81 FR 7192 - Multiemployer Pension Plan Application To Reduce Benefits; Reopening of Comment Period

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 27 (February 10, 2016)

Page Range		7192-7193
FR Document		2016-02645

On October 23, 2015, the Department published a notice of availability and request for comments regarding an application to Treasury to reduce benefits under the Central States, Southeast and Southwest Areas Pension Plan in accordance with the Multiemployer Pension Reform Act of 2014 (MPRA). The purpose of this notice is to reopen the comment period and provide more time for interested parties to provide comments.

Federal Register, Volume 81 Issue 27 (Wednesday, February 10, 2016)

[Federal Register Volume 81, Number 27 (Wednesday, February 10, 2016)]
[Notices]
[Pages 7192-7193]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2016-02645]

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DEPARTMENT OF THE TREASURY

[Docket ID: TREAS-DO-2015-0009]

Multiemployer Pension Plan Application To Reduce Benefits;
Reopening of Comment Period

AGENCY: Department of the Treasury.

ACTION: Notice of availability; reopening of comment period.

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SUMMARY: On October 23, 2015, the Department published a notice of
availability and request for comments regarding an application to
Treasury to reduce benefits under the Central States, Southeast and
Southwest Areas Pension Plan in accordance with the Multiemployer
Pension Reform Act of 2014 (MPRA). The purpose of this notice is to
reopen the comment period and provide more time for interested parties
to provide comments.

DATES: Comments must be received on or before March 1, 2016.

[[Page 7193]]

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, Southeast
and Southwest Areas 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,
Southeast and Southwest Areas Pension Plan (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. On
October 23, 2015, Treasury published a notice in the Federal Register
(80 FR 64508), in consultation with PBGC and the Department of Labor,
to solicit public comments on all aspects of the Central States Pension
Plan application. The notice provided that comments must be received by
December 7, 2015. On December 10, 2015, Treasury published a notice in
the Federal Register (80 FR 76743), in consultation with PBGC and the
Department of Labor, to reopen the comment period until February 1,
2016.
This notice announces the reopening of the comment period in order
to give additional time for interested parties to provide comments.
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 on or before March 1,
2016.

Dated: February 4, 2016.
David R. Pearl,
Executive Secretary, Department of the Treasury.
[FR Doc. 2016-02645 Filed 2-9-16; 8:45 am]
BILLING CODE 4810-25-P

