The U.S. Government Accountability Office reports that the number of insolvent multiemployer pension plans could more than double in the next three years. Many employers have withdrawn from these plans, and many have liquidated, unable to pay their withdrawal liability obligations. These developments expose those employers that remain to higher participation costs and the threat of greater liability, including mass withdrawal liabilities. Partner Jay McElligott and counsel Carolyn Trenda discuss the mass withrdrawal rules and their practical effect in 2014 and beyond during this webinar hosted by Bloomberg BNA.
For more information, please visit www.bna.com.
Topics
- What is a mass withdrawal and what effect does mass withdrawal have on an employer’s withdrawal liability?
- How does a mass withdrawal differ from a plan termination by amendment under ERISA section 4041A?
- What happens to the benefits of retirees and employees when a mass withdrawal occurs?
- What guarantee does the Pension Benefit Guaranty Corporation provide in the event of multiemployer plan insolvency?
- How can an employer, investor or lender evaluate a plan’s risk for mass withdrawal?
- What can be done to avoid, mitigate, or challenge mass withdrawal liability?
- What is the impact of Pension Benefit Guaranty Corporation’s May 27, 2014 final rule amending its multiemployer regulations?
- What does Pension Protection Act “Sunset” mean for multiemployer plans?
- What legislative proposals are in the works to address the multiemployer plan crisis?