Greg Ossi Discusses Proposed Pension Benefit Guaranty Corporation Rule With Law360

In “5 Policy Moves Benefits Attys Should Watch For In 2024,” benefits and executive compensation partner Greg Ossi spoke to Law360 about a delayed final rule from the Pension Benefit Guaranty Corporation (PBGC) that would set out requirements for interest rate assumptions used to determine withdrawal liability for businesses that pull out of multiemployer pension plans.

Ossi said the idea of setting a range of rates in the regulations is out of step with the Employee Retirement Income Security Act (ERISA), and he is watching for action on the proposal in 2024 but hopes there isn’t any.

“I’m hoping they come to their senses and realize that they can’t — despite Congress’s provision — they can’t actually come up with an interest rate that fits the limited authority they’ve been given under the statute,” Ossi noted.

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