82 FR 19792 - Multiemployer Pension Plan Application To Reduce Benefits

DEPARTMENT OF THE TREASURY

Federal Register Volume 82, Issue 81 (April 28, 2017)

Page Range		19792-19793
FR Document		2017-08714

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

Federal Register, Volume 82 Issue 81 (Friday, April 28, 2017)

[Federal Register Volume 82, Number 81 (Friday, April 28, 2017)]
[Notices]
[Pages 19792-19793]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2017-08714]

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

DATES: Comments must be received by June 12, 2017.

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: Eric Berger. 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 Alaska Ironworkers Pension Trust, 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 Treasury,
in consultation with the Pension Benefit Guaranty Corporation (PBGC)
and the Department of Labor, is required to approve or deny.
On March 30, 2017, the Board of Trustees of the Alaska Ironworkers
Pension Trust 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 https://auth.treasury.gov/services/Pages/Plan-Applications.aspx. Treasury is publishing this notice in the
Federal Register, in consultation with the PBGC and the Department of
Labor, to solicit

[[Page 19793]]

public comments on all aspects of the Alaska Ironworkers Pension Trust
application.
Comments are requested from interested parties, including
participants and beneficiaries, employee organizations, and
contributing employers of the Alaska Ironworkers Pension Trust.
Consideration will be given to any comments that are timely received by
Treasury.

Dated: April 25, 2017.
Robert J. Neis,
Benefits Tax Counsel, Office of Tax Policy.
[FR Doc. 2017-08714 Filed 4-27-17; 8:45 am]
BILLING CODE 4810-25-P

Document Created: 2017-04-28 03:02:10
Document Modified: 2017-04-28 03:02:10

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 June 12, 2017.
Contact		For information regarding the application from the Alaska Ironworkers Pension Trust, please contact Treasury at (202) 622-1534 (not a toll-free number).
FR Citation		82 FR 19792