Companies that contribute to multiemployer pension plans are often rightfully worried that corporate restructurings may inadvertently trigger either a complete or a partial withdrawal from the plan. A recent case out of the Third Circuit provides a helpful illustration of the partial withdrawal rules in practice. Caesar’s Entertainment Corp. v. International Union of Operating Engineers
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Pension Plan
Make Sure Participants Know When Their Plan Benefits Have Been Transferred
By Stinson LLP on
Employers need to make sure that their employees know when benefits shift from one plan to another as illustrated by this case from Utah:
Martin Marietta Corporation (Martin) operated a cement plant that it later decided to lease to Southwestern Portland Cement Company (Southwestern). The employees operating the plant became covered by a Southwestern pension…