December 17, 2014

Yesterday, President Obama signed into law the most comprehensive legislation affecting multiemployer pension plans since the Multiemployer Pension Plan Amendments Act of 1980. The Multiemployer Pension Reform Act of 2014 (the “Act”) is intended to shore up the finances of the multiemployer pension insurance program, which the Pension Benefit Guaranty Corporation (“PBGC”) recently announced would become insolvent within the next 10 years. The Act makes a number of controversial changes for underfunded multiemployer plans.

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