Mining Co. Owes $115M Withdrawal Penalty To Pension Plan
Law360 (May 22, 2020, 6:24 PM EDT) -- A D.C. federal judge on Friday granted a union pension plan's bid to enforce an arbitration award upholding a $115 million withdrawal liability penalty against a PacifiCorp subsidiary, saying the plan's actuary's methods and assumptions were reasonable under federal benefits law.
U.S. District Judge Carl J. Nichols granted summary judgment in favor of United Mine Workers of America 1974 Pension Plan, finding that an arbitrator properly upheld the liability assessment against Energy West Mining Co. after it pulled out of the multiemployer plan that has covered most coal miners in the United States since 1974.
The calculations made by the pension plan...
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