New Guidance Fills in the Blanks for Roth Employer Contributions

Clarification of the rules for electing Roth employer contributions should spur more plan sponsors and vendors to consider allowing them.

A Benefits Wish List for 2024

Here are some developments that could change things for the better in 2024.

Fiduciary Advice, SECURE 2.0, Qualified Retirement PlanCarol BuckmannDecember 17, 2023ERISA, secure2.0, fiduciaryduty

Hidden Advisor Fees: Ninth Circuit and DOL Let the Sunshine In

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.

The Long Arm of ERISA Falls Short-How A Foreign Affiliate Escaped Liability

All members of a controlled group are liable under ERISA for plan termination and withdrawal liability, but in practice, it isn’t easy to get jurisdiction over foreign members.

The Roth Catch-up Requirement is Delayed, Making Time to Clarify the Rules

In this Op-ed for Bloomberg Tax, Carol Buckmann comments on the implications of this welcome delay in this new requirement applying to high earners.

Qualified Retirement Plan, SECURE 2.0, SECURE ActCarol BuckmannSeptember 5, 2023

Process Prevails in ERISA Excessive Fee Bench Trial

Most ERISA lawsuits don’t get to trial, but a recent decision in a 401(k) fiduciary breach lawsuit shows that fiduciaries who follow prudent processes can win.

Fiduciary Advice, Qualified Retirement PlanJeff MamorskyAugust 23, 2023erisa, litigation, fiduciaryduty

Join Us on 9/7 for an Insights Webinar on Fiduciary Liability Insurance

We invite you to join us on 9/7 for answers to your questions about fiduciary liability insurance.

Protecting 401(k) Participants from Cybertheft Should be a Priority-What Sponsors and the Government Can Do

No federal law guarantees restoration of a participant’s account if it is stolen by a cyberthief. ERISA and state law might provide remedies if a participant can establish breach of fiduciary duty or negligence, but plan sponsors and the government can do more to deal with this problem.

Fiduciary Advice, Qualified Retirement PlanCarol BuckmannJuly 16, 2023cybersecurity, erisa

IRS Notice 2023-43 Continues the Expansion of EPCRS

SECURE 2.0 expands the ability of plan sponsors to self-correct inadvertent plan errors without making a formal IRS filing. In Notice 2023-43, the IRS provides guidance to follow until a revised revenue procedure can be issued.

SECURE 2.0, Qualified Retirement PlanTerry MooreJuly 7, 2023EPCRS, secure2.0, selfcorrection

Should Congress Micromanage 401(k) Investments?

Two recently introduced bills would restrict or discourage classes of retirement plan investments. Is this the right policy?

Are All ESG Investments Imprudent? A Plaintiff Suing American Airlines Says Yes

ESG investments are a minefield in the current political environment. A new lawsuit filed against American Airlines and its fiduciaries tries to target all ESG investments as imprudent.

The New Roth Catch-up Requirement Needs Clarification-What Are Plan Sponsors to Do?

A short provision of SECURE 2.0 raises a long list of compliance questions. Here are some of them.

Law 360 Article: Fiduciaries Must Revisit ERISA Origins

In this article published May 24, 2023 by Law360, ERISA attorney Jeff Mamorsky explores the history of ERISA and why the underpinnings of ERISA are more important than ever.

Fiduciary Advice, Qualified Retirement PlanJeff MamorskyMay 24, 2023

Cohen & Buckmann Expands; Adds Mamorsky and Moore to ERISA Team

Cohen & Buckmann’s ERISA and tax qualified plan offerings are expanded with the addition of prominent duo from Greenberg Traurig, Jeff Mamorsky and Terry Moore.

Firm News, Fiduciary Advice, Qualified Retirement PlanSandra CohenApril 29, 2023