INSIGHTS


 
Texas Court Won’t Dismiss ESG Challenge-What Does This Mean for 401(k) Plans?

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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The Do’s and Don’ts for Setting Up Emergency Savings Accounts

SECURE 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.

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Crossing the Delaware River: Are Non-Competes in New York Executive Contracts and Equity Awards Enforceable?* New Laws and Court Decisions Muddy the Waters

When a New York employer tries to enforce a Non-Compete agreement under Delaware law, beware!  The waters on the Delaware river just got rougher!

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Could Have, or Would Have, that is the ERISA Question

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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Webinar: Retirement Plan Options for Small Businesses

The webinar will discuss state retirement savings plan mandates, employer-sponsored plan options that can provide larger benefits than state programs, and tax incentives available to small businesses adopting new plans.

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Sandra Cohen
Mandatory Auto-Enrollment is Coming for Some Plans-What to Know

Most 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.

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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.

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Cohen & Buckmann Expands – Welcomes Brett Good

Cohen & Buckmann, P.C. is pleased to announce that Brett Good has joined Cohen & Buckmann as Senior Counsel expanding the Firm’s experienced legal team in the area of Executive Compensation.

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Sandra Cohen
FinCEN WANTS YOU! (TO REPORT)

Most small companies (and the individuals that own and control them) will need to report under the Corporate Transparency Act (CTA), effective January 1, 2024, but the reports aren't due until January 1, 2025.  See Lauri London's summary (and handy chart) of CTA requirements and definitions that you need to know.  

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Lauri London
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.

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Spotlight on Irene Bassock

Read our interview with Irene and learn about her ability to see both sides of a dispute and provide nuanced legal advice and negotiating strategies makes her a trusted business advisor and coach who advocates for her clients and offers them pragmatic solutions.

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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.

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