Multi-Employer Pension Plans

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The Pension Benefit Guaranty Corporation released its Fiscal Year 2019 Annual Report and, you guessed it, it was “un-good” (a legal term I think).  The Multiemployer Insurance Program recorded a record-breaking deficit of $65.2 billion.  The PBGC warned that the Multiemployer fund will likely be insolvent by 2025, within 6 years from today.  Without the…

As has been our tradition, January is the time to predict the big developments in the coming year that will impact manufacturers.  In January 2017, notwithstanding my “Lawyer’s Shrug,” I predicted Congress was unlikely to raise the minimum wage, but states and cities would attempt to do so; the National Labor Relations Board would turn…

As has been our tradition, January is the time to predict the big developments in the coming year which will impact on manufacturers.  Notwithstanding my “Lawyer’s Shrug,” here is my take on 2017.

Minimum Wages.  Even though President Trump ran on a populist platform to raise wages for American Workers, I believe it unlikely…

I am a really big fan of the NPR radio show, “Car Talk,” where two Boston auto mechanics took callers’ questions and tried to answer them.  Since the November 8 election, I have freely adapted one of their signature phrases – I call it the “Manufacturers’ Lawyers’ Shrug.”  Basically, when I attend any event and…

We have been watching, warning and posting about the saga of the troubled Central States Pension Plan (“CSPP”).  See The Gift-Giving Season? Three “Game-Changing” Employment Developments Impacting Manufacturers, Teamster Plan to Cut Pensions Presents Significant Issues for Manufacturers, and A Troubling Future Part One:  Teamsters’ Pension Rescue Plan.  Things were bad.  They…

While we are still saying “Happy New Year” (I checked and was told that January 21 was still “not too late” to wish good tidings for 2016), and as we get ready for the Great East Coast Blizzard of 2016, I thought it would be a good time to add my own predictions for…

This is the second of two posts regarding the “troubling” state of multi-employer pension plans.  My October post provided an overview of the recently published Teamsters’ Central States Pension “Rescue Plan” and discussed some of its implications.  This post will review the recent  decision of the Ninth Circuit Court of Appeals in Resilient Floor Covering …

Two significant developments in the multi-employer pension world emerged in September, developments which could give manufacturers concern.  While this is not the time to panic (we have plenty of time to panic), readers should take notice.

Development number one was the filing on September 25 of the Teamsters’ Central States Pension “Rescue Plan” to…

In April, the Teamsters Central States Pension Fund (“Central States”) announced its intention to cut the benefits of retired workers under the recently enacted 2014 Multiemployer Pension Reform Act (“MEPRA”). I previously blogged about the MEPRA in December. There I noted that, for those financially stressed pension plans seeking protection, the process for implementing benefit…

The second half of 2014 was a whirlwind of activity on the labor and employment front, and I expect that trend to continue in 2015 with manufacturers having to navigate the rapids created by these developments.

The United States Supreme Court will be called on to address the Constitutionality of state medical and recreational marijuana…