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Overview
Darcy recently concluded a five-year tenure as Managing Partner at Tonkon Torp, where she has practiced business law since 1998. Darcy’s practice focuses on general business and corporate law.
She works with clients in the insurance and financial services industry on a wide variety of matters, including regulatory compliance, privacy laws, contract drafting, and general corporate matters.
Darcy's practice also emphasizes executive compensation, ERISA, and employee benefits counsel. Darcy has extensive experience in a wide range of employee benefit plans and executive compensation arrangements. She regularly designs and drafts incentive compensation plans, equity-based compensation plans, nonqualified deferred compensation plans, and executive agreements. She provides ongoing legal advice and counsel about the establishment, maintenance, administration, and termination of clients' employee benefit plans.
Among the issues she regularly addresses are concerns and strategies involving tax qualified and non-qualified employee benefit plans, equity based plans, health and welfare plans, and fringe benefit plans.
Darcy advises investment advisors who work with employee benefit plan clients regarding ERISA compliance in a complex and changing regulatory environment. She also advises private investment funds regarding investment of assets held by employee benefit plans.
When compensation and benefits matters are triggered during mergers, acquisitions, divestitures, and other major business transactions, Darcy guides clients in protecting their interests and ensuring the integrity of transactions.
She works with clients in the insurance and financial services industry on a wide variety of matters, including regulatory compliance, privacy laws, contract drafting, and general corporate matters.
Darcy's practice also emphasizes executive compensation, ERISA, and employee benefits counsel. Darcy has extensive experience in a wide range of employee benefit plans and executive compensation arrangements. She regularly designs and drafts incentive compensation plans, equity-based compensation plans, nonqualified deferred compensation plans, and executive agreements. She provides ongoing legal advice and counsel about the establishment, maintenance, administration, and termination of clients' employee benefit plans.
Among the issues she regularly addresses are concerns and strategies involving tax qualified and non-qualified employee benefit plans, equity based plans, health and welfare plans, and fringe benefit plans.
Darcy advises investment advisors who work with employee benefit plan clients regarding ERISA compliance in a complex and changing regulatory environment. She also advises private investment funds regarding investment of assets held by employee benefit plans.
When compensation and benefits matters are triggered during mergers, acquisitions, divestitures, and other major business transactions, Darcy guides clients in protecting their interests and ensuring the integrity of transactions.
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Get To Know
Darcy's practice combines general business and corporate law and expertise in executive compensation, ERISA and employee benefits. She is a member of the firm’s Managing Board and leads the firm’s Diversity Task Force in initiatives to promote a diverse workforce and inclusive work environment. Darcy is president of the YWCA of Greater Portland board, serves on the Multnomah Bar Assn. board and is active in the Campaign for Equal Justice. She began her career in nonprofit organizations, representing seniors, low-income and disabled individuals.
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Featured Work
Diverse Team Aids Greenbrier in Joint Venture
Tonkon Torp acted as Oregon corporate counsel for its long-term client The Greenbrier Companies, Inc. in finalizing a 50/50 joint venture with Watco Companies, L.L.C. The venture combines the two companies’ railcar repair, refurbishment and maintenance businesses into a new organization, GBW Railcar Services, LLC.
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Community Involvement & Activities
Proud Ground
2009–Present, Pro Bono Volunteer
Oregon Business & Industry (formerly OBA)
2017–Present, Board of Directors
Oregon Business Association (OBA)
2010–2017, Board of Directors
Campaign for Equal Justice
Board Member
Advisory Board Member
Statewide Co-Chair
YWCA of Greater Portland
2012–2014, President
2011–2014, Board of Directors
Multnomah Bar Association
2010–2013, Board of Directors
Oregon Law Foundation
2006–2009, Board Member
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Professional Memberships
American Bar Association
Multnomah Bar Association
National Association of Stock Plan Professionals
Oregon Women Lawyers
Western Pension and Benefits Conference
Multnomah Bar Association
National Association of Stock Plan Professionals
Oregon Women Lawyers
Western Pension and Benefits Conference
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Awards & Recognition
The Best Lawyers in America
2009-2021, Employee Benefits (ERISA) Law
Portland Business Journal
2019, Women of Influence
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Recent News
8.20.2020
Best Lawyers in America® Includes 49 Tonkon Torp Attorneys on 2021 List
Forty-nine Tonkon Torp lawyers representing 36 practice areas have been selected for inclusion in The Best Lawyers in America® 2021. A majority of attorneys have been named to the peer-review list in past years, and most have been recognized for more…
7.7.2020
Kurt Ruttum Elected Managing Partner of Tonkon Torp
Tonkon Torp partner Kurt Ruttum has been elected Managing Partner of the firm effective July 1, 2020. Ruttum succeeds Darcy Norville, who held the role since 2015.
8.15.2019
2020 List for Best Lawyers in America® Includes 48 Tonkon Torp Attorneys
Forty-eight Tonkon Torp lawyers representing 39 practice areas have been selected for inclusion in The Best Lawyers in America® 2020. A majority of attorneys have been named to the list in past years, and most have been recognized for more than five…
3.11.2019
Darcy Norville Recognized as One of Portland’s Women of Influence
Tonkon Torp Managing Partner Darcy Norville has been honored by the Portland Business Journal as one of its 2019 Women of Influence. The highly regarded award recognizes women who are business and community leaders in the greater Portland area.
