Stevens Engineers & Constructors, Inc. doesn’t owe withdrawal liability to the Iron Workers Local 17 Pension Fund because the work identified by the union did not fall with the jurisdiction of their previous collective bargaining agreement. The decision is a blow for the distressed Iron Workers pension fund, which is severely underfunded with a deficit…

Federal lawmakers are trying to come up with a way to protect the pensions of more than one million union workers. Several options have been offered, none have been accepted. The latest offer comes from union crony Ohio Senator Sherrod Brown and Massachusetts Representative Richard Neal. Their bills came the same day the Pension Benefit…

Some 114 multiemployer pension funds are on track to fail within the next 20 years. These funds, covering 1.3 million workers, are currently $36.4 billion underfunded. The funds have total assets of $43.5 billion and liabilities of $79.9 billion. Most of that shortfall is attributed to the Central States Teamsters plan ($17.2 billion), the Bakery…

Many of my clients are suffocating under the weight of unfunded pension liabilities. They ask me what happens if they sell the company, what happens if they get rid of the union, what happens if they file bankruptcy, etc. While answering each of those questions depends on a myriad of specific facts and legal analysis,…