The Board of Trustees of the American Federation of Musicians & Employers Pension Fund has applied to reduce benefits, as per the Multiemployer Pension Reform Act of 2014. This application has been published on the Treasury Department's website. The Department of the Treasury is requesting public comments on the application from interested parties like participants, beneficiaries, and contributing employers. Comments need to be submitted by March 8, 2021, either electronically via the Federal eRulemaking Portal or by mail to the Treasury Department.
Simple Explanation
The people in charge of taking care of musicians' retirement money want to change how much money people get. They're asking everyone to say what they think about this change before March 8, 2021.