In March 2024, three class action lawsuits were filed by former plan participants against plan fiduciaries in connection with pension risk transfers to Athene Holding Ltd.
An employer can contest a withdrawal liability assessment and ultimately prevail. That is the moral of Bulk Transport Corp. v. Teamsters Union No. 142 Pension Fund, No. 23-1563.
In a classic man-bites-dog turnaround, a federal appeals court ordered a Teamsters pension fund to return approximately $2 million in withdrawal liability payments to an employer that.
Last Friday, a three-judge panel of the United States Court of Appeals for the Seventh Circuit reversed a district court’s decision upholding an arbitration award requiring an employer.
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