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Where Do We Go Now? The Uncertain Future For 29 U.S.C. § 1301(B)(1), Private Equity Funds, And Multiemployer Pension Plans After Sun Capita, Crighton T. Allen
Where Do We Go Now? The Uncertain Future For 29 U.S.C. § 1301(B)(1), Private Equity Funds, And Multiemployer Pension Plans After Sun Capita, Crighton T. Allen
Georgia Law Review
The United States faces a growing problem concerning corporate indebtedness to pension plans, specifically, multi-employer pension plans (MEPPs). MEPPs are group pension plans in which a number of employers join together to contribute to a fund benefitting all employees of the participating companies. If an employer seeks to withdraw from a MEPP by ceasing to contribute into it, the company faces a withdrawal penalty-its proportionate share of the plan's vested but unfunded benefits. The recent decision by the First Circuit in Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund has the potential to greatly …