May 28, 2022

Volume XII, Number 148

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Going Through Withdrawal: Strategies to Minimize Your Multiemployer Pension Withdrawal Liability, Protect Your Assets, and Save Your Business

his interactive workshop will offer unionized employers the opportunity to learn innovative business planning strategies and aggressive negotiation techniques to address what is likely the most critical challenge facing their companies: multiemployer pension withdrawal liability. In addition, we will discuss and analyze the pending application of the Central States, Southeast and Southwest Areas Pension Fund to cut its participants vested pension benefits by up to 60% or greater, as well as the looming decision by the Treasury Department, and its Special Master Kenneth Feinberg, anticipated by May 7, 2016.

Attendees will:

  • Survey the significant challenges facing employers participating in multiemployer pension plans and the recent changes to the calculation of withdrawal liability encompassed within the Multiemployer Pension Reform Act of 2014 (“MPRA”)
  • Review Central States’ pending application to cut benefits under the MPRA, and what this and similar cuts by other funds may mean for your employees
  • Learn the basics of withdrawal liability, how it is triggered, and how it impacts employers today
  • Discover how to analyze and track how withdrawal liability is calculated and assessed, and how the statutory caps and timing could work to an employer’s advantage
  • Examine the critical issues that employers face in responding to an assessment of withdrawal liability
  • Build strategies for assessing and minimizing withdrawal liability risks through collective bargaining and business planning

In recent years, far too many pension funds have slipped into “critical” status, placing participating employers in the no-win situation of paying the exorbitant increases demanded by the funds or withdrawing and paying potentially massive withdrawal liability. As more and more multiemployer pension plans edge toward insolvency and the costs required to fund the pension benefit increase with no end in sight, the very future of your company may hang in the balance. In addition, the passage of the MPRA now allows plans in “critical and declining” status to cut benefits to employees and even retirees. Last fall, Central States filed its application to enact such cuts, and the Treasury Department has until May 7, 2016 to review the application to determine whether it meets the requirements established by Congress. Importantly, the MPRA may also provide increased leverage for employers seeking to extricate themselves from the crushing weight of their pension obligations and furnish tools that resourceful employers may use to minimize their withdrawal liability.

Clearly, employers—especially those whose collective bargaining agreements are expiring—are at a critical juncture. Join Epstein Becker Green as we discuss these issues in greater detail and present unique strategies to minimize your risks and save your business. Admission is complimentary, and lunch will be served.

Agenda

9:00 a.m. – Registration
9:30 a.m. – Multiemployer Pension Withdrawal Liability - Basics
10:45 a.m. – Morning Break
11:00 a.m. – Withdrawal Liability - Risks, Strategies, and Business Planning
12:00 p.m. – Lunch & Questions

Who Should Attend?

  • Business Owners
  • General Counsel
  • Chief Operating Officers
  • Chief Financial Officers
  • Human Resources Professionals

Registration and Lunch Are Complimentary. 

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