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Elizabeth Drigotas, senior counsel at Cohen & Buckmann PC, will be speaking at a Worldwide Employee Benefits Network Event, “COVID-19 and the New Workplace: How Safety Practices, Work Arrangements and Employee Benefits Have Changed,” on September 17, 2020, at 12:30 p.m. EDT. The event will be available via Webex. The three-member panel will discuss how COVID-19 is changing the workplace, with a focus on significant issues, including: New safety standards and liability concerns The “new…
Carol Buckmann, ERISA lawyer and co-founding partner of Cohen & Buckmann, PC will be a panelist speaking at the Stafford live webinar, “Private Equity Compliance With ERISA: Fiduciary Duties in Managing ERISA Plan Assets,” on Wednesday, September 16, 2020, at 1:00 p.m. EDT. The panel of ERISA attorneys will examine and discuss: The impact recent court cases have had on portfolio company pension withdrawal liability The rules that determine when a private equity fund is…
Carol Buckmann, ERISA lawyer and co-founding partner of Cohen & Buckmann, P.C. will present at the PLANSPONSOR National Annual Conference on September 21–25, 2020, held online. Carol will join a panel of attorneys on the first day of the conference at 12:30 p.m. EDT for the session, “Legislative and Regulatory Update Part I,” to discuss regulations and legislation issued and passed as a result of the COVID-19 pandemic relating to retirement plan administration. Throughout much…
ERISA attorney Carol Buckmann will be participating in the PLANSPONSOR webinar, “Distribution Options for Employees,” on August 20, 2020, at 2:00 p.m. EDT. Carol will be joined by a panel of editors from PLANSPONSOR magazine and other leading industry professionals to discuss issues related to retirement plan distribution options for employees, including: Changes made to hardship withdrawal and required minimum distribution (RMD) rules under the Setting Every Community Up for Retirement Enhancement (SECURE) Act and…
Can a foreign owner of a U.S. business be liable for a subsidiary’s unpaid pension liabilities? A recent decision by the Court of Appeals for the 10th Circuit, GCIU Employees’ Retirement Fund v. Coleridge Fine Arts/Jelinki Ltd., (No. 19-3161, 4/6/2020) indicates that collecting from an entity located outside the United States may be an uphill battle. ERISA’s Rules. Title IV of ERISA provides that both multiemployer plan withdrawal liability and PBGC’s claims when underfunded single…
Many investment advisers and broker dealers recently filed the now-required Form Client Relationship Summary (CRS) with the SEC and began delivering the form to their clients and prospects.  The Form CRS is required by the SEC as part of new conduct rules and interpretations for broker dealers and investment advisers set forth in Reg BI, which requires investment advisers and broker dealers to distribute the Form CRS to their “retail investors.”  The form provides information…
Who’s Who Legal has recognized Sandra Cohen as a thought leader in the Labour, Employment & Benefits practice. The Thought Leaders guides include individuals who score highly in Who’s Who Legal’s research. Only a fraction of practitioners selected for inclusion in a guide are selected as Thought Leaders. Sandra is one of only 59 U.S. attorneys who has earned this honor in her practice area. According to Who’s Who Legal: [Thought leaders] are worthy of…
Carol Buckmann’s latest COVID-19 Compliance Corner columns for PLANSPONSOR focus on the impact of the CARES Act and COVID-19 on deferred compensation plans and defined benefit plans. Recent guidance hasn’t focused much on these plans, but they also have compliance issues. https://www.plansponsor.com/covid-19-compliance-corner-impact-defined-benefit-plans/ https://www.plansponsor.com/covid-19-compliance-corner-impact-nonqualified-deferred-compensation-plans/…
            The purpose of this article is to focus on restricted stock units (RSUs) as “deferred compensation” for purposes of social security taxes (FICA).  Whether the compensation is deferred compensation is particularly important for amounts that vest at the end of a calendar year but are paid shortly after.  The IRS has recently commented on this topic in the form of a generic legal advice memorandum (GLAM), dated May 18, 2020, which covered the timing of…
ERISA was enacted before the computer age, so it has no specific provisions on cybersecurity. The IRS and the Department of Labor haven’t issued any formal guidance that discusses ERISA cybersecurity responsibilities either. This means that the courts may eventually have to define the ERISA responsibilities of the parties who administer a plan when a cybersecurity breach results in theft of a participant’s account. Based on long-standing ERISA law, it seems likely that plan sponsors…