Multiemployer/Taft-Hartley Plan Withdrawal, Mass Withdrawal and Termination
Title IV of Employee Retirement Income Security Act (ERISA) imposes specific duties in connection with withdrawals and mass withdrawals from a multiemployer plan. Mass withdrawals and multiemployer plan terminations may require benefit adjustments and could lead to insolvency. In addition to addressing withdrawal liability disputes on behalf of plans and employers, we have a great deal of experience in dealing with the more unusual and complicated issues that arise when a multiemployer plan experiences a mass withdrawal, termination, and/or insolvency. We provide advice on:
- Understanding the "evade or avoid" rule under ERISA section 4212(c).
- Negotiating and managing mass withdrawal.
- Assessing or negotiating settlement of mass withdrawal liability.
- Making required filings with Pension Benefit Guaranty Corporation (PBGC).
- Providing required participant notices.
- Applying for financial assistance.