What to Expect from Multiemployer Pension Plans Following the COVID-19 Crisis

The COVID-19 crisis portends a new and troubling outlook for employers participating in multiemployer pension plans. Many plans have been recovering from the financial damage caused by the 2007-2009 recession; the COVID-19 crisis threatens those recoveries. Proactive employers participating in multiemployer plans should anticipate the detrimental impact the pandemic will have on multiemployer plans and how it will affect them and the retirement benefits of their unionized employees. Please join us for an overview of COVID-19’s potential effect on multiemployer pension plans as we discuss proactive strategies to help you stay on the path to continued recovery.

Topics

• Multiemployer pension plan trends during and after COVID-19
• Potential increases in contribution rates and withdrawal liability
• Potential increases in risk of personal liability
• Mass withdrawals
• Plan insolvency and benefit reductions
• Possible legislation and financial assistance
• Planning ahead

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