What Construction Companies Need to Know About COVID-19 Related Layoffs and Multiemployer Pension Plan Withdrawal Liability

The COVID-19 pandemic has dramatically impacted the construction industry with international and domestic supply chains shut down, jobsites closed and projects delayed or outright cancelled. In response many construction companies have implemented workforce reductions. But for those companies with unionized workforces that contribute to multiemployer defined benefit pension funds, temporary and permanent workforce reductions present the potential of unknowingly withdrawing from a pension fund and incurring a surprise liability....

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