Multi-Employer Pensions

News & Analysis as of

The MPRA: One Size Fits No One

This is another in our series addressing the continuing deterioration of multi-employer defined benefit pension plans. Regardless of the identity of the next tenant of the White House, a major item on the new...more

Workplace Policy Institute Insider Report - October 2016

Littler's Workplace Policy Institute Insider Report details key labor, employment, and benefits news and events at the federal, state, local, and global levels. The October edition of the Insider Report examines what Congress...more

Crash Landing for Central States – What now for Multi-employer Pension Funds?

In the aftermath of the rejection of the Central States Southeast and Southwest Areas Pension Plan (“Central States”) application to reduce core benefits by Treasury Special Master Kenneth Feinberg, it is critical that...more

A Compilation of Non-Enforcement Actions

Non-Enforcement - Amendments to the Venture Capital Fund Adviser and Private Fund Adviser Exemptions - Last month the SEC’s Division of Investment Management issued a guidance update (Update) addressing recent...more

Private Equity Funds Held Liable for Pension Obligations of a Portfolio Company

District Court: Two Affiliated Funds Formed “Partnership-in-Fact” and Have Controlled Group Liability for Portfolio Company Pension Liabilities - In a closely watched case (the “Sun Capital” case), the U.S. District...more

Private Equity Funds Liable for Withdrawal Liability of Portfolio Company

What you need to know: On March 28, 2016, the US District Court for the District of Massachusetts held, on remand from the First Circuit, that two related private equity funds were jointly and severally liable for...more

2016 Ontario Budget Provisions Affecting Registered Pension Plans and the ORPP

On February 25, 2016, the Ontario government tabled its 2016 budget (Budget), which included a number of provisions affecting registered pension plans and the Ontario Retirement Pension Plan (ORPP). On that same day, the...more

Multiemployer Pension Plans Reduced Interest Rate Assumptions Dramatically Increase Withdrawal Liability

Many multiemployer pension plans are struggling financially today, and, according to the PBGC, about 10 percent of the 1,400 plans are expected to become insolvent within the next 10-15 years. These looming insolvencies were...more

ORPP: Additional Design Details Released

On January 26, 2016, additional design details of the Ontario Retirement Pension Plan (ORPP) were released by the Ontario government. The government reconfirmed its commitment to implement the ORPP beginning January 1, 2017,...more

Ontario Government Releases Additional ORPP Design Details

On January 26, 2016, the Ontario government released additional design details about the Ontario Retirement Pension Plan (ORPP) as well as a technical bulletin?, which provide additional information about the ORPP that will...more

Buyer Beware! Purchasers in Asset Sales Liable for Multiemployer Pension Plan Withdrawal Liability

Two recent appellate court decisions have made it easier for multiemployer pension plans to impose withdrawal liability on a purchaser in an asset deal. In Tsareff v. ManWeb Services, Inc., the Seventh Circuit expanded its...more

DOL slightly opens the door for Open MEPs

I was always a fan of “open” multiple employer plans (MEPs) because it allowed smaller companies to get better pricing on plan expenses and choice of investments and providers by aggregating with smaller, similar plans....more

Manufacturing a Troubling Future Part Two:  Recent Decision

This is the second of two posts regarding the “troubling” state of multi-employer pension plans. My October post provided an overview of the recently published Teamsters’ Central States Pension “Rescue Plan” and discussed...more

Bipartisan Budget Act Extends MAP-21 Pension Funding Relief and Increases PBGC Premiums

On Monday, November 1, 2015, President Obama signed into law the Bipartisan Budget Act of 2015 (the “BBA”) which brings familiar changes for sponsors of defined benefit pension plans. Similar to the Moving Ahead for Progress...more

Employee Benefits Developments - October 2015

The Internal Revenue Service (IRS), consistent with prior regulations from the Department of Health and Human Resources (HHS), issued supplemental proposed regulations requiring employer sponsored health plans to provide...more

A Troubling Future Part One:  Teamsters’ Pension Rescue Plan

Two significant developments in the multi-employer pension world emerged in September, developments which could give manufacturers concern.  While this is not the time to panic (we have plenty of time to panic), readers...more

Central States Pension Fund Submits ‘Rescue Plan’ Seeking Approval to Reduce Benefits

On September 25, the Central States Pension Fund (one of the largest multiemployer/union pension funds in the country) submitted to the U.S. Department of Treasury a proposed “rescue plan,” which would allow the fund to...more

Global Private Equity Newsletter - Fall 2015 Edition: Buyer Beware – Court Lowers Hurdle to Make Claim for Withdrawal Liability...

In Tsareff v. ManWeb Services, Inc., the U.S. Court of Appeals for the Seventh Circuit held that an asset purchaser’s pre-closing knowledge of a seller’s potential multiemployer plan withdrawal liability could be sufficient...more

“Highest Contribution Rate” Means Highest of Any CBA for ERISA Withdrawal Liability Payments

The Third Circuit held that where an employer has been party to multiple collective bargaining agreements (“CBAs”) with a multiemployer fund, an employer’s withdrawal liability should be based on “the single highest...more

Seventh Circuit Continues to Apply Federal Successor Liability Doctrine to Multiemployer Pension Plan Withdrawal Liability

Regarding multiemployer pension plans, the U.S. Court of Appeals for the Seventh Circuit has long held that a purchaser can incur withdrawal liability in an asset transaction because of the federal successor liability...more

"Last Man Standing" Pension Schemes - Pension Protection Fund Levies Trustees of defined benefit pension schemes which claim to...

The PPF provides compensation to members of defined benefit pension schemes where the sponsoring employer of the scheme becomes insolvent and the scheme cannot provide 100 per cent PPF compensation. Part of the PPF's funding...more

Congress Makes It Possible to Reduce Some Union Pensions

As a part of the Consolidated and Further Continuing Appropriations Act, 2015, passed by Congress and signed by the President on December 18, 2014, the 161-page "Multiemployer Pension Reform Act of 2014" (Act) gives the...more

Five 2015 Labor and Employment Predictions for Manufacturers

The second half of 2014 was a whirlwind of activity on the labor and employment front, and I expect that trend to continue in 2015 with manufacturers having to navigate the rapids created by these developments....more

ERISA Litigation Review

The courts have been busy in 2014, addressing a variety of issues in the employee benefits field in decisions that impact everyone from union travelers to ESOP fiduciaries. This advisory summarizes a selection of the 2014...more

Another Way To Become Personally Liable To A Multiemployer Plan

I have blogged in the past about individuals and businesses that are not signatories to a collective bargaining agreement being found liable for withdrawal liability imposed by multiemployer pension plans (plans jointly...more

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