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Susan Mauren uploaded this letter to the Treasury Dept. website comments on MEPRA, instead of addressing the injustice of bad investments made by government imposed Wall St. banks she feels we need a tax break if the cuts go through.
Susan Mauren
Retiree Representative to the Central States Pension Fund
P.O. Box 15670, Minneapolis, MN 55415
Email: [email protected]
Filed electronically at www.regulations.gov and by mail at:
The Honorable Jacob J. Lew, Secretary of the Treasury
Attn: Deva Kyle
Department of the Treasury, MPRA Office
1500 Pennsylvania Avenue NW., Room 1224
Washington, DC 20220
October 27, 2015
Re: Retiree Representative’s First Comment On The Central States Pension Fund Suspension Application
Dear Mr. Secretary:
I am the retiree representative appointed under the Multiemployer Pension Reform Act (“MPRA”) by the Central States Pension Fund. I am also a 34 year Teamster, and a Central States pensioner. On behalf of over 300,000 retired and inactive individuals whose pensions will be cut under MPRA, I ask you to exercise your authority under MPRA Section 201(b)(7) to grant Central States retirees tax relief to mitigate the burden MPRA will impose on them.
Under long-accepted principles of income tax policy, investment losses are applied against gains to lessen an individual’s income tax liability. Central States participants whose benefits are reduced under MPRA will be in a position analogous to that of an investor that experiences an investment loss. However, Central States participants are unlike a typical investor, in that they reasonably believed their pensions were protected by law. For forty years, pension promises were sacrosanct. When MPRA abruptly brought that era to an end, it put Central States participants in a unique position, warranting unique treatment.
An appropriate remedy for the losses Central States participants will experience due to MPRA is an advanceable refundable tax credit equal to the amount by which each participant’s benefit is reduced under MPRA. The tax credit could and should be administered in the same manner as the premium tax credit under Section 36B of the Internal Revenue Code. Such a tax credit would address the burden imposed on vulnerable retirees by benefit reductions under MPRA.
MPRA is unprecedented, and no existing tax policy provides adequate redress. On behalf of hundreds of thousands of my fellow retirees, I hope you will carefully consider my proposal. If I can assist in any way, please feel free to contact me.
Sincerely,
Susan Mauren
Retiree Representative
Susan Mauren
Retiree Representative to the Central States Pension Fund
P.O. Box 15670, Minneapolis, MN 55415
Email: [email protected]
Filed electronically at www.regulations.gov and by mail at:
The Honorable Jacob J. Lew, Secretary of the Treasury
Attn: Deva Kyle
Department of the Treasury, MPRA Office
1500 Pennsylvania Avenue NW., Room 1224
Washington, DC 20220
October 27, 2015
Re: Retiree Representative’s First Comment On The Central States Pension Fund Suspension Application
Dear Mr. Secretary:
I am the retiree representative appointed under the Multiemployer Pension Reform Act (“MPRA”) by the Central States Pension Fund. I am also a 34 year Teamster, and a Central States pensioner. On behalf of over 300,000 retired and inactive individuals whose pensions will be cut under MPRA, I ask you to exercise your authority under MPRA Section 201(b)(7) to grant Central States retirees tax relief to mitigate the burden MPRA will impose on them.
Under long-accepted principles of income tax policy, investment losses are applied against gains to lessen an individual’s income tax liability. Central States participants whose benefits are reduced under MPRA will be in a position analogous to that of an investor that experiences an investment loss. However, Central States participants are unlike a typical investor, in that they reasonably believed their pensions were protected by law. For forty years, pension promises were sacrosanct. When MPRA abruptly brought that era to an end, it put Central States participants in a unique position, warranting unique treatment.
An appropriate remedy for the losses Central States participants will experience due to MPRA is an advanceable refundable tax credit equal to the amount by which each participant’s benefit is reduced under MPRA. The tax credit could and should be administered in the same manner as the premium tax credit under Section 36B of the Internal Revenue Code. Such a tax credit would address the burden imposed on vulnerable retirees by benefit reductions under MPRA.
MPRA is unprecedented, and no existing tax policy provides adequate redress. On behalf of hundreds of thousands of my fellow retirees, I hope you will carefully consider my proposal. If I can assist in any way, please feel free to contact me.
Sincerely,
Susan Mauren
Retiree Representative
