Was the act constitutional

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Reference no: EM131377331

State Z enacted a Private Pension Benefits Protection Act requiring private employers with 100 or more employees to pay a pension funding charge for terminating a pension plan or closing an office in State Z.

Acme Steel Company closed its offices in State Z, whereupon the state assessed the company $185,000 under the vesting provisions of the Act. Acme challenged the constitutionality of the Act under the Contract Clause of the U.S. Constitution. Was the Act constitutional? Explain.

Reference no: EM131377331

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