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Sixth Circuit Withdrawal Liability Decision Casts Doubt on Use of PBGC Rate
Akin GumpLink to more items from this source
Oct. 6, 2021

"According to the 6th Circuit, a withdrawal liability interest rate that does not take into account the anticipated experience of the [multiemployer plan's (MEP's)] actual investment portfolio violates ERISA's mandate that the interest rate be based on the anticipated experience under the plan. It is virtually impossible to argue that the PBGC rate takes into account a MEP's investment portfolio or anticipated experience[.]" [Sofco Erectors, Inc. v. Trustees of Ohio Operating Engineers Pension Fund, No. 20-3639 (6th Cir. Sept. 28, 2021)]

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