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[May 16, 2005 (Volume 70, Number 93)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID: f:ua050439.wais]
[Page 27770-27773]
-----------------------------------------------------------------------
Part XXXIX
Pension Benefit Guaranty Corporation
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
[[Page 27770]]
PENSION BENEFIT GUARANTY CORPORATION (PBGC)
_______________________________________________________________________
PENSION BENEFIT GUARANTY CORPORATION
29 CFR Ch. XL
Agenda of Regulations Under Development
AGENCY: Pension Benefit Guaranty Corporation (PBGC).
ACTION: Semiannual regulatory agenda.
_______________________________________________________________________
SUMMARY: This document sets forth the Pension Benefit Guaranty
Corporation's regulatory agenda issued under Executive Order 12866 and
the Regulatory Flexibility Act. The agenda lists regulations that are
currently under development or review or that PBGC expects to have
under development or review during the next 12 months. The effect of
this agenda is to advise the public of PBGC's current and future
regulatory activities.
ADDRESSES: Legislative and Regulatory Department, Pension Benefit
Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026.
FOR FURTHER INFORMATION CONTACT: For further information on the agenda
in general, contact James J. Armbruster, Acting Director, Legislative
and Regulatory Department, (202) 326-4024. (For TTY/TDD users, call the
Federal relay service toll-free at 1-800-877-8339 and ask to be
connected to (202) 326-4024.) For information about a specific
regulation project listed on the agenda, contact the person designated
in the agenda for that regulation.
SUPPLEMENTARY INFORMATION: Under the President's order on Regulatory
Planning and Review, Executive Order 12866 (58 FR 51735, October 4,
1993), each agency is required to prepare an agenda of all regulations
under development or review. The Regulatory Flexibility Act, Public Law
98-354, 5 U.S.C. 601, has a similar agenda requirement. Under that law,
the agenda must list any regulation that is likely to have a
significant economic impact on a substantial number of small entities.
The Office of Management and Budget has issued guidelines
prescribing the form and content of the regulatory agenda. Under
those guidelines, the agenda must list all regulatory activities
being conducted or reviewed in the next 12 months and provide
certain specified information on each regulation.
Dated: March 24, 2005.
Bradley D. Belt,
Executive Director, Pension Benefit Guaranty Corporation.
Pension Benefit Guaranty Corporation--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
3494 Filing Rules.......................................................................... 1212-AB02
3495 Participant Notices................................................................... 1212-AB05
3496 Reportable Events..................................................................... 1212-AB06
3497 Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets....... 1212-AA55
3498 Payment of Benefits in PBGC-Trusteed Plans............................................ 1212-AA98
----------------------------------------------------------------------------------------------------------------
Pension Benefit Guaranty Corporation--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
3499 Assessment Of and Relief From Premium Penalties....................................... 1212-AA95
3500 Liability Pursuant to Section 4062(e) of ERISA........................................ 1212-AB03
3501 Assessment Of and Relief From Information Penalties................................... 1212-AB04
----------------------------------------------------------------------------------------------------------------
Pension Benefit Guaranty Corporation--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
3502 Transparency of Information Related to Plan Liabilities............................... 1212-AB01
----------------------------------------------------------------------------------------------------------------
[[Page 27771]]
_______________________________________________________________________
Pension Benefit Guaranty Corporation (PBGC) Proposed Rule Stage
_______________________________________________________________________
3494. FILING RULES
Priority: Other Significant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1303(a); 29 USC 1306; 29 USC
1307
CFR Citation: 29 CFR 4000
Legal Deadline: None
Abstract: The PBGC is considering requiring electronic filing of
premium declarations.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/09/05 70 FR 11592
NPRM Comment Period End 05/09/05
Review of Comments 06/00/05
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: Deborah C. Murphy, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AB02
_______________________________________________________________________
3495. [bull] PARTICIPANT NOTICES
Priority: Other Significant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1311
CFR Citation: 29 CFR 4011
Legal Deadline: None
Abstract: The PBGC proposes to amend its current regulation to make the
funding status of underfunded plans more transparent to participants.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 10/00/05
NPRM Comment Period End 12/00/05
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: Catherine B. Klion, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4024
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
Related RIN: Split from 1212-AB01
RIN: 1212-AB05
_______________________________________________________________________
3496. [bull] REPORTABLE EVENTS
Priority: Other Significant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1343
CFR Citation: 29 CFR 4043
Legal Deadline: None
Abstract: The PBGC proposes to amend its current regulation to add two
new reportable events: (1) an event requiring filing of Form 8-K with
the Securities and Exchange Commission (SEC) and (2) a decline in the
credit rating of a controlled group member below investment grade.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 05/00/05
