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Employee Retirement Income Security Act (ERISA) › Withdrawal Liability › Pension Funds

Jackson Lewis P.C.

Withdrawal Liability Collection Scope Expanded

Jackson Lewis P.C. on

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

Fisher Phillips on

“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

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

Jackson Lewis P.C.

Building and Construction Industry Exemption: Tool to Contest Withdrawal Liability

Jackson Lewis P.C. on

The Multiemployer Pension Plan Amendments Act of 1974 (MPPAA) was enacted purposefully by Congress to seize moneys from contributing employers to fund multiemployer defined benefit pension funds regardless of the employers’...more

Bodman

Sixth Circuit Addresses Actuarial Assumptions Regarding Withdrawal Liability

Bodman on

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

Tucker Arensberg, P.C.

Individual Owners Held Personally Responsible for Withdrawal Liability Based on Rent-Free Leasing Activity

Tucker Arensberg, P.C. on

The Seventh Circuit recently issued an important decision imposing personal liability on individuals for certain debts of their company pursuant to ERISA’s controlled group rules. In Local 705 Int’l Broth. of Teamsters...more

Tucker Arensberg, P.C.

Federal Court Appoints a Traditional Labor and Pension Arbitrator, Rather Than a Former Federal Judge, to Resolve $205 Million...

Tucker Arensberg, P.C. on

Under ERISA, withdrawal liability disputes are subject to mandatory arbitration. The parties are tasked with mutually selecting the arbitrator, but if they reach an impasse in the selection process, a federal district court...more

Faegre Drinker Biddle & Reath LLP

First Circuit Hands Down Significant Private Equity Ruling in Sun Capital Litigation

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In an important decision, the U.S. First Circuit Court of Appeals recently ruled that two separate but related private equity funds – Sun Capital Partners III and Sun Capital Partners IV – are not jointly and severally liable...more

Seyfarth Shaw LLP

The Ninth Circuit Hammers Out A New Successorship Liability Test Under The MPPAA

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The Ninth Circuit, in Resilient Floor Covering Pension Trust Fund Board of Trustees v. Michael’s Floor Covering, Inc., Case No. 12-17675 (9th Cir. Sept. 11, 2015), joined the Seventh Circuit in finding that an asset...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Applies “Successorship Doctrine” to Claim for MPPAA Withdrawal Liability

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The Ninth Circuit concluded in a case of first impression that an employer could be held liable for its predecessor’s withdrawal liability to a multiemployer pension fund pursuant to the “successorship doctrine.” The Court...more

Seyfarth Shaw LLP

Is An Asset Purchaser Liable For Seller’s Withdrawal Liability?

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Many asset buyers believe that, as long as they do not agree to ERISA Section 4204’s sale of assets exception to withdrawal liability, they will acquire the seller’s assets free and clear of any prior contribution history and...more

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