Multiemployer Pension Plans in Mergers and Acquisitions — Troutman Pepper Podcast
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
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
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
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
The 2023 Form 5500, which will be filed beginning in mid-2024, includes the following changes...more
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
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
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
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
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
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
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
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
As companies of all types and sizes continue to deal with the potential legal implications of the COVID-19 pandemic for their businesses, Jackson Walker provides insights and resources on the COVID-19 Legal Resources &...more
I – Overview of the Butch Lewis Emergency Pension Plan Relief Act- The much-heralded Butch Lewis Emergency Pension Plan Relief Act of 2021 (the “Butch Lewis Act of 2021”) is closer to becoming a reality as part of the...more
On Friday January 8, the Pension Benefit Guaranty Corporation (PBGC) published a final rule that provides multiemployer pension plans with additional methods to help calculate employer withdrawal liability. The rule includes...more
Approximately a quarter of the workforce covered by a traditional pension plan is in a multiemployer plan, according to the U.S. Bureau of Labor Statistics. Many manufacturers that participate in such plans are unaware their...more
On June 18, 2020, the US Department of Labor (DOL) published a request for information (RFI), in advance of its potential proposal of a class exemption (PTE) providing relief for ERISA prohibited transactions arising in the...more
The effect of the coronavirus (COVID-19) on businesses and individuals is unprecedented and staggering. Many employers have or soon will be forced to implement some type of COVID-19-related workforce reduction, which can have...more
The U.S. Court of Appeals for the First Circuit has held in Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund that two Sun Capital Funds were not under common control with Scott Brass...more
The world of benefits regulation has seen significant change lately, with the enactment of tax reform in 2017 (see “Focus on ERISA - Tax Reform Includes Benefits and Compensation Provisions”), and the rise and fall of the...more
Recently, the Department of Labor (DOL) published final rules clarifying the circumstances under which “bona fide” groups or associations of employers and professional employer organizations (PEOs) may be permitted to sponsor...more
Private equity fund sponsors can breathe a sigh of relief last week as the First Circuit Court of Appeals, reversing a district court finding, held that two separate private equity funds sharing a general partner (Sun Capital...more
The Segal Group is the premier actuarial firm in the country providing services for hundreds of multi-employer pension funds. For almost 40 years it has used its own methodology, known as the “Segal Blend” to calculate...more
On July 29, 2019, the United States Department of Labor (DOL) issued a Final Rule on Association Retirement Plans (ARPs) (the Final Rule), defining how an employer, association, or professional employer organization (PEO) can...more