Justices Doubt the Necessity of Outdated Assumptions in Pension Plan Assessments
During the recent oral arguments in M&K Employee Solutions v. Trustees of the IAM National Pension Fund, the Supreme Court justices expressed skepticism regarding the requirement for actuaries to rely on outdated assumptions when calculating costs associated with leaving a multiemployer pension plan. This case raises significant questions about the methodologies used in pension fund assessments, particularly in the context of defined-benefit plans, which are often more complex than their defined-contribution counterparts. The Nature of Multiemployer Pension Plans Multiemployer pension plans are arrangements where several employers from the same industry collaborate to provide retirement benefits … Read more