[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]

=======================================================================
-----------------------------------------------------------------------

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.]
----------------------------------------------------------------------------------------------------------------
                                                             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 =
----------------------------------------------------------------------------------------------------------------
      *                   *                   *                   *                   *                   *
                                                  *
November 1998................        .0530         1-25        .0525          >25  N/A             N/A
----------------------------------------------------------------------------------------------------------------


                                                             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.]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                      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
--------------------------------------------------------------------------------------------------------------------------------------------------------
       *                   *                   *                   *                   *                   *                   *
61..............................................      11-1-98      12-1-98         3.75         4.00         4.00         4.00            7            8
--------------------------------------------------------------------------------------------------------------------------------------------------------

BILLING CODE 1505-01-D