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Lynne Shore Wakefield

Partner
Charlotte
+1.704.331.7578
Fax +1.704.353.3278

Primary Practice

Secondary Practices

Education

  • J.D., University of North Carolina at Chapel Hill Law School, 2001, (with high honors; North Carolina Journal of International Law and Commercial Regulation, Member; Order of the Coif)
  • B.A., Davidson College, 1998, (magna cum laude; Phi Beta Kappa)

Admissions

  • Bar of North Carolina
  • Biography Overview
  • Additional Background
  • Representative Work
Ms. Wakefield is a partner in the Charlotte office and focuses her practice on employee benefits. She regularly advises clients on the design, implementation and administration of tax-qualified retirement plans such as 401(k), profit sharing, traditional pension and cash balance plans. She also assists clients with issues relating to welfare benefit plans, including ERISA, COBRA and HIPAA compliance; negotiation of administrative services agreements; the design, implementation and administration of group health plans, cafeteria plans, health savings accounts (HSAs) and health reimbursement arrangements (HRAs); and other aspects of consumer-driven healthcare.

Ms. Wakefield provides clients with advice in other benefits areas as well, including nonqualified deferred compensation plans; equity plans; compliance with reporting and disclosure requirements; correction of qualified plan defects and related submissions under the Internal Revenue Service and Department of Labor voluntary correction programs; and mergers and acquisitions. She also regularly assists clients with ERISA litigation.

Professional Background

Partner with K&L Gates since 2009 and associate from 2005 to 2009. Prior to joining K&L Gates, Ms. Wakefield was an employee benefits associate in a regional law firm.

Speaking Engagements

  • “2012 Readiness for Employee Benefits: 2012 Health Care Reform Compliance Requirements,” CLE Presentation, October 2011 (Dallas, TX and Charlotte, NC)
  • “Health Care Reform, What’s Next and What Can You Do?,” Winston-Salem Chamber of Commerce, October 2010 (Winston-Salem, NC)
  • “Benefits Best Practices for 2010,” CLE Presentation, Association of Corporate Counsel, April 2010 (Charlotte, NC)
  • Redesigned a 401(k) plan to reflect changes in benefit structures, including drafting of new plan documentation and preparation of participant communications.
  • Assisted client with request for proposals relating to all welfare benefit plans, negotiated vendor contracts and prepared new plan documents and summary plan descriptions for all welfare benefit plans.
  • Identified and assisted in correction of plan administration errors and prepared related application under the Internal Revenue Service voluntary correction program for tax-qualified plans (Employee Plans Compliance Resolution System).
  • Directed the correction of 401(k) plan contribution and filing errors under the Department of Labor's Voluntary Fiduciary Correction and Delinquent Filer Voluntary Correction Programs.
  • Assisted client with HIPAA privacy and security compliance, including development of HIPAA privacy and security policies and procedures, plan amendments and negotiation of business associate agreements with third party administrators and other service providers.
  • Assisted in defense of participants’ long-term disability, life and accidental death and dismemberment claims.
  • Counseled client regarding the applicability of the deferred compensation requirements under the American Jobs Creation Act of 2004 (Code Section 409A) as to various retention agreements, employment agreements, equity plans and severance arrangements.
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