Ten years from now there may well be no more Employee Retirement Income Security Act (ERISA) class actions. The law, like the rest of life, is not immune from disruptive innovations. In our own lifetime, we have seen disruptive innovations from chemical photography to digital photography, from personal computers to smart phones, and from snail
Congratulations and special thanks to Lisa Brogan (Chair), Editor, and Contributors James Baker, Jordan Faykus, and Jenna Neumann for their contributions to the 2019 Edition of The ABA Business Law Section, Recent Developments In Business and Corporate Litigation; Chapter 20: ERISA.
Covered topics include:
- US Supreme Court on church plan exemptions;
- The standard of review
Employers facing potential withdrawal liability when closing facilities or withdrawing from underfunded multiemployer pension plans received some welcome news last month. In a noteworthy decision, a federal district court rejected a commonly used formula to calculate withdrawal liability. In the decision in The New York Times Company v. Newspaper and Mail Deliverers’-Publishers’ Pension Fund, et al., Nos. 17-CV-6178-RWS, 17-CV-6290-RWS (S.D.N.Y. Mar. 26, 2018), the court held that use of the so-called Segal Blend method of valuing a plan’s unfunded vested benefits to calculate withdrawal liability was a “mistake” and without statutory support under ERISA.
Continue Reading Actuary’s Assumptions Regarding Withdrawal Liability Rejected