Mark M. Trapp Quoted in Law360’s “PBGC Backs ‘Full Value’ Pension Exit Credits At 7thCirc.”

Mark M. Trapp, Senior Counsel at Conn Maciel Carey LLP, was quoted in Law360’s “PBGC Backs ‘Full Value’ Pension Exit Credits At 7thCirc,” by Grace Elletson.

The case centers on how prior partial withdrawal liability credits should be applied when an employer later fully withdraws from a multiemployer pension plan. The PBGC argued that credits must be applied at the end of the statutory calculation to ensure employers receive the full dollar‑for‑dollar reduction required by ERISA.

Mark McKay Trapp, who represents Consumers Concrete, told Law360 that the PBGC’s “well-reasoned view is the best reading of the statute” and deserves consideration from the Seventh Circuit.

The Seventh Circuit’s decision in Central States Southeast and Southwest Areas Pension Fund v. Consumers Concrete Corp. is expected to have meaningful implications for employers navigating multiemployer plan withdrawal liability disputes.

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