83 FR 53957 - Multiemployer Pension Plan Application To Reduce Benefits
DEPARTMENT OF THE TREASURY Federal Register Volume 83, Issue 207 (October 25, 2018)
Federal Register Volume 83, Issue 207 (October 25, 2018)
| Page Range | 53957-53957 | |
| FR Document | 2018-23434 |
[Federal Register Volume 83, Number 207 (Thursday, October 25, 2018)] [Notices] [Page 53957] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-23434] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Multiemployer Pension Plan Application To Reduce Benefits AGENCY: Department of the Treasury. ACTION: Notice of availability; request for comments. ----------------------------------------------------------------------- SUMMARY: The Board of Trustees of the IBEW Local Union No. 237 Pension Fund, a multiemployer pension plan, has submitted an application 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 IBEW Local Union No. 237 Pension Fund has been published on the website of the Department of the Treasury (Treasury), and to request public comments on the application from interested parties, including participants and beneficiaries, employee organizations, and contributing employers of the IBEW Local Union No. 237 Pension Fund. DATES: Comments must be received by December 10, 2018. 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: Danielle Norris. Comments sent via facsimile or 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 your 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 IBEW Local Union No. 237 Pension Fund, please contact Treasury at (202) 622-1534 (not a toll-free number). SUPPLEMENTARY INFORMATION: 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 must be approved or denied in consultation with the Pension Benefit Guaranty Corporation (PBGC) and the Department of Labor. On September 28, 2018, the Board of Trustees of the IBEW Local Union No. 237 Pension Fund submitted an application for approval to reduce benefits under the plan. As required by MPRA, that application has been published on Treasury's website at https://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 IBEW Local Union No. 237 Pension Fund application. Comments are requested from interested parties, including participants and beneficiaries, employee organizations, and contributing employers of the IBEW Local Union No. 237 Pension Fund. Consideration will be given to any comments that are timely received by Treasury. Dated: October 22, 2018. David Kautter, Assistant Secretary for Tax Policy. [FR Doc. 2018-23434 Filed 10-24-18; 8:45 am] BILLING CODE 4810-25-P
![Federal Register / Vol. 83, No. 207 / Thursday, October 25, 2018 / Notices 53957
Type of Review: Extension without respondents may submit TTB F 5100.51 Additional Instructions. All
change of a currently approved or its electronic equivalent, Formulas comments received, including
collection. Online (FONL), approved under this attachments and other supporting
Description: Under the authority of OMB control number, to TTB as an materials, will be made available to the
the IRC at 26 U.S.C. 5051, 5052, and alternate procedure. public. Do not include any personally
7805, and the authority of the FAA Act Form: TTB F 5100.51. identifiable information (such as your
at 27 U.S.C. 205(e), the TTB regulations Affected Public: Businesses or other Social Security number, name, address,
in 27 CFR parts 7 and 25 require beer for-profits. or other contact information) or any
and malt beverage producers and Estimated Number of Respondents: other information in your comment or
importers to file a formula when certain 2,937. supporting materials that you do not
non-exempted ingredients, flavors, Frequency of Response: On occasion.
Estimated Total Number of Annual want publicly disclosed. Treasury will
colors, or processes are used to produce make comments available for public
a non-traditional fermented beverage Responses: 14,485.
Estimated Time per Response: 2 inspection and copying on
product. This information collection, www.regulations.gov or upon request.
hours.
which is submitted to TTB as a written Estimated Total Annual Burden Comments posted on the internet can be
notice, is necessary to (1) ensure that the Hours: 28,970. retrieved by most internet search
Federal alcohol excise tax revenue due engines.
under the provisions of chapter 51 of Authority: 44 U.S.C. 3501 et seq.
the IRC is not jeopardized for Dated: October 19, 2018. FOR FURTHER INFORMATION CONTACT: For
domestically made or imported beer, Spencer W. Clark, information regarding the application
and (2) to ensure that the alcohol Treasury PRA Clearance Officer. from the IBEW Local Union No. 237
beverage labeling provisions of the FAA [FR Doc. 2018–23284 Filed 10–24–18; 8:45 am]
Pension Fund, please contact Treasury
Act are met for imported products that BILLING CODE 4810–31–P
at (202) 622–1534 (not a toll-free
meet the FAA Act definition of malt number).
beverage.
