Cohen & Buckmann Insights

Latest from Cohen & Buckmann Insights

Who is responsible when a plan fails to apply the correct definition of compensation in determining benefits, fails to calculate vesting service correctly, or doesn’t make distributions to participants who need to get required minimum distributions? Plan sponsors are often surprised to learn that they are. Why Your Recordkeeper Is Not Responsible. Plan sponsors may find out that they are still responsible when their plans are selected for audit by the IRS or they are…
Private employers with a physical location in the State of New York have a fast approaching deadline to comply with the Health and Essential Rights Act (the HERO Act).  The HERO Act requires employers to adopt an airborne infectious disease exposure prevention plan to protect employees during any future disease outbreak.  What’s the Background? On July 6, 2021, the New York Department of Labor (DOL) published the HERO Act Airborne Infectious Disease Exposure Prevention Standard (the Standard);…
NEW YORK (June 30, 2021) –– National executive compensation and employee benefits law firm Cohen & Buckmann, PC is pleased to announce a milestone achievement – the firm’s fifth anniversary. Founded in 2016 by Sandra Cohen and Carol Buckmann, the firm has tripled in size over the past five years and has handled more than 750 client matters for leading organizations throughout North America and the world. The two attorneys, formerly with Sullivan &…
In Part 3 of “Using Mandatory Arbitration to Avoid ERISA Class Actions,” published in Bloomberg Law, Carol Buckmann concludes the series by addressing the practical considerations that should be weighed by plan sponsors contemplating mandatory arbitration and the outlook for the future clarification of the law. She outlines some of the pros and cons related to mandatory arbitration of ERISA matters, and points out that if a class action waiver is also enforced, it could…
In Part 2 of “Using Mandatory Arbitration to Avoid ERISA Class Actions,” published in Bloomberg Law, Carol Buckmann continues to explore if, when and how mandatory arbitration clauses can be used to rein in the significant increase in fiduciary breach class actions. The complexities of ERISA make these questions difficult for lower federal courts to decide under recent U.S. Supreme Court decisions upholding arbitration in the employment context. and there have been inconsistent decisions across…