We share expert insights on executive compensation, retirement plans, fiduciary duties, and more.
Stay updated on the latest legal trends and practical advice for employers and executives.
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.
Read MoreA series of lawsuits have challenged how plan sponsors have used plan forfeitures to reduce employer contributions. In this interview, Carol Buckmann discusses the issues
Read MoreCritics have called the 401(k) plan a “failed experiment” and maintain that it does not provide retirement security to low and middle income employees. Does the 401(k) plan really deserve a failing grade? Recent developments suggest otherwise.
Read More401(k) sponsors routinely use forfeitures to reduce employer contributions. New lawsuits say this is an ERISA violation. Who will win?.
Read MoreThe Department of Labor found many violations in retirement plan audits last year, likely because plan sponsors were not regularly self-auditing plan operations.
Read MoreInvestment Advisers who advise IRAs and pensions have increased risk of being a “fiduciary” under this final rule.
Read MorePlan fiduciaries need to secure in-house data and investigate their outside vendors’ procedures.
Read MoreCarol 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.
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