A hotly debated (and litigated) issue for multiemployer pension plans in recent years has been the appropriate interest rate to determine a multiemployer pension plan’s liabilities when calculating the plan’s underfunding for...more
The American Rescue Plan Act of 2021 created a significant new special financial assistance program administered by the Pension Benefit Guaranty Corporation for certain troubled multiemployer pension plans. Shortly after...more
On July 8, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) published its much anticipated final rule on the special financial assistance (“SFA”) available to certain troubled multiemployer plans under the American...more
As we previously reported, on July 9, 2021, the PBGC issued an interim final rule pursuant to the American Rescue Plan Act of 2021 (“ARP”) explaining how it intends to calculate the special financial assistance for...more
This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer...more
This episode of The Proskauer Benefits Brief is the first of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer...more
As we previously reported, the American Rescue Plan Act of 2021 (“ARPA”) created a special financial assistance program that is administered by the Pension Benefit Guaranty Corporation (“PBGC”) and intended to extend the...more
7/16/2021
/ American Rescue Plan Act of 2021 ,
Corporate Counsel ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Interim Final Rules (IFR) ,
Multiemployer Plan ,
New Guidance ,
PBGC ,
Pension Reform ,
Pensions ,
Retirement Plan ,
Withdrawal Liability
Today, the House of Representatives passed the $1.9 trillion American Rescue Plan Act of 2021 (the “ARPA”). The ARPA has already been approved by the Senate and is expected to be quickly signed into law by President Biden....more
On February 6, 2019, the Pension Benefit Guaranty Corporation ("PBGC") issued a proposed rule that impacts how multiemployer pension plans in endangered or critical status calculate withdrawal liability. The rule is not yet...more
Editor's Overview -
This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more
4/27/2016
/ 401k ,
Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Best Interest Standard ,
Closely Held Businesses ,
Collective Bargaining Agreements (CBA) ,
Conflicts of Interest ,
Controlled Groups ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
FIfth Third Bancorp v Dudenhoeffer ,
Final Rules ,
Forum Selection ,
Gobeille v Liberty Mutual Insurance Com. ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
M&G Polymers v Tackett ,
Multiemployer Plan ,
Participant-Directed Plans ,
Partnership-in-Fact ,
PBGC ,
Preemption ,
PTEs ,
Reporting Requirements ,
Retirement Plan ,
SCOTUS ,
Stock Drop Litigation ,
Sun Capital Partners ,
UAW ,
Vesting ,
Withdrawal Liability
Editor's Overview -
In this month's newsletter, we focus on the recent wave of guidance and case law related to the Affordable Care Act. We also discuss IRS Notice 2015-86, which provides guidance on the application of...more
1/4/2016
/ Affordable Care Act ,
Attorney's Fees ,
Automatic Enrollment ,
Burwell v Hobby Lobby ,
Cadillac Tax ,
Contraceptive Coverage Mandate ,
Department of Labor (DOL) ,
Disability Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Good Faith ,
Health and Welfare Plans ,
HRA ,
IRS ,
Mental Health Parity Rule ,
Obergefell v. Hodges ,
PBGC ,
Preventive Health Care ,
Qualified Retirement Plans ,
SCOTUS ,
US v Windsor ,
Wellness Programs
Editor's Overview -
As the summer draws to a close, this month's Newsletter previews three cases that the U.S. Supreme Court already has agreed to hear that ought to be of particular interest to ERISA plan sponsors and...more
8/28/2015
/ 401k ,
Actual Injuries ,
Affordable Care Act ,
Article III ,
Benefit Plan Sponsors ,
COBRA ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Delta Airlines ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Duty to Disclose ,
Employee Retirement Income Security Act (ERISA) ,
Equitable Relief ,
Fair Credit Reporting Act (FCRA) ,
Fiduciary Duty ,
FIfth Third Bancorp v Dudenhoeffer ,
Final Rules ,
HDHP ,
Health Insurance ,
Health Plan Sponsors ,
HSA ,
IRS ,
Medicaid ,
Medicare ,
Montanile v Board of Trustees ,
Non-Grandfathered Health Plans ,
PBGC ,
Penalties ,
Preemption ,
Reimbursements ,
Reporting Requirements ,
SCOTUS ,
Section 510 ,
Spokeo v Robins ,
Standing ,
Stock Drop Litigation ,
Subrogation ,
Summary of Benefits and Coverage ,
Tax Credits ,
Trade Adjustment Assistance ,
Trade Preferences Extension Act (TPEA) ,
U.S. Treasury
On December 16, 2014, President Obama signed into law the $1.1 trillion Consolidated and Further Continuing Appropriations Act of 2015 (Appropriations Act), which includes some significant changes to the rules governing...more
1/28/2015
/ Appropriations Bill ,
CBAs ,
Collective Bargaining ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Multiemployer Plan ,
New Legislation ,
PBGC ,
Pensions ,
Unions