( February 19, 2026, 2:45 PM EST) -- NEW YORK — Resolving what it said was “a split between two district courts in our Circuit” and saying the “case presents a novel legal question in this and other Circuits,” the Second Circuit U.S. Court of Appeals on Feb. 18 affirmed an interpretation of the phrase “unfunded vested benefits” in the Multiemployer Pension Plan Amendments Act (MPPAA) that reduced withdrawal liability from $1.8 million to zero for an exit caused by employees’ decision to switch unions....