2.22.2019
Tonkon Torp Sponsors 28th Annual CEJ Awards Luncheon
Tonkon Torp was a table sponsor at the 28th Annual Campaign for Equal Justice (CEJ) Awards Luncheon on February 21. Darcy Norville led Tonkon's involvement with the event and attended along with nine others from Tonkon Torp.
8.17.2018
Best Lawyers in America® Names 51 Tonkon Torp Attorneys to 2019 List
Fifty-one Tonkon Torp lawyers representing 41 practice areas have been selected for inclusion in The Best Lawyers in America® 2019. Nearly all attorneys have been named to the list in past years, and have been recognized for more than five years
3.1.2018
Tonkon Torp Sponsors 27th Annual CEJ Awards Luncheon
Tonkon Torp was a table sponsor at the 27th Annual Campaign for Equal Justice (CEJ) Awards Luncheon on February 26. Darcy Norville led Tonkon's involvement with the event and attended along with nine other Tonkon Torp attorneys. The CEJ seeks to…
8.16.2017
Best Lawyers in America® Names 49 Tonkon Torp Attorneys to 2018 List
Forty-nine Tonkon Torp lawyers representing 39 practice areas have been selected for inclusion in The Best Lawyers in America® 2018. Nearly all attorneys have been named to the list in past years, and have been recognized for more than five years…
6.12.2017
Darcy Norville Joins Board of Directors of the Campaign for Equal Justice
Tonkon Torp Managing Partner Darcy Norville has been elected to the Board of Directors of the Campaign for Equal Justice (CEJ). The nonprofit organization raises funds to ensure Oregon’s most vulnerable citizens have access to legal aid programs…
3.24.2017
Darcy Norville Shares Her Path to Managing Partner
Darcy Norville, managing partner of Tonkon Torp, was a featured panelist at the March 14 Women in the Law Distinguished Speaker Program at Lewis & Clark Law School.
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Recent Alerts
9.18.2017
The Fleischer Case: IRS Challenges Ahead for Insurance Producers?
A 2017 Tax Court decision, Fleischer v. Commissioner, may call into question a tax planning strategy commonly used by commissioned brokers and salespersons in many industries. This Alert looks at the impact of the decision on insurance brokers and…
9.14.2016
DOL Major Changes to Fiduciary Investment Adviser Definition and Prohibited Transaction Exemptions - Part 3
On April 6, 2016, the U.S. Department of Labor (the "DOL") issued final regulations expanding the definition of who is a fiduciary and what constitutes fiduciary advice to ERISA-covered employee benefit plans, as well as a new fiduciary adviser…
6.1.2016
DOL Major Changes to Fiduciary Investment Adviser Definition and Prohibited Transaction Exemptions - Part 2
On April 6, 2016, the U.S. Department of Labor (the "DOL") issued final regulations expanding the definition of who is a fiduciary and what constitutes fiduciary advice to ERISA-covered employee benefit plans and individual retirement accounts (IRAs…
5.9.2016
Major Changes to DOL Fiduciary Investment Adviser Definition and Prohibited Transaction Exemptions
On April 6, 2016, the U.S. Department of Labor (the "DOL") issued final regulations redefining fiduciary investment advice for ERISA-covered employee benefit plans and individual retirement accounts ("IRAs"). The final rule significantly expands the…
11.1.2013
IRS Modifies "Use-it-or Lose-it" Rule for Health Flexible Spending Accounts
On October 31, 2013 the IRS issued Notice 2013-71 modifying the "use-it-or-lose-it" rule for health flexible spending accounts ("FSAs") under §125 cafeteria plans. These modified rules are welcome relief for employers and employees, and can apply as…
7.3.2013
ACA Employer Mandate and Reporting Requirements Delayed
On July 2, 2013, President Obama announced that implementation of the employer mandate and health care coverage reporting provisions of the Affordable Care Act will be delayed until January 1, 2015.
11.19.2012
What Employers Can Learn from Petraeus's Downfall
We have all witnessed the instantaneous fall from grace of General David Petraeus, which snowballed from anonymous harassing emails sent to Tampa socialite Jill Kelley to implicating Petraeus's biographer Paula Broadwell to revealing the racy details…
8.28.2012
Sick Times in Seattle: A New Ordinance Provides Generous Leave for Seattle Employees
Beginning on September 1, 2012, a new law in Seattle will require certain employers to offer paid sick and safe time ("PSST") to employees who work within Seattle city limits. The Seattle Paid Sick and Safe Time Ordinance applies to all companies…
6.20.2012
IRS Issues Guidance on $2,500 Health Flexible Spending Account Limit
The IRS recently issued helpful guidance in Notice 2012-40 on the $2,500 annual limitation on salary reduction contributions to health flexible spending accounts ("FSAs"), effective beginning in 2013.
6.20.2012
JOBS Act Directs SEC to Lift Ban on General Solicitation and General Advertising in Rule 506 Offerings
The recently enacted Jumpstart Our Business Startups Act (JOBS Act) directs the U.S. Securities and Exchange Commission (SEC) to adopt rules that remove the existing prohibition against general advertising and general solicitation in private…
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Publications & Presentations
"The Path to the Top," Women in the Law Distinguished Speaker Program, Lewis & Clark Law School, March 2017
"Department of Labor Fiduciary Rule Overview," Greater Portland Compliance Association, September 2016
"Health Care Reform," Cascade Employers Association, March 2013