Groom Law Group, Chartered
Mike Prame is seasoned trial attorney and counselor, with over two decades of experience representing clients in matters related to retirement and healthcare plans.
His clientele is largely based in three primary sectors. First, he counsels businesses with underfunded defined benefit pension plans, particularly those plans under scrutiny by the PBGC. Second, Mike advises actuarial, benefit/investment consulting and recordkeeping firms that provide services in connection with retirement and health plans. Finally, he advocates for large and midsized businesses who have been targeted in DOL investigations or lawsuits regarding their executive deferred compensation plans or the investments in their retirement plans.
Mike often leverages his accounting background and experience with actuarial principles to help his clients with defined benefit plans work through the legal and financial issues either being raised by the PBGC or by parties in the context of M&A activity. This work often includes identifying proactive measures the client can take to address potential areas of concern. In other matters involving the PBGC, it can involve a financial settlement or litigation.
If litigation does ensue, Michael is first and foremost a trial lawyer. He teams with in-house counsel to distill and communicate what can be challenging legal issues in a way that is effective for senior leadership teams, and he leverages decades of experience to develop cost-effective defense strategies. Michael has a track record of trying cases to successful verdicts.
Michael served as Groom’s Managing Principal from 2016 through 2021, and is a former member of Groom’s Executive Committee and former chair of the Litigation practice group.