Multiemployer Pension Reform Act of 2014

The Multiemployer Pension Reform Act of 2014 (MPRA) established a statutory framework under which certain deeply troubled multiemployer pension plans may propose temporary or permanent reductions of accrued benefits in order to avoid insolvency. Under MPRA, a plan seeking to suspend benefits must submit an application to the Department of the Treasury demonstrating that the proposed suspensions are necessary for the plan to remain solvent, subject to the requirements and limitations established by law. The Department of the Treasury reviews these applications in consultation with PBGC and the Department of Labor. This page provides information regarding the MPRA application and review process, participant voting procedures, statutory protections and limitations, notices and disclosures, and related guidance and resources relevant to plans, practitioners, participants, and other stakeholders.