We share expert insights on executive compensation, retirement plans, fiduciary duties, and more.
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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.
Read MoreSECURE 2.0 allows non-highly compensated employees to contribute to emergency savings accounts. The IRS and the Department of Labor have now issued guidance clarifying the rules.
Read MorePlaintiffs 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?.
Read MoreMost new plans will be required to have auto-enrollment and auto-escalation beginning in 2025. The “grab bag” guidance in Notice 2024-02 addresses how this requirement will be applied to mergers and spinoffs, but leaves other basic questions unanswered.
Read MoreClarification of the rules for electing Roth employer contributions should spur more plan sponsors and vendors to consider allowing them.
Read MoreHere are some developments that could change things for the better in 2024.
Read MoreThe 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.
Read MoreAll 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.
Read MoreIn this Op-ed for Bloomberg Tax, Carol Buckmann comments on the implications of this welcome delay in this new requirement applying to high earners.
Read MoreMost 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.
Read MoreWe invite you to join us on 9/7 for answers to your questions about fiduciary liability insurance.
Read MoreNo 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.
Read MoreSECURE 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.
Read MoreTwo recently introduced bills would restrict or discourage classes of retirement plan investments. Is this the right policy?
Read MoreESG 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.
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