[Federal Register Volume 83, Number 113 (Tuesday, June 12, 2018)]
[Notices]
[Page 27377]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-12558]
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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 reduce
benefits under the fund 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 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 WSOPE Pension
Fund.
DATES: Comments must be received by July 27, 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: Danielle Norris. 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 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 WSOPE 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 May 15, 2018, the Board of Trustees of the WSOPE Pension Fund
submitted an application for approval to reduce benefits under the
fund. 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 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: June 4, 2018.
David Kautter,
Assistant Secretary for Tax Policy.
[FR Doc. 2018-12558 Filed 6-11-18; 8:45 am]
BILLING CODE 4810-25-P