NPRM Comment Period End 07/00/05
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
Related RIN: Split from 1212-AB01
RIN: 1212-AB06
_______________________________________________________________________
3497. ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS; VALUATION OF
BENEFITS AND ASSETS
Priority: Other Significant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1341; 29 USC 1301(a); 29 USC
1344; 29 USC 1362
CFR Citation: 29 CFR 4044, subpart B
Legal Deadline: None
Abstract: The PBGC proposes to amend its benefit valuation and asset
allocation regulations by adopting more current mortality tables and
otherwise simplifying and improving its valuation assumptions and
methods.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 03/19/97 62 FR 12982
ANPRM Comment Period End 05/19/97
NPRM 03/14/05 70 FR 12429
NPRM Comment Period End 05/13/05
Review of Comments 06/00/05
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA55
_______________________________________________________________________
3498. PAYMENT OF BENEFITS IN PBGC-TRUSTEED PLANS
Priority: Other Significant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1322; 29 USC 1344
CFR Citation: 29 CFR 4022; 29 CFR 4044
Legal Deadline: None
Abstract: When the PBGC assumes trusteeship of a terminated pension
plan, it pays benefits to participants pursuant to plan provisions and
title IV of ERISA. The PBGC is exploring how to improve its benefit
payments rules. This regulation will fill in gaps
[[Page 27772]]
in the rules, clarify matters that have been handled on a case-by-case
basis in the past, and otherwise address issues relating to the
determination of guarantee limits and the time, form, and manner of
payment.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 08/00/05
NPRM Comment Period End 10/00/05
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: Catherine B. Klion, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4024
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA98
_______________________________________________________________________
Pension Benefit Guaranty Corporation (PBGC) Final Rule Stage
_______________________________________________________________________
3499. ASSESSMENT OF AND RELIEF FROM PREMIUM PENALTIES
Priority: Other Significant
Legal Authority: 28 USC 2461 note; 29 USC 1302(b)(3); 29 USC 1303(a);
29 USC 1306; 29 USC 1307; 29 USC 1371
CFR Citation: 29 CFR 4003; 29 CFR 4007
Legal Deadline: None
Abstract: The PBGC has issued a number of policy statements about
penalties over the last few years. For the convenience of the public,
the PBGC is replacing those policy statements with an updated and
expanded set of premium penalty policies codified in its regulations.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/12/01 66 FR 2856
NPRM Comment Period End 03/13/01
Supplemental NPRM (Participant
Notice) 05/07/04 69 FR 25797
Supplemental NPRM Comment Period
End 07/06/04
Final Action 08/00/05
Final Action Effective 09/00/05
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
URL For More Information:
www/pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: Deborah C. Murphy, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA95
_______________________________________________________________________
3500. LIABILITY PURSUANT TO SECTION 4062(E) OF ERISA
Priority: Other Significant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1362; 29 USC 1363
CFR Citation: 29 CFR 4062; 29 CFR 4063
Legal Deadline: None
Abstract: The PBGC is amending its regulations to provide a rule for
computing liability under section 4063(b) of ERISA when there is a
substantial cessation of operations by an employer as described by
section 4062(e) of ERISA.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/25/05 70 FR 9258
NPRM Comment Period End 04/26/05
Final Action 06/00/05
Final Action Effective 07/00/05
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AB03
_______________________________________________________________________
3501. [bull] ASSESSMENT OF AND RELIEF FROM INFORMATION PENALTIES
Priority: Other Significant
Legal Authority: 28 USC 2461 note; 29 USC 1302(b)(3); 29 USC 1303(a);
29 USC 1371
CFR Citation: 29 CFR 4003; 29 CFR 4011; 29 CFR 4071
Legal Deadline: None
Abstract: The PBGC has issued a number of policy statements about
penalties over the last few years. For the convenience of the public,
the PBGC is replacing those policy statements with an updated and
expanded set of information penalty policies codified in its
regulations.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/12/01 66 FR 2856
NPRM Comment Period End 03/13/01
Supplemental NPRM (Participant
Notice) 05/07/04 69 FR 25797
Supplemental NPRM Comment Period
End 07/06/04
Final Action 08/00/05
Final Action Effective 09/00/05
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: Catherine B. Klion, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4024
[[Page 27773]]
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
Related RIN: Split from 1212-AA95
RIN: 1212-AB04
_______________________________________________________________________
Pension Benefit Guaranty Corporation (PBGC) Completed Actions
_______________________________________________________________________
3502. TRANSPARENCY OF INFORMATION RELATED TO PLAN LIABILITIES
Priority: Other Significant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1310
CFR Citation: 29 CFR 4010
Legal Deadline: None
Abstract: The PBGC amended its regulations on required reporting or
disclosure of certain plan actuarial and employer financial information
to improve disclosure and provide for electronic filing of certain
information.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/28/04 69 FR 77679
NPRM Comment Period End 01/27/05
Final Action 03/09/05 70 FR 11540
Final Action Effective 04/08/05
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
URL For More Information:
www.pbgc.gov/regs
URL For Public Comments:
www.pbgc.gov/regs
Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty
Corporation, Legislative and Regulatory Department, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AB01
[FR Doc. 05-6971 Filed 05-13-05; 8:45 am]
BILLING CODE 7708-01-S