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ARTICLE · 19 OCTOBER 2017

New PBGC-Plan Sponsor Pilot Mediation Project For Early Warning Program And Termination Liability Cases

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The PBGC launched a new Pilot Mediation Project to facilitate negotiations with (i) plan sponsors involved in corporate transactions under the purview of the PBGC's Early Warning Program and ...

United StatesEmployment and HR
Justin Alex
Justin Alex
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The Pension Benefit Guaranty Corporation (the "PBGC") launched a new Pilot Mediation Project to facilitate negotiations with (i) plan sponsors involved in corporate transactions under the purview of the PBGC's Early Warning Program and (ii) the former plan sponsors of terminated pension plans that are subject to termination liability for the plans' unfunded benefit liabilities.

The Pilot Mediation Project is voluntary and the PBGC will only offer it in certain cases. The PBGC stated that a case will generally not be eligible for the Pilot Mediation Project if (i) the plan sponsor has a minimal ability to pay, (ii) there is a pending court proceeding, or (iii) there is limited time to act and the plan sponsor has declined to sign a standstill or tolling agreement. If a case is selected for the Pilot Mediation Project and the plan sponsor agrees to mediation, the Federal Mediation and Conciliation Service (the "FMCS") will provide the mediator(s) pursuant to an

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