Employee Benefits partner Howard Pianko is scheduled to be a panelist at the 2012 International Pension & Employee Benefits Lawyers Association (IPEBLA) Conference on April 24 in Jamaica. Due to low interest rates, poor fund performance or failure of the employer, pension funds may be substantially underfunded and no one may be available to fund the shortfall. Howard’s panel will answer: How should pension obligations be reduced to conform to available funding? What are the best approaches from a policy point of view? What legal or other principles ought to apply to unilaterally reduce entitlements that are unconditionally “vested”? What legal remedies may be available to plan members? To regulators? What if an insurer from whom annuities have been purchased fails, does the liability pass back to the plan or employer?
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