Pensions, Defined Benefit Plans

Federal court imposes personal liability for multiemployer pension plan liabilities

by Paul Kasicky | Saul Ewing LLP on 5/14/2013

A recent case highlights the risk of personal liability for multiemployer and other defined benefit pension plan liabilities. Owners of closely held corporations that contribute to multiemployer or single employer defined...more

De-Risking On Trial? U.S. Verizon Litigation Still Active

by Carol Buckmann | Osler, Hoskin & Harcourt LLP on 4/12/2013

In our March 13 webinar on de-risking defined benefit pension plans, I stated that the U.S. litigation launched by a group of Verizon retirees challenging the annuitization of their pensions was not dead, even though a...more

Court Rewrites Plan to Increase Benefits

by King & Spalding on 3/29/2013

The Supreme Court’s 2011 CIGNA v. Amara decision suggested that an employer’s pension plan could be rewritten to remedy the employer’s failure to fulfill its disclosure obligations under the Employee Retirement Income...more

De-Risking U.S. Pensions Through Lump Sum Offers – What’s on the Front Burner for 2013?

by Carol Buckmann | Osler, Hoskin & Harcourt LLP on 2/27/2013

Does your defined benefit plan have a lump sum option? Nearly forty percent of U.S. employers who sponsor defined benefit pension plans are at least “somewhat likely” to offer lump sums to retirees and vested terminated...more

Court Rules Pension Plan Members Not Entitled to Indexing

by Mark Newton | Heenan Blaikie LLP on 2/27/2013

In a decision released this month, the Saskatchewan Court of Appeal ruled that members of the Saskatchewan public service pension plan are not entitled to indexed pension benefits, beyond what was already provided for in...more

Representations Of Future Tax Treatment To Induce Creation Of Pension Plan Are Not Actionable As A Matter Of Law

by Edwin Oster | Barger & Wolen on 2/18/2013

The California Fourth District Court of Appeal adopted the principle that it is inherently unreasonable for any person to rely on a prediction of future IRS enactment, enforcement, or non-enforcement of the law by someone...more

Indalex: What Are the Pension Implications?

by Lesha Van Der Bij | Osler, Hoskin & Harcourt LLP on 2/13/2013

On February 1, 2013, the Supreme Court of Canada released its much anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers, a case which pitted the claims of pensioners against those of secured creditors in...more

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

by Richard Orzy, Raj Sahni, Kevin Zych | Bennett Jones LLP on 2/13/2013

On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more

Indalex: Supreme Court of Canada Decision Released

by Kenneth Kraft, John Salmas, Sara-Ann Van Allen | Heenan Blaikie LLP on 2/12/2013

The Supreme Court of Canada (“SCC”) recently released its much-anticipated decision in the Indalex Limited (“Indalex”) proceedings under the Companies’ Creditors Arrangement Act (the “CCAA Proceedings”). The decision is...more

Retirement and Pensions Update - Janurary 2, 2013

by David Leiter, Abby Matousek | Mintz Levin - Employment, Labor & Benefits on 1/3/2013

In This Update: Fiscal Cliff Deal Includes Provisions on Charitable Contributions and Roth Roll Overs; PBGC Testifies in Subcommittee Hearing on Multiemployer Plans; IRS Updates Retirement Plan Rules for Hurricane...more

Re Northern Sawmills Inc. – Court Considers Post-Indalex Pension Claims in Receivership

by Ian McSweeney | Osler, Hoskin & Harcourt LLP on 12/19/2012

This is another post-Indalex pension deficit priority case. Due to factual differences from Indalex, however, the pension claims were largely rejected. In the fall of 2008, Northern Sawmills Inc. idled its operations and laid...more

Re Amcor Packaging: Court Corrects Plan Amendment Made in Error

by Anthony Devir | Osler, Hoskin & Harcourt LLP on 12/17/2012

After finding that an erroneous amendment to its pension plan had the unintended effect of increasing benefits payable under the plan to deferred vested members who elected to retire before their normal retirement date, Amcor...more

Pension Plan Restructuring (Part IV) – Plan Amendments

by James Fera | Osler, Hoskin & Harcourt LLP on 12/17/2012

There are other ways to restructure your defined benefit plan to decrease future costs that are typically less drastic than the conversion to defined contribution or plan wind-up options discussed in my previous posts....more

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Pensions › Defined Benefit Plans