• Multiemployer Pension Plans: Mitigating Risk in the Context of a Business Transaction

  • Feb 22 2024
  • Length: 11 mins
  • Podcast

Multiemployer Pension Plans: Mitigating Risk in the Context of a Business Transaction

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  • Summary

  • Andrew Graw, Taryn Cannataro, and Jessica Kriegsfield of Lowenstein Sandler's Employee Benefits and Executive Compensation Practice Group address multi-employer pension plans in the context of a business transaction, providing listeners with an overview of considerations and areas of potential liability plus tips on how to mitigate these issues. A multi-employer plan is comprised of various unrelated employers who make contributions on behalf of a unionized workforce; these contributions are based on a collective bargaining agreement, so failure to make those contributions or certain types of withdrawals can result in liability for the acquirer or the target. The lawyers advise inquiring about the funding status of the plan, considering the impact of changes in the workforce post-closing, and addressing potential withdrawal liability in the purchase agreement before closing a business transaction when a multi-employer plan is involved.

    Speakers:

    Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
    Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
    Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation
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