As published by Law360 (January 13, 2020, 5:43 PM EST) — Following oral arguments that were held in February 2018, in a long-anticipated decision in the National Retirement Fund v. Metz Culinary Management Inc., the U.S. Court of Appeals for the Second Circuit held that a multiemployer pension fund’s use of a lower interest rate that was … Continue Reading
For years, steep arbitration fees have made many employers think twice about contesting a questionable withdrawal liability determination. The Pension Benefit Guaranty Corporation’s (PBGC) approval of a lower fee schedule may ease that hurdle. ERISA, as amended by the Multiemployer Pension Plan Amendment Act of 1980 (MPPAA), requires all disputes between an employer and a … Continue Reading
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 Pensions) have proposed reforms to the multiemployer pension plan system. If implemented, the proposed reforms (not yet introduced as a bill) would represent … Continue Reading
This is another blog on our monitoring the status of defined benefit multi-employer pension funds. Since this author last wrote to you, it has been revealed that the Central States Pension Fund is scheduled to become insolvent sometime in 2025. Worse yet, it has been announced that the multi-employer fund of the Pension Benefit … Continue Reading
Under the Employee Retirement Income Security Act (“ERISA”), as amended by the Multiemployer Pension Plan Amendments Act (“MPPAA”), an employer that has assumed an obligation to contribute to collectively-bargained and jointly-administered defined benefit pension plans ( “multiemployer plans”) is liable for its allocable share of any underfunding upon the permanent cessation of that obligation. This … Continue Reading
