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'CRomnibus Act' Brings Many Changes to Multiemployer and Single-Employer DB Plans
McGuireWoods Link to more items from this source
[Guidance Overview]
Dec. 28, 2014
"Changes for multiemployer pension plans are most sweeping, including: [1] Authorization to suspend benefits for active and retired participants where multiemployer plans in 'critical and declining status' meet detailed requirements. [2] Doubling of PBGC premiums for multiemployer plans. [3] Repeal of the 'sunset' provisions of the Pension Protection Act (PPA) multiemployer funding rules. [4] Disregard of PPA surcharges and certain other contributions when calculating withdrawal liability. [5] Expansion of PBGC authority to approve plan partitions and facilitate plan mergers."

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