2nd Circuit:  Interest Rate Assumption Rolls Over Automatically

Mealey's (January 7, 2020, 10:17 AM EST) -- NEW YORK — A panel of the Second Circuit U.S. Court of Appeals on Jan. 2 vacated a New York federal judge’s decision to vacate an arbitration award, concluding that a trust fund cannot select an interest rate assumption and retroactively apply the assumption when calculating withdrawal liability (The National Retirement Fund, et al. v. Metz Culinary Management Inc., No. 17-1211, 2nd Cir., 2020 U.S. App. LEXIS 4)....