Understand the nature of withdrawal liability and how to best analyze the risk.
Contributing to a multiemployer pension plan can, in some circumstances, have far-reaching effects for an employer, one of which is resulting in substantial withdrawal liability payments because many plans are underfunded. Frequently, employers enter into these arrangements without fully understanding the consequences, or the strategies that may be employed to mitigate potential withdrawal liability. This topic will help employers understand the nature of withdrawal liability, how to best analyze the risk of withdrawal liability, and how to reduce exposure to withdrawal liability. You will come away with an understanding of successor liability in transactions, as well as controlled group liability, which makes trades or businesses under common control jointly and severally responsible for withdrawal liability. Additionally, the information will outline specific strategies available when employers are preparing to withdraw or are in the need to resolve a dispute with a fund. This material is critical for any employer that contributes to a multiemployer fund.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of Multiemployer Plans
- Brief History of Multiemployer Plans
- Basics of Withdrawal Liability
- Industry-Specific Rules
- Complete Withdrawals and Partial Withdrawals
Controlled Group Rules
- Background on Controlled Groups
- Definition of Trade or Business
Corporate Transactions and Strategies
- Stock Sales
- Asset Sales
- Business Reorganizations
- Expansion of Successor Liability Doctrine
- Strategies to Identify and Avoid Withdrawal Liability in Transactions
Considerations When Preparing to Withdraw
- Information Available From Fund
- 20-Year Cap
- Determination of Withdrawal
- Review of Contribution History
- Submitting Request for Review
Resolving Disputes
- Arbitration Provisions and Rules
- Appeal of Arbitration
- Settlement Strategies
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 26, 2020.
Call 1-866-352-9540 for further credit information.
- ASA 1.5
- This program qualifies for 1.5 continuing education hour(s) towards maintaining your ASA credential. Please contact ASA for more information at [email protected]. Please retain proof of attendance in the event your CE record is audited.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Eric W. Gregory
Dickinson Wright PLLC
- Attorney in the Troy, Michigan office of Dickinson Wright
- Practice emphasizes all aspects of employee benefits and executive compensation law, including qualified retirement plans, welfare plans, and nonqualified compensation programs
- Conducts regular seminars and workshops on numerous employee benefits issues such as ERISA compliance and best practices, avoiding litigation risk for sponsors of retirement plans, and employer fiduciary duties under ERISA
- Author of several publications related to employee benefits such as Surviving an IRS or DOL Retirement Plan Audit: Failing to Prepare is Preparing to Fail, Here Comes the Department of Labor: Retirement Plan Audits Begin for Code Section 401(a)(9) Compliance, and Missing Participants Policy and Procedure
- Awards include Up and Coming Lawyer, Chambers USA 2020 – present; Best Lawyers in America, Employee Benefits (ERISA) Law, 2023; Michigan Super Lawyers Rising Star, 2016 – present; Michigan Lawyers Weekly, Up & Coming Lawyers, Class of 2017; DBusiness Magazine Top Lawyer, Employee Benefits Law, 2016 – present
- Past chair of State Bar of Michigan Taxation Section’s Employee Benefits Committee and past chair of Oakland County Bar Association Employee Benefits Committee
- Taxation Council Member, State Bar of Michigan Taxation Section
- LL.M. degree in taxation, certificate in employee benefits law, Georgetown University Law Center; J.D. degree, Wayne State University; B.A. degree in political theory and constitutional democracy, Phi Beta Kappa, Michigan State University, James Madison College
- Can be contacted at [email protected] or 248-433-7669
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