Downsizing Employers with Ongoing Pension Plans May Face an Immediate and Significant PBGC Liability
February 18, 2009 – CLIENT ALERT: The Pension Benefit Guaranty Corporation—relying on an obscure ERISA provision that had been largely ignored for decades—is aggressively pursuing liability against downsizing employers with ongoing pension plans. On the books since 1974, ERISA Section 4062(e) empowers PBGC to make an immediate demand that an employer provide an escrow payment […]