Cohen & Buckmann

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Do private equity funds engage in a trade or business?  If so, and if those trades and businesses are part of a controlled group as defined in ERISA, they could be liable for unfunded pension liabilities of their portfolio companies.  These issues have been litigated in four separate decisions by federal courts in the First Circuit. The courts were ruling on a multiemployer plan’s attempt to collect withdrawal liability from two Sun Capital Partners funds.…
I previously wrote about a lawsuit filed against Abbott and recordkeeper Alight by a participant whose account was reduced by $245,000 when a hacker assumed her identity and requested distributions. (Bartnett v. Abbott Laboratories, 1:20-cv-02127)  According to the complaint, the hacker was assisted by an Alight employee when the account password couldn’t be changed online. Many were hoping that this lawsuit would clarify the law in this area, and particularly the responsibilities of plan sponsors…
Cohen & Buckmann is pleased to invite you to join this FREE Seven Seminar Lunch & Learn Series: Buy, Sell, or Hold: A Guide for Selling or Buying a Business.  Even if you are not yet ready to make a move this information-packed series is a roadmap to selling your business. Each hour-long session begins promptly at noon.  MARK YOUR CALENDAR TO JOIN US (link to register is below): Session 1: IS NOW THE RIGHT TIME TO SELL? Wednesday,…
Target-date funds, once considered a conservative approach to retirement planning, are now under the microscope by both plan sponsors and participants. The COVID-19 pandemic and the March market decline sparked a massive selloff of assets particularly in 2020 funds, whose participants are at or close to retirement, and seeking safer alternatives. The selloffs have shed new light on the risks associated with this investment strategy. The increased scrutiny is due in part to the dominance…
If you are a 401(k) or 403(b) plan fiduciary and you have the impression that ERISA litigation has increased in 2020, you are correct. An analysis by Bloomberg Law says that there have already been five times more lawsuits filed in 2020 than in 2019.  Most of these were filed after March, and Bloomberg attributes this increase at least partially to COVID-19.  Since participants have more time to look into and worry about their plans,…
Elizabeth Drigotas will be participating in the Practicing Law Institute program, “Hot Issues in Executive Compensation 2020,” as a panelist of the session, “Executive Compensation: Restructurings/Investments/Takeover Preparation.” The session will be held on Wednesday, September 9, 2020 at 10:45 a.m. and will cover: Executive compensation considerations in bankruptcy/special issues Emerging from restructuring Takeover preparedness 280G in asset sales and investments As the economy absorbs the impact of the COVID-19 pandemic and the legislature, SEC, and…
Boutique law firm Cohen & Buckmann is pleased to announce that its founding partners Sandra Cohen and Carol Buckmann have been named to the 2021 Best Lawyers in America in the practice of Employee Benefits (ERISA) Law. The firm also ranks in U.S. News – Best Lawyers Best Law Firms in the same practice. Sandra and Carol, who first worked together at Sullivan & Cromwell, are two of the mostly highly regarded attorneys in their…