Withdrawal Liability definition: Copy, customize, and use instantly
Introduction
The term "Withdrawal Liability" refers to the financial obligation of an employer when it ceases participation in a multi-employer pension plan. Withdrawal liability is designed to ensure that the plan remains financially viable after the employer's withdrawal. This liability is calculated based on the employer’s share of the plan’s unfunded vested benefits. Clearly defining "Withdrawal Liability" in a contract is crucial for ensuring that the parties understand their obligations in the event of a withdrawal from the pension plan.
Below are various examples of how "Withdrawal Liability" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Withdrawal Liability" as a financial obligation
This definition ties "Withdrawal Liability" to the financial obligation of an employer upon withdrawal from a pension plan.
"Withdrawal Liability" means the financial obligation of an employer upon its withdrawal from a multi-employer pension plan, including the employer’s share of the plan’s unfunded vested benefits, as determined under the applicable law and regulations.
Definition of "Withdrawal Liability" as an employer’s share of unfunded benefits
This definition connects "Withdrawal Liability" to the employer’s responsibility for unfunded vested benefits in a pension plan.
"Withdrawal Liability" refers to the employer’s share of the unfunded vested benefits in a multi-employer pension plan, calculated according to the provisions of the Employee Retirement Income Security Act (ERISA) and related regulations.
Definition of "Withdrawal Liability" as a legal obligation upon plan termination
This definition links "Withdrawal Liability" to the legal obligation incurred when an employer terminates its participation in a pension plan.
"Withdrawal Liability" means the amount an employer is required to pay to a multi-employer pension plan upon the termination of its participation, calculated in accordance with the plan’s rules and applicable federal regulations.
Definition of "Withdrawal Liability" as an assessment after withdrawal from a pension plan
This definition applies "Withdrawal Liability" to the assessment an employer faces after withdrawing from a pension plan.
"Withdrawal Liability" refers to the amount an employer must pay to a multi-employer pension plan after the employer's withdrawal, determined based on the plan’s unfunded vested benefits and other factors as required by law.
Definition of "Withdrawal Liability" as a pension plan’s unfunded vested benefits
This definition ties "Withdrawal Liability" to the unfunded vested benefits of a pension plan when an employer withdraws.
"Withdrawal Liability" means the employer’s proportional share of the pension plan’s unfunded vested benefits, calculated in accordance with the rules set forth under the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA).
Definition of "Withdrawal Liability" as a cost of ceasing plan participation
This definition connects "Withdrawal Liability" to the costs associated with ceasing participation in a multi-employer pension plan.
"Withdrawal Liability" refers to the employer’s financial responsibility, including the payment of its share of unfunded vested benefits, upon ceasing participation in a multi-employer pension plan.
Definition of "Withdrawal Liability" as a liability under federal law
This definition links "Withdrawal Liability" to the liability an employer faces under federal law upon withdrawing from a pension plan.
"Withdrawal Liability" means the amount determined by the plan to be due from an employer under federal law, specifically under ERISA, for its share of the unfunded vested benefits of a multi-employer pension plan upon withdrawal.
Definition of "Withdrawal Liability" as a calculation of vested benefit obligations
This definition applies "Withdrawal Liability" to the calculation of vested benefit obligations owed by an employer upon withdrawal from a plan.
"Withdrawal Liability" refers to the calculation of an employer’s obligations based on the plan’s unfunded vested benefits and the employer’s contribution history, as required under applicable pension plan regulations.
Definition of "Withdrawal Liability" as a negotiated amount upon withdrawal
This definition ties "Withdrawal Liability" to the negotiated amount an employer may owe upon withdrawing from the pension plan.
"Withdrawal Liability" means the amount that an employer and the pension plan agree upon as the employer’s financial obligation upon withdrawal, subject to the provisions of the pension plan and applicable law.
Definition of "Withdrawal Liability" as a financial settlement upon withdrawal
This definition connects "Withdrawal Liability" to the financial settlement an employer is required to make upon withdrawing from a multi-employer pension plan.
"Withdrawal Liability" refers to the financial settlement required from an employer to cover its share of the unfunded vested benefits of a pension plan upon its withdrawal, as calculated under applicable legal standards.
