[Federal Register Volume 86, Number 45 (Wednesday, March 10, 2021)]
[Notices]
[Pages 13788-13789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-05002]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Multiemployer Pension Plan Application To Reduce Benefits

AGENCY: Department of the Treasury.

ACTION: Notice and request for comment; reopening of comment period.

-----------------------------------------------------------------------

SUMMARY: On October 27, 2020, the Department of the Treasury (Treasury) 
published a notice of availability and request for comments regarding 
an application to Treasury to reduce benefits under the Carpenters 
Pension Trust Fund-Detroit & Vicinity Pension Fund (Fund), in 
accordance with the Multiemployer Pension Reform Act of 2014 (MPRA). 
The purpose of this notice is to reopen the comment period for the 
Fund's application and provide more time for interested parties to 
provide comments.

DATES: Treasury is reopening the comment period for the notice 
regarding the Fund entitled ``Multiemployer Pension Plan Application to 
Reduce Benefits Comments,'' which was published in the Federal Register 
on October 27, 2020, (85 FR 68120). Treasury will accept comments 
received on this notice on or before April 9, 2021.

ADDRESSES: You may submit comments electronically through the Federal 
eRulemaking Portal at http://www.regulations.gov, in accordance with 
the instructions on that site. Commenters are strongly encouraged to 
submit public comments electronically. Treasury expects to have limited 
personnel available to process public comments that are submitted on 
paper through mail. Until further notice, any comments submitted on 
paper will be considered to the extent practicable.
    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, telephone, or email 
will not be accepted.

[[Page 13789]]

    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 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 29, 2020, the Fund's Board of Trustees 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://home.treasury.gov/services/the-multiemployer-pension-reform-act-of-2014/applications-for-benefit-suspension. On October 27, 2020, 
Treasury published a notice in the Federal Register (85 FR 68120), in 
consultation with PBGC and the Department of Labor, to solicit public 
comments on all aspects of the Fund's application. The comment period 
in the notice published on October 27, 2020, closed on December 11, 
2020.
    This notice announces the reopening of the comment period on the 
Fund's application with respect to the notice published on October 27, 
2020, until April 9, 2021, in order to give additional time for 
interested parties to provide comments.

Mark J. Mazur,
Deputy Assistant Secretary for Tax Policy.
[FR Doc. 2021-05002 Filed 3-9-21; 8:45 am]
BILLING CODE 4810-AK-P