[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63335-63337]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)                            



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[[Page 63335]]



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Part XXXVII











Pension Benefit Guaranty Corporation











_______________________________________________________________________







Semiannual Regulatory Agenda



[[Page 63336]]









PENSION BENEFIT GUARANTY CORPORATION



29 CFR Ch. XXVI



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: Office of the General Counsel, 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 Harold J. Ashner, Assistant General Counsel, Office 

of the General Counsel, (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. All of the items 

on this agenda are current or projected rulemakings.



    This edition of the Unified Agenda of Federal Regulatory and 

Deregulatory Actions includes The Regulatory Plan, which appears in 

Part II of this issue of the Federal Register. The Pension Benefit 

Guaranty Corporation's Statement of Regulatory Priorities is 

included in Part II.



Martin Slate,



Executive Director, Pension Benefit Guaranty Corporation.



                                               Proposed Rule Stage                                              

----------------------------------------------------------------------------------------------------------------

                                                                                                     Regulation 

 Sequence                                           Title                                            Identifier 

  Number                                                                                               Number   

----------------------------------------------------------------------------------------------------------------

4143        Mergers and Transfers Between Multiemployer Plans.....................................   

1212-AA69 

4144        Submission of Premium-Related Information.............................................   

1212-AA66 

4145        Calculation and Payment of Unfunded Nonguaranteed Benefits (Reg Plan Seq. No.

142)....    1212-AA54 

4146        Amendments to Valuation of Plan Benefits..............................................    1212-AA55 

4147        Miscellaneous Statutory Amendments....................................................    1212-AA79 

4148        Standard Terminations.................................................................   1212-AA82  

----------------------------------------------------------------------------------------------------------------

References in boldface appear in the Regulatory Plan in Part II of this issue of the Federal

Register.          





                                                Final Rule Stage                                                

----------------------------------------------------------------------------------------------------------------

                                                                                                     Regulation 

 Sequence                                           Title                                            Identifier 

  Number                                                                                               Number   

----------------------------------------------------------------------------------------------------------------

4149        Payment of Premiums...................................................................    1212-AA58 

4150        Reportable Events Requirements (Reg Plan Seq. No. 143)................................  

1212-AA80  

----------------------------------------------------------------------------------------------------------------

References in boldface appear in the Regulatory Plan in Part II of this issue of the Federal

Register.          





                                                Long-Term Actions                                               

----------------------------------------------------------------------------------------------------------------

                                                                                                     Regulation 

 Sequence                                           Title                                            Identifier 

  Number                                                                                               Number   

----------------------------------------------------------------------------------------------------------------

4151        Payment of Benefits in PBGC-Trusteed Plans............................................   

1212-AA35 

----------------------------------------------------------------------------------------------------------------





                                                Completed Actions                                               

----------------------------------------------------------------------------------------------------------------

                                                                                                     Regulation 

 Sequence                                           Title                                            Identifier 

  Number                                                                                               Number   

----------------------------------------------------------------------------------------------------------------

4152        Reorganization, Renumbering, and Reinvention of Regulations...........................   

1212-AA75 



[[Page 63337]]



                                                                                                                

4153        Reinvention...........................................................................    1212-AA83 

----------------------------------------------------------------------------------------------------------------



_______________________________________________________________________



[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63337]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage



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4143. MERGERS AND TRANSFERS BETWEEN MULTIEMPLOYER PLANS









Priority:  Substantive, Nonsignificant



Legal Authority:  29 USC 1302(b)(3); 29 USC 1411



CFR Citation:  29 CFR 4231



Legal Deadline: None



Abstract: ERISA section 4231 sets basic guidelines for mergers and 

transfers between multiemployer plans, including a provision for a 120-

day notice to the PBGC. The PBGC's regulation on Mergers and Transfers 

Between Multiemployer Plans contains implementing rules. Neither the 

statute nor the regulation makes clear whether or how the merger and 

transfer rules apply where one or more of the plans involved is 

terminated. This regulation would amend 29 CFR part 4231 to clarify its 

application to mergers and transfers involving one or more terminated 

multiemployer plans and to specify the criteria that a merger or 

transfer involving terminated plans must satisfy in order to protect 

participants and beneficiaries in the affected plans, as well as the 

PBGC, from risk of loss as a result of the merger or transfer. The 

regulation would also liberalize the 120-day notice requirement for all 

multiemployer mergers and transfers so that such transactions can 

proceed more expeditiously.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            11/00/96

NPRM Comment Period End         01/00/97



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Deborah C. Murphy, Attorney, Pension Benefit Guaranty 

Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 

DC 20005-4026

Phone: 202 326-4024

TDD: 202 326-4179



RIN: 1212-AA69

_______________________________________________________________________





[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63337]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage



