Next week, the Supreme Court will hear oral argument in its first withdrawal liability case in 30 years.
Next week, the Supreme Court will hear oral argument in its first withdrawal liability case in 30 years. In this first installment of a multi-part series, senior counsel Neil Shah and partner Justin Alex explain what withdrawal liability is, why it matters, and the key considerations to look out for going forward.
Neil Shah: Welcome to the Proskauer Benefits Brief, legal insight on compensation and benefits. I'm Neil Shah, senior counsel at Proskauer.
Justin Alex: And I'm Justin Alex, a partner at Proskauer.
Neil Shah: Later this month, the Supreme Court will hear our argument in the first withdrawal liability case in roughly 30 years. The question in the case is whether there's a deadline for picking the actuarial methods and assumptions used to calculate withdrawal liability.
Now, if you're thinking, what is withdrawal liability, and why should I care? Well, this series is for you. We're going to cover what it is, how plans calculate it, who can be on the hook, and how it comes up in mergers and acquisitions, private credit, labor negotiations, real estate and various areas of practice.
Now, you may never love withdrawal liability, but by the end, we hope that you'll know what to do if it ever comes knocking. So, Justin, why don't you give us a synopsis of what withdrawal liability is and how it comes up in our own practice?
Justin Alex: So, withdrawal liability is...
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