Justices Urged to Curb Pension Actuary Discretion on Exit Bills

M&K Employee Solutions LLC urged the US Supreme Court to limit pension actuaries’s discretion when calculating the money owed by companies that leave their plans, saying federal pension law regulates these issues in “meticulous detail.”

Federal law dictates that a company’s withdrawal liability be calculated “as of” the end of the prior calendar year, M&K said. Allowing pension actuaries to make these calculations using interest rates and assumptions they adopt after that date would flout the statutory text and introduce massive uncertainty and wild swings in liability into a world that’s heavily regulated by federal law, M&K said in a ...