DEPARTMENT OF THE TREASURY
WASHINGTON, D.C, 20220

July 20, 2017

Board of Trustees

United Furniture Workers Pension Fund A
c/o Harry Boot, Chairman

1910 Air Lane Drive

Nashville, TN 37210

Re: United Furniture Workers Pension Fund A (Fund) Application for Reduction of Benefits

Dear Mr. Boot:

The application (Application) submitted by the Board of Trustees (Trustees) of the Fund to the
Secretary of the Treasury (Treasury) on March 15, 2017, to reduce benefits pursuant to the
Multiemployer Pension Reform Act of 2014 (MPRA) has been reviewed to determine whether it
satisfies the requirements established by Congress under MPRA. In consultation with the
Secretary of Labor (DOL) and the Pension Benefit Guaranty Corporation (PBGC), Treasury has
determined that the Fund is eligible to reduce benefits under MPRA and that the Application
satisfies the requirements of subparagraphs (C), (D), (E), and (F) of section 432(e)(9) of the
Internal Revenue Code (Code), as added by MPRA.

This notification is not a final authorization to implement the benefit reduction described in your
Application. Pursuant to Code section 432(e)(9)(H), no reduction of benefits can take effect
before a vote of the participants and beneficiaries of the plan on the reduction. MPRA requires
Treasury, in consultation with DOL and PBGC, to administer this vote. Accordingly, Treasury,
in consultation with DOL and PBGC, will administer a vote of the participants and beneficiaries
of the Fund.

Pursuant to the regulations under MPRA, the Trustees must submit the following to Treasury or
its designated vendor no later than July 27, 2017:

e a voting roster that identifies eligible voters in accordance with the regulations under
MPRA, including all Fund participants (active participants, deferred vested participants,
and retirees) and beneficiaries of deceased participants;

e Fund information (such as participant identification codes used by the Fund) to enable
Treasury to verify the identity of each eligible voter;

e mailing addresses for all voters on the roster (or an indication that an address could not be
identified through reasonable efforts);

¢ current electronic mailing addresses for those voters who also may be contacted
electronically; and



Board of Trustees

United Furniture Workers Pension Fund A
July 20, 2017

Page 2

e individualized estimates of the effect of your proposed benefit reduction on each
participant and beneficiary in the Fund.'

The Trustees are responsible for making reasonable efforts to identify the mailing addresses for
those eligible voters whose ballot packages are returned as undeliverable (upon notice of such
returns by Treasury).” Please review the regulations under MPRA for further details regarding
these requirements. If you fail to satisfy the applicable requirements, it may not be possible
to timely administer, and certify the results, of the vote. In that case, it may not be possible
to issue a final authorization permitting implementation of the proposed reduction.

Please contact Treasury staff if you have any questions regarding this information.

AW.

Robert J. Neis
Office of Tax Policy

Sincer

Cot Kyle Flaherty, Esq.
Christian Benjaminson

' Treas. Reg. sec. 1.432(e)(9)-1(h)(2)(iii)(B)(2).

> Treas. Reg. sec. 1.432(e)(9)-1(h)(2)(iii)(B)(3).

* See Treas. Reg. sec. 1.432(€)(9)-1(a)(4)(iii(D). (The effective date of a benefit reduction may not precede the date
on which a final authorization to reduce benefits is issued.)