Multiemployer Pension Plans in Mergers and Acquisitions — Troutman Pepper Podcast
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
In late March 2022, the US Internal Revenue Service withdrew regulations proposed in 2019 and issued new proposed regulations under sections 413(c) and (e) of the Internal Revenue Code, which provide for an exception to...more
Albeit typically a matter for Congress, tapped Secretary of Labor Marty Walsh is prepared to utilize his labor experience to address the growing concern regarding the uptick in underfunded multiemployer pension plans that are...more
Labor law, along with other employment-related policy matters, is at the forefront of the political, economic, and oftentimes cultural divide in the nation. With the change in Presidential administrations, some knowledgeable...more
On June 18, 2020, the US Department of Labor (DOL) published a request for information (RFI), in advance of its potential proposal of a class exemption (PTE) providing relief for ERISA prohibited transactions arising in the...more
Recently, the Department of Labor (DOL) published final rules clarifying the circumstances under which “bona fide” groups or associations of employers and professional employer organizations (PEOs) may be permitted to sponsor...more
On July 29, 2019, the United States Department of Labor (DOL) issued a Final Rule on Association Retirement Plans (ARPs) (the Final Rule), defining how an employer, association, or professional employer organization (PEO) can...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
One of the biggest strikes against multiple employer plans (MEPs) may go the way of bellbottoms and Betamax. The Internal Revenue Service is proposing an exception to the one bad apple rule, which means that the action of...more
Six years since the Department of Labor (DOL) advisory opinion that required commonality between adopting employers of the multiple employer plan (MEP) in order for the MEP to be considred a plan, the DOL failed to issues...more
I have been hearing a lot from advisors and plan providers about multiple employer plans (MEPs) with the idea that open MEPs where a plan where the adopting employer have no commonality, but be treated as one plan for ERISA...more
Déjà Vu All Over Again? It is perhaps fitting that last Friday was Groundhog Day, as this week we relived the same government funding battle that we went through just a few weeks ago. Thankfully, because the shutdown card has...more
As has been our tradition, January is the time to predict the big developments in the coming year which will impact on manufacturers. Notwithstanding my “Lawyer’s Shrug,” here is my take on 2017....more
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
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
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
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