News & Analysis as of

Multiemployer Plan

Spending Quality Time with Your Pension Plan Actuary

by Winstead PC on

The Internal Revenue Service updated its mortality tables under final regulations which are generally applicable on January 1, 2018 and did not delay the implementation of the mortality tables because the update was mandated...more

Employee Benefits Developments - September 2017

by Hodgson Russ LLP on

Arbitration Clause in Employee Handbook Requires Participant to Arbitrate Fiduciary Breach Claims Against Investment Advisor - Cooper v. Ruane Cunniff & Goldfarb Inc. (S.D.N.Y. 2017) - In a major victory for an...more

Troubling Court Decision Sends Withdrawal Liability Warning To Employers

by Fisher Phillips on

A federal appeals court has handed multiemployer pension plans a blank check to assess increased withdrawal liability against employers exiting a plan. The 11th Circuit Court of Appeals’ recent decision in Westrock RKT...more

Shoring up the PBGC’s Insurance Program for Multiemployer Plans

by Thompson Coburn LLP on

The Pension Benefit Guaranty Corporation (PBGC) provides insurance for benefits provided under two types of private sector defined benefit plans; single employer plans and collectively bargained plans that are maintained by...more

Employee Benefits Developments - June 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of June, 2017. Click through the links below for more information on each specific development or case....more

A New Obligation Imposed on Employers Contributing to Multiemployer Plans

Lawyers with clients that deal with multiemployer plans thought we knew what plans could require withdrawing employers to pay. After all, the employer’s potential liability – commonly known as “withdrawal liability” – is...more

Advisors Advantage - June 2017

by Ary Rosenbaum on

We Didn't Start The 401(k) Fire; It's Always Been Burning. The problems have always been there. I live in Long Island, so I think by a local law, I have to be a Billy Joel fan. He's not up there with Aerosmith, The...more

FAQ: Recent Developments in US Law Affecting Pension and OPEB Claims in Restructurings (2017)

by Latham & Watkins LLP on

From theory to practice, planning to enforcement, the answers to 42 of the most frequently asked questions can help you prepare, cope or respond to a restructuring. This Client Alert answers some of the most frequently asked...more

The First Dinosaur Has Died

by Jackson Lewis P.C. on

The New York Teamsters Road Carriers Local 707 Pension Fund (the “Local 707 Pension Fund”) is dead, reportedly having run out of money in early March 2017. The Pension Benefit Guaranty Corporation (“PBGC”) the federal...more

Pensions Alert: Green Paper on Defined Benefit Schemes

by DLA Piper on

Last week the DWP published its much-anticipated Green Paper on security and sustainability in Defined Benefit (DB) pension schemes (Paper) which considers various issues and ideas about the regulation of private sector DB...more

Multiemployer Pension Plans: Section 1405 – Limitation on Withdrawal Liability

by FordHarrison on

In a recent decision involving a withdrawal liability assessment by a multiemployer pension plan, an arbitrator reduced the assessment by approximately 50 percent and ruled in favor of the employer on several significant...more

Structuring Private Equity Deals in 2017: Considerations for Buyers While They Wait for the Sun Capital Appeals to Play Out

by McDermott Will & Emery on

Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund has been analyzed extensively over the past four years, as it has made its way from the US District Court for the District of...more

PBGC Sticks Its Head Out Of The Water And Issues RFI Regarding Hybrid (Two-Pool) Multiemployer Pension Plans

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The PBGC is seeking more information on hybrid or two-pool withdrawal liability calculation methods. This is a sign that the PBGC may be re-evaluating its role in approving hybrid proposals, although it...more

Litigation Alert: Leasing Property Isn’t “Automatic” Trade or Business for PBGC Liability; Asset Purchasers Generally Not Liable...

by Reed Smith on

When a single-employer defined benefit plan is terminated with insufficient assets to pay its benefit obligations, the plan sponsor and members of the sponsor’s controlled group are held jointly and severally liable to the...more

Seventh Circuit Finds Requirement to Contribute to Fringe Benefits Funds Can Extend Past Decertification

On December 20, 2016, the Seventh Circuit issued an opinion holding that multiemployer benefit funds were entitled to collect contributions required under collective bargaining agreements that were not to expire until 2015,...more

Surprise!: Decertification Does Not End Employer Contribution Obligations to the Multiemployer Funds

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Seventh Circuit finds employer still obligated to contribute to benefit funds for the life of the CBA even though the employees decertified the union. Employers often assume that when their...more

More Ways to be Tagged with Withdrawal Liability

I have written a number of posts, on employers and business owners who have been held responsible for the multiemployer plan withdrawal liability of a different employer. In some cases, the liability comes from common...more

Could your Oil and Gas Interest Cause You to Be Responsible for Multiemployer Plan Withdrawal Liability?

I noticed an interesting case from the Tenth Circuit which found that a two to three percent working interest in an oil and gas venture could generate self-employment income for the owner of that interest. The individual in...more

A Trump Presidency: Potential Impact on Employee Benefits Law and Policy

by Franczek Radelet P.C. on

For many months, we have been speculating about how the results of the 2016 presidential election would impact employee benefits policy going forward. Now that Donald Trump has won the election and Republicans have secured a...more

DOL Issues Final Rule Implementing Paid Sick Leave for Federal Contractors

by Littler on

On September 29, 2016, the U.S. Department of Labor (DOL) issued its long-awaited final rule to implement Executive Order 13706, which requires covered federal contractors to provide employees with up to seven days (56 hours)...more

Criminal Liability for Failure to Contribute to Multiemployer Benefit Fund?

by Jackson Lewis P.C. on

The precarious financial status of some multiemployer benefit funds has led to criminal indictment against non-contributors. This troubling expansion of potential sanctions for failure to make required contributions to...more

Teamsters’ Central States Pension Plan: A Saga Becomes a Nightmare?

Created in 1955, the CSPP remains one of the largest and oldest multiemployer pension plans in the United States, funding the pensions of 400,000 active and retired Teamsters. Shockingly, with the decline in the unionized...more

[Webinar] Is That My Employee? Multi-Employer, Joint-Employer, Independent Contractors and Temp Workers - August 16th, 1:00pm EDT

by Conn Maciel Carey LLP on

Employers’ perceptions about their legal responsibilities for certain workers is not always reality. Although an employer may classify workers as temporary workers or independent contractors, that does not mean the...more

Taking on the Retirement Gap: Bipartisan Interest Grows in Open MEPs

by K&L Gates LLP on

As the U.S. continues to grapple with the retirement preparedness gap, policymakers on both sides of the aisle are increasingly focused on facilitating access to retirement plans. In the last few years, policy proposals...more

Department of Labor Increases Penalties for Certain ERISA Violations

by Holland & Knight LLP on

The U.S. Department of Labor (DOL) published on July 1, 2016, an interim final rule adjusting the civil monetary penalties that it can enforce. These adjustments are the result of the Federal Civil Penalties Inflation...more

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