Multiemployer Pension Plan Application To Reduce Benefits, 25498 [2017-11246]
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[FR Doc. 2017–11304 Filed 5–31–17; 8:45 am]
BILLING CODE 4910–RY–P
VerDate Sep<11>2014
18:32 May 31, 2017
Jkt 241001
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
New York State Teamsters Conference
Pension and Retirement Fund (NYS
Teamsters 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 NYS Teamsters 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 NYS
Teamsters Pension Fund.
DATES: Comments must be received by
July 17, 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.
SUMMARY:
For
information regarding the application
from the NYS Teamsters Pension Fund,
please contact Treasury at (202) 622–
1534 (not a toll-free number).
SUPPLEMENTARY INFORMATION: The
Multiemployer Pension Reform Act of
FOR FURTHER INFORMATION CONTACT:
PO 00000
Frm 00275
Fmt 4703
Sfmt 4703
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 May 15, 2017, the Board of
Trustees of the NYS Teamsters 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/PlanApplications.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
NYS Teamsters Pension Fund
application.
Comments are requested from
interested parties, including
participants and beneficiaries, employee
organizations, and contributing
employers of the NYS Teamsters
Pension Fund. Consideration will be
given to any comments that are timely
received by Treasury.
Dated: May 25, 2017.
Thomas West,
Tax Legislative Counsel, Office of Tax Policy.
[FR Doc. 2017–11246 Filed 5–31–17; 8:45 am]
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ACTION: Notice.
AGENCY:
In compliance with the
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SUMMARY:
E:\FR\FM\01JNN1.SGM
01JNN1
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[Federal Register Volume 82, Number 104 (Thursday, June 1, 2017)]
[Notices]
[Page 25498]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-11246]
=======================================================================
-----------------------------------------------------------------------
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 New York State Teamsters
Conference Pension and Retirement Fund (NYS Teamsters 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 NYS Teamsters
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 NYS Teamsters Pension Fund.
DATES: Comments must be received by July 17, 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 NYS Teamsters 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 May 15, 2017, the Board of Trustees of the NYS Teamsters 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 NYS Teamsters Pension
Fund application.
Comments are requested from interested parties, including
participants and beneficiaries, employee organizations, and
contributing employers of the NYS Teamsters Pension Fund. Consideration
will be given to any comments that are timely received by Treasury.
Dated: May 25, 2017.
Thomas West,
Tax Legislative Counsel, Office of Tax Policy.
[FR Doc. 2017-11246 Filed 5-31-17; 8:45 am]
BILLING CODE 4810-25-P