Form: None. SUPPLEMENTARY INFORMATION: MPRA
DEPARTMENT OF THE TREASURY
Affected Public: Businesses or other amended the Internal Revenue Code to
for-profits. Multiemployer Pension Plan permit a multiemployer plan that is
Estimated Number of Respondents: Application To Reduce Benefits projected to have insufficient funds to
550. reduce pension benefits payable to
Frequency of Response: On Occasion. AGENCY: Department of the Treasury. participants and beneficiaries if certain
Estimated Total Number of Annual ACTION:Notice of availability; request conditions are satisfied. In order to
Responses: 1,650. for comments. reduce benefits, the plan sponsor is
Estimated Time per Response: 1 hour. required to submit an application to the
Estimated Total Annual Burden SUMMARY: The Board of Trustees of the Secretary of the Treasury, which must
Hours: 1,650. IBEW Local Union No. 237 Pension
be approved or denied in consultation
11. Title: Formula and Process for Fund, a multiemployer pension plan,
with the Pension Benefit Guaranty
Domestic and Imported Alcohol has submitted an application to reduce
Corporation (PBGC) and the Department
Beverages. benefits under the plan in accordance
of Labor.
OMB Control Number: 1513–0122. with the Multiemployer Pension Reform
Type of Review: Revision of a Act of 2014 (MPRA). The purpose of On September 28, 2018, the Board of
currently approved collection. this notice is to announce that the Trustees of the IBEW Local Union No.
Description: Chapter 51 of the Internal application submitted by the Board of 237 Pension Fund submitted an
Revenue Code (IRC, 26 U.S.C. chapter Trustees of the IBEW Local Union No. application for approval to reduce
51) governs the production, 237 Pension Fund has been published benefits under the plan. As required by
classification, and taxation of alcohol on the website of the Department of the MPRA, that application has been
products, while the Federal Alcohol Treasury (Treasury), and to request published on Treasury’s website at
Administration Act (FAA Act) at 27 public comments on the application https://www.treasury.gov/services/
U.S.C. 205(e) requires alcohol beverage from interested parties, including Pages/Plan-Applications.aspx. Treasury
labels to provide consumers with participants and beneficiaries, employee is publishing this notice in the Federal
adequate information as to the identity organizations, and contributing Register, in consultation with PBGC and
and quality of alcohol beverages, and employers of the IBEW Local Union No. the Department of Labor, to solicit
each statute authorizes the Secretary to 237 Pension Fund. public comments on all aspects of the
issue regulations related to such DATES: Comments must be received by IBEW Local Union No. 237 Pension
activities. The TTB regulations issued December 10, 2018. Fund application.
under those authorities require alcohol ADDRESSES: You may submit comments Comments are requested from
beverage producers and importers to electronically through the Federal interested parties, including
obtain formula approval from TTB for eRulemaking Portal at http:// participants and beneficiaries, employee
certain non-standard products to ensure www.regulations.gov, in accordance organizations, and contributing
that the product is properly classified with the instructions on that site. employers of the IBEW Local Union No.
for excise tax purposes under the IRC Electronic submissions through 237 Pension Fund. Consideration will
and that it is properly labeled under the www.regulations.gov are encouraged. be given to any comments that are
daltland on DSKBBV9HB2PROD with NOTICES
FAA Act. Currently, in lieu of the Comments may also be mailed to the timely received by Treasury.
formula forms and letterhead notices Department of the Treasury, MPRA Dated: October 22, 2018.
specified in the TTB regulations and Office, 1500 Pennsylvania Avenue NW,
David Kautter,
specific to each alcohol commodity Room 1224, Washington, DC 20220,
(distilled spirits, wine, and beer/malt Attn: Danielle Norris. Comments sent Assistant Secretary for Tax Policy.
beverages), which are approved under via facsimile or email will not be [FR Doc. 2018–23434 Filed 10–24–18; 8:45 am]
separate OMB control numbers, accepted. BILLING CODE 4810–25–P
VerDate Sep<11>2014 18:10 Oct 24, 2018 Jkt 247001 PO 00000 Frm 00111 Fmt 4703 Sfmt 9990 E:\FR\FM\25OCN1.SGM 25OCN1](https://thefederalregister.org/doc/83_FR_54164/page/1.svg)
Document Created: 2018-10-25 01:45:35
Document Modified: 2018-10-25 01:45:35
| 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 10, 2018. | |
| Contact | For information regarding the application from the IBEW Local Union No. 237 Pension Fund, please contact Treasury at (202) 622-1534 (not a toll-free number). | |
| FR Citation | 83 FR 53957 |
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