An employer signed to a collective bargaining agreement may be obligated to make contributions to a multiemployer pension plan. That pension plan is likely severely underfunded. Most contributing employers are generally familiar with the concept of withdrawal liability. They at least know that it’s a big scary number. But, it should not be ...
In our experience, employers generally have procedures in place that ensure immediate termination of access to an employer’s network and computer systems upon the employee’s termination of employment. The termination of access almost always happens right away. And while you may be thinking, yes this is our procedure, do you have audit ...
Most employee benefit plans offered through an employer are subject to ERISA. There is a safe harbor exemption from ERISA for certain voluntary plans. Traditionally, the types of programs that may qualify as voluntary include life, vision, dental, disability, critical-illness and accident insurance plans. However, these benefit programs can ...
Generally, the purchaser in an asset sale is not responsible for liabilities incurred by the seller prior to sale. Of course, there are exceptions. An important exception to the general rule is found in the context of multiemployer pension plans. It’s an exception that can be catastrophic for the unwary buyer. If the buyer has notice of the ...