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4144. SUBMISSION OF PREMIUM-RELATED INFORMATION



Priority:  Substantive, Nonsignificant



Legal Authority:  29 USC 1302(b)(3); 29 USC 1306; 29 USC 1307



CFR Citation:  29 CFR 4007



Legal Deadline: None



Abstract: The PBGC's regulation on Payment of Premiums (29 CFR part 

4007) currently requires plan administrators to retain, for six years, 

all records necessary to support or validate premium payments and to 

make those records available to the PBGC, upon request, for inspection 

and photocopying. The PBGC intends to propose amendments to provide for 

the submission to the PBGC of information in those records. The PBGC 

expects these changes to increase the agency's efficiency and 

effectiveness in conducting premium audits.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            10/00/96

NPRM Comment Period End         12/00/96



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Deborah Murphy, Attorney, Pension Benefit Guaranty 

Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 

DC 20005-4026

Phone: 202 326-4024



RIN: 1212-AA66

_______________________________________________________________________





[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63337]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage



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4145. CALCULATION AND PAYMENT OF UNFUNDED NONGUARANTEED BENEFITS



Regulatory Plan:  This entry is Seq. No. 142 in Part II of this issue 

of the Federal Register.



RIN: 1212-AA54

_______________________________________________________________________





[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63337-63338]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage



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4146. AMENDMENTS TO VALUATION OF PLAN BENEFITS



Priority:  Substantive, Nonsignificant



Reinventing Government: This rulemaking is part of the Reinventing 

Government effort. It will revise text in the CFR to reduce burden or 

duplication, or streamline requirements.



Legal Authority:  29 USC 1302(b)(3); 29 USC 1341



CFR Citation:  29 CFR 4044, subpart B



Legal Deadline: None



Abstract: Statutory changes necessitate several amendments to the 

PBGC's valuation of benefits regulation (29 CFR part 4044, subpart B). 

The PBGC also plans to update its mortality tables.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            02/00/97

NPRM Comment Period End         04/00/97



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Peter H. Gould, Senior Counsel, Pension Benefit 

Guaranty Corporation, Office of the General Counsel, 1200 K St. NW., 

Washington, DC 20005-4026

Phone: 202 326-4116

TDD: 202 326-4179



RIN: 1212-AA55



[[Page 63338]]



_______________________________________________________________________





[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63338]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage



_______________________________________________________________________

 

4147. MISCELLANEOUS STATUTORY AMENDMENTS



Priority:  Substantive, Nonsignificant



Reinventing Government: This rulemaking is part of the Reinventing 

Government effort. It will revise text in the CFR to reduce burden or 

duplication, or streamline requirements.



Legal Authority:  29 USC 1301 et seq



CFR Citation:  29 CFR 4000 et seq



Legal Deadline: None



Abstract: Statutory amendments to various provisions of ERISA have 

modified rules that underlie certain PBGC regulations. The PBGC has 

undertaken several projects that address the effects of a number of 

these amendments. This rulemaking will address others. In particular, 

it will amend the regulations to reflect changes made by the Retirement 

Protection Act of 1994 that are not the subject of other PBGC 

rulemakings.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            03/00/97

NPRM Comment Period End         05/00/97



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Marc L. Jordan, Attorney, Office of the General 

Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD: 202 326-4179



RIN: 1212-AA79

_______________________________________________________________________





[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63338]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage



_______________________________________________________________________

 

4148. STANDARD TERMINATIONS



Priority:  Substantive, Nonsignificant



Reinventing Government: This rulemaking is part of the Reinventing 

Government effort. It will revise text in the CFR to reduce burden or 

duplication, or streamline requirements.



Legal Authority:  29 USC 1302(b)(3); 29 USC 1341



CFR Citation:  29 CFR 4041



Legal Deadline: None



Abstract: The PBGC's standard termination regulations (29 CFR part 

4041) provide rules and procedures plan administrators must follow to 

terminate a defined benefit pension plan that has sufficient assets to 

pay all benefit obligations to participants at the time of termination. 

The PBGC is reviewing experience under this regulation to determine 

whether the procedures and time periods for processing a standard 

termination are appropriate.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            12/00/96

NPRM Comment Period End         02/00/97



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Catherine B. Klion, Attorney, Pension Benefit Guaranty 

Corporation, Office of the General Counsel, 1200 K Street NW., 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD: 202 326-4179

Fax: 202 326-4112



RIN: 1212-AA82

_______________________________________________________________________



[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63338]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)            Final Rule Stage



_______________________________________________________________________

 

4149. PAYMENT OF PREMIUMS









Priority:  Other Significant



Reinventing Government: This rulemaking is part of the Reinventing 

Government effort. It will revise text in the CFR to reduce burden or 

duplication, or streamline requirements.



