News & Analysis as of

Multi-Employer Pensions

Littler

Third Circuit Holds Multiemployer Pension Fund Claim Cannot Be Enforced due to Unreasonable Delay in Providing Notice of...

Littler on

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

Tucker Arensberg, P.C.

Case Alert: Court Holds that “There is No Third Element for ERISA Successor Liability.”

Tucker Arensberg, P.C. on

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

Troutman Pepper

Multiemployer Pension Plans in Mergers and Acquisitions — Troutman Pepper Podcast

Troutman Pepper on

In this insightful episode of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, attorneys Paul Porretta and Christopher Stock delve into the complex world of...more

Holland & Knight LLP

Plaintiffs Request Court Approval of $8.7M Settlement in ERISA Class Action Cyberattack Lawsuit

Holland & Knight LLP on

Multi-employer plan participants involved in an Employee Retirement Income Security Act of 1974 (ERISA) class action lawsuit against Horizon Actuarial Services LLC (Horizon), a national retirement services firm, have entered...more

Jackson Lewis P.C.

You Can Be Personally Liable For Withdrawal Liability Despite A Company’s Limited Liability Status

Jackson Lewis P.C. on

Unionized employers participating in an underfunded multiemployer pension plan face significant financial exposure when withdrawing (completely or partially) from the plan. The cost (called “withdrawal liability”) is...more

Jackson Lewis P.C.

Ads Related to Health Plan Fees Raise Questions on the Next Excessive Fee Suit Targets

Jackson Lewis P.C. on

Is a new wave of ERISA fiduciary litigation targeting group health plan sponsors on the horizon? There have already been a few examples of health plan fee cases, such as claims challenging the billing practice between...more

Groom Law Group, Chartered

DOL Issues Field Assistance Bulletin on Annual Funding Notices for Multiemployer Plans That Receive Special Financial Assistance

On April 25, 2023 the Department of Labor (“DOL”) published Field Assistance Bulletin 2023-01 (the “FAB”), which provides guidance to multiemployer pension plans that receive Special Financial Assistance (“SFA”) regarding the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

2023 Form 5500 changes announced

The 2023 Form 5500, which will be filed beginning in mid-2024, includes the following changes...more

Bennett Jones LLP

Ontario Initiates Consultation on Permanent Framework for Target Benefit Pension Plans

Bennett Jones LLP on

As promised in the 2022 Budget, the Ontario Ministry of Finance has launched consultations on proposed regulations for Ontario’s Pension Benefits Act (PBA) to implement a permanent target benefit framework for pension plans...more

Cozen O'Connor

SECURE ACT 2.0: Wow, What a Difference an Act Makes!

Cozen O'Connor on

The Consolidated Appropriations Act of 2023 was signed into law on December 29, 2022, and has ushered in one of the most significant pieces of retirement plan legislation in recent memory. SECURE Act 2.0 (SECURE 2.0) contains...more

Faegre Drinker Biddle & Reath LLP

Multiemployer Pension Plan Alert: Evergreen Clauses May Trump the Bargaining Parties’ Subsequent Agreement

The U.S. Court of Appeals for the Seventh Circuit recently ruled that Central States, Southeast and Southwest Areas Pension Fund may continue its lawsuit against Transervice Logistics, Inc. and Zenith Logistics, Inc. seeking...more

Morgan Lewis - ML Benefits

Multiemployer Pension Plans Seeking Special Financial Assistance Can Now Request Relief from Withdrawal Liability Conditions

The Pension Benefit Guaranty Corporation (PBGC) is now allowing multiemployer pension plans that are applying for special financial assistance (SFA) to request relief from the standard withdrawal liability calculation...more

Littler

D.C. Circuit Holds Withdrawal Liability Interest Rate Must Reflect Plan’s Investment Policy

Littler on

On Friday, July 8, 2022, the U.S. Court of Appeals for the D.C. Circuit issued its decision in United Mine Workers of America 1974 Pension Plan v. Energy West Mining Company, joining the Sixth Circuit in holding that the...more

Morgan Lewis

Digesting the New Proposed Exception to the ‘One-Bad-Apple Rule’ for MEPs and PEPs

Morgan Lewis on

In late March 2022, the US Internal Revenue Service withdrew regulations proposed in 2019 and issued new proposed regulations under sections 413(c) and (e) of the Internal Revenue Code, which provide for an exception to...more

Jackson Lewis P.C.

