Here’s a list of changes we’d like to see in 2025.
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Cohen & Buckmann founding partner Carol I. Buckmann and partner Gretchen Harders will provide guidance to fiduciaries who manage ERISA-covered plans and their legal advisers in an Oct. 8 webinar for the American Bar Association’s Joint Committee on Employee Benefits.
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Lawsuits brought on behalf of anti-ESG activists have been dismissed, demonstrating that politically-motivated lawsuits may face obstacles.
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The end of Chevron deference will make it difficult to tell which regulations are binding.
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Prepare for even more uncertainty about the status of ERISA regulations.
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Happy 50th Birthday, ERISA!. When ERISA was enactedin 1974, it provided new federal protections for plan participants. These protections have increased over the years, and spouses have gained greater rights. There have also been changes not foreseen by ERISA’s drafters such as the decline of single employer defined benefit plans. Though much progress has been made, this is also an appropriate time to consider where ERISA has fallen short.
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A series of lawsuits have challenged how plan sponsors have used plan forfeitures to reduce employer contributions. In this interview, Carol Buckmann discusses the issues
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401(k) sponsors routinely use forfeitures to reduce employer contributions. New lawsuits say this is an ERISA violation. Who will win?.
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Investment Advisers who advise IRAs and pensions have increased risk of being a “fiduciary” under this final rule.
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Plan fiduciaries need to secure in-house data and investigate their outside vendors’ procedures.
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Carol Buckmann was quoted in this Bloomberg Law article analyzing the Texas federal district court decision in Spence v. American Airlines, Inc. and American Airlines Employee Benefits Committee refusing to dismiss the case. She discussed defects in the case that would most likely have resulted in dismissal of this politically-motivated lawsuit in another court.
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Plaintiffs want a retrial to change a jury’s determination that there were no damages from a fiduciary breach involving Yale’s retirement plan. The DOL supports them. Which standard applies?.
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Here are some developments that could change things for the better in 2024.
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The fiduciary responsibility to review the reasonableness of plan compensation extends to indirect compensation. Failure to do so can result in a non-exempt prohibited transaction.
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