Publication
SW Benefits Update: COVID-19 Relief Package Hands 30 Years of Relief to Underfunded Multiemployer Plans
By Marvin S. ("Bucky") Swift, Jr. and Amberlee Conley
Even before COVID-19 changed everything, unions and participating employers held out hope for federal assistance for severely underfunded multiemployer pension plans, which threatened the payment of retirement benefits across the country. Varying forms of relief have been raised in Congress to address the issue in recent years, including H.R. 397 (i.e., the Butch-Lewis Act), which passed the House in July 2019 and, if enacted, would have offered loans to certain severely underfunded multiemployer plans.
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
