2nd Circ. Pension Liability Ruling Is A Big Win For Employers
Law360 (January 13, 2020, 5:43 PM EST) -- Following oral arguments that were held in February 2018, in a long-anticipated decision in the National Retirement Fund v. Metz Culinary Management Inc., the U.S. Court of Appeals for the Second Circuit held that a multiemployer pension fund's use of a lower interest rate that was adopted after the statutory withdrawal liability measurement date violated the Employee Retirement Income Security Act. The decision will greatly benefit certain employers who (as Metz did) withdrew from the National Retirement Fund, or NRF, during 2014 and may also impact other employers and funds.
Under the withdrawal liability rules set forth in ERISA as amended by the Multiemployer...
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