multiemployer plans Archives | Page 2 of 4

Opinions | July 27th, 2020

COVID-19 Compliance Corner: Impact on Defined Benefit Plans

Each week, Carol Buckmann, with Cohen & Buckmann P.C., will explain legislative provisions or official guidance related to the COVID-19...

Compliance | June 19th, 2020

Second Court Finds Use of Segal Blend Was Improper

A pension fund challenged the use of the Segal Blend to assess its withdrawal liability from a multiemployer plan instead...

Compliance | June 1st, 2020

IRS Provides Additional Deadline Relief to Plan Sponsors

Deadlines have been moved for single-employer and multiemployer DB plans and 403(b) plans, among others.

Compliance | May 12th, 2020

New House Stimulus Draft Includes Union Pension Partition Relief

The draft legislation also includes a proposed extension of amortization of required annual funding amounts for single-employer pensions.

Compliance | May 8th, 2020

Lawmakers Urge Multiemployer Pensions Fix Be Included in Future Stimulus Package

There were discussions to include proposals for multiemployer pensions in previously passed coronavirus relief bills, but efforts fell apart.

Compliance | April 28th, 2020

Multiemployer Plans Urgently Need Help to Avoid Catastrophe

Lawmakers and industry groups are pushing for immediate action as the COVID-19 pandemic wreaks havoc on already struggling multiemployer pensions.

Compliance | March 25th, 2020

Central States Wins Lawsuit Over Kroger Withdrawal

It was the documented process of the multiemployer plan trustees’ considerations of withdrawal proposals by Kroger that helped them win...

Compliance | March 16th, 2020

Union Plan Member’s Lawsuit Over Unfunded Benefit Liabilities Dismissed

The lawsuit was previously dismissed because the alleged breach of fiduciary duty involved the amendment of plan benefits, which is...

Compliance | February 14th, 2020

Trump’s 2021 Budget Proposes Increasing Multiemployer PBGC Premiums

The premiums would increase by $26 billion over 10 years.

Compliance | January 14th, 2020

First Facilitated Merger of Multiemployer Plans Approved by PBGC

Under the Multiemployer Pension Reform Act, if one or more of the plans in the merger is in critical and...

Compliance | January 10th, 2020

Assumptions for Withdrawal Liability Cannot Be Changed and Applied Retroactively

“The selection of an interest rate assumption after the Measurement Date would create significant opportunity for manipulation and bias” by...

Compliance | December 2nd, 2019

Court Finds Private Equity Funds Not Liable for Plan Withdrawal Liability

An appellate court found a partnership test set forth in a previous case had not been met between the private...

Compliance | November 12th, 2019

PBGC Proposes New Methods for Counting Inactive Multiemployer Plan Participants

The PBGC anticipates that providing plans with three available counting methods will allow each plan to choose the one that...

Compliance | October 16th, 2019

Legislation to Help Multiemployer Plans Reintroduced

The bill would funnel money to the PBGC from imposed fees on financial companies seeking a DOL exemption in order...

Compliance | October 14th, 2019

PBGC Announces Premium Rates for 2020

The agency notes that there are no scheduled increases (other than indexing) for years after 2019.

Administration | October 8th, 2019

Multiemployer Plans Still Applying for Benefit Reductions

Even as lawmakers are scrambling to find a solution to the multiemployer pension crisis, the trustees of the Detroit Carpenters’...

Compliance | September 18th, 2019

CBO Says Rescue Plan for Multiemployer Pensions Won’t Help

For one thing, the Congressional Budget Office projects that about one-quarter of the affected multiemployer plans would become insolvent in...

Data and Research | September 3rd, 2019

Orphan Participants Affecting Multiemployer Plan Funding

Plans with a higher ratio of inactive to active participants also report being in critical or critical and declining zone...

Compliance | August 29th, 2019

Court Decides Lawsuit Over Multiemployer Plan Withdrawal Liability Is Time-Barred

According to an appellate court, a cause of action against a plan sponsors for defaulting on its multiemployer plan withdrawal...

Compliance | August 12th, 2019

Caesars Owes No Withdrawal Liability for One Closed Pension in Controlled Group

An appellate court affirmed a District Court’s judgement that because Caesars Entertainment continues to contribute to a multiemployer plan for...

Tag: multiemployer plans