Successor liability is a powerful collection tool for multiemployer plans under ERISA. It most commonly arises in the context of asset sales (although it is not limited to that situation)....more
In a major win for the Steelworkers Pension Trust (SPT), the U.S. Court of Appeals for the Third Circuit upheld an award totaling $96 million in withdrawal liability and additional statutory penalties against the Renco Group,...more
9/2/2021
/ Appeals ,
Arbitration ,
Complex Corporate Transactions ,
Controlled Groups ,
Corporate Counsel ,
Multiemployer Plan ,
Pensions ,
Retirement Plan ,
Statutory Penalties ,
Unions ,
Withdrawal Liability
The Seventh Circuit recently issued an important decision imposing personal liability on individuals for certain debts of their company pursuant to ERISA’s controlled group rules. In Local 705 Int’l Broth. of Teamsters...more
7/12/2021
/ Commercial Leases ,
Employee Retirement Income Security Act (ERISA) ,
ERISA Litigation ,
Joint and Several Liability ,
Passive Investments ,
Pension Funds ,
Personal Liability ,
Real Estate Investments ,
Rebuttable Presumptions ,
Statutory Damages ,
Withdrawal Liability
In recent years, employers have increasingly brought challenges claiming that it is unreasonable for a multi-employer pension plan’s actuary to calculate withdrawal liability using a rate that is lower than the plan’s...more
Bd. of Trs. of Pacific Coast Pension Plan v. Petersen-Dean, Inc., Civ. Action No. 18–6824, 2020 WL 2404613 (N.D. Cal. May 12, 2020) is the latest court decision to reject an employer’s argument in favor of adopting an...more
Under ERISA, withdrawal liability disputes are subject to mandatory arbitration. The parties are tasked with mutually selecting the arbitrator, but if they reach an impasse in the selection process, a federal district court...more
The Tenth Circuit Court of Appeals recently issued a decision that may make it harder for multiemployer pension funds to collect withdrawal liability: GCIU-Employer Retirement Fund v. Coleridge Fine Arts, No. 19-3161, 2020...more