[Federal Register Volume 83, Number 13 (Friday, January 19, 2018)]
[Notices]
[Pages 2874-2875]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-00828]


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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 Plan, 
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 Plan has been published on the Treasury website, 
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 Plan.

DATES:  Comments must be received by March 5, 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: 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 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

[[Page 2875]]

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 December 19, 2017, the Board of Trustees of the Alaska 
Ironwokers 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 website 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 Alaska 
Ironworkers Pension Plan application.
    Comments are requested from interested parties, including 
participants and beneficiaries, employee organizations, and 
contributing employers of the Alaska Ironworkers Pension Plan. 
Consideration will be given to any comments that are timely received by 
Treasury.

    Dated: January 11, 2018.
David Kautter,
Assistant Secretary for Tax Policy.
[FR Doc. 2018-00828 Filed 1-18-18; 8:45 am]
 BILLING CODE 4810-25-P