"BNA" said : Automotive Industry Pension Rescue Bites Dust at Treasury

It appears that the Automotive Industry fund's trustees weren't able to benefit from the Treasury's rejection of Central States' application. The decision brings to five the number of multiemployer plans that have had their petitions to cut benefits rejected. Pension & Benefits Daily™ covers all major legislative, regulatory, legal, and industry developments in the area of employee benefits every business day, focusing on actions by Congress,...By David B. BrandolphAn automotive industry pension plan is the latest to have its petition to cut benefits denied by the Treasury Department. Only one multiemployer plan's application has been approved. He was referring to final rules issued under the Multiemployer Pension Reform Act of 2014, which allowed for the filing of benefit cut petitions.


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AutoLightingCenter Provides the Best Reviews in the Automotive Industry

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Advertisement1st Gear: Not All Hope LostYou may or may not have heard from this website that new cars sales are dominated by snooze-inducing SUVs and crossovers. Small Sports Cars Will Save The Automotive Industry Good morning! AdvertisementSome sad figures:Operating profit sank to 5.1 billion yen ($45.8 million) in the Japanese carmaker's fiscal full year ended March 31, from 138.4 billion yen ($1.24 billion) a year earlier. AdvertisementTurns out, the cars that us nerds love are actually doing quite well, according to The Detroit News. Foreign exchange rate losses lopped 77.5 billion yen ($696.6 million) off the company's full-year operating profit, as the yen appreciated against the U.S. dollar and other currencies.


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