Employee benefits are an important part of every employees' total compensation package. The continuously evolving landscape in the areas of health care reform, retirement plan design, and executive compensation makes it difficult for employee benefits professionals to keep up with relevant developments. The employee benefits attorneys at Stinson Leonard Street provide human resources professionals, plan fiduciaries, actuaries, accountants, and others in the industry with practical and cost-effective assistance as they navigate through the complex laws, regulations and guidance that govern employee benefits plans. This blog highlights key developments in the employee benefits field and items of interest to our clients. Our Bloggers →
Multi-employer Plans Employers participating in multiemployer plans should be well aware of the funded status of those plans. Annually the employer must receive notice from the plan about its funded status including whether it is in “endangered” or “critical” status. Under the Pension Protection Act of 2006, a multiemployer...
Multi-employer Plans, Retirement Plans If an employer withdraws from a multiemployer plan and is assessed withdrawal liability, all members of the employer’s controlled group are liable for that assessment. The controlled group rules look at the extent of common ownership among various trades or businesses, whether or not incorporated. The determination...
Multi-employer Plans, Retirement Plans I previously blogged on a case where a purchaser who did not try to assume withdrawal liability in a purchase transaction learned that it could nevertheless be responsible for that liability as a successor employer. In another recent case, a seller who tried to structure a transaction so that the buyer assumed the...
ERISA and Other Benefits Litigation, Multi-employer Plans, Retirement Plans Employers who participate in multiemployer pension funds know that if they withdraw from those funds they may be required to pay withdrawal liability if the plan is underfunded. Employers who sell their assets to an unrelated buyer can avoid that withdrawal liability if the buyer agrees to assume an obligation to...
