Applications for Approval of Certain Multiemployer Defined Benefit Plan Suspensions

Revenue Procedure 2015-34 describes procedures for a multiemployer defined benefit plan in critical and declining status to apply for approval of a proposed suspension of benefits.

Document Excerpt

Applications for a suspension of benefits under a multiemployer defined benefit pension plan that is in critical and declining status under § 432(e)(9) will be accepted on or after June 19, 2015. This revenue procedure prescribes the application process for approval of a proposed benefit suspension in accordance with § 432(e)(9)(G) and provides a model notice that a plan sponsor proposing a benefit suspension may use to satisfy the content and readability requirements of § 432(e)(9)(F)(ii) and (iii)(II). See Appendix A for the model notice. This revenue procedure does not affect the standards that will be applied in reviewing an application for a suspension of benefits under § 432(e)(9).



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