The federal pension insurance agency is jumping into a Second Circuit appeal that could redefine how much employers pay when they leave pension plans for unionized workers.
The Pension Benefit Guaranty Corp. Oct. 31 signaled its support for a newspaper workers pension fund that’s trying to force the New York Times to cough up more than $33 million in connection with its alleged exit from the fund. The PBGC made an appearance in the case, indicating its intention to file a brief supporting the pension fund.
The case is significant because it challenges the “Segal Blend,” a common method that ...