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Employee Retirement Income Security Act (ERISA) › Pensions › Investment Funds

Latham & Watkins LLP

US Government Reopens Discussion of Private Pension Investments Expectations

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The Department of Labor has taken two recent actions that indicate where the approach to retirement investment policy may go under the new administration....more

Cadwalader, Wickersham & Taft LLP

Cascading Into Spring March 2024 - Cascading Security

Cadwalader, Wickersham & Taft LLP on

With the increasing complexity of fund structures and the growing prevalence of US Pension Funds in the European market, we have seen an uptick in the number of queries particularly from European banks and funds around how to...more

DLA Piper

Management Rights Letters: What they are, why they are important and potential traps to be mindful of

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What are they? A letter agreement between a portfolio company and an investing venture capital fund which provides the venture capital fund with certain “management rights” that allow it to substantially participate in, or...more

Latham & Watkins LLP

Viewpoints: Portfolio Company Pension Liabilities

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New York partner Bradd Williamson, Global Chair of Latham’s Benefits, Compensation & Employment Practice, and Chicago partner Robin Struve discuss Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry...more

Latham & Watkins LLP

Investment Funds: Sun Capital Reversal Offers Important Takeaways Regarding Portfolio Company Pension Liabilities

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The First Circuit reverses a lower court decision and finds two Sun Capital private equity funds are not liable for portfolio company’s pension plan liabilities under ERISA. On November 22, 2019, the United States Court of...more

McDermott Will & Schulte

Big ERISA Decisions on the Horizon—SCOTUS to Review Third ERISA Case this Term

McDermott Will & Schulte on

The US Supreme Court recently agreed to review the Eighth Circuit’s decision in Thole v. US Bank, in which the Eighth Circuit held that participants in an overfunded defined benefit pension plan lack standing to sue for...more

Mintz

Mass. District Court Holds Private Equity Funds Liable for a Portfolio Entity’s Pension Benefits

Mintz on

The Private Equity Practice has been getting an increasing number of calls related to the decision made earlier this spring (Sun Capital Partners III, LP v. New Eng. Teamsters & Trucking Indus. Pension Fund, 2016 US Dist....more

Proskauer - Employee Benefits & Executive...

Unpaid Employer Contributions as Plan Assets: Expansion Of Liability Under ERISA

Proskauer - Employee Benefits & Executive... on

The Employee Retirement Income Security Act of 1974, as amended (“ERISA”), requires trustees of multiemployer pension and benefit funds to collect contributions required to be made by contributing employers under their...more

Morgan Lewis

Private Equity Fund May Be “Trade or Business” Under ERISA

Morgan Lewis on

First Circuit holds that an investment fund may be responsible for controlled group pension liabilities of portfolio companies. On July 24, the U.S. Court of Appeals for the First Circuit issued a significant decision...more

Eversheds Sutherland (US) LLP

Legal Alert: Not Exactly a Day in the Sun: U.S. Court of Appeals Holds Private Equity Fund Is Engaged in a Trade or Business

Eversheds Sutherland (US) LLP on

In Sun Capital Partners III LP v. New England Teamsters & Trucking Industry Pension Fund, No. 12-2312, 2013 WL 3814984 (1st Cir. July 24, 2013), the U.S. Court of Appeals for the First Circuit effectively found that the...more

Proskauer Rose LLP

Private Investment Funds May Be Liable for Portfolio Company's Underfunded Pension Liabilities under First Circuit Ruling

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On July 24, 2013, the U.S. Court of Appeals for the First Circuit held that a private equity investment fund was engaged in a "trade or business" under the Employee Retirement Income Security Act of 1974, as amended (ERISA)...more

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