Multiemployer Pension Plans in Mergers and Acquisitions — Troutman Pepper Podcast
Last week in Troy Grove v. NLRB, No. 23-1164 (D.C. Cir., June 13, 2025), the United States Court of Appeals for the D.C. Circuit delivered a sharp rebuke to the National Labor Relations Board, finding “irrational” the Board’s...more
Holding a settlement agreement was a revised withdrawal liability assessment, the U.S. Court of Appeals for the Third Circuit rejected a group of dairy companies’ petition to dismiss a pension fund’s claim to enforce a $39...more
A recent case from the United States Court of Appeals for the Sixth Circuit, Local No. 499, Board of Trustees of Shopmen's Pension Plan v. Art Iron, Inc., et al., 177 F. 4th 923 (6th Cir. 2024), clarifies a significant legal...more
In July, the Third Circuit upheld a District of New Jersey decision to throw out a withdrawal liability assessment, finding the multiemployer pension fund was barred from pursuing its claim because the fund unreasonably...more
In this insightful episode of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, attorneys Paul Porretta and Christopher Stock delve into the complex world of...more
On April 25, 2023 the Department of Labor (“DOL”) published Field Assistance Bulletin 2023-01 (the “FAB”), which provides guidance to multiemployer pension plans that receive Special Financial Assistance (“SFA”) regarding the...more
The U.S. Court of Appeals for the Seventh Circuit recently ruled that Central States, Southeast and Southwest Areas Pension Fund may continue its lawsuit against Transervice Logistics, Inc. and Zenith Logistics, Inc. seeking...more
In Metzgar v. U.A. Plumbers & Steamfitters Local No. 22 Pension Fund, 2022 U.S. App. LEXIS 5466 (2d Cir. Mar. 2, 2022), the Second Circuit in a summary order affirmed the district court’s decision granting summary judgment in...more
Although variable annuity pension plan (VAPP) designs have been permissible for decades, they have not yet seen widespread adoption—particularly in the Taft-Hartley multiemployer plan space. This post provides a brief...more
Under the provisions of the Employee Retirement Income Security Act (“ERISA”) as modified by the Multiemployer Pension Plan Amendments Act of 1980 (“MPPAA”), an employer who withdraws from a multiemployer pension plan is...more
This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer...more
This episode of The Proskauer Benefits Brief is the first of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer...more
For employers who contribute to financially-troubled multiemployer pension plans (multiemployer plans), a lot has changed in the last six months. In March, Congress passed the American Rescue Plan Act of 2021 (ARP) which...more
On Friday January 8, the Pension Benefit Guaranty Corporation (PBGC) published a final rule that provides multiemployer pension plans with additional methods to help calculate employer withdrawal liability. The rule includes...more
Approximately a quarter of the workforce covered by a traditional pension plan is in a multiemployer plan, according to the U.S. Bureau of Labor Statistics. Many manufacturers that participate in such plans are unaware their...more
Earlier this month, the U.S. Supreme Court denied a request to review the First Circuit Court of Appeals decision in the Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund case, thereby...more
The COVID-19 pandemic has had a significant financial impact on business and individuals around the globe, with global financial markets seeing significant drawbacks in March 2020 alone. That impact has also been felt by U.S....more
The effect of the coronavirus (COVID-19) on businesses and individuals is unprecedented and staggering. Many employers have or soon will be forced to implement some type of COVID-19-related workforce reduction, which can have...more
In a white paper and technical explanations, Republican Senators Charles E. Grassley (Chairman of the Senate Committee on Finance) and Lamar Alexander (Chairman of the Senate Committee on Health, Education, Labor and...more
Private equity fund sponsors can breathe a sigh of relief last week as the First Circuit Court of Appeals, reversing a district court finding, held that two separate private equity funds sharing a general partner (Sun Capital...more
The Segal Group is the premier actuarial firm in the country providing services for hundreds of multi-employer pension funds. For almost 40 years it has used its own methodology, known as the “Segal Blend” to calculate...more
If you use union employees in your projects, you may contribute to a multiemployer pension plan—perhaps a few cents or few dollars per hour worked. However, some employers are surprised to learn they could be assessed with...more
In Bauwnes v. Revcon Technology Group, Inc., the U.S. Court of Appeals for the Seventh Circuit held that the trustees of a multiemployer pension plan could not agree to an employer’s installment payment plan of its withdrawal...more
Multiple Employer Plans: Proposed IRS Regulations Eliminate the “One Bad Apple” Rule - A multiple employer plan (MEP) is a tax qualified retirement plan that is maintained by two or more employers who are not part of the...more
Employers that completely or partially withdraw from underfunded multiemployer pension funds are well aware that they may owe the fund withdrawal liability—an assessment against the employer of its allocable share of the...more