Yellow shareholder loses bid to quash pension claims [Yahoo! Finance]
Radiant Logistics, Inc. (RLGT)
NASDAQ:AMEX Investor Relations:
radiantdelivers.com
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Source: Yahoo! Finance
defunct less-than-truckload carrier is on the hook for claims from pension funds potentially totaling billions of dollars. The claims stem from Yellow's abrupt withdrawal from the multiemployer plans covering its former employees. Judge Craig Goldblatt's Tuesday opinion echoed the court's Sept. 13 ruling , which said pension insurer Pension Benefit Guaranty Corp. had the authority to set up guidelines to ensure a 2021 federal bailout package wouldn't be used to allow an employer to escape withdrawal liability. Pension Benefit Guaranty Corp. (PBGC), under the direction of the American Rescue Plan Act (ARPA), determined that immediate recognition of bailout funds by the plans would eliminate unfunded vested benefits, wiping clean an employer's withdrawal liability. Without any withdrawal liability, employers could be incentivized to exit pension plans early, the agency said. To prevent a mass exodus by employers, PBGC established two rules. One required pension funds receiving spe
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RLGT
Sec Filings
- 11/19/24 - Form 8-K
- 11/18/24 - Form 4
- 11/18/24 - Form 4
- RLGT's page on the SEC website