7192 Federal Register / Vol. 81, No. 27 / Wednesday, February 10, 2016 / Notices

Estimated Time per Respondent: 18 collections, as required by the An agency may not conduct or
hr., 1 min. Paperwork Reduction Act of 1995, sponsor, and a person is not required to
Estimated Total Annual Burden Public Law 104–13 (44 U.S.C. respond to, a collection of information
Hours: 277,500. 3506(c)(2)(A)). Currently, the IRS is unless the collection of information
The following paragraph applies to all soliciting comments concerning Notice displays a valid OMB control number.
of the collections of information covered 2006–25, Announcement of Rules to be Books or records relating to a collection
by this notice: Included in Final Regulations under of information must be retained as long
An agency may not conduct or Section 897(d) and (e) of the Internal as their contents may become material
sponsor, and a person is not required to Revenue Code. in the administration of any internal
respond to, a collection of information DATES: Written comments should be revenue law. Generally, tax returns and
unless the collection of information received on or before April 11, 2016 to tax return information are confidential,
displays a valid OMB control number. be assured of consideration. as required by 26 U.S.C. 6103.
Books or records relating to a collection Request for Comments: Comments
ADDRESSES: Direct all written comments
of information must be retained as long submitted in response to this notice will
to Sara Covington, Internal Revenue
as their contents may become material be summarized and/or included in the
Service, Room 6129, 1111 Constitution
in the administration of any internal request for OMB approval. All
Avenue NW., Washington, DC 20224.
revenue law. Generally, tax returns and comments will become a matter of
tax return information are confidential, FOR FURTHER INFORMATION CONTACT:
public record. Comments are invited on:
as required by 26 U.S.C. 6103. Requests for additional information or
(a) Whether the collection of
Request for Comments: Comments copies of the regulations should be
information is necessary for the proper
submitted in response to this notice will directed to Sara Covington at Internal
performance of the functions of the
be summarized and/or included in the Revenue Service, Room 6129, 1111
agency, including whether the
request for OMB approval. All Constitution Avenue NW., Washington,
information shall have practical utility;
comments will become a matter of DC 20224, or through the Internet at
(b) the accuracy of the agency’s estimate
public record. Comments are invited on: Sara.L.Covington@irs.gov.
of the burden of the collection of
(a) Whether the collection of SUPPLEMENTARY INFORMATION: information; (c) ways to enhance the
information is necessary for the proper Title: Announcement of Rules to be quality, utility, and clarity of the
performance of the functions of the Included in Final Regulations under information to be collected; (d) ways to
agency, including whether the Section 897(d) and (e) of the Internal minimize the burden of the collection of
information shall have practical utility; Revenue Code. information on respondents, including
(b) the accuracy of the agency’s estimate Notice Number: 2006–46. through the use of automated collection
of the burden of the collection of OMB Number: 1545–2017. techniques or other forms of information
information; (c) ways to enhance the Abstract: This notice announces that
technology; and (e) estimates of capital
quality, utility, and clarity of the the IRS and Treasury Department will
or start-up costs and costs of operation,
information to be collected; (d) ways to issue final regulations under section
maintenance, and purchase of services
minimize the burden of the collection of 897(d) and (e) of the Internal Revenue
to provide information.
information on respondents, including Code that will revise the rules under
Temp. Treas. Reg. § 1.897–5T, Notice Approved: February 3, 2016.
through the use of automated collection
techniques or other forms of information 89–85, and Temp. Treas. Reg. § 1.897– Sara Covington,
technology; and (e) estimates of capital 6T to take into account statutory Tax Analyst.
or start-up costs and costs of operation, mergers and consolidations under [FR Doc. 2016–02594 Filed 2–9–16; 8:45 am]
maintenance, and purchase of services foreign or possessions law which may BILLING CODE 4830–01–P
to provide information. now qualify for nonrecognition
treatment under section 368(a)(1)(A).
Approved: February 3, 2016.
The specific collections of information DEPARTMENT OF THE TREASURY
Sara Covington, are contained in Temp. Treas. Reg.
IRS Tax Analyst. [Docket ID: TREAS–DO–2015–0009]
§§ 1.897–5T(c)(4)(ii)(C) and 1.897–
[FR Doc. 2016–02595 Filed 2–9–16; 8:45 am] 6T(b)(1). These reporting requirements Multiemployer Pension Plan
BILLING CODE 4830–01–P notify the IRS of the transfer and enable Application To Reduce Benefits;
it to verify that the transferor qualifies Reopening of Comment Period
for nonrecognition and that the
DEPARTMENT OF THE TREASURY transferee will be subject to U.S. tax on AGENCY:Department of the Treasury.
a subsequent disposition of the U.S. real ACTION:Notice of availability; reopening
Internal Revenue Service property interest. of comment period.
Proposed Collection; Comment Current Actions: There are no changes
being made to the notice at this time. SUMMARY: On October 23, 2015, the
Request for Notice 2006–46 Department published a notice of
Type of Review: Extension of
AGENCY: Internal Revenue Service (IRS), currently approved collection. availability and request for comments
Treasury. Affected Public: Business or other-for- regarding an application to Treasury to
profit organizations. reduce benefits under the Central States,
ACTION: Notice and request for
Southeast and Southwest Areas Pension
asabaliauskas on DSK9F6TC42PROD with NOTICES2

comments. Estimated Number of Respondents:
500. Plan in accordance with the
SUMMARY: The Department of the Estimated Time per Respondent: 1 Multiemployer Pension Reform Act of
Treasury, as part of its continuing effort hour. 2014 (MPRA). The purpose of this
to reduce paperwork and respondent Estimated Total Annual Reporting notice is to reopen the comment period
burden, invites the general public and Burden Hours: 500. and provide more time for interested
other Federal agencies to take this The following paragraph applies to all parties to provide comments.
opportunity to comment on proposed of the collections of information covered DATES: Comments must be received on
and/or continuing information by this notice: or before March 1, 2016.

