Single Highest Contribution Rate Must Be Applied To Repayment, Panel Affirms

Mealey's (September 17, 2015, 2:13 PM EDT) -- PHILADELPHIA — In choosing to repay a withdrawal from a pension fund through annual payments, the contributor must pay the single highest contribution rate listed in the collective bargaining agreements (CBAs), rather than averaging the rates in the applicable CBAs, but is not required to pay a surcharge as part of its repayment, the Third Circuit U.S. Court of Appeals said Sept. 16 (Board of Trustees of the IBT Local 863 Pension Fund v. C&S Wholesale Grocers Inc., et al., Nos. 14-1956 and 14-1957, 3rd Cir.;...
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