81_FR_32926 81 FR 32826 - Multiemployer Pension Plan Application To Reduce Benefits

81 FR 32826 - Multiemployer Pension Plan Application To Reduce Benefits

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 100 (May 24, 2016)

Page Range32826-32826
FR Document2016-12104

The Board of Trustees of the Teamsters Local Union No. 469 Pension Plan (Teamsters Local 469 Pension Plan), a multiemployer pension plan, has submitted an application to Treasury to reduce benefits under the 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 Teamsters Local 469 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 Teamsters Local 469 Pension Plan.

Federal Register, Volume 81 Issue 100 (Tuesday, May 24, 2016) 
[Federal Register Volume 81, Number 100 (Tuesday, May 24, 2016)]
[Notices]
[Page 32826]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-12104]


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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 Teamsters Local Union No. 469 
Pension Plan (Teamsters Local 469 Pension Plan), a multiemployer 
pension plan, has submitted an application to Treasury to reduce 
benefits under the 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 
Teamsters Local 469 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 Teamsters Local 469 Pension Plan.

DATES: Comments must be received by June 22, 2016.

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 Teamsters Local 469 
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 March 31, 2016, the Board of Trustees of the Teamsters Local 469 
Pension Plan submitted an application for approval to reduce benefits 
under the plan. As required by MPRA, that application has been 
published on Treasury's Web site at http://www.treasury.gov/services/Pages/ Plan-Applications.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 Teamsters Local 
469 Pension Plan application.
    Comments are requested from interested parties, including 
contributing employers, employee organizations, and participants and 
beneficiaries of the Teamsters Local 469 Pension Plan. Consideration 
will be given to any comments that are timely received by Treasury.

    Dated: May 17, 2016.
David R. Pearl,
Executive Secretary, Department of the Treasury.
[FR Doc. 2016-12104 Filed 5-23-16; 8:45 am]
 BILLING CODE 4810-25-P

32826 Federal Register / Vol. 81, No. 100 / Tuesday, May 24, 2016 / Notices we are looking for. In addition, Issued in Washington, DC, on May 18, Comments posted on the Internet can be experience working in a consensus 2016, under authority delegated in 49 CFR retrieved by most Internet search 1.97. engines. building environment would be helpful. The Secretary will consult with the Alan K. Mayberry, FOR FURTHER INFORMATION CONTACT: For national organization of State Acting Associate Administrator for Pipeline Safety. information regarding the application commissioners before selecting any state from the Board of Trustees of the [FR Doc. 2016–12136 Filed 5–23–16; 8:45 am] commissioner. Additionally, the Teamsters Local 469 Pension Plan, BILLING CODE 4910–60–P Secretary will consult with the national please contact Treasury at (202) 622– organizations representing the owners 1534 (not a toll-free number). and operators of pipeline facilities SUPPLEMENTARY INFORMATION: The before selecting individuals from the DEPARTMENT OF THE TREASURY Multiemployer Pension Reform Act of industry. Multiemployer Pension Plan 2014 (MPRA) amended the Internal III. Terms of Service Application To Reduce Benefits Revenue Code to permit a multiemployer plan that is projected to • Each member serves a three-year AGENCY: Department of the Treasury. have insufficient funds to reduce term, unless the member becomes ACTION:Notice of availability; request pension benefits payable to participants unable to serve, resigns, ceases to be for comments. and beneficiaries if certain conditions qualified to serve, or is removed by the are satisfied. In order to reduce benefits, SUMMARY: The Board of Trustees of the Secretary. the plan sponsor is required to submit Teamsters Local Union No. 469 Pension an application to the Secretary of the • Members may be reappointed. Plan (Teamsters Local 469 Pension Treasury, which the Department of the • All members serve at their own Plan), a multiemployer pension plan, Treasury (Treasury), in consultation has submitted an application to expense and receive no salary from the with the Pension Benefit Guaranty Treasury to reduce benefits under the Federal Government, although travel Corporation (PBGC) and the Secretary of plan in accordance with the reimbursement and per diem may be Labor, is required to approve or deny. Multiemployer Pension Reform Act of provided. On March 31, 2016, the Board of 2014 (MPRA). The purpose of this • The GPAC and LPAC generally Trustees of the Teamsters Local 469 notice is to announce that the Pension Plan submitted an application meet in-person in the Washington, DC, application submitted by the Board of for approval to reduce benefits under Metropolitan area. Trustees of the Teamsters Local 469 the plan. As required by MPRA, that • PHMSA will ask potential public Pension Plan has been published on the application has been published on candidates to provide detailed Treasury Web site, and to request public Treasury’s Web site at http:// information concerning such matters comments on the application from www.treasury.gov/services/Pages/ Plan- related to financial holdings, interested parties, including Applications.aspx. Treasury is contributing employers, employee employment, and research grants and/or publishing this notice in the Federal organizations, and participants and contracts to permit evaluation of Register, in consultation with PBGC and beneficiaries of the Teamsters Local 469 possible sources of conflicts of interest. the Department of Labor, to solicit Pension Plan. public comments on all aspects of the IV. Nomination Procedures DATES: Comments must be received by Teamsters Local 469 Pension Plan June 22, 2016. application. Any interested person may nominate ADDRESSES: You may submit comments one or more qualified individuals for Comments are requested from electronically through the Federal interested parties, including membership on the advisory committee. eRulemaking Portal at http:// contributing employers, employee Self-nominations are also accepted. www.regulations.gov, in accordance organizations, and participants and • Nominations must include a with the instructions on that site. beneficiaries of the Teamsters Local 469 current, complete résumé including Electronic submissions through Pension Plan. Consideration will be current business address and/or home www.regulations.gov are encouraged. given to any comments that are timely address, telephone number, and email Comments may also be mailed to the received by Treasury. address, education, professional or Department of the Treasury, MPRA Office, 1500 Pennsylvania Avenue NW., Dated: May 17, 2016. business experience, present David R. Pearl, occupation, and membership on other Room 1224, Washington, DC 20220. Attn: Deva Kyle. Comments sent via Executive Secretary, Department of the advisory committees past or present) for Treasury. facsimile and email will not be each nominee. [FR Doc. 2016–12104 Filed 5–23–16; 8:45 am] accepted. • Each nominee must meet the Additional Instructions. All BILLING CODE 4810–25–P training, education or experience comments received, including requirements listed under section II attachments and other supporting above. materials, will be made available to the public. Do not include any personally DEPARTMENT OF VETERANS • Nominations must also specify the AFFAIRS advisory committee for which the identifiable information (such as Social Security number, name, address, or sradovich on DSK3TPTVN1PROD with NOTICES nominee is recommended (the GPAC or [OMB Control No. 2900–0783 (10–10073, LPAC). other contact information) or any other 10073a, 10073b, 10073c)] information in your comment or • Nominations must also supporting materials that you do not Proposed Information Collection acknowledge that the nominee is aware want publicly disclosed. Treasury will (Nonprofit Research and Education of the nomination unless self- make comments available for public Corporations (NPCs) Data Collection) nominated. inspection and copying on www.regulations.gov or upon request. ACTIVITY: Comment Request. VerDate Sep<11>2014 17:24 May 23, 2016 Jkt 238001 PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 E:\FR\FM\24MYN1.SGM 24MYN1


Document Created: 2016-05-24 05:21:24
Document Modified: 2016-05-24 05:21:24
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice of availability; request for comments.
DatesComments must be received by June 22, 2016.
ContactFor information regarding the application from the Board of Trustees of the Teamsters Local 469 Pension Plan, please contact Treasury at (202) 622-1534 (not a toll- free number).
FR Citation81 FR 32826 
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