On December 11th, we reported on the proposed Multiemployer Pension Reform Act of 2014 (MPRA).
We can now report that President Obama enacted this legislation on Tuesday, December 16th as part of the $1.1 trillion spending bill for 2015. The final MPRA is identical in substance to the draft legislation that we reported on earlier (click here for the final 57-page version of the MPRA ).
On January 14, 2015, Seyfarth ERISA litigation and benefits attorneys will provide an overview of the MPRA, and what it means for employers.
Topics to be addressed include:
- Benefit reduction process for deeply troubled plans
- New merger and partition rules
- Disregard of surcharges and certain contribution increases in withdrawal liability payment schedules
- New required plan disclosures
- Withdrawal liability calculations post MPRA