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Actuarial Firms Back Redo of $115 Million Pension Bill Decision

Aug. 11, 2022, 6:57 PM

Segal Group Inc., Milliman Inc., and other actuarial firms are calling on the D.C. Circuit to rethink its July decision allowing Energy West Mining Corp. to avoid a $115 million bill after withdrawing from a multiemployer pension fund.

The decision by the US Court of Appeals for the D.C. Circuit misapplies statutory requirements, improperly interferes with the discretion of actuaries, and will “imperil the financial security” of multiemployer pension funds covering 12 million people, the firms said in an amicus brief Wednesday.

The decision creates additional incentives for employers to withdraw from these plans, because it allows them to reap ...