Kary Payne is an associate in the Chicago office of Latham & Watkins.
Kary is a seasoned advisor in the realm of employee benefits, offering comprehensive counsel to both privately and publicly held corporations. Her experience spans the design, implementation, and administration of 401(k) and profit-sharing plans. Kary also advises on fiduciary and plan investment issues, including those related to employer stock holdings within 401(k) plans.
In her practice, Kary routinely represents clients in matters with key regulatory bodies such as the Internal Revenue Service (IRS), the US Department of Labor, and the Pension Benefit Guaranty Corporation. She routinely assists clients with maintaining the tax-qualified status of retirement plans by assisting with internal compliance reviews and managing voluntary correction filings for fiduciary violations and administrative errors.
Kary’s proficiency extends to health and welfare plan design, administration, and compliance. She is well-versed in the Employee Retirement Income Security Act of 1974 (ERISA), the Affordable Care Act (ACA), the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), and other pertinent federal and state regulations. Her guidance encompasses a wide array of benefit programs, including flexible benefit plans, wellness programs, family building programs, health reimbursement accounts (HRAs), and employee assistance programs (EAPs).
Kary has extensive experience advising on employee benefits integration, plan design and fiduciary governance in connection with mergers, acquisitions and divestitures. She partners with clients to negotiate substantial service agreements with major retirement and welfare plan vendors, ensuring compliance and optimal plan performance.
Kary’s commitment to practical, solutions-oriented counsel makes her an invaluable partner to clients navigating the intricate landscape of employee benefits law.
Kary joined the firm in 2010 after graduating from Northwestern University School of Law, where she served as an Associate Editor for the Northwestern University Law Review. Prior to attending law school, Kary taught economics at Miami University and Xavier University.
Kary is admitted to practice before the United States Tax Court and the United States District Courts for the Northern and Southern Districts of Illinois.