Barry K. Downey

Maryland

Smith & Downey, P.A.
320 E. Towsontown Blvd
Suite 1 East
Baltimore, MD 21286

Tel: 410-321-9000

Email: bdowney@smithdowney.com
Web: www.smithdowney.com

Professional Biography

Barry Downey’s practice deals with all aspects of employee benefits and executive compensation law.

He has extensive experience in designing, drafting, and providing advice concerning all types of employee benefit and executive compensation programs, including tax-qualified defined benefit and defined contribution retirement plans, non-tax-qualified deferred compensation plans, and all types of welfare benefit programs.

Barry has considerable experience negotiating with the IRS and DOL on behalf of clients undergoing audits by and inquiries from these agencies. He also has considerable experience in the representation of government entity, church, and church-related clients in connection with all aspects of their ERISA-exempt tax-qualified and non-tax-qualified retirement programs and welfare benefit programs.

In addition, Barry has particular experience and expertise in the area of advising clients regarding the technical compliance of all types of employee benefit and executive compensation programs. His work in this area includes representation of employee benefit plan service providers (e.g., consulting firms, financial institutions, and investment advisers) in connection with their services to their clients and with the development and implementation of prototype retirement plan products.

Barry is a frequent speaker and panelist throughout the U.S. and internationally at educational programs in the employee benefits and executive compensation areas, and regularly provides training to plan fiduciaries, executive compensation service providers, and to employers that sponsor multiple and complex employee benefit and executive compensation programs.

  • National Association of Plan Advisors (NAPA) curriculum for the Nonqualified Plan Consultant (NQPCTM) Credential certification program, co-author.
  • Nonqualified Deferred Compensation Answer Book, published by Wolters Kluwer Legal & Regulatory U.S. (Copyright © 2024 CCH Incorporated), co-author.
  • “Final 409A Regs Clarify Deferred Compensation Rules For Nonqualified Plans,” CCH Pension Plan Guide, Extra Issue, June 27, 2007; Issue No. 1758, Report No. 1689.
  • “Governmental Deferred Compensation Plans,” National Association of Public Pension Attorneys Newsletter, August 1998.

Smith & Downey has extensive experience in counseling a wide variety of employers nationwide on employee benefits and executive compensation issues. The firm also is counsel to a number of employee benefits and executive compensation consulting and administration firms, and occasionally counsels particular executive employees.

Smith & Downey regularly advises clients concerning employee benefits and executive compensation issues arising in connection with mergers and acquisitions and other corporate transactions.

The firm has extensive experience in the drafting and operation of pension, profit sharing, 401(k), employee stock ownership, 403(b) and non-tax-qualified deferred compensation plans. The firm also has extensive experience in obtaining governmental approval for the initial qualification of new tax-qualified retirement plans, and for the termination of tax-qualified retirement plans.

The firm provides a full range of legal services regarding the compensation of executives of taxable, tax-exempt, governmental, and church-related entities, including advice to tax-exempt entities on the IRS intermediate sanctions rules and Form 990 requirements.

Smith & Downey is one of the nation’s leading law firms concentrating in employee benefits, executive compensation, and human resources law. The firm’s attorneys are among the most respected in their fields, continually sought out not only as experienced and highly respected counsel but also as speakers, law professors, and expert witnesses. The firm’s attorneys also write several of the leading books and periodicals in their fields.

The firm uses aggressive overhead controls and organizational efficiencies to price its services at levels considerably below those of its peer firms and, despite its leadership position in its industry, typically even below attorneys who do not possess the firm’s level of focused skills and experience.

Smith and Downey’s clients range from professional and entrepreneurial firms with just a few employees to international conglomerates with hundreds of thousands of employees, and are found in all areas of the country. The firm represents publicly traded, privately held, tax-exempt, church related and governmental employers, as well as service firms — such as financial institutions, third-party administrators, benefits consultants, insurance professionals and accounting firms — that provide employers with employee benefits and executive compensation services.

“Barry Downey advises clients regarding the implementation, operation and auditing of employee benefits plans and executive compensation schemes. He has notable expertise in advising government and church entities on ERISA exemptions and tax-exempt programs.”
Chambers & Partners