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Comprehensive Multiemployer Pension Reform Now in Play
Seyfarth Shaw LLP Link to more items from this source
Dec. 11, 2014
"Much of the draft legislation is based on recommendations previously issued by the National Coordinating Committee for Multiemployer Plans [NCCMP]. The bill is designed to make it easier for multiemployer pension plans to take steps to improve their health without necessarily placing significant additional financial burdens on participating employers or taxpayers.... [Key] highlights of interest for employers: [1] Ability of deeply troubled plans to reduce benefits before insolvency.... [2] Changes to mergers and partitions.... [3] Employer relief on withdrawal liability payments."

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