Don’t White-Knuckle Withdrawal Liability

Jackson Lewis P.C. on

It’s no secret that the statutory deck under ERISA is stacked heavily in favor of multiemployer pension plans (MEPPs) and against employers contributing to (or withdrawing from) Taft-Hartley trust funds....more

Jackson Lewis P.C.

Plan Terms and Tax Rules: What Does “Retire” Mean To Qualify for Retirement Benefits?

Jackson Lewis P.C. on

In Metzgar v. U.A. Plumbers & Steamfitters Local No. 22 Pension Fund, 2022 U.S. App. LEXIS 5466 (2d Cir. Mar. 2, 2022), the Second Circuit in a summary order affirmed the district court’s decision granting summary judgment in...more

Jackson Lewis P.C.

Understanding the Multiemployer Pension Plan Construction Industry Exemption

Jackson Lewis P.C. on

The Multiemployer Pension Plan Amendments Act (MPPAA), the Employee Retirement Income Security Act’s (ERISA) progeny, can create significant unexpected liabilities for companies that have agreed to collective bargaining...more

Morgan Lewis - ML Benefits

VAPPs in Vogue: Increased Flexibility Breathes Life into a Longstanding Multiemployer Pension Plan Design

Although variable annuity pension plan (VAPP) designs have been permissible for decades, they have not yet seen widespread adoption—particularly in the Taft-Hartley multiemployer plan space. This post provides a brief...more

Jackson Lewis P.C.

‘Segal Blend’ Withdrawal Liability Calculation Violates ERISA, Court Holds in Milestone Decision

Jackson Lewis P.C. on

The use of the “Segal Blend” to calculate a company’s withdrawal liability when it withdrew from a multiemployer pension plan violated the Employee Retirement Income Security Act (ERISA), as amended by the Multiemployer...more

Jackson Lewis P.C.

Third Circuit Upholds Withdrawal Liability Arbitral Award Under MPPAA’s Evade Or Avoid Provision

Jackson Lewis P.C. on

Under the provisions of the Employee Retirement Income Security Act (“ERISA”) as modified by the Multiemployer Pension Plan Amendments Act of 1980 (“MPPAA”), an employer who withdraws from a multiemployer pension plan is...more

Proskauer - Employee Benefits & Executive...

[Podcast]: Special Financial Assistance for Multi-employer Pension Plans (Part 2)

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

Proskauer - Employee Benefits & Executive...

[Podcast]: Special Financial Assistance for Multiemployer Pension Plans (Part 1)

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

Roetzel & Andress

Stay In Or Get Out? Employers Should Evaluate Their Options Under The PBGC’s New Withdrawal Liability Guidance

Roetzel & Andress on

For employers who contribute to financially-troubled multiemployer pension plans (multiemployer plans), a lot has changed in the last six months. In March, Congress passed the American Rescue Plan Act of 2021 (ARP) which...more

Jackson Lewis P.C.

Multiemployer Pension Plan Reform/Bailout May Be Greater Than Expected; Guidance Still Forthcoming

Jackson Lewis P.C. on

The Emergency Pension Plan Relief Act of 2021 (EPPRA), enacted as part of the American Rescue Plan Act of 2021 (ARPA), contained unprecedented financial relief for the most troubled multiemployer pension plans (MEPPs). The...more

Smith Debnam Narron Drake Saintsing & Myers,...

Never Fear, The American Rescue Plan Is Here

The Biden administration has hit the ground running with several items on its agenda which impact the employment relationship. On March 12, the American Rescue Plan was passed by Congress and signed into law. This new law...more

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