 million ESOP transaction
- Represented ESOP trustee in 45% acquisition of Florida electrical contracting company
- Represented Georgia software company in $15 million 100% ESOP transaction
- Represented ESOP trustee in $40 million acquisition of Colorado grocery chain
- Represented ESOP trustee in $25 million acquisition of Colorado pump manufacturer
- Assisted in design and execution of Wisconsin manufacturer $4 million dollar second-stage ESOP transaction
- Correction of operational, plan document, and non-amender failures under IRS' EPCRS program
Awards & Recognitions
- Indiana Super Lawyer Rising Stars, 2018
- Indiana State Bar Association Taxation Section Award
Seminars & Presentations
- “Ask the Experts,” ESOP Association; Great Lakes Annual Conference – September 2020
- “Getting Old – Plan Design Opportunities for Mature ESOPs,” ESOP Association; Indiana Chapter Annual Conference – March 2020
- "Valuation Due Diligence Process for Trustee Financial Advisor," ESOP Association Las Vegas Conference & Trade Show - November 2019
- "Workshop for Internal Trustees," NCEO Employee Ownership Conference (Atlanta) - April 2017
- "Managing Repurchase Obligation Through Plan Design," ESOP Association Las Vegas Conference & Trade Show - November 2016
- "Our First Board Meeting as an ESOP Company - Leadership and Governance Issues," ESOP Association Midwest Conference (Milwaukee) - September 2016
- "ESOP Plan Design," Tri-State Annual ESOP Conference (Louisville) - August 2016
- "Millennials and the ESOP Value Proposition," Ohio Employee Ownership Center Annual Conference - April 2016
- "Our First Board Meeting as an ESOP-Owned Company," NCEO Employee Ownership Conference (Minneapolis), April 2016
- "Non-Leveraged ESOP Transaction Options," ESOP Association; Indiana Chapter - Annual Conference, March 2016
- "Demystification of ESOPs," Exit Planning Institute, Central Indiana Chapter - January 2016
- "ESOP Distributions - Timing, Forms and Reporting," ESOP Association Las Vegas Conference & Trade Show - November 2015
- "ESOP Companies - Acquisition and Sale Considerations," ESOP Association New South Chapter - Fall Conference - October 2015
- "Traps For the Unwary," S Corporation ESOP Seminar (NCEO) - October 2015
- "Oh No! Now What? Surviving a DOL Investigation," ESOP Association New South Chapter - Spring Workshop Meeting, March 2015
- "ESOP and 401(k) Plan Integration," ESOP Association Las Vegas Conference & Trade Show, November 2014
- “The ESOP Administration Cycle: Accumulating Account Balances,” ESOP Association Annual Conference, May 2014
- "The Affordable Care Act: What Employers Need to Know in Indiana," Lorman Education Services, April 2014
- "Status of Health Care Reform Today,” 2013 ESOP South Conference, September 2013
- “Employee Communications and Notices under the ACA; Health Insurance Exchanges”, 2013 Benefits in Brief, Krieg DeVault LLP, September 2013
- "The Affordable Care Act: What Employers Need to Know", National Business Institute, September 2013
- “Structuring and Financing a Feasible ESOP,” Tri-State ESOP Conference; Louisville, Kentucky, August 2013
- "The Administrative Cycle - Part II, How Benefits are Reported and Distributed," The ESOP Association Annual Conference, May 2013
- "ABB v. Tussey - An Expensive Lesson in ERISA Fiduciary Liability," Indiana Benefits Conference, February 2013
Professional Associations
- Board of Directors - Indiana Canine Assistance Network (ICAN)
- The ESOP Association - Legislative & Regulatory Advisory Committee, Member
- The ESOP Association - Administration Advisory Committee, Past Member
- Ohio Employee Ownership Council, Member
- National Center for Employee Ownership, Member
- Indianapolis Bar Association, Member
