sale of assets

Addresses the applicability of the “sale of assets exception: to the construction industry complete withdrawal rules.

Addresses which of two limitations on withdrawal liability applies—one applicable to a dissolving or liquidating employer, the other applicable to an employer that sold its assets to an unrelated party—when an employer satisfies the prerequisites for both.

Addresses whether an employer that has withdrawn from a multiemployer plan may be relieved of withdrawal liability by a subsequent sale of assets.

Addresses the method of calculating the withdrawal liability of a purchaser of the assets of an unrelated contributing employer.

Addresses the definition of the term “assets” for the purpose of the sale-of-assets exception to withdrawal.

Addresses the “unrelated party” requirement for the sale of assets exception to withdrawal liability.

Addresses applicability to construction industry employers of the sale-of-assets limitation on withdrawal liability.

Addresses the calculation of withdrawal liability in a situation where several members of a controlled group have an obligation to contribute to the same multiemployer pension plan and are sold or liquidated in a series of transactions.

Addresses whether a seller and purchaser can retroactively bring a sale of assets within the coverage of the law by posting an appropriate bond and by amending the sales contract.

Considers the timing of the bond/escrow requirement in a sale of assets and requests that PBGC grant a waiver of the bond/escrow and contract language requirements.