The Eighth Circuit affirmed a district court decision upholding an arbitrator’s ruling that General Electric Co. qualified for the building and construction industry exemption from withdrawal liability under ERISA and Multiemployer Pension Plan Amendments Act, rejecting the Boilermaker-Blacksmith National Pension Trust’s $227 million in withdrawal assessments because the cumulative headcount method better reflects congressional intent for determining whether substantially all boilermaker employees work in construction.
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