ERISA & Employee Benefits

Izzy Goldowitz

IRS Guidance for Plan Sponsors on ARPA’s Effect on Funding for Plan Years 2020 and 2019

As we advised in Important Benefit Plan Provisions of the American Rescue Plan Act of 2021, in the American Rescue Plan Act of 2021 (ARPA), Congress provided funding relief for single-employer defined benefit pension plans. 

PBGC RULES ON SPECIAL FINANCIAL ASSISTANCE TO MULTIEMPLOYER PLANS: THE EFFECT ON BENEFITS, CONTRIBUTIONS, WITHDRAWAL LIABLITY, AND PLAN DESIGN

Introduction

Presidential Memorandum Stirs Long-Simmering Pension Issues

Employee benefits law often involves interaction between Congress, the Executive Branch, and the courts. That calls for an understanding of the politics of law reform and regulation. A recent presidential document illustrates the point.

Multiemployer Plan Withdrawal Liability Assumptions Under Attack

Three recent decisions illustrate the threats facing multiemployer plans as they struggle to collect withdrawal liability while trying to forestall insolvency. We covered those issues here.

Congress Considers Multiemployer Pension Reforms While Benefit Suspensions Loom

The U.S. Treasury Department has received an application by the American Federation of Musicians and Employers' Pension Fund (the "Plan") to suspend benefits under the Multiemployer Pension Reform Act of 2014. Multiemployer pension plans cover union-represented workers and are run by a board of trustees, half appointed by the union and half appointed by employers. Most provide a traditional ...

Multiemployer Plan Reforms are Needed Before it's Too Late

The President's proposed 2020 Budget, released March 11, 2019, would shore up the Pension Benefit Guaranty Corporation's ("PBGC") multiemployer pension plan insurance fund by increasing premiums, including "variable-rate" and "exit" premiums in addition to the current "flat-rate" premiums. The PBGC's separate single-employer insurance program has included such premiums for years. The ...

PBGC Issues New Staff Interpretations

In mid-2018, the Pension Benefit Guaranty Corporation ("PBGC") began posting Q&As for practitioners on its website. Last week, PBGC posted an update, including several additional Q&As. The Q&As are available on the PBGC's "Staff Responses to Practitioner Questions" page, which can be found by clicking here. These "PBGC-curated" Q&As substitute for the Q&As that were developed ...