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Expert Analysis

Costs To Pension Withdrawal Liability May Change

Law360, New York (August 28, 2014, 10:15 AM EDT) -- Since 1980, employers withdrawing from participation in underfunded multiemployer defined benefit plans have faced the possibility of paying significant "exit fees" in the form of withdrawal liability. Multiemployer plans have often included any "surcharge" imposed by the Pension Protection Act of 2006 for plans in "critical status" when calculating a withdrawing employer's withdrawal liability. However, the U.S. District Court for the District of New Jersey recently ruled that the common practice of including automatic employer surcharges in calculating withdrawal liability is not supported by the Employee Retirement Income Security Act....

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