The American Rescue Plan Act of 2021 provides significant financial assistance to struggling multiemployer pension plans. In this article, we discuss how this might affect contributing employers that choose to withdraw from those funds.
Some employers provide retirement benefits for many of their employees through one or more multiemployer (“Taft-Hartley”) plans, and that benefit format represents, in effect, a strategic “fact of life” for them. But there is also a (larger) group of employers that maintain their own (“single employer”) retirement savings plan for the vast majority of their…Read More
Last week, there was good news for withdrawing employers from multiemployer pension plans. In The New York Times Company v Newspaper and Mail Deliverers’ – Publishers’ Pension Fund, Judge Robert W. Sweet in the Southern District of New York issued what to us is a fairly stunning decision, but one that we tend to support….Read More