VerDate Sep<11>2014 17:22 Feb 09, 2016 Jkt 238001 PO 00000 Frm 00129 Fmt 4703 Sfmt 4703 E:\FR\FM\10FEN1.SGM 10FEN1

$Federal Register / Vol. 81, No. 27 / Wednesday, February 10, 2016 / Notices 7193 ADDRESSES: You may submit comments from the Board of Trustees of the notice in the Federal Register (80 FR electronically through the Federal Central States, Southeast and Southwest 64508), in consultation with PBGC and eRulemaking Portal at http:// Areas Pension Plan, please contact the Department of Labor, to solicit www.regulations.gov, in accordance Treasury at (202) 622–1534 (not a toll- public comments on all aspects of the with the instructions on that site. free number). Central States Pension Plan application. Electronic submissions through SUPPLEMENTARY INFORMATION: The The notice provided that comments www.regulations.gov are encouraged. Multiemployer Pension Reform Act of must be received by December 7, 2015. Comments may also be mailed to the 2014 (MPRA) amended the Internal On December 10, 2015, Treasury Department of the Treasury, MPRA Revenue Code to permit a published a notice in the Federal Office, 1500 Pennsylvania Avenue NW., multiemployer plan that is projected to Register (80 FR 76743), in consultation Room 1224, Washington, DC 20220. have insufficient funds to reduce with PBGC and the Department of Attn: Deva Kyle. Comments sent via pension benefits payable to participants Labor, to reopen the comment period facsimile and email will not be and beneficiaries if certain conditions accepted. until February 1, 2016. are satisfied. In order to reduce benefits, Additional Instructions. All the plan sponsor is required to submit This notice announces the reopening comments received, including an application to the Secretary of the of the comment period in order to give attachments and other supporting Treasury, which the Department of the additional time for interested parties to materials, will be made available to the Treasury (Treasury), in consultation provide comments. Comments are public. Do not include any personally with the Pension Benefit Guaranty requested from interested parties, identifiable information (such as Social Corporation (PBGC) and the Secretary of including contributing employers, Security number, name, address, or Labor, is required to approve or deny. employee organizations, and other contact information) or any other On September 25, 2015, the Board of participants and beneficiaries of the information in your comment or Trustees of the Central States, Southeast Central States Pension Plan. supporting materials that you do not and Southwest Areas Pension Plan Consideration will be given to any want publicly disclosed. Treasury will (Central States Pension Plan) submitted comments that are timely received by make comments available for public an application for approval to reduce Treasury on or before March 1, 2016. inspection and copying on benefits under the Central States www.regulations.gov or upon request. Dated: February 4, 2016. Pension Plan. As required by the MPRA, Comments posted on the Internet can be that application has been published on David R. Pearl, retrieved by most Internet search Treasury’s Web site at http:// Executive Secretary, Department of the engines. www.treasury.gov/services/Pages/ Treasury. FOR FURTHER INFORMATION CONTACT: For central-states-application.aspx. On [FR Doc. 2016–02645 Filed 2–9–16; 8:45 am] information regarding the application October 23, 2015, Treasury published a BILLING CODE 4810–25–P asabaliauskas on DSK9F6TC42PROD with NOTICES2 VerDate Sep<11>2014 17:22 Feb 09, 2016 Jkt 238001 PO 00000 Frm 00130 Fmt 4703 Sfmt 9990 E:\FR\FM\10FEN1.SGM 10FEN1$

Document Created: 2016-02-10 00:19:33
Document Modified: 2016-02-10 00:19:33

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; reopening of comment period.
Dates		Comments must be received on or before March 1, 2016.
Contact		For information regarding the application from the Board of Trustees of the Central States, Southeast and Southwest Areas Pension Plan, please contact Treasury at (202) 622- 1534 (not a toll-free number).
FR Citation		81 FR 7192