PBGC Liabilities: Corporate Exposure, Pitfalls and Strategies

Navigating the Complexities of the Early Warning Program, Downsizing Liability, and Distress and Involuntary Terminations

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

Conducted on Thursday, October 27, 2011

Recorded event now available

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Program Materials

This CLE webinar will analyze the legal and practical considerations companies and their advisors need to understand to deal effectively with PBGC in a variety of contexts.

Description

As financially strapped companies with underfunded single-employer pension plans restructure, both in and out of bankruptcy, they must adhere to complex rules for plan terminations and liabilities to the Pension Benefit Guaranty Corporation and employ effective negotiation strategies for dealing with PBGC.

Distressed and sound companies alike must deal with PBGC’s involvement in corporate transactions under its Early Warning Program, as well as with PBGC’s aggressive pursuit of downsizing liability based on common corporate events such as going-concern asset sales or relocations of operations.

PBGC’s approach to downsizing liability, as reflected in its proposed rule, has raised significant concerns. While PBGC has stated it will revisit its proposal, companies now must contend with PBGC’s current approach to downsizing liability and know how to effectively negotiate with the agency.

Listen as our authoritative panel of ERISA attorneys guides you through the rules for distress and involuntary pension plan terminations, the PBGC's Early Warning Program and Section 4062(e) downsizing liability and provides effective strategies for negotiating with PBGC.

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Outline

  1. Dealing with PBGC involvement in corporate transactions under the Early Warning Program
  2. Strategies for minimizing or eliminating Section 4062(e) downsizing liability
  3. Navigating the thicket of rules governing distress and involuntary plan terminations
  4. Dealing with PBGC claims in and out of bankruptcy

Benefits

The panel will review these and other key questions:

  • What PBGC reporting requirements are most often missed, and what are the consequences?
  • What are the best strategies for negotiating with PBGC under its Early Warning Program?
  • What are the pitfalls to avoid and the strategies to follow in connection with Section 4062(e) downsizing liability?
  • What does it take to terminate an underfunded pension plan and how can the resulting liabilities best be dealt with?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Harold J. Ashner
Harold J. Ashner
Partner
Keightley & Ashner

He served as PBGC’s assistant general counsel for legislation and regulations until 2005, when he established...  |  Read More

Robert A. Miller
Robert A. Miller
Partner
Calfee Halter & Griswold

His principal focus is employee benefits and executive compensation law. He counsels publicly-traded and closely-held...  |  Read More

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