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Pensions Pension Funds

Bennett Jones LLP

Ontario Introduces Amendments to Support a Permanent Framework for Target Benefit Pension Plans

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On March 26, 2024, the Ontario government published their 2024 Budget, in which it was announced that draft regulations to Ontario’s Pension Benefits Act (PBA) would be introduced for review in the summer of 2024, with the...more

Littler

Illinois Federal Court Holds that a Pension Rehabilitation Plan Fund Used an Improper High-Contribution Rate in Withdrawal...

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On March 29, 2024, the U.S. District Court for the Northern District of Illinois issued its decision in Central States, Southeast and Southwest Areas Pension Fund v. Event Media, Inc. In a matter of first impression for...more

Bricker Graydon LLP

Pension Risk Transfer Considerations and Recent Litigation - A Case of Imprudent “Passing the Buck” or Sound Risk Management?

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Over the last several years, numerous large pension plan sponsors have transferred billions of dollars in financial risk related to their pension plan benefit obligations to insurance companies through the purchase of group...more

Fisher Phillips

Union Pension Fund Can’t Have It Both Ways: Federal Appeals Court Orders Fund to Repay Employer $2 Million

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In a classic man-bites-dog turnaround, a federal appeals court ordered a Teamsters pension fund to return approximately $2 million in withdrawal liability payments to an employer that had stopped contributing in 2005. The...more

Blake, Cassels & Graydon LLP

Canadian Pension Law: 2023 Year in Review

Canadian pension law went through numerous changes in 2023. Below is an overview of certain significant developments from the previous year as we look ahead to what may be coming next....more

Hogan Lovells

Secondary Portfolio Sales - A Guide to Pension Funds Selling Fund Interests

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Private equity and other illiquid private market investment funds have become increasingly relevant to pension fund investors in recent years as they have sought to diversify a minority proportion of their portfolios away...more

Bennett Jones LLP

Supplemental Pension Plans Secured with a Letter of Credit may Soon Receive Much Anticipated Refundable Tax Relief

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On November 30, 2023, the federal government introduced Bill C-59, Fall Economic Statement Implementation Act, 2023 (Bill C-59), which included proposed amendments to the Income Tax Act (Canada) (ITA) to implement changes...more

Tucker Arensberg, P.C.

No Signature, No Problem: How Conduct Can Bind an Employer to an Agreement

Tucker Arensberg, P.C. on

In a recent case involving the Steelworkers Pension Trust (the “SPT”) versus Republic Steel, a federal magistrate judge in the Western District of Pennsylvania ordered Republic Steel to pay the SPT nearly $1.4 million for...more

Barnea Jaffa Lande & Co.

Israeli Regulations Restrict Enrollees in Managers’ Insurance Plans

The Knesset Finance Committee recently approved an amendment to regulations designed to restrict new enrollees in managers’ insurance plans. This amendment will come into effect on September 1, 2023, and is likely to affect,...more

Bennett Jones LLP

Correcting Contribution Errors in Respect of Defined Contribution Pension Plans—New Rules Now in Force

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On June 22, 2023, Bill C-47 received royal assent, implementing a variety of amendments to the Income Tax Act (Canada) (ITA) and its regulations (ITA Regulations) tabled as part of the 2023 Federal Budget. As we previously...more

Bennett Jones LLP

New Pension Priorities in Bankruptcy and Insolvency Are Now Reality

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This is an update of our original blog dated April 24, 2023. Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985 received Royal...more

Akin Gump Strauss Hauer & Feld LLP

U.S. Treasury Proposes Sweeping Changes Narrowing a Key Exception from U.S. Taxation for U.S. Real Estate Investments Made by...

