Multiemployer Pension Plan Application To Reduce Benefits, 18122 [2019-08566]

Download as PDF 18122 Federal Register / Vol. 84, No. 82 / Monday, April 29, 2019 / Notices (intermediate holding companies); and 12 U.S.C. 1817 and 1820 (insured state nonmember commercial and savings banks and insured state savings associations). The FFIEC 009 information collection is given confidential treatment (5 U.S.C. 552(b)(4) and (b)(8)). The FFIEC 009a information collection is not given confidential treatment. Request for Comment The agencies invite comment on the following topics related to these collections of information: (a) Whether the information collections are necessary for the proper performance of the agencies’ functions, including whether the information has practical utility; (b) The accuracy of the agencies’ estimates of the burden of the information collections, including the validity of the methodology and assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Comments submitted in response to this joint notice will be shared among the agencies. All comments will become a matter of public record. Dated: April 23, 2019. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. Board of Governors of the Federal Reserve System, April 12, 2019. Ann Misback, Secretary of the Board. Dated at Washington, DC, on April 15, 2019. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2019–08504 Filed 4–26–19; 8:45 am] khammond on DSKBBV9HB2PROD with NOTICES BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P VerDate Sep<11>2014 16:56 Apr 26, 2019 Jkt 247001 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 Sheet Metal Workers Local 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 (MPRA). The purpose of this notice is to announce that the application submitted by the Board of Trustees of the Sheet Metal Workers Local Pension Fund has been published on the website 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 Sheet Metal Workers Local Pension Fund. DATES: Comments must be received by June 13, 2019. 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: Danielle Norris. Comments sent via facsimile or 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 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 SUMMARY: PO 00000 Frm 00129 Fmt 4703 Sfmt 9990 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 Sheet Metal Workers Local Pension Fund, please contact Treasury at (202) 622–1534 (not a toll-free number). FOR FURTHER INFORMATION CONTACT: 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 March 29, 2019, the Board of Trustees of the Sheet Metal Workers Local 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 website at https://www.treasury.gov/services/ Pages/Plan-Applications.aspx. Treasury is publishing this notice in the Federal Register, in consultation with PBGC and the Department of Labor, to solicit public comments on all aspects of the Sheet Metal Workers Local Pension Fund application. Comments are requested from interested parties, including participants and beneficiaries, employee organizations, and contributing employers of the Sheet Metal Workers Local Pension Fund. Consideration will be given to any comments that are timely received by Treasury. SUPPLEMENTARY INFORMATION: Dated: April 17, 2019. David Kautter, Assistant Secretary for Tax Policy. [FR Doc. 2019–08566 Filed 4–26–19; 8:45 am] BILLING CODE 4810–25–P E:\FR\FM\29APN1.SGM 29APN1

Agencies

[Federal Register Volume 84, Number 82 (Monday, April 29, 2019)]
[Notices]
[Page 18122]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-08566]


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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 Sheet Metal Workers Local 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 (MPRA). The purpose of this notice is to 
announce that the application submitted by the Board of Trustees of the 
Sheet Metal Workers Local Pension Fund has been published on the 
website 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 Sheet Metal Workers Local Pension Fund.

DATES: Comments must be received by June 13, 2019.

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: Danielle Norris. Comments sent via facsimile or 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 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 Sheet Metal Workers Local Pension 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 March 29, 2019, the Board of Trustees of the Sheet Metal Workers 
Local 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 website at https://www.treasury.gov/services/Pages/Plan-Applications.aspx. Treasury is publishing this notice in the 
Federal Register, in consultation with PBGC and the Department of 
Labor, to solicit public comments on all aspects of the Sheet Metal 
Workers Local Pension Fund application.
    Comments are requested from interested parties, including 
participants and beneficiaries, employee organizations, and 
contributing employers of the Sheet Metal Workers Local Pension Fund. 
Consideration will be given to any comments that are timely received by 
Treasury.

    Dated: April 17, 2019.
David Kautter,
Assistant Secretary for Tax Policy.
[FR Doc. 2019-08566 Filed 4-26-19; 8:45 am]
 BILLING CODE 4810-25-P
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