Key Points -
401(k) plan fiduciaries have the duty to monitor reasonableness of fees for all investment options available to participants under a 401(k) plan.
Offering low-fee investment options does not alleviate the...more
On September 28, 2021, in Sofco Erectors v. Trustees of the Ohio Operating Engineers Pension Fund, No. 20-3639/3671, 2021 BL 367718 (6th Cir. Sept. 28, 2021), the 6th Circuit Court of Appeals issued the first major appeals...more
Many employers in the retail, construction, service, entertainment, manufacturing and transportation industries contribute to multiemployer defined benefit pension plans (MEPs) on behalf of their unionized employees. A large...more
7/14/2021
/ American Rescue Plan Act of 2021 ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Interim Final Rules (IFR) ,
Multiemployer Plan ,
Multiple Employer Plan (MEP) ,
PBGC ,
Pension Reform ,
Pensions ,
Retirement Plan ,
Withdrawal Liability
- Furloughs in response to the current economic situation or local and state government closure orders due to COVID-19 should not result in complete withdrawal or partial withdrawal liability from a MEP.
- It may be good...more
- On February 26, 2020, the NLRB issued a final rule tightening the standard for joint employment under the NLRA.
- The joint-employer standard is important because if two entities are joint employers, both must bargain...more
With President Trump signing into law the Bipartisan Budget Act of 2018 this past Friday, Congress established a new bipartisan, bicameral committee with the express goal of improving “the solvency of multiemployer pension...more
On March 28, 2016, the U.S. District Court for the District of Massachusetts in Sun Capital Partners III LP v. New England Teamsters & Trucking Industry Pension Fund, No. 10-10921 (D. Mass. 2016) delivered a surprising...more
The Multiemployer Pension Reform Act of 2014 (the MPRA), as part of the Consolidated and Further Continuing Appropriations Act of 2015 (the Act), H.R. 83, was passed by the House on December 11, 2014, the Senate on December...more