News & Analysis as of

Retirement Plan Pensions Multi-Employer Pensions

Littler

Third Circuit Holds Multiemployer Pension Fund Claim Cannot Be Enforced due to Unreasonable Delay in Providing Notice of...

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In July, the Third Circuit upheld a District of New Jersey decision to throw out a withdrawal liability assessment, finding the multiemployer pension fund was barred from pursuing its claim because the fund unreasonably...more

Troutman Pepper

Multiemployer Pension Plans in Mergers and Acquisitions — Troutman Pepper Podcast

Troutman Pepper on

In this insightful episode of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, attorneys Paul Porretta and Christopher Stock delve into the complex world of...more

Faegre Drinker Biddle & Reath LLP

Multiemployer Pension Plan Alert: Evergreen Clauses May Trump the Bargaining Parties’ Subsequent Agreement

The U.S. Court of Appeals for the Seventh Circuit recently ruled that Central States, Southeast and Southwest Areas Pension Fund may continue its lawsuit against Transervice Logistics, Inc. and Zenith Logistics, Inc. seeking...more

Jackson Lewis P.C.

Plan Terms and Tax Rules: What Does “Retire” Mean To Qualify for Retirement Benefits?

Jackson Lewis P.C. on

In Metzgar v. U.A. Plumbers & Steamfitters Local No. 22 Pension Fund, 2022 U.S. App. LEXIS 5466 (2d Cir. Mar. 2, 2022), the Second Circuit in a summary order affirmed the district court’s decision granting summary judgment in...more

Morgan Lewis - ML Benefits

VAPPs in Vogue: Increased Flexibility Breathes Life into a Longstanding Multiemployer Pension Plan Design

Although variable annuity pension plan (VAPP) designs have been permissible for decades, they have not yet seen widespread adoption—particularly in the Taft-Hartley multiemployer plan space. This post provides a brief...more

Proskauer - Employee Benefits & Executive...

[Podcast]: Special Financial Assistance for Multi-employer Pension Plans (Part 2)

This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer...more

Proskauer - Employee Benefits & Executive...

[Podcast]: Special Financial Assistance for Multiemployer Pension Plans (Part 1)

This episode of The Proskauer Benefits Brief is the first of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer...more

Faegre Drinker Biddle & Reath LLP

PBGC Publishes Final Rule Allowing Simplified Withdrawal Liability Calculations Applicable to Benefit Reductions, Benefit...

On Friday January 8, the Pension Benefit Guaranty Corporation (PBGC) published a final rule that provides multiemployer pension plans with additional methods to help calculate employer withdrawal liability. The rule includes...more

Dickinson Wright

PE Funds Are Not Part of Controlled Group; What About Your Company?

Dickinson Wright on

Earlier this month, the U.S. Supreme Court denied a request to review the First Circuit Court of Appeals decision in the Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund case, thereby...more

BCLP

COVID-19: Considerations for U.S. Contributing Employers to Multi-employer Plans

BCLP on

The COVID-19 pandemic has had a significant financial impact on business and individuals around the globe, with global financial markets seeing significant drawbacks in March 2020 alone. That impact has also been felt by U.S....more

Jackson Lewis P.C.

Republicans Propose Wholesale Reform Of Multiemployer Pension Plan System

Jackson Lewis P.C. on

In a white paper and technical explanations, Republican Senators Charles E. Grassley (Chairman of the Senate Committee on Finance) and Lamar Alexander (Chairman of the Senate Committee on Health, Education, Labor and...more

Locke Lord LLP

First Circuit Holds Affiliated Investment Funds Not Liable For Multiemployer Withdrawal Liability

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Private equity fund sponsors can breathe a sigh of relief last week as the First Circuit Court of Appeals, reversing a district court finding, held that two separate private equity funds sharing a general partner (Sun Capital...more

Stoel Rives -  Ahead of Schedule

Understanding This Pension Rule May Help Contractors Avoid Costly Liability Assessments

If you use union employees in your projects, you may contribute to a multiemployer pension plan—perhaps a few cents or few dollars per hour worked. However, some employers are surprised to learn they could be assessed with...more

Littler

Seventh Circuit Holds that a Deceleration of Withdrawal Liability is Unavailable Under ERISA’s Common Law

Littler on

In Bauwnes v. Revcon Technology Group, Inc., the U.S. Court of Appeals for the Seventh Circuit held that the trustees of a multiemployer pension plan could not agree to an employer’s installment payment plan of its withdrawal...more

King & Spalding

Compensation and Benefits Insights – August 2019

King & Spalding on

Multiple Employer Plans: Proposed IRS Regulations Eliminate the “One Bad Apple” Rule - A multiple employer plan (MEP) is a tax qualified retirement plan that is maintained by two or more employers who are not part of the...more

Littler

Workplace Policy Institute Insider Report - October 2016

Littler on

Littler's Workplace Policy Institute Insider Report details key labor, employment, and benefits news and events at the federal, state, local, and global levels. The October edition of the Insider Report examines what Congress...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL slightly opens the door for Open MEPs

I was always a fan of “open” multiple employer plans (MEPs) because it allowed smaller companies to get better pricing on plan expenses and choice of investments and providers by aggregating with smaller, similar plans....more

Robinson+Cole Manufacturing Law Blog

A Troubling Future Part One:  Teamsters’ Pension Rescue Plan

Two significant developments in the multi-employer pension world emerged in September, developments which could give manufacturers concern.  While this is not the time to panic (we have plenty of time to panic), readers...more

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