Seyfarth Synopsis: Another court has found that actuaries who set discount rates for withdrawal liability purposes that are not based upon their “best estimate of anticipated experience” for investments under the plan—in...more
Seyfarth Synopsis: On October 14, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) published its proposed rule under ERISA Section 4213 (the “Proposed Rule”), which sets forth for the first time the agency’s guidance...more
Seyfarth Synopsis: Contributing employers to multiemployer pension plans have seen some big developments in July. The PBGC released its new Final Rule on Special Financial Assistance on July 8, 2022, which will help...more
Seyfarth Synopsis: In these uncertain economic times, temporary furloughs and longer-term layoffs have become the norm. One concern expressed by numerous unionized employers contributing to multiemployer pension plans is...more
The Ninth Circuit, in Resilient Floor Covering Pension Trust Fund Board of Trustees v. Michael’s Floor Covering, Inc., Case No. 12-17675 (9th Cir. Sept. 11, 2015), joined the Seventh Circuit in finding that an asset...more
10/6/2015
/ Asset Purchaser ,
Collective Bargaining ,
Collective Bargaining Agreements (CBA) ,
Corporate Counsel ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Multiemployer Pension Plan Amendments Act (MPPAA) ,
Pension Funds ,
Pension Plan Amendments ,
Pensions ,
Successor Liability ,
Withdrawal Liability
Many asset buyers believe that, as long as they do not agree to ERISA Section 4204’s sale of assets exception to withdrawal liability, they will acquire the seller’s assets free and clear of any prior contribution history and...more
8/8/2015
/ Asset Purchaser ,
Buyers ,
Corporate Counsel ,
Employee Retirement Income Security Act (ERISA) ,
Multiemployer Plan ,
Pension Funds ,
Sale of Assets ,
Sellers ,
Successor Liability ,
Withdrawal ,
Withdrawal Liability