[Federal Register Volume 83, Number 143 (Wednesday, July 25, 2018)]
[Notices]
[Pages 35315-35316]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15886]


-----------------------------------------------------------------------

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 Local 807 Labor-Management 
Pension Plan, 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 Local 807 Labor-Management Pension Plan 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 Local 807 Labor-
Management Pension Plan.

DATES: Comments must be received by September 10, 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 or email will not be 
accepted.
    Additional Instructions. All comments received, including 
attachments and other supporting

[[Page 35316]]

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 Local 807 Labor-Management Pension Plan, 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 June 29, 2018, the Board of Trustees of the Local 807 Labor-
Management Pension Plan 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 Local 807 
Labor-Management Pension Plan application.
    Comments are requested from interested parties, including 
participants and beneficiaries, employee organizations, and 
contributing employers of the Local 807 Labor-Management Pension Plan. 
Consideration will be given to any comments that are timely received by 
Treasury.

    Dated: July 18, 2018.
David Kautter,
Assistant Secretary for Tax Policy.
[FR Doc. 2018-15886 Filed 7-24-18; 8:45 am]
 BILLING CODE 4810-25-P