Trustees of the Fund say they now will take another shot at seeking Treasury’s approval
, Treasury has determined that the suspension described in the application fails to satisfy the requirement set forth in the Multiemployer Pension Reform Act ‘that the proposed benefit suspensions, in the aggregate, be reasonably estimated to achieve, but not materially exceed, the level that is necessary to avoid insolvency.’”
Treasury said that “the mortality assumption used in the application is not reasonable because it is based on a standard table that was used without adequate justification or a demonstration of the manner in which the table properly reflects the mortality experience of the Fund.
The Fund’s trustees told participants today that “we maintain that Treasury was wrong to deny the application on this basis, but we are encouraged by the fact that Treasury staff advised us verbally that it had no issue with any other elements of our application or our proposed benefit reduction plan.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Would You Get Your Partner to Be Nicer if You Could?How to bring out your partner's agreeable side—and why it's important, according to swhitbo
Weiterlesen »
Call 911: How Police Built Military Arsenals And A Firm Grip On Local Budgets, And Why Defunding May Be InevitableThanks to decades of spending, many local police departments now resemble well-armed military squads. But budgets and protests could force a change.
Weiterlesen »
Seattle City Council OKs cuts to police positions, budgetThe Seattle City Council has approved proposals that would reduce the police department by as many as 100 officers - an action supported by demonstrators in the wake of George Floyd's death but strongly opposed by the mayor and police chief.
Weiterlesen »
Could massive numbers of nursing home deaths have been prevented?One system — California’s Veterans Affairs Department — has dramatically reduced death rates through organization, access to PPE and full staffing.
Weiterlesen »
Dollar tries to keep rally alive in a short marketThe U.S. dollar was trying to keep a rare rally together on Monday as its longest losing streak in a decade left much of the market structurally short of the currency and vulnerable to a squeeze on any upbeat news.
Weiterlesen »