Pension & Benefits News Multiemployer plan requests approval of plan amendment providing for special withdrawal liability rules
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Friday, November 2, 2018

Multiemployer plan requests approval of plan amendment providing for special withdrawal liability rules

By Pension and Benefits Editorial Staff

The Pension Benefit Guaranty Corporation (PBGC) has received a request from a multiemployer plan, the United Food and Commercial Workers International Union—Industry Pension Fund, for approval of a plan amendment providing for special withdrawal liability rules. Under ERISA Sec. 4203(f) and the PBGC’s Extension of Special Withdrawal Liability Rules, a multiemployer pension plan may, with PBGC approval, be amended to provide for special withdrawal liability rules similar to those that apply to the construction and entertainment industries.

The United Food and Commercial Workers International Union—Industry Pension Fund covers unionized employees who predominately work in the retail food industry. The plan’s proposed amendment would create special withdrawal liability rules for employers contributing to the plan whose employees work under a contract or subcontract with federal government agencies and would apply to certain cessations of the obligation to contribute to the plan that have already occurred as well as future cessations. The plan’s submission represents that the industry for which the rules are requested has characteristics similar to those of the construction industry.

Interested persons are invited to submit written comments concerning the pending request, by November 23, 2018, by any of the following methods:

  • Federal eRulemaking Portal: http://www.regulations.gov. Follow the Web site instructions for submitting comments.
  • Email: [email protected]. Refer to the UFCW Industry Plan in the subject line.
  • Mail or Hand Delivery: Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026.

Source: 83 FR 50702.

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