Musicians Pension Fund Reapplies for Benefits Cuts | Chief Investment Officer
Previous application to Treasury Department had been rejected over mortality, new entrant rate assumptions. The American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) is hoping the second time is the charm and has reapplied to the US Treasury Department for a reduction in benefits under the Multiemployer Pension Reform Act (MPRA) to help stave off impending insolvency. In August, the Treasury Department denied the fund’s application for a reduction in benefits, saying that the mortality rate and new entrant assumptions it used were “not reasonable under the standards in ...