Federal Judge Approves 12 Percent Interest For Late Pension Fund Repayments

Mealey's (January 4, 2018, 2:44 PM EST) -- NASHVILLE, Tenn. — A pension fund and its board of trustees showed that their claim to 12 percent interest on late withdrawal liability payments and liquidated damages equal to the interest on the unpaid contributions are fair, a Tennessee federal judge ruled Dec. 29, granting the fund and board’s motion for partial summary judgment (PACE Industry Union Management Pension Fund, et al. v. O.E. Clark Paper Box Co., No. 3-15-0163, M.D. Tenn., 2017 U.S. Dist. LEXIS 213239)....