This webinar was previously recorded on February 26, 2015. To view the recorded version of the webinar, click here.
A Road Map to Major Changes Coming to Multi-Employer Pension Plans:
What Participating Employers Should Do Now
To address the severe underfunding of multi-employer pension plans and the teetering finances of the Pension Benefit Guaranty Corporation ("PBGC"), the Multi-Employer Pension Reform Act of 2014 ("MPRA") was enacted last December in the most significant legislation affecting these plans since 1980. Among other changes, the MPRA gives troubled funds the ability to reduce the pension benefits of participants, including benefits for some retirees already in pay-status. It also gives additional flexibility to the PBGC to help underfunded plans by providing its financial assistance and facilitating fund mergers and partitions. There are also special rules under MPRA that may impact an employer's withdrawal liability.
This webinar, presented by Employee Benefits and Executive Compensation chair Andrew Douglass and Labor and Employment vice-chair Brad Kafka, discussed how the MPRA changes affect multi-employer pension plans, and specific actions that employers should consider in light of MPRA changes taking effect this year.
Points of discussion included:
- How you can evaluate the current funded status of a multi-employer pension fund
- The ongoing risks of continued participation in these funds
- How your company's collective bargaining strategies may be impacted
To view the full invitation, click here.
To listen to the podcast now, click here.