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Investment funds not liable for portfolio company's underfunded pension liability under federal court ruling
  • Proskauer Rose LLP
  • USA
  • December 3 2012

On October 18, 2012, the U.S. District Court for the District of Massachusetts ruled that two private equity investment funds managed by Sun Capital Partners, Inc. were not liable for their bankrupt portfolio company's multiemployer pension plan withdrawal liability (Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, Civ. Action No. 10-10921-DPW (D. Mass. Oct. 18, 2012)).

In-plan conversions under the Small Business Jobs Act
  • Proskauer Rose LLP
  • USA
  • October 21 2010

The Small Business Jobs Act of 2010, signed into law on September 27, 2010, includes a new Roth "in-plan" conversion option for 401(k) and 403(b) plans that permits plan participants to convert pre-tax amounts into after-tax Roth amounts in the same plan.

Michael S Sirkin
  • Proskauer Rose LLP