Kline-Miller Multiemployer Pension Reform Act of 2014

The Kline-Miller Multiemployer Pension Reform Act of 2014 (Division O of Pub. L. 113–235) is a federal law that was enacted in the United States on December 16, 2014. According to the Pension Benefit Guaranty Corporation, "In Kline-Miller, Congress established a new process for multiemployer pension plans to propose a temporary or permanent reduction of pension benefits if the plan is projected to run out of money."[1]

According to the U.S. Treasury Department, "Kline-Miller requires the Treasury Department, in consultation with the Pension Benefit Guaranty Corporation (PBGC) and the Department of Labor, to review a multiemployer pension plan’s application to reduce benefits and determine whether it meets the requirements set by Congress."[2]

References

  1. ↑ "Kline-Miller Multiemployer Pension Reform Act of 2014 FAQs". Pension Benefit Guaranty Corporation. Retrieved August 1, 2016.  This article incorporates text from this source, which is in the public domain.
  2. ↑ "The Kline-Miller Multiemployer Pension Reform Act of 2014". United States Department of the Treasury. July 7, 2016. Retrieved August 1, 2016.


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