Withdrawal Liability: A Hidden Hazard

Law360, New York (June 20, 2007, 12:00 AM EDT) -- Employers with unionized employees are all too familiar with the issues that arise in the negotiation and maintenance of collective bargaining agreements. It is not uncommon for the union to require the employer to participate in the union pension plan and contribute toward the employees’ retirement benefits.

Many times, that pension plan is a multiemployer pension plan covering employees for a variety of employers. These if these pension plans are “underfunded,” employers have to be keenly aware of the possibility of certain transactions triggering “withdrawal liability.”...
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