Secure 2.0 memo
On December 29, 2022, the President signed the Consolidated Appropriations Act of 2023 (“Appropriations Act”) into law, which includes, the SECURE 2.0 Act of 2022 (“SECURE 2.0 Act”). This memorandum summarizes the provisions of the SECURE 2.0 Act most relevant to multi-employer pension plans. Plans will be allowed to operate in accordance with the SECURE […]
Supreme Court Provides Guidance on Investment Obligations for Pension Plans
The relevant cases each revolve around alleged breaches of fiduciary duties of loyalty and prudence.ERISA requires plan fiduciaries to act “solely in the interest of [plan] participants
Employers Challenge Withdrawal Liability Assumptions
This memo is intended to explain a recent appellate court decision regarding the application of the SegalBlend interest rate assumption used to calculate withdrawal liability. As explained below, the interest rateassumption is the statutory responsibility of a plan actuary and not the Board of Trustees. The Trustees canrequest information from the plan actuary to consider […]
COVID-19 Resources
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader should consult with legal counsel to determine how laws ordecisions discussed herein apply to the reader’s specific circumstances.