Sale of assets

[Guest ship10@aol.com]

I understand that under section 4204 multiemployer plan has rules specific to treating a sale of substantially all assets. However, how is a sale of assets treated under a multiple-employer plan? Does that constitute withdrawal of the employer and trigger withdrawal liability?

Second, multi-employer plans have provisions so that a withdrawing employer will not be subject to withdrawal liability if he is indemnified by a purchaser employer. Is there any such allowance in multiple employer plans or does that require the authorization of PBGC?

[Mike Preston]

The concept of withdrawal liability is specific to multi-employer plans, isn't it? Can you point to something which establishes statutory withdrawal liability in multiple employer plans? I'm just curious. Assuming that there isn't any statutory authority, you are left with "whatever the plan says", aren't you?

[jpod]

Quite often there are agreements between the participating sponsors of multiple employer plans addressing these issues which are not part of the Plan documents, so you would have to look there too.