If the company wishes to debate the multi-employer model, will a hearing be scheduled in Congress in the near future? A couple of highlighted excerpts from the bill:
`SEC. 4501. TREATMENT OF TEAMSTER PLANS.
`(a) GENERAL RULE- For purposes of this title, a teamster plan shall not be treated as a multiemployer plan, and each employer that has an obligation to contribute to a teamster plan shall be treated as a contributing sponsor maintaining a separate single-employer plan, as provided in this subtitle.
`(b) PARTITION OF LIABILITIES- ..........
`(c) PARTITION OF ASSETS- ..........
`SEC. 308. TEAMSTER PLANS.
`(b) SPECIAL RULES-
`(5) BENEFITS MAY NOT BE INCREASED UNLESS TEAMSTER PLAN IS SUFFICIENTLY FUNDED- In addition to the requirements of section 304(b)(1), no amendment of a teamster plan which increases the liabilities of the plan with respect to an employer by reason of any increase in benefits, any change in the accrual of benefits, or any change in the rate at which benefits become nonforfeitable under the plan shall be adopted and no increase in benefits attributable to an existing provision of a teamster plan (other than an increase that results solely from an increase in a participant's compensation, age or service or other similar factor), including an increase in benefits attributable to an increase in the negotiated contribution, shall take effect unless at the time such increase otherwise would be effective--
In short, Teamster plans would basically fall under the same rules as the single-employer model, which are stricter. Any contributing employer who cannot meet their funding obligations, would default to the
Pension Benefit Guaranty Corporation and won't affect other contributing employers in the plan. Should be an interesting debate.