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It’s All In The Fine Print: Will Your Fiduciary Insurance Cover You When You Need It?

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Will that insurer your company has been paying premiums to for all of these years stand behind you if you are sued for ERISA violations?  Have you just been relying on a broker to give ...
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Boomerangs and the PBGC, or When a Sale is Not a Sale

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. The surprising thing about a boomerang is that just when you think you have tossed it away, it suddenly comes back to you.  The same result can happen under Section 4069 of ERISA, a rarely ...
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The Blindsided Fiduciary: Ignorance is Not Bliss

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Alliance Bernstein recently released the shocking result of a survey it had taken of plan sponsors: a whopping 37% of those fiduciaries surveyed didn’t know that they were fiduciaries.Obviously, ...
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Suing to Recover Benefit Overpayments? It May Not Be So Easy

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Can plan fiduciaries sue to recover overpayments made many years ago? As plan audits have uncovered more and more payment errors, many plans have acted as if no time limits or other restrictions ...
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No More Determination Letters? What are Plan Sponsors to Do?

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Would you bet millions of dollars on your ability to accurately predict how the IRS will interpret the tax code? That’s what a plan sponsor that adopts a plan that isn’t approved by ...
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Planning To Annuitize Current Retirees? Fifth Circuit Unambiguously Upholds Verizon’s Right To De-Risk

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Sometimes you appreciate confirmation that actions – you always thought were permissible – continue to be viable options.  We have just received confirmation from the U.S. Court of ...
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The Estopped Fiduciary: When May Participants Rely on Incorrect Calculations?

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Mistakes happen. Even in the best-run plans, occasional errors in estimating and calculating benefits are inevitable and sometimes they are caught only years after payments commenced.  ...
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Double Jeopardy for Pension Plan Sponsors Selling Businesses: Have You Provided Spinoff Notices?

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. There are many benefits issues that must be dealt with when businesses are sold, including the potential involvement of the Pension Benefit Guaranty Corporation (“PBGC”)    See, ...
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Five Ways the Department of Labor Could Improve its Fiduciary Proposal

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. The U.S. Department of Labor last month released its long-awaited re-write of proposed changes to the rules determining who is a fiduciary under ERISA, and the different sides have rushed ...
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The Dutiful Fiduciary: What’s Really Important About the Supreme Court’s Tibble Decision

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Are there time limits on a participant’s ability to challenge imprudent 401(k) investment fund offerings?  Can participants challenge an investment fund selected ten or even twenty years ...
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