Definition of "Withdrawal Liability" as a payment schedule for withdrawal
This definition links "Withdrawal Liability" to the payment schedule required of an employer after withdrawal from a pension plan.
"Withdrawal Liability" means the employer’s obligation to make payments to the pension plan for its share of the unfunded vested benefits, which may be payable over a period of time as determined by the terms of the pension plan.
Definition of "Withdrawal Liability" as the pension plan’s future benefit obligations
This definition ties "Withdrawal Liability" to the future benefit obligations of a pension plan after an employer withdraws.
"Withdrawal Liability" refers to an employer’s share of the pension plan’s future benefit obligations, calculated in accordance with the plan’s rules and applicable legal requirements, to be paid upon the employer’s withdrawal from the plan.
Definition of "Withdrawal Liability" as an employer’s portion of plan deficit
This definition applies "Withdrawal Liability" to the employer’s portion of the deficit in a pension plan’s funding upon withdrawal.
"Withdrawal Liability" means the amount determined by the plan to cover an employer’s portion of any funding deficit in the pension plan, which is payable upon the employer’s withdrawal from the plan.
Definition of "Withdrawal Liability" as an employer’s portion of unfunded vested benefits
This definition connects "Withdrawal Liability" to an employer’s financial obligation for unfunded vested benefits at the time of withdrawal.
"Withdrawal Liability" refers to the financial obligation of an employer for its portion of the unfunded vested benefits of a pension plan, calculated and payable upon the employer’s withdrawal from the plan.
Definition of "Withdrawal Liability" as a termination obligation for withdrawing employers
This definition ties "Withdrawal Liability" to the obligation that arises when an employer terminates its participation in a pension plan.
"Withdrawal Liability" means the obligation of an employer who terminates its participation in a multi-employer pension plan, including the employer’s share of the unfunded vested benefits of the plan.
Definition of "Withdrawal Liability" as an assessment for partial withdrawal
This definition connects "Withdrawal Liability" to the assessment that occurs in the case of a partial withdrawal from a pension plan.
"Withdrawal Liability" refers to the amount an employer is assessed when it partially withdraws from a multi-employer pension plan, based on its share of the plan’s unfunded vested benefits.
Definition of "Withdrawal Liability" as the total amount due to a pension plan
This definition links "Withdrawal Liability" to the total amount an employer owes to a pension plan after withdrawal.
"Withdrawal Liability" means the total amount an employer is required to pay to a pension plan upon withdrawal, including any assessments related to the employer’s share of the plan’s unfunded vested benefits.
Definition of "Withdrawal Liability" as a contingent financial obligation
This definition applies "Withdrawal Liability" to a contingent financial obligation an employer may face upon withdrawal.
"Withdrawal Liability" refers to a contingent financial obligation of an employer that becomes due upon its withdrawal from a pension plan, calculated according to the plan’s rules and applicable law.
Definition of "Withdrawal Liability" as a calculation based on contribution history
This definition ties "Withdrawal Liability" to the calculation based on the employer’s contribution history to the pension plan.
"Withdrawal Liability" means the financial obligation of an employer, calculated based on its contribution history to the pension plan and its share of the unfunded vested benefits, upon its withdrawal from the plan.
Definition of "Withdrawal Liability" as a financial responsibility for terminating employers
This definition links "Withdrawal Liability" to the financial responsibility of employers who terminate their participation in the pension plan.
"Withdrawal Liability" refers to the financial responsibility of an employer for its portion of the pension plan’s unfunded vested benefits, which becomes due upon the employer’s termination of participation in the plan.
Definition of "Withdrawal Liability" as a liability for pension underfunding
This definition connects "Withdrawal Liability" to the obligation arising from pension underfunding when an employer withdraws.
"Withdrawal Liability" refers to the liability an employer incurs to cover its share of a multi-employer pension plan’s underfunded obligations, calculated in accordance with federal law.
Definition of "Withdrawal Liability" as a financial obligation due to plan termination
This definition links "Withdrawal Liability" to the financial obligation resulting from the termination of participation in a pension plan.
"Withdrawal Liability" means the financial obligation an employer has upon ceasing its participation in a multi-employer pension plan, including its share of the plan’s unfunded vested benefits.
