Jim Patterson

portrait Jim Patterson

Practice Areas

  • Employee Ben­e­fits
  • Deferred compensation
  • Sec­tion 409A com­pli­ance issues
  • Credit union employee benefits regulations


  • Juris Doc­tor, J. Reuben Clark Law School, May, 1995
  • Bach­e­lor of Arts, magna cum laude, Eco­nom­ics and Ital­ian, Brigham Young Uni­ver­sity, 1992

Professional Profile

Jim is a partner with Sherman & Patterson, a law firm focusing in the areas of tax, nonqualified deferred compensation (e.g., 409A and 457(f)) and employee benefits. Most of his deferred compensation clients are credit unions and healthcare systems. Jim has worked closely with state credit union regulators in the 47 states that have state credit union charters, as well as with regulators at the National Credit Union Administration.

Jim has drafted numerous split dollar plans, SERPs, and other nonqualified deferred compensation arrangements and welfare benefits plans. After Congress passed 409A and the IRS published 409A regulations, Jim focused significant time in updating deferred compensation arrangements to comply with those new rules. Jim’s practice also includes drafting employment agreements and severance plans that integrate nonqualified deferred compensation concepts with other issues relating to an individual’s employment.

Bar Admis­sion

Min­nesota, May 1996

Pro­fes­sional Asso­ci­a­tions And Memberships

Board Chair, J. Reuben Clark Law Soci­ety, Min­nesota Chapter

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