Multiemployer Review: Tools for plans in critical and declining status

The Multiemployer Pension Reform Act of 2014 (MEPRA) was part of the Consolidated and Further Continuing Appropriations Act of 2015, which was signed by President Obama in December. One of the major changes MEPRA has made is the creation of a new status for very poorly funded plans called “critical and declining status.” In this Multiemployer Review, we define this new status and outline major rules and procedures related to plan mergers, plan partitions, and benefit suspensions.