2015.07.27 Unknown Amount of ERISA Pension Liability Does Not Save Asset Purchaser (7th Cir.)
Notice of a seller’s ERISA liability is the threshold condition for applying the federal common law of successor liability to an asset purchaser. In the world of multiemployer (union) pension plans, ”[t]he precise amount of withdrawal liability is not ascertainable pre-acquisition if, as here, the employer is found to have withdrawn after it has sold its assets.” That quote comes from a 7th Circuit holding that for equitable, policy-based reasons . . . continued at ERISA Title IV Liability.
2015.07.17 Severance Policy Established ERISA Plan – 2nd Circuit Delineates Test; Reinstates Claims
Applying a three-part test, the Second Circuit held in Okun v Montefiore Medical Center that an ERISA-governed severance plan arose from a policy that represented "a multi-decade commitment to provide severance benefits to a broad class of employees under a variety of circumstances and requires an individualize review whenever certain covered employees are terminated." The 2nd Circuit's decision should remind employers about the two-edged cut of ERISA in that . . . continued at Severance Litigation.
Other Notable Updates:
2013.Dec.26 HIPAA Settlement Agreement - see HIPAA Litigation.
2013.Dec.13 Employer "Stock Drop" Litigation - Supreme Court to Address: see Stock Drop Litigation; see also Stock Drop Litigation Results (for Judgments and Settlements).
2013.Nov.20 Coverage for Defense Costs during DOL Investigations? See Fiduciary Defense and Indemnification.
2013.Nov.01 IRS COLA $$$for 2014: see Plan Limits.
2013.July.6 COBRA Procedural System Insights . . . for less than $1.85 Million: see COBRA Litigation.