80 FR 46882 - Suspension of Benefits Under the Multiemployer Pension Reform Act of 2014; Correction

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 151 (August 6, 2015)

This document contains corrections to a notice of proposed rulemaking, notice of proposed rulemaking by cross-reference to temporary regulations, and notice of public hearing (REG-102648-15) that were published in the Federal Register on Friday, June 19, 2015 (80 FR 35262). The proposed regulations relate to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in ``critical and declining status'').

[Federal Register Volume 80, Number 151 (Thursday, August 6, 2015)]
[Proposed Rules]
[Page 46882]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-19365]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-102648-15]
RIN 1545-BM66


Suspension of Benefits Under the Multiemployer Pension Reform Act 
of 2014; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to a notice of proposed rulemaking, notice of 
proposed rulemaking by cross-reference to temporary regulations, and 
notice of public hearing.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking, notice of proposed rulemaking by cross-reference to 
temporary regulations, and notice of public hearing (REG-102648-15) 
that were published in the Federal Register on Friday, June 19, 2015 
(80 FR 35262). The proposed regulations relate to multiemployer pension 
plans that are projected to have insufficient funds, at some point in 
the future, to pay the full benefits to which individuals will be 
entitled under the plans (referred to as plans in ``critical and 
declining status'').

DATES: Written or electronic comments, and outlines of topics to be 
discussed at the public hearing scheduled for September 10, 2015 for 
the notice of proposed rulemaking at 80 FR 35262, June 19, 2015, are 
still being accepted and must be received by August 18, 2015.

FOR FURTHER INFORMATION CONTACT: Department of the Treasury MPRA 
guidance information line (202) 622-1559 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking, notice of proposed rulemaking by 
cross-reference to temporary regulations, and notice of public hearing 
(REG-102648-15) that are the subject of this correction, are under 
section 432(e)(9) of the Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking, notice of proposed 
rulemaking by cross-reference to temporary regulations, and notice of 
public hearing (REG-102648-15) contain errors that may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking, notice of proposed 
rulemaking by cross-reference to temporary regulations, and notice of 
public hearing (REG-102648-15), that are subject to FR Doc. 2015-14948, 
are corrected as follows:
    1. On page 35264, in the preamble, second column, under paragraph 
heading ``Limitations on Suspensions,'' thirteenth line, the language 
``829 (1974)), as amended (ERISA) on the'' is corrected to read ``829 
(1974)), as amended (ERISA), on the''.
    2. On page 35266, in the preamble, second column, second full 
paragraph, eleventh line, the language ``in the documents under which 
the plain'' is corrected to read ``in the documents under which the 
plan''.
    3. On page 35266, in the preamble, third column, fifth line of the 
first full paragraph, the language ``beneficiaries, or alternate payee 
that'' is corrected to read ``beneficiary, or alternate payee that''.
    4. On page 35266, in the preamble, third column, fifth line from 
the bottom of second full paragraph, the language ``4022A(c)(2)(A) of 
ERISA) by the'' is corrected to read ``4022A(c)(2)(A) of ERISA) divided 
by the''.
    5. On page 35268, in the preamble, second column, first full 
paragraph, twenty-eighth line, the language ``contributions, withdrawal 
liability, or'' is corrected to read ``contributions, withdrawal 
liability payments, or''.
    6. On page 35270, in the preamble, second column, fourth full 
paragraph, fifth line, the language ``(and, if applicable, a proposed 
partition'' is corrected to read ``(and, if applicable, a proposed 
partition of the''.
    7. On page 35271, in the preamble, first column, under paragraph 
heading ``Contact Information,'' on the third line, the language 
``Department of the Treasury at (202)'' is corrected to read 
``Department of the Treasury MPRA guidance information line at (202)''.


Sec.  1.432(e)(9)-1  [Corrected]

    8. On page 35274, first column, paragraph (d)(3)(viii), Example 1., 
paragraph (ii), the sixth line, the language ``equal to the lesser of 
reduction that would'' is corrected to read ``equal to the lesser of 
the amount of reduction that would''.
    9. On page 35274, second column, paragraph (d)(3)(viii), Example 
3., paragraph (iii), the thirteenth line, the language ``(which is 
equal to the lesser of reduction that'' is corrected to read ``(which 
is equal to the lesser of the amount of reduction that''.
    10. On page 35274, second column, paragraph (d)(3)(viii), Example 
3., paragraph (iii), eighteenth line, the language ``1.1 x 639.50)).'' 
is corrected to read ``1.1 x $639.50))''.
    11. On page 35274, third column, paragraph (d)(3)(viii), Example 
4., paragraph (ii), third line from the bottom of the paragraph, the 
language ``be less than minimum benefit payable'' is corrected to read 
``be less than the minimum benefit payable''.
    12. On page 35274, third column, paragraph (d)(4)(i), second line, 
the language ``General rule [The text of the proposed'' is corrected to 
read ``General rule. [The text of the proposed''.
    13. On page 35276, second column, paragraph (d)(5)(iv)(C)(1), 
second line, the language ``of end of the most recent calendar'' is 
corrected to read ``of the end of the most recent calendar''.
    14. On page 35280, second column, paragraph (h)(3)(i)(J), fifth 
line, the language ``(and, if applicable, a proposed partition'' is 
corrected to read ``(and, if applicable, a proposed partition of the''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-19365 Filed 8-5-15; 8:45 am]
 BILLING CODE 4830-01-P