M & K Employee Solutions, Inc. v. Trustees of IAM Nat. Pension · ¶24

Petitioners are four employers who used to contribute to the Fund. Each withdrew from the Fund between April and December 2018. Pursuant to § 1391, the Fund assessed each employer's withdrawal liability “as of” December 31, 2017 (the last day of the plan year preceding the year in which they withdrew). The Fund applied the 6.50% discount rate adopted in January 2018 to calculate their withdrawal liability. Using the 6.50% discount rate, as compared to the previously adopted 7.50% discount rate, dramatically increased petitioners' withdrawal liability; M&K Employee Solutions, for example, was assessed withdrawal liability of around $6.2 million, whereas it would have owed only around $1.8 million using the prior assumptions.

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