This article was originally published by Law360 on April 24, 2025 and is made available here with permission.ERISA prohibits fiduciaries from entering into prohibited transactions with related parties unless the transaction is specifically exempted. Does every ERISA plan fiduciary who hires a third party service provider to service its plan engage in a prohibited transaction?
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Cohen & Buckmann Remembers Jeff Mamorsky: An Honored Colleague and ERISA Pioneer
By Sandra Cohen
We are deeply saddened by the loss of our esteemed colleague and friend, Jeffrey D. Mamorsky, who died on April 21 at age 79. Jeff was a trailblazer in the field of employee benefits law, and his contributions to the legal profession and the lives of countless individuals over the past five decades were both…
Lawdragon 100 Managing Partners You Need to Know 2025
Lawdragon has selected the firm’s co-founder and managing partner Sandra Cohen to its 2025 Lawdragon 100 Managing Partners You Need to Know guide. This inaugural list recognizes law firm leaders who are not only exceptional lawyers but also effective strategists, mentors and visionaries, “embracing enthusiastic, creative, driven and intelligent approaches to law firm growth, performance,…
Cohen & Buckmann Welcomes Texas-Based Attorney Austin Light
By Sandra Cohen
New York, New York. (April 4, 2025) — Boutique executive compensation and employee benefits law firm Cohen & Buckmann P.C. has hired Texas-based attorney Austin Light as a senior associate, effective March 31. Light brings 10 years of experience in compensation and benefits, estate planning and tax strategy, enhancing the firm’s ability to provide tailored…
Carol Buckmann Analyzes Data Breach Lawsuits in Law360 Expert Analysis Article
By Sandra Cohen
Recent class action lawsuits over data breaches highlight the growing legal risks that retirement plan administrators and sponsors face. In a Law 360 Expert Analysis article, Carol Buckmann addresses how plan administrators and sponsors are increasingly exposed to legal action when participant data is compromised. Participants in the lawsuits are pursuing various state and federal…
Carol Buckmann Named to Law 360 Advisory Board
By Sandra Cohen
Carol Buckmann has been selected to Law360’s 2025 Benefits Editorial Advisory Board for the second consecutive year. In this role, she will provide guidance on key trends, regulatory developments and pressing issues shaping ERISA and employee benefits law. With decades of experience advising employers, fiduciaries and service providers, Carol is a leading authority in her field,…
DOL Finally Allows Self-Correction of Late Contributions under VFCP-But with Catches
By Terry Moore
The Department of Labor (DOL) finally amended the Voluntary Fiduciary Correction 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 contributions, which is one of the most common compliance violations. This is viewed as a…
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, 86 F.4th 961 (2d Cir. 2023), and it could have a big impact on ERISA…
"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 unrelated to the best interests of participants. (Spence v. Am. Airlines, Inc., N.D. Tex., No.…
Carol Buckmann Talks Private Equity in 401(k)s and Trump Administration Impact with InvestmentNews
By Sandra Cohen
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 from the article include:
- Private equity (PE) investments are difficult to value compared to publicly
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