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Text of Treasury Department Denial of Benefit Suspension Application for Road Carriers Local 707 Pension Fund (PDF)
U.S. Department of the Treasury Link to more items from this source
[Official Guidance]
June 28, 2016

"On June 10, 2016, PBGC denied the Plan's application for partition.... The Application states that the Plan is projected, absent suspension of benefits, to become insolvent by February 2017.... Treasury has determined that the suspensions described in the Application fail to satisfy the requirement ... that the proposed benefit suspensions ... be reasonably estimated to achieve, but not materially exceed, the level that is necessary to avoid insolvency, because without a partition, the Plan will not avoid insolvency[.]"

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