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Employee Benefits › Pension Funds › Withdrawal Liability

Jackson Lewis P.C.

Withdrawal Liability Collection Scope Expanded

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Takeaway Related Links Article The Third Circuit’s recent ruling enhanced a pension fund’s ability to pursue withdrawal liability collection against affiliated employers. The decision underscores the evolving nature of ERISA,...more

Fisher Phillips

Bankruptcy Court Upholds PBGC Rules, Says Massive Pension Fund Bailouts Can’t Reduce Employer’s Withdrawal Liability: Your 5 Key...

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A bankruptcy court in Delaware recently upheld rules issued by the Pension Benefit Guaranty Corporation (PBGC) that severely impact how liability is calculated for employers withdrawing from multiemployer pension plans...more

Fisher Phillips

Withdrawal Liability Calculations for Multiemployer Pension Plans: What Employers Must Know About Financial Exposure

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“Withdrawal liability” blindsides many employers when they stop contributing to collectively bargained pension plans. Multiemployer plans have used different calculations for years that inflate the withdrawal liability they...more

Littler

Illinois Federal Court Holds that a Pension Rehabilitation Plan Fund Used an Improper High-Contribution Rate in Withdrawal...

Littler on

On March 29, 2024, the U.S. District Court for the Northern District of Illinois issued its decision in Central States, Southeast and Southwest Areas Pension Fund v. Event Media, Inc. In a matter of first impression for...more

Fisher Phillips

Union Pension Fund Can’t Have It Both Ways: Federal Appeals Court Orders Fund to Repay Employer $2 Million

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In a classic man-bites-dog turnaround, a federal appeals court ordered a Teamsters pension fund to return approximately $2 million in withdrawal liability payments to an employer that had stopped contributing in 2005. The...more

Littler

D.C. Circuit Breaks from Second Circuit, Finds Pension Fund May Retroactively Change Its Interest Rate Assumptions

Littler on

On February 9, 2024, the U.S. Court of Appeals for the D.C. Circuit issued its decision in Trustees of IAM Nat'l Pension Fund v. M & K Emp. Sols., LLC, No. 22-7157 (D.C. Cir. Feb. 9, 2024), affirming the district court’s...more

Fisher Phillips

Teamster Pension Bailout May Not Be Remedy Employers Hoped For

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Christmas came early this year for the beleaguered Teamsters Central States Pension Fund and its over 350,000 participants – but employers may soon realize they just received a lump of coal in their stockings. On December 8,...more

Bodman

Sixth Circuit Addresses Actuarial Assumptions Regarding Withdrawal Liability

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In Sofco Erectors, Inc. v. Trustees of the Ohio Operating Engineers Pension Fund (“Sofco”) (September, 28, 2021), the Sixth Circuit Court of Appeals issued a long awaited decision regarding the appropriateness of interest...more

Polsinelli

The Saga Resumes: The Bakery & Confectionery International Pension Fund Again Announces a Two Pool Proposal

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As we reported previously, the Bakery & Confectionery Union and Industry International Pension Fund (B&C Fund) has been underfunded for years, with actuaries estimating that the B&C Fund will become insolvent by January 2030....more

Seyfarth Shaw LLP

Seventh Circuit Says: Clear Error Standard Applies To Court Review Of Withdrawal Liability Arbitrator’s CBA Interpretation

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Seyfarth Synopsis: The Seventh Circuit has now applied a clear error standard of review to a withdrawal liability arbitrator’s interpretation of a collective bargaining agreement, thus enhancing the role of the arbitrator in...more

FordHarrison

Multiemployer Pension Plans: Section 1405 – Limitation on Withdrawal Liability

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In a recent decision involving a withdrawal liability assessment by a multiemployer pension plan, an arbitrator reduced the assessment by approximately 50 percent and ruled in favor of the employer on several significant...more

Franczek P.C.

Central States Pension Fund Submits ‘Rescue Plan’ Seeking Approval to Reduce Benefits

Franczek P.C. on

On September 25, the Central States Pension Fund (one of the largest multiemployer/union pension funds in the country) submitted to the U.S. Department of Treasury a proposed “rescue plan,” which would allow the fund to...more

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