Justices agree that actuaries can use up-to-date assumptions
GlobalCommercial LawThe US Supreme Court has ruled that actuaries can use up-to-date assumptions in assessing costs of leaving a multi-employer pension plan. This decision comes after a dispute between employers and employees over the calculation of withdrawal liability. The court decided that the use of current assumptions is permissible under the Employee Retirement Income Security Act (ERISA). This ruling is significant as it will impact the way pension plans are managed and the costs associated with withdrawing from them. For law students, this case highlights the importance of understanding ERISA and its provisions, making it relevant for exams like CLAT and Judiciary Exam.