Multiemployer Pension Plan Application To Reduce Benefits, 14599 [2017-05489]

Download as PDF mstockstill on DSK3G9T082PROD with NOTICES Federal Register / Vol. 82, No. 53 / Tuesday, March 21, 2017 / Notices previous conversations with AAMVA, FMCSA determined that an additional field to determine if the delay is due to a customer request or actual delay would require funding and time that is not currently available. Furthermore, given that not all States currently use CSTIMs, FMCSA cannot justify pursuing this route at this time, but will continue discussions with AAMVA for future efforts, as appropriate. Several comments addressed how the burden could be minimized without reducing the quality of collected information. One commenter indicated that they believe the burden is minimal as it stands. Another commenter suggested that as States become accustomed to this annual data collection, States will be able to collect data in a timelier manner. One commenter suggested the burden could be minimized by not requiring a year’s worth of data to be accumulated and calculated. The commenter suggested that FMCSA distribute a quarterly ‘‘snapshot’’ survey to collect wait times across different seasons and different locales, or to work with AAMVA to readily produce this information in CSTIMs. FMCSA did not intend for every CDL skills test to be included in the average and has provided more concrete instructions for States to collect data that is meaningful while not being overly burdensome. FMCSA has considered the suggestion for a quarterly snapshot survey, and will include a voluntary quarterly survey after the first annual survey. This has been accurately updated in burden estimates and in the information collection package. Finally, one commenter reported that if they are required to modify their systems to provide the information subject to this ICR, grant funding would be necessary and it would require a long time period to complete these efforts. FMCSA does not intend for States to be required to modify their existing systems, and believes most of the information required should be readily available to a certain degree of granularity. Public Comments Invited: You are asked to comment on any aspect of this information collection, including: (1) Whether the proposed collection is necessary for the FMCSA to perform it’s functions; (2) the accuracy of the estimated burden; (3) ways for the FMCSA to enhance the quality, VerDate Sep<11>2014 16:47 Mar 20, 2017 Jkt 241001 usefulness, and clarity of the collected information; and (4) ways that the burden could be minimized without reducing the quality of the collected information. Issued under the authority delegated in 49 CFR 1.87 on: March 9, 2017. G. Kelly Regal, Associate Administrator for Office of Research and Information Technology. [FR Doc. 2017–05523 Filed 3–20–17; 8:45 am] BILLING CODE 4910–EX–P DEPARTMENT OF THE TREASURY Multiemployer Pension Plan Application To Reduce Benefits Department of the Treasury. Notice of availability; request for comments. AGENCY: ACTION: The Board of Trustees of the Western States Office and Professional Employees Pension Fund (WSOPE Pension Fund), a multiemployer pension plan, has submitted an application to Treasury 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 WSOPE Pension Fund has been published on the Web site 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 WSOPE Pension Fund. DATES: Comments must be received by May 5, 2017. ADDRESSES: You may submit comments electronically through the Federal eRulemaking Portal at https:// 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 SUMMARY: PO 00000 Frm 00099 Fmt 4703 Sfmt 9990 14599 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 information regarding the application from the WSOPE 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 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 February 22, 2017, the Board of Trustees of the WSOPE 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 WSOPE Pension Fund application. Comments are requested from interested parties, including participants and beneficiaries, employee organizations, and contributing employers of the WSOPE Pension Fund. Consideration will be given to any comments that are timely received by Treasury. FOR FURTHER INFORMATION CONTACT: Dated: March 15, 2017. Tom West, Tax Legislative Counsel, Office of Tax Policy. [FR Doc. 2017–05489 Filed 3–20–17; 8:45 am] BILLING CODE 4810–25–P E:\FR\FM\21MRN1.SGM 21MRN1

Agencies

[Federal Register Volume 82, Number 53 (Tuesday, March 21, 2017)]
[Notices]
[Page 14599]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-05489]


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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 Western States Office and 
Professional Employees Pension Fund (WSOPE Pension Fund), a 
multiemployer pension plan, has submitted an application to Treasury 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 
WSOPE Pension Fund has been published on the Web site 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 WSOPE Pension Fund.

DATES: Comments must be received by May 5, 2017.

ADDRESSES: You may submit comments electronically through the Federal 
eRulemaking Portal at https://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 WSOPE 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 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 February 22, 2017, the Board of Trustees of the WSOPE 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 WSOPE Pension Fund 
application.
    Comments are requested from interested parties, including 
participants and beneficiaries, employee organizations, and 
contributing employers of the WSOPE Pension Fund. Consideration will be 
given to any comments that are timely received by Treasury.

    Dated: March 15, 2017.
Tom West,
Tax Legislative Counsel, Office of Tax Policy.
[FR Doc. 2017-05489 Filed 3-20-17; 8:45 am]
 BILLING CODE 4810-25-P
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