Jump to Navigation
Jump to Content

Pension plans that have applied to cut benefits under the Multiemployer Pension Reform Act

Date Published: 
Tuesday, April 10, 2018
Source/Author: 
Pension Rights Center

The Multiemployer Pension Reform Act of 2014 (MPRA) gives the trustees of certain underfunded multiemployer plans that meet the definition of being in “critical and declining” status almost unprecedented authority to cut retiree pension benefits. The law requires, however, that before an eligible plan cuts benefits, it must first file an application with the U.S. Department of the Treasury, which has been given authority to implement the law. The Treasury Department has 225 days to review each plan’s application to determine if the plan has met the conditions set by MPRA necessary to cut benefits.

Below is a list of pension plans that have applied to the Treasury Department to cut retiree pension benefits. Click on the name of each plan to see its application. Where available, the chart below includes data from our list of plans that have filed “critical and declining” status notices with U.S. Department of Labor.

Plans that have applied to cut benefits
under the Multiemployer Pension Reform Act
Name of plan Date application filed Date by which Treasury Department must make a decision Status Projected years to insolvency Total # of plan participants
Laborers No. 265 Pension Plan 7/31/2018 3/13/2019 In review 11 1,328
Local 807 Labor Management Pension Fund 06/29/2018 02/09/2019 In review 13  
Southwest Ohio Regional Council of Carpenters* 06/29/2018 02/09/2019 In review 18 5,501
Mid-Jersey Trucking Industry and Local 701 Pension Fund 06/25/2018 02/05/2019 In review 36 1,887
Toledo Roofers Local No 134 Pension Plan 06/25/2018 02/05/2019 In review 13  
Western States Office & Professional Employees Pension Fund* 05/15/2018 12/26/2018 Application Approved 18 7,463

Plasterers & Cement Masons Local 94 & Pension Fund

03/30/2018  11/10/2018 In review  8  

Sheet Metal Workers Local Pension Fund (OH)

03/30/2018 11/10/2018 Application Withdrawn
 16  4,500

Plasterers Local #82 Pension Plan

03/28/2018 11/08/2018 In review
 16  309

Pressroom Unions Pension Trust Fund

03/15/2018 10/24/2018 Application Withdrawn
 13  1,793

Local 805 IBT Pension & Retirement Plan*

02/23/2018 10/06/2018 Application Approved, subject to participant vote
6 2,065

Ironworkers Local 16 Pension Fund*

12/28/2017 8/10/2018

Application Approved

14  

Alaska Ironworkers Pension Plan*

12/19/2017  3/05/2018

Application

Approved

14 1,573
New York State Teamsters Conference Pension and Retirement Fund* 5/16/2017 12/27/2017 Application Approved N/A 34,639
International Association of Machinists of Motor City Pension Fund 3/29/2017 11/9/2017 Application Approved 15 1,197

United Furniture Workers Pension Fund A*

3/15/2017 10/26/2017  Application Approved 5 9,896

Automotive Industries Pension Fund

9/27/2016 5/10/2017 Application denied 14 25,796
Bricklayers And Allied Craftworkers Local 5 Pension Plan 8/4/2016 3/17/2017 Application Withdrawn N/A 949
Iron Workers Local 17 Pension Fund 7/29/2016 3/10/2017 Application Approved 20 2,067
Bricklayers & Allied Craftsmen Local No. 7 Pension Plan 6/28/2016 2/8/2017 Application Withdrawn
15 460

Teamsters Local 469 Pension Plan

3/31/2016 11/10/2016  Application denied N/A 1,803
Iron Workers Local 16 Pension Fund 3/26/2016 11/6/2016  Application denied 16 1,119
Road Carriers Local 707 Pension Fund 3/15/2016 10/26/2016 Application denied N/A 4,664
Central States Pension Fund  9/25/2015  5/7/2016  Application denied  12  411,238

 

Total number of participants in plans that have applied to cut retiree pension benefits under the Multiemployer Pension Reform Act of 2014: more than 520,247


*Plan has submitted a previous application that was either withdrawn or denied


Last updated October 11, 2018

More Information

print