Involving SSI early in the settlement process saves time and money. Even before the settlement agreement is finalized, our experienced team can provide a framework for how to collect, organize and manage data to ensure maximum ease of use moving forward into the settlement administration phase. We can review draft settlement agreements as well as assist in drafting settlement administration documents, such as legal notice and claim forms. SSI is also available to assist in establishing a streamlined claim review process for cases in which a more complicated, in-depth claim form is required.
Employment settlements impose unique tax obligations on the parties and on class members not common in other types of class action settlements. These obligations can have an impact on both class member proceeds and defendant employer tax reporting requirements. State-level legislation in reaction to changes in the economy can often result in unforeseen tax consequences for Qualified Settlement Funds in the form of higher tax rates and supplemental taxes. SSI’s experts have over 20 years’ experience navigating this complicated process and have established relationships with taxing agencies at both the state and federal level. Our experts can provide advice as to the proper structure of tax obligations in your settlement agreement so that the process is as efficient and streamlined as possible, while ensuring all potential tax requirements are recognized and addressed.