80 FR 64508 - Multiemployer Pension Plan Application To Reduce Benefits

DEPARTMENT OF THE TREASURY

Federal Register Volume 80, Issue 205 (October 23, 2015)

Page Range		64508-64508
FR Document		2015-27037

The Board of Trustees of the Central States, Southeast and Southwest Areas Pension Plan (Central States Pension Plan), a multiemployer pension plan, has submitted an application to Treasury to reduce benefits under the Central States Pension Plan in accordance with the Multiemployer Pension Reform Act of 2014 (MPRA). The purpose of this notice is to announce that the application submitted by the Board of Trustees of the Central States Pension Plan has been published on the Treasury Web site, and to request public comments on the application from interested parties, including contributing employers, employee organizations, and participants and beneficiaries of the Central States Pension Plan.

Federal Register, Volume 80 Issue 205 (Friday, October 23, 2015)

[Federal Register Volume 80, Number 205 (Friday, October 23, 2015)]
[Notices]
[Page 64508]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-27037]

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DEPARTMENT OF THE TREASURY

Multiemployer Pension Plan Application To Reduce Benefits

AGENCY: Department of the Treasury.

ACTION: Notice of availability; request for comments.

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SUMMARY: The Board of Trustees of the Central States, Southeast and
Southwest Areas Pension Plan (Central States Pension Plan), a
multiemployer pension plan, has submitted an application to Treasury to
reduce benefits under the Central States Pension Plan in accordance
with the Multiemployer Pension Reform Act of 2014 (MPRA). The purpose
of this notice is to announce that the application submitted by the
Board of Trustees of the Central States Pension Plan has been published
on the Treasury Web site, and to request public comments on the
application from interested parties, including contributing employers,
employee organizations, and participants and beneficiaries of the
Central States Pension Plan.

DATES: Comments must be received by December 7, 2015.

ADDRESSES: You may submit comments electronically through the Federal
eRulemaking Portal at http://www.regulations.gov, in accordance with
the instructions on that site. Electronic submissions through
www.regulations.gov are encouraged.
Comments may also be mailed to the Department of the Treasury, MPRA
Office, 1500 Pennsylvania Avenue NW., Room 1224, Washington, DC 20220.
Attn: Deva Kyle. Comments sent via facsimile and email will not be
accepted.
Additional Instructions. All comments received, including
attachments and other supporting materials, will be made available to
the public. Do not include any personally identifiable information
(such as Social Security number, name, address, or other contact
information) or any other information in your comment or supporting
materials that you do not want publicly disclosed. Treasury will make
comments available for public inspection and copying on
www.regulations.gov or upon request. Comments posted on the Internet
can be retrieved by most Internet search engines.

FOR FURTHER INFORMATION CONTACT: For information regarding the
application from the Board of Trustees of the Central States Pension
Plan, please contact Treasury at (202) 622-1534 (not a toll-free
number).

SUPPLEMENTARY INFORMATION: The Multiemployer Pension Reform Act of 2014
(MPRA) amended the Internal Revenue Code to permit a multiemployer plan
that is projected to have insufficient funds to reduce pension benefits
payable to participants and beneficiaries if certain conditions are
satisfied. In order to reduce benefits, the plan sponsor is required to
submit an application to the Secretary of the Treasury, which the
Department of the Treasury (Treasury), in consultation with the Pension
Benefit Guaranty Corporation (PBGC) and the Secretary of Labor, is
required to approve or deny.
On September 25, 2015, the Board of Trustees of the Central States
Pension Plan submitted an application for approval to reduce benefits
under the Central States Pension Plan. As required by the MPRA, that
application has been published on Treasury's Web site at http://www.treasury.gov/services/Pages/central-states-application.aspx.
Treasury is publishing this notice in the Federal Register, in
consultation with PBGC and the Department of Labor, to solicit public
comments on all aspects of the Central States Pension Plan application,
including with respect to the interpretation of section
432(e)(9)(D)(vii) of the Internal Revenue Code that is reflected in the
application.
Comments are requested from interested parties, including
contributing employers, employee organizations, and participants and
beneficiaries of the Central States Pension Plan. Consideration will be
given to any comments that are timely received by Treasury.

Dated: October 20, 2015.
David R. Pearl,
Executive Secretary, Department of the Treasury.
[FR Doc. 2015-27037 Filed 10-22-15; 8:45 am]
BILLING CODE 4810-25-P

Document Created: 2015-12-14 15:32:25
Document Modified: 2015-12-14 15:32:25

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice of availability; request for comments.
Dates		Comments must be received by December 7, 2015.
Contact		For information regarding the application from the Board of Trustees of the Central States Pension Plan, please contact Treasury at (202) 622-1534 (not a toll-free number).
FR Citation		80 FR 64508