Definition of "Withdrawal Liability" as a withdrawal-based assessment
This definition ties "Withdrawal Liability" to the assessment that occurs when an employer withdraws from a pension plan.
"Withdrawal Liability" refers to the amount assessed to an employer based on its share of the pension plan’s unfunded vested benefits upon its withdrawal.
Definition of "Withdrawal Liability" as the obligation after employer’s withdrawal
This definition connects "Withdrawal Liability" to the obligation owed by an employer after withdrawal from the pension plan.
"Withdrawal Liability" means the amount an employer owes to a multi-employer pension plan after its withdrawal, calculated based on the plan’s unfunded vested benefits.
Definition of "Withdrawal Liability" as pension benefit coverage obligation
This definition links "Withdrawal Liability" to the employer’s obligation to cover its portion of pension benefits upon withdrawal.
"Withdrawal Liability" refers to the employer’s responsibility to cover its share of the pension benefits in a multi-employer plan when it withdraws, calculated in accordance with the plan’s rules.
Definition of "Withdrawal Liability" as an allocation of pension plan debt
This definition ties "Withdrawal Liability" to the allocation of pension plan debt when an employer withdraws.
"Withdrawal Liability" means the employer’s share of the pension plan’s debt or unfunded obligations, payable upon the employer’s withdrawal from the plan.
Definition of "Withdrawal Liability" as an employer’s share of plan funding deficiency
This definition connects "Withdrawal Liability" to an employer’s share of a pension plan’s funding deficiency when the employer withdraws.
"Withdrawal Liability" refers to the portion of the pension plan’s funding deficiency that an employer must pay upon withdrawal from the plan, calculated in accordance with the plan’s terms.
Definition of "Withdrawal Liability" as employer liability for pension obligations
This definition ties "Withdrawal Liability" to an employer’s liability for pension obligations incurred at the time of withdrawal.
"Withdrawal Liability" means the liability incurred by an employer upon withdrawal from a multi-employer pension plan, covering its share of the plan’s unfunded obligations.
Definition of "Withdrawal Liability" as a payment requirement after employer withdrawal
This definition links "Withdrawal Liability" to the payment requirement imposed on an employer following its withdrawal.
"Withdrawal Liability" refers to the amount an employer is required to pay after withdrawing from a pension plan, based on its share of the plan’s unfunded vested benefits.
Definition of "Withdrawal Liability" as multi-employer pension plan contribution
This definition connects "Withdrawal Liability" to the employer’s contribution to a multi-employer pension plan after withdrawal.
"Withdrawal Liability" means the employer’s obligation to contribute to the pension plan’s unfunded vested benefits upon its withdrawal from the plan.
Definition of "Withdrawal Liability" as responsibility for withdrawal from a pension plan
This definition ties "Withdrawal Liability" to the employer’s responsibility for covering its share of pension liabilities after withdrawal.
"Withdrawal Liability" refers to the amount owed by an employer upon its withdrawal from a multi-employer pension plan, representing its share of the plan’s unfunded obligations.
Definition of "Withdrawal Liability" as the withdrawal-based financial responsibility
This definition connects "Withdrawal Liability" to the financial responsibility incurred when an employer withdraws.
"Withdrawal Liability" means the amount of financial responsibility an employer incurs for its share of a pension plan’s unfunded benefits upon its withdrawal.
Definition of "Withdrawal Liability" as an employer’s debt to a pension fund
This definition links "Withdrawal Liability" to the debt an employer owes to a pension fund after withdrawal.
"Withdrawal Liability" refers to the debt an employer owes to a pension fund, calculated based on its share of the unfunded vested benefits at the time of its withdrawal from the plan.
Definition of "Withdrawal Liability" as a negotiated settlement for withdrawal
This definition ties "Withdrawal Liability" to the negotiated settlement required when an employer withdraws from a pension plan.
"Withdrawal Liability" means the negotiated financial settlement that an employer must make to a pension plan upon withdrawal, representing its portion of the plan’s unfunded obligations.
Definition of "Withdrawal Liability" as a schedule for payment
This definition connects "Withdrawal Liability" to the schedule for payments an employer must adhere to after withdrawal.
"Withdrawal Liability" refers to the amount owed by an employer for its share of a pension plan’s unfunded benefits, with the payment to be made according to a schedule determined by the plan’s rules.
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