The Multiemployer Pension Reform Act of 2014 (the “Act”) was signed into law mid-December. The Act’s changes include permitting certain multiemployer plans to suspend benefits for participants, including participants already receiving benefits; doubling the amount of PBGC premiums; addressing contribution schedules once collective bargaining agreements expire; and increasing PBGC’s ability to partition plans and facilitate plan mergers. Generally, the Act’s provisions are effective for plan years beginning on or after January 1, 2015.

The Consolidated and Further Continuing Appropriations Act, 2015, which contains the Act, can be found here.