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Employee Benefits › Retirement Plan › Interest Rates

Littler

D.C. Circuit Breaks from Second Circuit, Finds Pension Fund May Retroactively Change Its Interest Rate Assumptions

Littler on

On February 9, 2024, the U.S. Court of Appeals for the D.C. Circuit issued its decision in Trustees of IAM Nat'l Pension Fund v. M & K Emp. Sols., LLC, No. 22-7157 (D.C. Cir. Feb. 9, 2024), affirming the district court’s...more

Seyfarth Shaw LLP

National Education Association Retirement Plan Gets Schooled On Withdrawal Liability Interest Rate Assumptions

Seyfarth Shaw LLP on

Seyfarth Synopsis: Another court has found that actuaries who set discount rates for withdrawal liability purposes that are not based upon their “best estimate of anticipated experience” for investments under the plan—in...more

Fox Rothschild LLP

Interest Rate Hikes Present Challenge for Fully Funded Pension Plans

Fox Rothschild LLP on

After years of historically low interest rates (which results in larger lump sum pension amounts), there have been significant interest rate increases during 2022. Prospects for 2023 are for more of the same. While many...more

Fox Rothschild LLP

What Employers That Contribute to Multiemployer Plans Receiving 'Special Financial Assistance' Need to Know

Fox Rothschild LLP on

In a prior alert, we detailed how the Interim Final Rule (IFR) from the Pension Benefit Guaranty Corporation (PBGC) regarding the special financial assistance (SFA) provided under American Rescue Plan Act of 2021 (ARPA) would...more

McDermott Will & Emery

Weekly IRS Roundup March 20 – March 26, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 20, 2022 – March 26, 2022... March 21, 2022: The IRS issued Revenue Ruling 2022-07,...more

Bodman

Sixth Circuit Addresses Actuarial Assumptions Regarding Withdrawal Liability

Bodman on

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

Akin Gump Strauss Hauer & Feld LLP

Sixth Circuit Weighs In on Multiemployer Plan Withdrawal Liability Assumptions

Akin Gump Strauss Hauer & Feld LLP on

On September 28, 2021, in Sofco Erectors v. Trustees of the Ohio Operating Engineers Pension Fund, No. 20-3639/3671, 2021 BL 367718 (6th Cir. Sept. 28, 2021), the 6th Circuit Court of Appeals issued the first major appeals...more

Robins Kaplan LLP

Financial Daily Dose 12.20.2019 | Goldman nearing $2B deal with DOJ to resolve 1MDB scandal claims

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Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more

Neal, Gerber & Eisenberg LLP

Employee Benefits Alert

Neal, Gerber & Eisenberg LLP on

Use of Forfeitures for Safe Harbor Contributions, QNECS and QMACS - The Internal Revenue Service (IRS) recently issued final regulations allowing forfeitures in 401(k) plans to be used to fund safe harbor contributions,...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 6.10.16

Robins Kaplan LLP on

More thoughts on the Department of Labor’s new retirement adviser fiduciary duty standard, including questions about the “grassroots” movement the US Chamber of Commerce is claiming to support its opposition to the standard....more

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