Legal Authority:  29 USC 1302(b)(3); 29 USC 1306; 29 USC 1307



CFR Citation:  29 CFR 4006; 29 CFR 4007



Legal Deadline: None



Abstract: Under sections 4006 and 4007 of ERISA, the PBGC has issued 

its regulation governing the payment of premiums for pension plans 

subject to Title IV of ERISA (29 CFR parts 4006 and 4007). The PBGC 

issued a proposed regulation to implement certain changes, relating 

mainly to filing due dates, treatment of short plan years, 

simplification of the alternative calculation method, and premium 

payment requirements for large plans (including what plans are 

considered large plans for this purpose). The purpose of the changes 

would be primarily to simplify the premium payment system for plans and 

the PBGC.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            04/10/92                    57 FR 12666

NPRM Comment Period End         05/26/92

NPRM Comment Period Extended to 

11/16/92                        09/17/92                    57 FR 42910

Final Action                    02/00/97



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Deborah Murphy, Attorney, Pension Benefit Guaranty 

Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 

DC 20005-4026

Phone: 202 326-4024

TDD: 202 326-4179



RIN: 1212-AA58

_______________________________________________________________________





[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63338-63339]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)            Final Rule Stage



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4150. REPORTABLE EVENTS REQUIREMENTS



Regulatory Plan:  This entry is Seq. No. 143 in Part II of this issue 

of the Federal Register.



RIN: 1212-AA80



[[Page 63339]]



_______________________________________________________________________



[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63339]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)           Long-Term Actions



_______________________________________________________________________

 

4151. PAYMENT OF BENEFITS IN PBGC-TRUSTEED PLANS









Priority:  Substantive, Nonsignificant



CFR Citation:  29 CFR 4022



Timetable: Next Action Undetermined



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Peter H. Gould

Phone: 202 326-4116



RIN: 1212-AA35

_______________________________________________________________________



[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63339]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)           Completed Actions



_______________________________________________________________________

 

4152. REORGANIZATION, RENUMBERING, AND REINVENTION OF REGULATIONS









Priority:  Info./Admin./Other



Reinventing Government: This rulemaking is part of the Reinventing 

Government effort. It will revise text in the CFR to reduce burden or 

duplication, or streamline requirements.



Legal Authority:  29 USC 1301 et seq



CFR Citation:  29 CFR 4000 - 4907



Legal Deadline: None



Abstract: This rule reorganizes and renumbers the PBGC's regulations to 

track the statutory provisions to which they relate so as to make it 

easier for the public to locate regulations implementing particular 

statutory provisions. The other agencies with significant regulatory 

responsibilities in the pension area (the Internal Revenue Service and 

the Department of Labor) already track statutory provisions in 

numbering their regulations, and practitioners are therefore accustomed 

to searching for pension regulations under statute-based numbering 

systems. The rule also reinvents certain of the PBGC's regulations by 

making nonsubstantive corrections and clarifications and deleting 

material that is unnecessary or that has been substantially superseded 

(or is no longer applicable).



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



Notice of Intent to Renumber 

Regulations                     07/08/94                    59 FR 35067

Notice of Intent Comment Period 

End                             09/06/94

Final Action                    07/01/96                    61 FR 34001

Final Action Effective          07/01/96



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Marc L. Jordan, Attorney, Pension Benefit Guaranty 

Corporation, Office of the General Counsel, 1200 K Street NW., 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD: 202 326-4179



RIN: 1212-AA75

_______________________________________________________________________





[November 29, 1996 (Volume 61, Number 231)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]



[Page 63339]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)           Completed Actions



_______________________________________________________________________

 

4153. REINVENTION



Priority:  Info./Admin./Other



Reinventing Government: This rulemaking is part of the Reinventing 

Government effort. It will revise text in the CFR to reduce burden or 

duplication, or streamline requirements.



Legal Authority:  29 USC 1302(b)(3)



CFR Citation:  29 CFR 2601 to 2677



Legal Deadline: None



Abstract: Consistent with the President's Regulatory Reinvention 

Initiative, the PBGC has reviewed all of its regulations to determine 

whether they can be simplified or updated. The PBGC intends to make 

appropriate changes to its regulations to reflect the results of this 

review.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



Withdrawn in light of completion 

of 1212-AA75                    07/01/96



Small Entities Affected: None



Government Levels Affected: None



Agency Contact: Marc L. Jordan, Attorney, Pension Benefit Guaranty 

Corporation, Office of the General Counsel, 1200 K Street NW., 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD: 202 326-4179

Fax: 202 326-4112



RIN: 1212-AA83

[FR Doc. 96-26276 Filed 11-27-96; 8:45 am]

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