Mark Trapp Quoted in “Financial Woes of Teamsters’ Pension Fund Hurt Employers, Too”Milwaukee Wisconsin Journal Sentinel December 12, 2015
Mark M. Trapp, a Member of the Firm in the Employment, Labor, and Workforce Management and Litigation practices, in the firm’s Chicago office, was quoted in the Milwaukee Wisconsin Journal Sentinel, in “Financial Woes of Teamsters’ Pension Fund Hurt Employers, Too,” by Rick Romell.
Following is an excerpt:
Trapp, who advises companies on exiting multiemployer plans, said making the payments over 20 years and getting the liability off the balance sheet can be a rational move.
He said he tells many clients, "'There's good news and bad news: Yes, you're screwed, but you might not be as screwed as you think.'"
Trapp likened making the annual payments and shedding the liability to paying off a home mortgage rather than paying rent.
"It really can make a company-saving difference for a lot of these family-run enterprises," he said.