Multi-employer plans are benefit plans established through collective bargaining and managed by an equal number of employer-appointed and union-appointed trustees.
Employers whose employees are covered by the plan are required to make agreed-upon contributions. Such plans may provide pension, health, life and/or other welfare other benefits to covered. Multi-employer plans are subject to a variety of legal requirements, and the trustees of such plans owe fiduciary duties to plan participants and their dependents. Ice Miller's Employee Benefits Group serves as counsel to multi-employer plans, advising trustees on their fiduciary obligations and other legal requirements. We also represent such plans in disputes, including litigation.
In addition to representing multi-employer plans, the Employee Benefits Group represents contributing employers regarding their obligations with respect to such plans. Due to a number of factors, many multi-employer pension funds are experiencing significant financial difficulty. As a result, contributing employers have seen their potential withdrawal liabilities to such plans grow exponentially. We help employers evaluate their options with respect to financially-troubled multi-employer pension plans and, in some cases, negotiating their withdrawal from the plan.