The third multi-employer pension plan since September 2015 has filed an application with the Department of the Treasury in which it is seeking to reduce core benefits under the Multiemployer Pension Reform Act of 2014 (“MPRA”). The Teamsters Local 469 Pension Plan (“469 Fund”) which is administered in Hazlet, New Jersey has now joined the
MPRA
Second Multiemployer Pension Plan Seeks to Reduce Core Benefits
By Paul A. Friedman on
Posted in Multiemployer Pension Plans
On October 28, 2015, we reported that the Central States Southeast and Southwest Area Pension Fund (“Central States”) — one of the largest multiemployer pension plans in the country — had filed an application with the Department of the Treasury (“Treasury”) seeking to reduce core benefits under the Multiemployer Pension Reform Act of 2014 (“MPRA”)…