Analysis

2nd Circ. Pension Calculation Fight Has High Stakes For Cos.

By Emily Brill (February 23, 2019, 12:38 AM EST) -- The biggest expense many companies will ever face, a charge so staggering that some crumble under its weight, is calculated through a simple formula. If the interest rate used in this formula drops a few percentage points, the amount employers owe can jump by billions of dollars.

That's why a court fight led by The New York Times over an arcane topic — the interest rate used to calculate benefit obligations for companies that stop paying into union pension plans — has made waves in the Second Circuit. The case has drawn impassioned friend-of-the-court briefs from employers that have seen their...

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