cspf unfunded liability

[Guest martin lipton]

does anyone know the amount of central states' 12/31/2009 unfunded liability?

[Guest khaneline]

According to a May 4, 2010 assessment, the unfunded liability is "Net Change in UVB (12/31/09) 19,368,628,914." Ken

[Guest mab]

What does anyone understand to be the payment terms of any liability under this plan? In other words, I know the plan requires monthly payments of any withdrawal liability amounts but I can figure out for certain how long of a term payments could be spread out....

[Guest Smash]

The payment period will depend on two items - the amount of the company's overall withdrawal liability, and the statutory withdrawal liability under ERISA. The statutory payment is a function of the average high contribution base units, and the highest contribution rate, each over the last ten years (sort of). The period will be the amount necessary to amortize the withdrawal liabilty at the annual payment amount (adjusted for monthly payments). I believe CSPF uses a 7.5% interest rate in determining the period of amortization. Under a standard withdrawal liability assessment (not a mass withdrawal), ERISA limits the payment period to 20 years.

[Guest mab]

The payment period will depend on two items - the amount of the company's overall withdrawal liability, and the statutory withdrawal liability under ERISA. The statutory payment is a function of the average high contribution base units, and the highest contribution rate, each over the last ten years (sort of). The period will be the amount necessary to amortize the withdrawal liabilty at the annual payment amount (adjusted for monthly payments). I believe CSPF uses a 7.5% interest rate in determining the period of amortization. Under a standard withdrawal liability assessment (not a mass withdrawal), ERISA limits the payment period to 20 years.

Tx. for the reply. Our client got a withdrawal liability estimate just north of $585,000 which seems to increase daily so we are trying to get an idea on how long they could spread out the payments.