New PBGC Interim Final Rule: Special Financial Assistance, Withdrawal Liability Rules, Contribution Obligations

Navigating New Rules and Requirements Under ARPA and the Impact to Multiemployer Plans and Participating Employers

Recording of a 90-minute premium CLE video webinar with Q&A


Conducted on Tuesday, September 14, 2021

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will provide a thorough and practical guide for employers, investors, employee benefits counsel and plan personnel seeking to understand withdrawal liability in general as well as the anticipated impact of the PBGC'’s final interim rule on contributing employers that participate in funds receiving special financial assistance (SFA).

Description

On July 9, 2021, the PBGC issued an interim final rule for the SFA program in the American Rescue Plan Act. The new regulations provide guidance on the application process for the SFA along with critical changes to multiemployer withdrawal liability rules.

The new regulations provide guidance on the application process for the SFA, related restrictions, and requirements. This program provides eligible plans funds required to pay all benefits due to the last day of the plan year ending in 2051 in one payment. In addition, the new rules provide significant changes to employer withdrawals, calculations, assumptions, and settlements for plans receiving SFA.

Listen as our panel discusses the new regulations and guidance on the application process for SFA, plan eligibility, limitations on reductions in contributions, investment restrictions, and new withdrawal liability rules and key considerations for participating employers under the new regulations.

READ MORE

Outline

  1. Overview of new PBGC interim final rule
  2. New special financial assistance program
    1. Determining eligibility
    2. Calculating SFA and disregarded events
    3. Application process, priority groups, deadlines
    4. Restrictions on use and investments
  3. New withdrawal liability rules
  4. Next steps for multiemployer plans and participating employers

Benefits

The panel will review these and other key issues:

  • What is withdrawal liability and how is it triggered?
  • How is withdrawal liability calculated and assessed?
  • What are an employer's rights and responsibilities when it is assessed withdrawal liability?
  • How is withdrawal liability handled in a business transaction?
  • How will the SFA program work?
  • What are the key provisions of the PBGC interim final rule impacting withdrawal liability?
  • What is the impact on withdrawal liability calculations, interest assumptions, and settlements?
  • What are the next steps for multiemployer plans and participating employers?

Faculty

French, Taylor
Taylor Wedge French

Partner
McGuireWoods

Mr. French's employee benefits practice covers a wide-range of traditional executive compensation and employee...  |  Read More

Wynne, Robert
Robert B. Wynne

Attorney
McGuireWoods

Mr. Wynne practices in the firm's tax and employee benefits department, where he advises public and private...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

Download