BarbriSFCourseDetails
  1. keyboard_arrow_leftBack

Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Bankruptcy

Date & Time
  • event Date

    Thursday, February 20, 2025

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

This CLE webinar will offer guidance on several key areas where employee benefits law, namely the Employee Retirement Income Security Act of 1974 (ERISA), and bankruptcy law intersect. The program will discuss pension plan termination and withdrawal liability and claims, fiduciary duties in plan administration and termination, and how an individual debtor can shield retirement income from creditor claims. The panel will also consider the Department of Labor's revised Abandoned Plan Program and what happens to health and welfare plans for existing and retired employees and certain types of unusual plans and compensation programs.

Faculty

Dannae Delano
Partner
The Wagner Law Group, LLP

Ms. Delano concentrates her practice in employee benefits law, executive compensation and taxation. She counsels clients on all aspects of employee benefits design, implementation, termination, and compliance for retirement plans, health and welfare plans, and executive and incentive compensation arrangements. In the process, Ms. Delano focuses on comprehensive, practical and innovative employee benefits solutions for all types of employers

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Israel Goldowitz
Partner
The Wagner Law Group, LLP

Mr. Goldowitz has more than 35 years of experience in employee benefits, most notably with mergers and acquisitions, restructuring, and bankruptcy as they affect pension plans. As the Chief Counsel for the Pension Benefit Guaranty Corporation (PBGC), he led the legal teams that helped save the pensions of such companies as Chrysler and American Airlines. Working closely with financial analysts, actuaries and outside advisors, Mr. Goldowitz also led the legal teams that negotiated pension protections with such companies as Sears and Gannett, lending to his unique experience in the mitigation of risks to pensions resulting from corporate transactions, including mergers, acquisitions, secured borrowing and downsizing.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio

Description

Unfunded pension plan liability and other benefits issues are often the precipitating factors that drive a company into bankruptcy where debtors will have to decide whether to continue or terminate benefit plans, with all the attendant consequences. Navigating employee benefits issues in bankruptcy frequently turns on whether the Bankruptcy Code or ERISA is the controlling law.

In certain situations, the Bankruptcy Code will actually override ERISA. In other situations, ERISA and the Bankruptcy Code can be harmonized, and in still other situations, which law trumps the other remains open to debate. For example, bankruptcy courts may choose to determine pension plan withdrawal liability as part of the claims allowance process notwithstanding alternative dispute resolution mechanisms required by ERISA. And how to calculate claims of the Pension Benefit Guaranty Corp. has long been subject to confusion, debate, and challenge.

Health and welfare plans cannot be ignored. These may be of particular concern when the debtor provides retiree medical benefits.

Listen as our expert panel of bankruptcy and employee benefits lawyers discusses navigating the intersection of bankruptcy and employee benefits law whether the employer intends to reorganize or sell assets, and issues of concern to individual debtors.

Outline

  1. Defined benefit pension plans
    1. Single employer plans
    2. Multiemployer plans
    3. Termination issues and liability
  2. Health and welfare plans
  3. Special considerations in Section 363 sales
  4. Fiduciary duties in the administration and termination of pension and welfare plans
  5. Issues for individual debtors
  6. Recent cases

Benefits

The panel will review these and other key issues:

  • Are contingent withdrawal liability claims "claims" under the Bankruptcy Code?
  • For purposes of determining a PBGC or withdrawal liability claim, must the ERISA valuation regs be followed?
  • Does it matter if pension contributions are required by statute?