[Federal Register: October 29, 1998 (Volume 63, Number 209)]
[Corrections]
[Page 58101]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29oc98-145]
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PENSION BENEFIT GUARANTY CORPORATION
29 CFR Part 4044
Allocation of Assets in Single-Employer Plans; Interest
Assumptions for Valuing Benefits
Correction
In rule document 98-27660 beginning on page 55333 in the issue of
Thursday, October 15, 1998 make the following correction:
Appendix B to Part 4044 [Corrected]
On page 55334 the tables should appear as set forth below:
Table I.--Annuity Valuations
[This table sets forth, for each indicated calendar month, the interest rates (denoted by i<INF>1, i<INF>2,* * *, and
referred to generally as i<INF>t) assumed to be in effect between specified anniversaries of a valuation date that
occurs within that calendar month; those anniversaries are specified in the columns adjacent to the rates. The
last listed rate is assumed to be in effect after the last listed anniversary date.]
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The values of i<INF>t are:
For valuation dates occurring ----------------------------------------------------------------------------------
in the month-- i<INF>t for t = i<INF>t for t = i<INF>t for t =
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* * * * * *
*
November 1998................ .0530 1-25 .0525 >25 N/A N/A
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Table II.--Lump Sum Valuations
[In using this table: (1) For benefits for which the participant or beneficiary is entitled to be in pay status on the valuation date, the immediate
annuity rate shall apply; (2) For benefits for which the deferral period is y years (where y is an integer and 0 < y <ls-thn-eq> n<INF>1), interest rate i<INF>1
shall apply from the valuation date for a period of y years, and thereafter the immediate annuity rate shall apply; (3) For benefits for which the
deferral period is y years (where y is an integer and n<INF>1 < y <ls-thn-eq> n<INF>11 + n<INF>2), interest rate i<INF>2 shall apply from the valuation date for a period of
y--n<INF>1 years, interest rate i<INF>1 shall apply for the following n<INF>1 years, and thereafter the immediate annuity rate shall apply; (4) For benefits for which
the deferral period is y years (where y is an integer and y > n<INF>11 + n<INF>2), interest rate i<INF>3 shall apply from the valuation date for a period of y--n<INF>1--n<INF>2
years, interest rate i<INF>2 shall apply for the following n<INF>2 years, interest rate i<INF>1 shall apply for the following n<INF>1 years, and thereafter the immediate
annuity rate shall apply.]
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For plans with a Immediate Deferred annuities (percent)
valuation date annuity ----------------------------------------------------------------
Rate set -------------------------- rate
On or after Before (percent) i<INF>1 i<INF>2 i<INF>3 n<INF>1 n<INF>2
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* * * * * * *
61.............................................. 11-1-98 12-1-98 3.75 4.00 4.00 4.00 7 8
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BILLING CODE 1505-01-D