Understanding Employee Benefits
Understanding Employee Benefits and key developments in the employee benefits field and items of interest to our clients. MORE
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. Many of the provisions in this sweeping legislation bring changes to the employee benefits world of which employers should take note and which are summarized below.
Subsidized COBRA
The ARPA contains several new rules which impact COBRA…
I recently blogged about a Seventh Circuit Court of Appeals decision that tagged a buyer of the assets of a company contributing to a multiemployer plan with withdrawal liability that the seller had not paid. A recent Ninth Circuit decision reached the same conclusion in a case where an owner shut down its business, which…
I have blogged in the past about the reach of obligations to multiemployer plans and how other businesses owned by a participating employer can be held responsible for withdrawal liability based upon the common ownership. If one of the businesses is owned personally by an individual, the liability can be personal. A recent case from …
Employers who participate in multiemployer pension funds know that if they withdraw from those funds they may be required to pay withdrawal liability if the plan is underfunded. Employers who sell their assets to an unrelated buyer can avoid that withdrawal liability if the buyer agrees to assume an obligation to contribute to the pension …
