News & Analysis as of

Pensions Insolvency Multiemployer Plan

Jackson Lewis P.C.

Will American Rescue Plan Act Multiemployer Pension Provisions Bring Relief To Employers?

Jackson Lewis P.C. on

The American Rescue Plan Act of 2021 includes a modified version of the Butch Lewis Act, referred to as the Emergency Pension Plan Relief Act of 2021 (EPPRA), which restores to financial health more than 100 failing...more

Littler

The Emergency Pension Plan Relief Act Proposes a Bailout of Struggling Multiemployer Pension Plans

Littler on

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

Groom Law Group, Chartered

Senate Republicans Release Proposal for Multiemployer Pension Reform

On November 20, Republican Senators Charles Grassley and Lamar Alexander – chairmen of the committees with jurisdiction over pensions – jointly released the Multiemployer Pension Recapitalization and Reformation Plan (the...more

McDermott Will & Emery

PBGC’s Multiemployer Insurance Program Faces Insolvency, While Single-Employer Program Improves

McDermott Will & Emery on

The Pension Benefit Guaranty Corporation’s Multiemployer Insurance Program is close to collapse, while its Single-Employer Insurance Program continues to improve. We discuss implications and predictions for both programs over...more

Perkins Coie

Multiemployer Pension Underfunding: How to Protect Your Company

Perkins Coie on

As a result of a declining union workforce, bankruptcies of employers contributing to multiemployer pension plans (MEPPs), and tax rules that prevented MEPPs from developing sufficient reserves, many MEPPs have become...more

Fisher Phillips

Troubling Court Decision Sends Withdrawal Liability Warning To Employers

Fisher Phillips on

A federal appeals court has handed multiemployer pension plans a blank check to assess increased withdrawal liability against employers exiting a plan. The 11th Circuit Court of Appeals’ recent decision in Westrock RKT...more

Franczek P.C.

Treasury Department Rejects Central States Pension Fund's Benefit Reduction Proposal

Franczek P.C. on

As we discussed in a prior alert, in September 2015 the Teamsters’ Central States Pension Fund submitted a proposed “rescue plan” to the U.S. Department of Treasury (Treasury). The Central States Pension Fund is severely...more

Franczek P.C.

Guidance Prompts Changes to PBGC Reportable Event Rules and Electronic Filing Requirements for Multiemployer Plans

Franczek P.C. on

The Pension Benefit Guaranty Corporation (PBGC) recently issued two important pieces of guidance that change certain of the PBGC’s notice requirements for both single-employer and multiemployer pension plans....more

Polsinelli

Update: Multiemployer Pension Plans volume 2

Polsinelli on

In This Issue: - Recent Developments for Multiemployer Pension Plans - Q & A - More Polsinelli MPRA Intelligence - MPRA Counseling Services - Excerpt from Recent Developments for...more

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