Multiple Publications Quote Seong Kim on Impact of Supreme Court ERISA Ruling

Law360, SHRM, and Westlaw Today each quoted Seong Kim, partner in Seyfarth’s Employee Benefits practice, following the US Supreme Court’s unanimous decision affirming that multiemployer pension plan actuaries may adopt withdrawal‑liability assumptions after the measurement date.

The coverage examines how the ruling is expected to increase potential withdrawal liability exposure and create greater uncertainty for participating employers.

Kim emphasized the significance of the decision for employers considering withdrawal, noting in Law360: “It’s a big deal. I think it potentially opens up the employers to larger withdrawal liability, for sure.”

He told SHRM that the ruling represents a major win for plan sponsors and a cautionary development for contributing employers, explaining: “The decision is a significant victory for plan sponsors of underfunded multiemployer pension plans and something that all contributing employers should be aware of, in terms of how their withdrawal liability exposure can significantly increase from participation in such plans.”

In Westlaw Today, Kim highlighted the increased discretion now afforded to plan sponsors and actuaries, stating: “This ruling provides plan sponsors and actuaries with significantly more discretion in choosing assumptions for calculating withdrawal liability, including which ‘discount rate’ to use for determining how future benefit payments are discounted back to their present value.”

The full articles are available here:

• Law360: Justices’ ERISA Ruling May Raise Withdrawal Liability Costs

• SHRM: ‘Withdrawal Liability’ May Rise After Supreme Court Decision

• Westlaw Today: SCOTUS affirms D.C. Circuit ruling on multiemployer pension plan exit assumptions