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Multiemployer Pension Plan Lowers Threshold That Triggers Partial Withdrawal Liability Payments
Jackson Lewis P.C. 
Feb. 12, 2016
"Under the 70% Decline Rule, a partial withdrawal can occur when the employer's contribution base units decline by at least 70% and remain at or below that level over a three-year testing period. However, under the seldom utilized ERISA Section 4205(c), a multiemployer pension plan that covers mostly employees in the retail food industry may be amended to provide that a partial withdrawal is triggered by only a 35% decline in contribution base units instead of a 70% decline. This is the provision that the UFCW National Pension Fund has taken advantage of, and which may ensnare some of its unsuspecting participating employers."
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