Supreme Court Upholds Changes to Multiemployer Pension Plan Withdrawal Liability Assumptions

The U.S. Supreme Court unanimously ruled that the Employee Retirement Income Security Act of 1974 (ERISA) permits multiemployer pension plans to change their actuarial assumptions for withdrawal liability even after an employer's withdrawal liability measurement date. The Court affirmed that ERISA only requires actuarial assumptions to be reasonable and reflect the actuary's best estimate of anticipated experience.