Tens of thousands of employers in the U.S. contribute to multiemployer pension funds that are in critical and declining status, collectively facing an unfunded liability well above $100 billion; Society of Actuary researchers warn of potential ripple effects should many of their plans fail at once.
Tag: multiemployer pension plan
The employer sought to carve out new hires from a critical-status multiemployer pension fund and instead direct their contributions into a 401(k) plan—but both a district court and appellate court have called foul.
U.S. Senators Orrin Hatch and Sherrod Brown are seeking public and industry input on ways to improve the solvency of multiemployer pension plans and the Pension Benefit Guarantee Corporation.
A federal district court has ruled a multiemployer pension fund's use of the "Segal Blend" rate when assessing a member's withdrawal liability was, in this instance, improper.
The 11th U.S. Circuit Court of Appeals ultimately determined there is no explicit restriction saying a critical-status multiemployer plan’s board of trustees cannot charge withdrawing employers for their share of the plan’s accumulated funding deficiency.