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D.C. Circuit Holds Withdrawal Liability Interest Rate Must Reflect Plan’s Investment Policy

On Friday, July 8, 2022, the U.S. Court of Appeals for the D.C. Circuit issued its decision in United Mine Workers of America 1974 Pension Plan v. Energy West Mining Company, joining the Sixth Circuit in holding that the...more

PBGC Institutes Major Changes in its Special Financial Assistance Final Rule

On July 7, 2022, the Pension Benefit Guaranty Corporation (PBGC), the independent federal corporation that insures private-sector defined benefit plans under Title IV of the Employee Retirement Income Security Act of 1974...more

Congress Considers Banning Discretionary Clauses in ERISA Plans

On May 12, 2022, the “Employee and Retiree Access to Justice Act” was introduced in the House of Representatives by Mark DeSaulnier (D-CA).  Senator Tina Smith (D-MN) introduced a companion bill in the Senate. The bill seeks...more

Second Circuit Finds No Successor Liability for ERISA Withdrawal Where Employer Did Not Acquire Unionized Facility or Employees

On January 27, 2022, in New York State Teamsters Conference Pension and Retirement Fund v. C&S Wholesale Grocers, Inc., the Second Circuit joined the Third, Seventh, and Ninth Circuits in applying the doctrine of successor...more

PBGC Issues Interim Final Rule on the American Rescue Plan Act’s Special Financial Assistance Program

On July 9, 2021, the Pension Benefit Guaranty Corporation issued its interim final rule implementing the Special Financial Assistance (SFA) program passed in March 2021 as part of President Biden’s American Rescue Plan Act of...more

Department of Labor Announces Non-Enforcement Policy and Intent to Revisit ESG, Proxy Rules

On March 10, 2021, the Department of Labor’s Employee Benefits Security Administration (EBSA) announced that it will not enforce or otherwise pursue enforcement actions with respect to two recently issued final rules amending...more

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