Participating employers rights to information

[JanetM]

Have read Milliman's article on mulitemployer plans funding problems and am wondering what the rights of a participating employer are? We have a number of companies in the SMW pension plan and it is underfunded. What right do we have to information since we are the ones who will pay the excise tax?

[KJohnson]

There are certain rights that an employer has for information with regard to withdrawal liability (I believe including a request for an estimate). However, if you are just looking for general information, I would suggest talking to the employer association. The Board of Trustees of a multiemployer fund must be equally represented by appointees from the union and management. Typically (although not always) and employer's association appoints the management trustees. The best way to get information may be through the management appointed trustees.

[mal]

We recently looked at this issue and determined there

was no affirmative duty on the part of the trustees

to give notice of a withdraw liability, but that

there was a duty to respond to a request for

info about such liability.

How bad is the Sheet Metal situation?

[JanetM]

Well at 12/31/00 they were 52% funded - per the schedule B. The UVB pool increased $750 million in 2001. Is really bad.