In July, the Third Circuit upheld a District of New Jersey decision to throw out a withdrawal liability assessment, finding the multiemployer pension fund was barred from pursuing its claim because the fund unreasonably...more
On March 29, 2024, the U.S. District Court for the Northern District of Illinois issued its decision in Central States, Southeast and Southwest Areas Pension Fund v. Event Media, Inc. In a matter of first impression for...more
On October 14, 2022, the Pension Benefit Guaranty Corporation (PBGC), the federal agency that insures and regulates private-sector defined benefit pension plans under Title IV of the Employee Retirement Income Security Act of...more
10/17/2022
/ Comment Period ,
Defined Benefit Plans ,
Employee Benefits ,
PBGC ,
Pension Reform ,
Pensions ,
Proposed Rules ,
Public Comment ,
Regulatory Agenda ,
Retirement Plan ,
Withdrawal Liability
On July 7, 2022, the Pension Benefit Guaranty Corporation (PBGC), the independent federal corporation that insures private-sector defined benefit plans under Title IV of the Employee Retirement Income Security Act of 1974...more
On January 27, 2022, in New York State Teamsters Conference Pension and Retirement Fund v. C&S Wholesale Grocers, Inc., the Second Circuit joined the Third, Seventh, and Ninth Circuits in applying the doctrine of successor...more
2/8/2022
/ Acquisition Agreements ,
Asset Purchaser ,
Compensation & Benefits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Grocery Store Workers ,
Pensions ,
Retirement Plan ,
Successor Liability ,
Teamsters ,
Unions ,
Withdrawal Liability
On July 9, 2021, the Pension Benefit Guaranty Corporation issued its interim final rule implementing the Special Financial Assistance (SFA) program passed in March 2021 as part of President Biden’s American Rescue Plan Act of...more
The U.S. Supreme Court declined to review the Second Circuit’s decision in Laurent v. PricewaterhouseCoopers LLP, which held that retirees could receive money damages in the form of recalculated benefits in a class action...more
On March 11, 2021, President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021, which includes the Butch Lewis Emergency Pension Plan Relief Act of 2021....more
Without congressional intervention, about 100 multiemployer pension plans are expected to become insolvent in the next 20 years, and some much sooner. In other words, for these pension plans, their liabilities to retired...more
House Education and Labor Chairman Bobby Scott (D-VA) recently introduced legislation that seeks to rescue multiemployer pension plans (MEPs) facing insolvency. Entitled the Emergency Pension Plan Relief Act (EPPRA), the bill...more
On January 8, 2021, the Pension Benefit Guaranty Corporation (PBGC) issued its final rule modifying the calculation of withdrawal liability by multiemployer pension plans....more
In Bauwnes v. Revcon Technology Group, Inc., the U.S. Court of Appeals for the Seventh Circuit held that the trustees of a multiemployer pension plan could not agree to an employer’s installment payment plan of its withdrawal...more
The Pension Benefit Guaranty Corporation (PBGC) recently proposed amendments to the regulations that govern how multiemployer plans calculate withdrawal liability. The PBGC has invited comment on these proposed regulations...more