Practical Insights: Is Your Multi-Employer Pension Plan Threatening to Terminate Early Retirement Benefits For Your Employees If You Withdraw From the Plan?

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Some union trustees of labor-management multi-employer pension plans (“MEPS”) that are greatly under-funded are using the Pension Protection Act of 2006, (“PPA”) to threaten not to pay plan participants early retirement benefits if their employers withdraw from the plan. In fact, one pension fund is saying that its trustees soon may adopt a rule that future retirees who last worked in a bargaining unit that voluntarily withdraws from the pension fund risk elimination or reduction of benefits payable prior to age 65.

How can a company respond to this type of threat by its multi-employer pension fund?

Please see full insight for more information.

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