Pension Trustees Win $6 Million Withdrawal Liability Lawsuit

The trustees of a pension fund won their lawsuit seeking more than $6 million in withdrawal liability from parties connected to a network of commercial truck dealerships.

The Monday opinion from the US District Court for the District of Columbia allows the trustees of the IAM National Pension Fund to collect the full amount of withdrawal liability they assessed, despite a prior payment of nearly $1.8 million by certain defendants. Resolving a question of first impression in the DC Circuit, the court determined that the “United States Rule"—in which payments are first applied to accrued interest and then to the ...