"Judge Sweet found the arbitrator's emphasis on fairness to be misplaced. Instead, he focused on the [statutory] requirement in ERISA Section 4213(a) that the interest rate assumption 'offer the actuary's best estimate of anticipated experience under the plan.' ... In the same manner as Judge Sweet attacked the use of the 'Segal Blend' (a combination of the funding interest rate assumption and PBGC Rates) as 'including interest rates for assets not included in the Fund's portfolio' and, therefore, not representative of the 'best estimate of anticipated experience under the plan,' plans using PBGC Rates to calculate withdrawal liability also would be susceptible to attack." [The New York Times Co. v. Newspapers & Mail Deliverers'-Publishers' Pension Fund, No. 17-6178 (S.D.N.Y. Mar. 26, 2018)]

MORE >>