[Federal Register Volume 82, Number 76 (Friday, April 21, 2017)]
[Notices]
[Pages 18831-18832]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-08227]


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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 805 Pension and 
Retirement Fund (Local 805 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. The 
purpose of this notice is to announce that the application submitted by 
the Board of Trustees of the Local 805 Pension Fund 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 Local 805 Pension Fund.

DATES: Comments must be received by June 5, 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 Local 805 Pension Fund, 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

[[Page 18832]]

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 22, 2017, the Board of Trustees of the Local 805 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 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 public comments on all aspects of the Local 805 Pension Fund 
application.
    Comments are requested from interested parties, including 
participants and beneficiaries, employee organizations, and 
contributing employers of the Local 805 Pension Fund. Consideration 
will be given to any comments that are timely received by Treasury.

    Dated: April 18, 2017.
Robert J. Neis,
Benefits Tax Counsel, Office of Tax Policy.
[FR Doc. 2017-08227 Filed 4-20-17; 8:45 am]
 BILLING CODE 4810-25-P