Comment deadline on IRS proposed Multiemployer Pension Reform Act rules

Multiemployer Pension Reform Act regs released

Treasury has announced the release of proposed and temporary regulations to implement the Kline-Miller Multiemployer Pension Reform Act of 2014, as required by Congress. In Kline-Miller, Congress established a new process for multiemployer pension plans to propose a temporary or permanent reduction of pension benefits if the plan is projected to run out of money. The public comment period will end on August 18, 2015.