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Text of Treasury Department Denial of Application for Suspension of Benefits by Ironworkers Local 16 Pension Fund (PDF)
U.S. Department of the Treasury Nov. 4, 2016 "[A]fter reviewing the Application and consulting with PBGC and DOL, Treasury has determined that the suspensions described in the Application fail to satisfy the requirement set forth in Kline-Miller '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', because the mortality and the hours of service assumptions used for this purpose are not reasonable." |
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