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D.C. Circuit Rules That Past Is Prologue in Withdrawal Liability Dispute
Kantor & Kantor July 15, 2022 "In 2015, the plan was predicted to be bankrupt as early as 2022. That didn't happen because of a government bailout. But this reality begs the question whether it makes sense to impose a discount rate that assumes the plan would have continued to earn something close to 7.5% on its assets during the relevant time period. Or does applying such an assumption simply shift the costs of withdrawal from the participating mining company to the taxpayers and the plan, thereby incentivizing employers such as Energy West to withdraw, doing precisely what Congress was seeking to avoid." [United Mine Workers of America 1974 Pension Plan v. Energy West Mining Co., No. 20-7054 (D.C. Cir. July 8, 2022)] |
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