The Department of Labor (DOL) finally amended the Voluntary Fiduciary Compliance Program (VFCP), effective March 17, 2025, to allow employers and other plan fiduciaries to self-correct some fiduciary breaches. Notably, the violations eligible for self-correction include late deposit of employee
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Presumed Guilty? The Cornell Decision Could Help Rein in Questionable ERISA Litigation
When is a plan service agreement open to challenge? A debate before the U.S. Supreme Court in January involved a lawsuit against plan fiduciaries at Cornell University raising that very issue. The decision being reviewed is Cunningham v. Cornell University,…
"Disloyal, Not Imprudent": Is the American Airlines Decision Consistent with ERISA?
A Texas federal district court has decided that American Airlines breached its fiduciary duty of loyalty, but not its fiduciary duty of prudence, in allowing its $26 billion 401(k) plan to be influenced by environmental, social and governance (“ESG”) strategies…
Carol Buckmann Talks Private Equity in 401(k)s and Trump Administration Impact with InvestmentNews
As private equity firms eye 401(k) plans, industry lobbying efforts are expected to intensify under the Trump administration. This push raises complex ERISA issues that fiduciaries must navigate, Carol Buckmann explained in her conversation with InvestmentNews editor Emile Hallez.Key takeaways…
Why Your Employee Benefit Plan Needs a Cybersecurity Policy

Participant data and plan assets are a tempting target for internet thieves. The Department of Labor says that plan fiduciaries have an obligation to mitigate cybersecurity risks, but they may be unsure how to fulfill their responsibilities or unfamiliar with…
A Benefits Wish List for 2025
2024 is ending with a swing back to a Republican Administration, a plan to cut back on the federal bureaucracy, and a focus on shoring up Social Security. The scheduled expiration of the 2017 Tax Cuts and Jobs Act at…
The SEC is Serious about the Whistleblower Protection Rule. Don't Blow It!
The SEC recently fined GQG Partners, a Florida based investment adviser, $500,000 for language in their agreements with employees, candidates and a former employee that did not provide Whistleblower protection. These employment agreements agreements included confidentiality language that restricted the…
Sandra Cohen Named to Top 50: 2024 Women New York-Metro Super Lawyers
Cohen & Buckmann P.C. Co-Founder and Managing Partner Sandra Cohen has been named to the Top 50: 2024 Women New York-Metro Super Lawyers list.The list recognizes attorneys with the top 50 highest scores from the selection process for all women…
The ABCs of RMDs: A Guide to Required Minimum Distributions
Everyone has heard about required minimum distributions (RMDs) for retirement plans and IRAs, but few of us really know how they work. RMDs are the government’s way of limiting tax deferred savings and recouping some taxes.RMDs generally were established to…
Sandra Cohen and Carol Buckmann Named to 2025 Lawdragon 500 Leading Corporate Employment Lawyers Guide
Lawdragon has once again named Cohen & Buckmann P.C.’s managing and founding partner Sandra W. Cohen and founding partner Carol I. Buckmann to its 2025 Lawdragon 500 Leading Corporate Employment Lawyers guide. The list recognizes the nation’s top advisors on…