- American Bar Association - Taxation Section, Member
- Indiana Benefits Conference, Board of Directors
Education
- J.D., Indiana University Robert H. McKinney School of Law, Indianapolis, Indiana, 2009
- A.B. in History and Religion, Wabash College, Crawfordsville, Indiana, 1997
Bar & Court Admissions
- Indiana (2009)
Practices
Industries
Insights
Business
Is Your Business Ready? Preparing for and Complying with the Corporate Transparency Act
August 31, 2023
Employee Benefits
IRS Extends Effective Date for Roth Treatment of Catch-Up Contributions to 2026
August 30, 2023
Employee Benefits
Secure Act 2.0 Allows Employers to Make Matching Contributions to Retirement Plans Based on Employees’ Student Loan Payments
August 17, 2023
Firm News and Events
William W. Merten Joins Krieg DeVault’s ESOP and Employee Benefits & Executive Compensation Practices
September 22, 2022
Employee Benefits
IRS Announces Launch of Pre-Examination Compliance Program for Qualified Retirement Plans
June 28, 2022
Employee Benefits
COVID-19 and ESOP Distribution Policies: Dealing with Down Times in an ESOP Company
May 18, 2020
Employee Benefits
The CARES Act: Changes Posed to Employer-Sponsored Retirement Plans
March 31, 2020
Krieg DeVault Podcast Series
How Employee Benefits Law Impacts Every Workplace with Catherine “Katy” Stowers (Podcast)
May 30, 2024
Employee Benefits
Plan Sponsors Take Note: New Litigation Brings Attention to Potential Fiduciary Risk for Group Health Plan Sponsors
March 26, 2024
Firm News and Events
Krieg DeVault Announces 10 Attorneys as 2023 Indiana Super Lawyers; 9 as 2023 Indiana Rising Stars
February 28, 2023
Employee Benefits
Fiduciary Alert: New ERISA Group Health Plan Service Provider Fee Disclosures Require Plan Sponsor Attention
January 4, 2023
Employee Benefits
Guidance on New RMD Rules in IRS Notice 2022-53; Final Regulations Forthcoming
November 16, 2022
Employee Benefits
Revenue Procedure 2021-30 Brings Welcome Changes to IRS Correction Program
September 8, 2021
Employee Benefits
U.S. Department of Labor Issues Cybersecurity Guidance for Retirement Plans
July 13, 2021
Employee Benefits
DOL Issues Temporary Safe Harbor for Missing Participants in Terminating Defined Contributions Plans
July 6, 2021
Employee Benefits
DOL Finalizes Rule Providing Alternative Safe Harbor Method for Electronic Disclosure by ERISA Retirement Plans
May 28, 2020
Employee Benefits
IRS Guidance Increases FSA Carryover Limit, Clarifies Reimbursement of Individual Health Coverage Premiums
May 14, 2020
Employee Benefits
IRS Provides Flexibility for Cafeteria Plans to Permit Mid-Year Election Changes, Extend FSA and DCAP Claims Periods
May 13, 2020
Employee Benefits
DOL and IRS Pandemic Relief for Group Health Plans and Retirement Plans
May 12, 2020
Employee Benefits
Employer Tax-Free, Deductible Disaster Relief Benefits for Employees
April 20, 2020
Employee Benefits
IRS to Issue Guidance for High Deductible Health Plans in Light of COVID-19
March 10, 2020
Employee Benefits
The Setting Every Community Up for Retirement Enhancement (SECURE) Act
February 26, 2020
Employee Benefits
Mandatory Arbitration, Class Action & Exhaustion Provisions: Cause to Amend Claims Procedures?
February 24, 2020
Firm News and Events
Corben A. Lee Joins Krieg DeVault's Business, Acquisitions, and Securities and Employee Benefits and Executive Compensation Practice Groups
January 27, 2019
Firm News and Events
10 Krieg DeVault Attorneys Named to 2019 Best Lawyers in America Listing
August 14, 2018
Thought Leadership
Recent Guidance for the Mental Health Parity Act: Are You in Compliance?
June 18, 2018
Thought Leadership
IRS Reduces 2018 Limits for Health Savings Accounts and Adoption Credits
March 11, 2018