What happens if your company stops contributions to a mulitemployer (union) defined benefit pension plan?
An employer who ceases to make contributions to a defined benefit multiemployer plan may be assessed a portion of any unfunded liability of the plan which is called withdrawal liability. Trades or businesses related to the employer who ceases to contribute to a multiemployer plan may also be responsible to pay the assessment even though they had no relationship with the union and plan in question.
Related Questions
- How am I affected if I leave my job at a company that just changed its pension plan from a traditional defined benefit formula to a cash balance plan formula?
- What happens if your company stops contributions to a mulitemployer (union) defined benefit pension plan?
- Where are employee contributions to a defined benefit pension plan entered?
