News & Analysis as of

Pensions

A Safe Withdrawal Rate in Retirement

A recent program presented by the Probate and Trust Law Section of the Philadelphia Bar Association offered suggestions on a safe withdrawal rate from accumulated assets during retirement. After much analysis, the author...more

Pension Scheme Trustees - Are You Ready for the GDPR?

by DLA Piper on

There is now less than a month to go until the General Data Protection Regulation (GDPR) comes into force on 25 May 2018 introducing significant changes to data protection law. As data controllers of scheme members' personal...more

The Unintended Consequence Of Rising Interest Rates: Overfunded Defined Benefit Plans

by Fox Rothschild LLP on

While many in the employee benefits community have sounded the death knell for defined benefit plans in recent years, there is some mounting evidence that their prediction has been premature. While corporate America has...more

Legislative Developments in Spain Fourth Quarter 2017

by DLA Piper on

We take a look at recent legislative developments in Spain and across EMEA. Please see full Publication below for more information....more

Pensions Ombudsman Round Up April 2018

by DLA Piper on

Welcome to the latest edition of DLA Piper's Pensions Ombudsman Round-Up newsletter in which we report on determinations made by the Pensions Ombudsman and Deputy Pensions Ombudsman. The issues considered by cases covered in...more

Orrick's Financial Industry Week In Review

ESMA Asks European Commission to Clarify Scope of Exemptions from EMIR Financial Obligations - On April 27, 2018, the European Securities and Markets Authority ("ESMA") published a letter from Steven Maijoor, ESMA Chair,...more

The Just Born Case: Responding to the Multiemployer Pension Crisis

by McGuireWoods LLP on

In Bakery and Confectionery Union Fund v. Just Born II, Inc., the 4th U.S. Circuit Court of Appeals on April 26, 2018, affirmed the district court’s judgment requiring Just Born to pay delinquent contributions into the Bakery...more

Council of EU Presidency Compromise Proposal on PEPP Regulation

On April 23, 2018, the Council of the EU published a compromise proposal (8098/18), on the proposed Regulation on a pan-European personal pension product (“PEPP“) (2017/0143 (COD)) (PEPP Regulation). The European...more

Pensions Superfund - an answer to the rundown of the defined benefit sector

by Dentons on

As some readers may be aware pension schemes offering a guaranteed income in retirement are not a popular sell and haven't been for fifteen years or more. In fact a fair proportion of the collective intelligence of the...more

PPA Trumps Just Born’s NLRA Right To Unilaterally Implement Pension Proposal

by Seyfarth Shaw LLP on

Seyfarth Synopsis: While an employer can bargain to impasse and exit a critical status multiemployer pension fund, under the Pension Protection Act it cannot bargain to impasse and implement a proposal that would have it...more

Key government proposals emerge from select committee hearing on Carillion collapse

by DLA Piper on

The Government has faced significant parliamentary and public pressure to make policy changes to demonstrate that lessons have been learnt and action taken since the collapse of Carillion....more

The Saga Resumes: The Bakery & Confectionery International Pension Fund Again Announces a Two Pool Proposal

by Polsinelli on

As we reported previously, the Bakery & Confectionery Union and Industry International Pension Fund (B&C Fund) has been underfunded for years, with actuaries estimating that the B&C Fund will become insolvent by January 2030....more

Pension Alert - April 2018

by Hogan Lovells on

Hogan Lovells pension group is delighted to send you our April e-newsletter. Featured is action needed by data controllers to pay a data protection fee once the General Data Protection Regulation comes into force on 25 May...more

Corporate Insurance Newsletter – March 2018

by Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for March has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. Please see...more

Ontario Files Regulations in Support of Pension Plan Administrator Discharge Upon Annuity Purchase

The Ontario government recently filed O. Reg. 193/18, Purchase of Pension Benefits From an Insurance Company – Section 43.1 of the Act (Regulation) under the Pension Benefits Act (PBA). The Regulation supports the provision...more

The Italian Budget 2018 and changes to employment & social security provisions

Italian law no. 205/2017 was published in the Italian Official Journal on 29 December 2017 and entered into force on 1 January 2018, providing the 2018 Budget and introducing substantial changes covering also employment and...more

Pensions in Dispute February 2018

by Allen & Overy LLP on

Welcome to our quarterly pensions litigation briefing, designed to help pensions managers identify key risks in scheme administration, and trustees update their knowledge and understanding. This briefing highlights recent...more

Alberta Announces Temporary Solvency Funding Relief for Defined Benefit Pension Plans

The Alberta Superintendent of Pensions (Superintendent) recently announced long-anticipated measures providing potential funding relief to sponsors of Alberta-registered defined benefit plans. In September 2017, the...more

Court Declines to Allow Defendants in Fraud Scheme to Utilize 28 U.S.C. § 2255 or Writ of Coram Nobis to Challenge Order of...

In United States v. Rutigliano, No. 16-3754 et al., the Second Circuit (Jacobs, Raggi, Droney) refused to endorse the reduction of a restitution order against defendants who had conspired to submit fraudulent disability...more

No Stone Unturned: Locating Missing Participants under the PBGC’s Expanded Program for Terminated Plans

by McDermott Will & Emery on

The PBGC’s missing participants program, which previously applied only to single-employer defined benefit pension plans, has been expanded to defined contribution plans, multiemployer defined benefit plans and small...more

2018 Ontario Budget: Registered Pension Plan Issues

On March 28, 2018, the Ontario government tabled its 2018 budget (Budget), which included a number of registered pension plan related provisions. On that same day, the government introduced Bill 31, Plan for Care and...more

Employers Are Not ERISA Fiduciaries For Unpaid Multi-Employer Plan Contributions

by McGuireWoods LLP on

The 9th U.S. Circuit Court of Appeals recently affirmed the dismissal of an action brought by several multi-employer funds against owners and officers of a Nevada glass and glazing corporation in Glazing Health & Welfare Fund...more

Calculating Withdrawal Liability With ‘Segal Blend’ Violated Multiemployer Pension Plan Amendments Act, Judge Rules

by Jackson Lewis P.C. on

In a decision that could have far-reaching implications for multiemployer pension plans and employers, a federal district court has held that the use of the “Segal Blend” to calculate a company’s withdrawal liability when it...more

Multiemployer Pension Plans: Potential Successor Liability From Buyer’s Attempts To Continue Seller’s Business

by Jackson Lewis P.C. on

The district court erred in finding a multiemployer pension plan did not show sufficient continuity of business operations to support imposing successor liability on an asset purchaser, the federal appeals court in Chicago...more

Seventh Circuit Rejects “Big Buyer” Defense to Successor Liability

For a multiemployer pension fund to hold an asset purchaser liable for withdrawal liability as a successor-in-interest, the fund must establish that the purchaser was (i) on notice of the seller’s withdrawal liability, and...more

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