CLIENT ALERTS

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 or post a …

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Distressed Employers Facing Skyrocketing Pension Contributions: A Non-Bankruptcy Solution

September 15, 2009–CLIENT ALERT: During these financially difficult times, many employers are finding that the skyrocketing costs of funding their pension plans are threatening their viability and ultimate survival. A little-known provision in ERISA, often referred to as the “Business Continuation Test,” could provide an employer with a non-bankruptcy solution to enable it to continue its …

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Threat of Federal Tax Liens Looms Over PBGC 4062(e) Downsizing Liability Cases

May 28, 2014—CLENT ALERT: In recent years, many employers who have downsized or sold businesses have faced a PBGC demand for liability under ERISA Section 4062(e). The demand is typically for a portion—or in some cases all—of the full liability that would be incurred if the employer’s pension plan terminated, even though the plan remains ongoing with …

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