Page 2 - Sofco Erectors Inc News Today

On September 30, 2021, the DOL, HHS, and IRS released an Interim Final Rule (the Rule) regarding the surprise medical billing protections under the No Surprises Act (the Act).

The amount of that assessment is based, in part, on the difference between the value of plan assets and the present value of the plan's future liabilities.

In Sofco Erectors, Inc. v. Trustees of the Ohio Operating Engineers Pension Fund (“Sofco”) (September, 28, 2021), the Sixth Circuit Court of Appeals issued a long awaited decision...

In a rare victory for employers that participate in multiemployer pension plans, the Sixth Circuit Court of Appeals held that the interest rate memorialized in the Segal Blend...

In a highly anticipated and thorough opinion, the 6th Circuit Court of Appeals concluded that use of the Segal Blend by a multiemployer pension plan (MEPP) in calculating an employer’s...

The use of the “Segal Blend” to calculate a company’s withdrawal liability when it withdrew from a multiemployer pension plan violated the Employee Retirement Income Security Act...

In a rare victory for employers that participate in multiemployer pension plans, the Sixth Circuit Court of Appeals held that the interest rate memorialized in the Segal Blend actuarial...

In a rare victory for employers that participate in multiemployer pension plans, the Sixth Circuit Court of Appeals held that the interest rate memorialized in the Segal Blend actuarial assumption was inappropriate to use in a withdrawal liability calculation.

The appellate court has rejected the use of the "Segal Blend" when calculating withdrawal liability.

Because appellate court decisions carry weight with lower courts in a circuit, the ruling could increase the risk for multiemployer plans presented by withdrawing employers.