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Pension Industry Players Closely Watching N.Y. Times Appeal

Jan. 17, 2019, 7:09 PM

A news industry pension plan is again defending how it calculated the New York Times’s liability, saying there’s no legal requirement to use the same interest rates for all liability calculations. A number of other players in the pension industry are weighing in too.

Nothing in the Employee Retirement Income Security Act or U.S. Supreme Court precedent prevents pension funds from using one interest rate to calculate money owed by an employer leaving the plan, and another to determine the ongoing contributions needed to keep the plan funded, the pension fund told the U.S. Court of Appeals for the Second ...