PODCAST: Williams Mullen's Benefits Companion - Multiemployer Plans
Under ERISA’s multiemployer pension plan provisions (the Multiemployer Pension Plan Amendments Act of 1980 or MPPAA), an employer who withdraws from a multiemployer pension plan normally is liable for withdrawal liability....more
First Circuit: Two affiliated funds did not form an implied partnership liable for pension obligations of a portfolio company, but private equity funds can still be subject to controlled group pension liability...more
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
Seyfarth Synopsis: The First Circuit reversed a district court’s ruling holding two Sun Capital private equity (PE) funds responsible for the withdrawal liability incurred by a bankrupt portfolio company. ...more
Seyfarth Synopsis: In a long-awaited decision with significant impact for the private equity industry, in Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund, the United States Court of...more
The First Circuit, however, disagreed with the lower court. Analyzing the multi-factor test for establishing partnership status under federal tax court precedent and noting the lack of other formal guidance from regulators or...more