News & Analysis as of

Pensions Appropriations Bill

Sherman & Howard L.L.C.

Gov. Christie’s Cuts in N.J.’s Mandatory Public Pension Funding Found to be Legal

A recent study estimated that state public pension plans are underfunded by $4.7 trillion (yes, that’s a “T”). Ten states have plans in which less than 30-percent of benefit obligations are funded, and only three states have...more

K&L Gates LLP

Court Strikes New Jersey Pension Funding Agreement

K&L Gates LLP on

The national spotlight on public pension plans shifted to the state of New Jersey last month. After decisions in Oregon and Illinois (see K&L Gates Client Alerts: Changing the Rules in the Middle of the Game and Illinois...more

Proskauer Rose LLP

Significant Multiemployer and Single Employer Benefit Rule Changes Take Effect

Proskauer Rose LLP on

On December 16, 2014, President Obama signed into law the $1.1 trillion Consolidated and Further Continuing Appropriations Act of 2015 (Appropriations Act), which includes some significant changes to the rules governing...more

Franczek P.C.

Monthly Benefits Update - December 2014

Franczek P.C. on

Illinois Becomes the First State to Require Automatic Retirement Savings Program for Workers Without Access to a Workplace Retirement Plan - On January 5, 2015, outgoing Governor Quinn signed landmark legislation that...more

Baker Donelson

Congress Makes It Possible to Reduce Some Union Pensions

Baker Donelson on

As a part of the Consolidated and Further Continuing Appropriations Act, 2015, passed by Congress and signed by the President on December 18, 2014, the 161-page "Multiemployer Pension Reform Act of 2014" (Act) gives the...more

McGuireWoods LLP

“Cromnibus Act” Changes for Multiemployer and Single-Employer Defined Benefit Pension Plans

McGuireWoods LLP on

The Consolidated and Further Continuing Appropriations Act, 2015 (the so-called “Cromnibus Act”), enacted into law last week, is not just a $1.1 trillion spending bill that keeps most of the federal government open through...more

Morgan Lewis

President Obama Signs the Multiemployer Pension Reform Act of 2014

Morgan Lewis on

New legislation is enacted to assist and fortify deeply troubled multiemployer pension plans. On December 16, U.S. President Barack Obama signed into law sweeping changes to the current law that governs multiemployer...more

Littler

"CRomnibus" Spending Bill Makes Significant Changes to Law Governing Multiemployer Pension Plans

Littler on

The Multiemployer Pension Reform Act of 2014, part of the trillion-dollar government funding legislation (the so-called "CRomnibus" bill) approved by the House of Representatives on December 11, the Senate on December 13,...more

Ballard Spahr LLP

Congress Passes Highway Funding Bill; Includes Pension Funding Relief

Ballard Spahr LLP on

Last week, Congress gave final approval to a $10.8 billion bill that will keep federal highway funds flowing to states through the busy summer construction season. While this short-term “patch” offers some relief, it is now...more

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