In a bit of good news for plan sponsors, the IRS announced in Notice 2022-33 on August 3, 2022, that it is extending upcoming plan amendment deadlines under the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”), the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the Bipartisan Miners
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Navigating the New COBRA Subsidy – Special Notice Required by May 31
By Emily Meyer
The American Rescue Plan Act (“ARPA”) made a full subsidy for six months of premiums available to COBRA-eligible individuals whose employment was involuntarily terminated or who lost coverage due to a reduction in hours. Between this subsidy program and the further extension of the COBRA notice, election, and premium payment deadlines under Department of Labor…
Navigating the COBRA Deadline Extension
By Emily Meyer
Earlier this year, the COBRA notice, election and premium payment deadlines were extended from March 1 until 60 days after the end of the ongoing COVID-19 national emergency. This extension has imposed an unfamiliar administrative burden, and the potential for significant coverage cost increases, on employers that sponsor group health plans. If they have not…
Pensions & Investments Article Quoting Carol Buckmann Highlights Target-Date Fund Risks and Volatility
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…
Will 2020 Be a Banner Year for 401(k) Litigation? How Fiduciaries Can Protect Themselves
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…
Elizabeth Drigotas to Speak at Practicing Law Institute Executive Compensation Event
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
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IRS Clarifies Rules for Delayed Pension Contributions
My latest COVID-19 Compliance Corner column discusses the rules that apply when plan sponsors take advantage of the CARES Act’s extended contribution deadline for defined benefit plan contributions.https://www.plansponsor.com/covid-19-compliance-corner-irs-clarifies-rules-delayed-db-plan-contributions
Elizabeth Drigotas to Speak at Worldwide Employee Benefits Network Event About COVID-19 and the New Workplace
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…
Carol Buckmann to Present at PLANSPONSOR National Annual Conference
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…
Carol Buckmann to Participate on PLANSPONSOR Webinar, “Distribution Options for Employees”
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
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