Key Points - Recently proposed regulations would significantly curtail the ability for private fund sponsors and non-U.S. investors to use a so-called D-REIT to facilitate a tax-efficient exit from U.S. real property...more

Fisher Phillips

Teamster Pension Bailout May Not Be Remedy Employers Hoped For

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Christmas came early this year for the beleaguered Teamsters Central States Pension Fund and its over 350,000 participants – but employers may soon realize they just received a lump of coal in their stockings. On December 8,...more

Fox Rothschild LLP

The Pension Fund Crisis is Starting to Boil

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Early this morning the White House announced that $36 billion was being allocated from the American Rescue Plan (i.e., the 2021 Coronavirus relief package) to shore up the Teamster’s Central States Pension Plan....more

Bennett Jones LLP

CAPSA Guideline on ESG and What Plan Administrators Should Consider

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The Canadian Association of Pension Supervisory Authorities' (CAPSA) draft guideline on ESG sets out three principles as guidance for pension plan administrators - - consider ESG characteristics that may have material...more

Bennett Jones LLP

CAPSA Consultation on ESG, Leverage, Cyber and Risk Management Guidelines for Pension Plans

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On June 9, 2022, the Canadian Association of Pension Supervisory Authorities (CAPSA) published consultation drafts of pension plan guidelines covering environmental, social and governance (ESG) considerations, as well as...more

Bennett Jones LLP

Governance Policies to be Required for All Federally Regulated Pension Plans

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On April 28, 2022, the federal government introduced Budget Implementation Act, 2022, No. 1 (Bill C-19) for first reading, to implement certain aspects of the federal government's 2022 Budget. Included in Bill C-19 is a...more

Hogan Lovells

Keine Pfändung von Entgeltumwandlungen

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Beiträge in Direktversicherungen können im Regelfall nicht gepfändet werden. Aber auch in anderen Durchführungswegen unterliegen Einzahlungen im Wege der Entgeltumwandlung nicht der Pfändung....more

Groom Law Group, Chartered

IRS Shuts Down US-Malta Treaty-Based Pension Tax Shelter

Over the years, tax shelter ideas have occasionally arisen in connection with the interpretation of some of the pension provisions found in US tax treaties, encouraged, perhaps, by the lack of guidance on many treaty...more

Hogan Lovells

Invalidität in der betrieblichen Altersversorgung

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Betriebliche Altersversorgung ist auch eine Absicherung gegen Invalidität. In zwei Urteilen vom 13. Juli 2021 hat das BAG den Versorgungsfall "Invalidität" konkretisiert. In diesem Sinn kann eine dauernde Erwerbsunfähigkeit...more

Bodman

Sixth Circuit Addresses Actuarial Assumptions Regarding Withdrawal Liability

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In Sofco Erectors, Inc. v. Trustees of the Ohio Operating Engineers Pension Fund (“Sofco”) (September, 28, 2021), the Sixth Circuit Court of Appeals issued a long awaited decision regarding the appropriateness of interest...more

Davis Wright Tremaine LLP

ARPA to the Rescue: Direct Assistance Available for Multiemployer and Single-Employer Pension Plans

The recently signed American Rescue Plan Act (ARPA) contains an assortment of benefit plan provisions, including a new COBRA assistance scheme and expanded dependent care provisions. It also includes several provisions aimed...more

Nossaman LLP

Podcast: How Will the Biden Administration Impact Public Pension Investments?

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In this episode of Public Pensions & Investments Briefings, Nossaman Public Pensions & Investments Group Partner Peter Mixon and Institutional Limited Partners Association Senior Policy Counsel Chris Hayes discuss what impact...more

Jackson Lewis P.C.

Is Relief For The Plight Of Multiemployer Pension Plans In The Works?

Jackson Lewis P.C. on

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

Bennett Jones LLP

Pension Regulatory Guidance and Measures Related to COVID-19 Pandemic (Updated) - August 2020

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Recent Updates - August 31, 2020: Changes made to Federal to reflect the revisions made to the Directives of the Superintendent pursuant to the Pension Benefits Standards Act, 1985. Effective August 31, 2020, the revisions...more

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