DOE Solution To Underfunded Pension Plans: Don't Pay For Them
Client Alert | 1 min read | 05.03.06
In a "notice" issued April 27, 2006 (http://directives.doe.gov/pdfs/doe/doetext/neword/351/n3511.pdf), DOE announced that "after a date to be negotiated with each Contractor, but no later than March 1, 2007," DOE will try to incorporate provisions in its contracts that would appear to make defined-benefit pensions and retiree medical benefits for new employees unallowable and prohibit reimbursement for plan enhancements unless approved in advance by DOE. It seems unlikely that DOE would have the authority to impose these requirements on existing contracts unilaterally, and some of them, particularly restrictions on the allowability of costs required by collective bargaining agreements, would conflict with existing FAR cost allowability rules.
Insights
Client Alert | 1 min read | 10.03.25
After months of anticipation, the Senate has received a nomination for a Commissioner of the U.S. Consumer Product Safety Commission (CPSC).
Client Alert | 1 min read | 10.03.25
Client Alert | 2 min read | 10.03.25
Client Alert | 3 min read | 10.03.25
