<DOC>
[May 13, 2002 (Volume 67, Number 92)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID: f:ua020439.wais]
[Page 33988-33990]
PENSION BENEFIT GUARANTY CORPORATION (PBGC)
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Part XXXIX
Pension Benefit Guaranty Corporation
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Semiannual Regulatory Agenda
[[Page 33988]]
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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: 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 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 19, 2002.
Steven A. Kandarian,
Executive Director, Pension Benefit Guaranty Corporation.
Pension Benefit Guaranty Corporation--Proposed Rule Stage
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Regulation
Sequence Title Identification
Number Number
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3432 Filing Rules........................................................................ 1212-AA89
3433 Rules for Administrative Review of Agency Decisions................................. 1212-AA97
3434 Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets..... 1212-AA55
3435 Cash Balance Plans With Variable Indices............................................ 1212-AA96
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Pension Benefit Guaranty Corporation--Final Rule Stage
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Regulation
Sequence Title Identification
Number Number
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3436 Assessment Of and Relief From Penalties............................................. 1212-AA95
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Pension Benefit Guaranty Corporation--Completed Actions
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Regulation
Sequence Title Identification
Number Number
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3437 Payment of Benefits in PBGC-Trusteed Plans.......................................... 1212-AA35
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_______________________________________________________________________
Pension Benefit Guaranty Corporation (PBGC) Proposed Rule Stage
_______________________________________________________________________
3432. FILING RULES
Priority: Substantive, Nonsignificant
Legal Authority: 29 USC 1301 et seq
CFR Citation: 29 CFR 4000
Legal Deadline: None
Abstract: The PBGC's rules governing the date of filing vary, depending
on the regulation involved and the method of filing used (e.g., mail
postmarked by the United States Postal Service, metered mail,
commercial delivery service, facsimile). The PBGC intends to clarify
and simplify its filing rules and to provide greater flexibility in
methods of filing (including by electronic means).
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 10/00/02
[[Page 33989]]
NPRM Comment Period End 12/00/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Thomas H. Gabriel, Attorney, Pension Benefit Guaranty
Corporation, Office of the General Counsel, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA89
_______________________________________________________________________
3433. RULES FOR ADMINISTRATIVE REVIEW OF AGENCY DECISIONS
Priority: Substantive, Nonsignificant
Legal Authority: 29 USC 1302(b)(3)
CFR Citation: 29 CFR 4003
Legal Deadline: None
Abstract: The PBGC plans to clarify and simplify the rules governing
its administrative review process. As part of this rulemaking, the PBGC
intends to explore ways to make its procedures more efficient.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/27/02 67 FR 14663
NPRM Comment Period End 05/28/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Thomas H. Gabriel, Attorney, Pension Benefit Guaranty
Corporation, Office of the General Counsel, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA97
_______________________________________________________________________
3434. 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 Pension Benefit Guaranty Corporation is considering
amending 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 12/00/02
NPRM Comment Period End 02/00/03
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty
Corporation, Office of the General Counsel, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA55
_______________________________________________________________________
3435. CASH BALANCE PLANS WITH VARIABLE INDICES
Priority: Substantive, Nonsignificant
Legal Authority: 29 USC 1301 et seq
CFR Citation: Not Yet Determined
Legal Deadline: None
Abstract: Many cash balance plans use variable indices to determine
future retirement benefits. When such a plan terminates in a distress
or involuntary termination, the PBGC must make a number of
determinations that require it to project future retirement benefit
amounts. To do so, the PBGC must make assumptions about the future
performance of the variable index. This rulemaking will address these
and related issues.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
Request for Comments 06/06/00 65 FR 41610
Comment Period End 09/22/00
NPRM 02/00/03
NPRM Comment Period End 04/00/03
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Catherine B. Klion, Attorney, Office of the General
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW,
Washington, DC 20005-4024
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA96
_______________________________________________________________________
Pension Benefit Guaranty Corporation (PBGC) Final Rule Stage
_______________________________________________________________________
3436. ASSESSMENT OF AND RELIEF FROM PENALTIES
Priority: Substantive, Nonsignificant
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; 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 proposes to replace those policy statements with an updated
and expanded set of 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
Final Action 11/00/02
Final Action Effective 12/00/02
Regulatory Flexibility Analysis Required: No
[[Page 33990]]
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Deborah C. Murphy, Attorney, Pension Benefit Guaranty
Corporation, Office of the General Counsel, 1200 K Street NW,
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA95
_______________________________________________________________________
Pension Benefit Guaranty Corporation (PBGC) Completed Actions
_______________________________________________________________________
3437. PAYMENT OF BENEFITS IN PBGC-TRUSTEED PLANS
Priority: Substantive, Nonsignificant
Legal Authority: 29 USC 1302(b)(3); 29 USC 1322; 29 USC 1342
CFR Citation: 29 CFR 4022
Legal Deadline: None
Abstract: When the PBGC assumes trusteeship of a terminated pension
plan pursuant to sections 4041 and 4042 of ERISA, it pays benefits to
participants pursuant to plan provisions and section 4022 of ERISA.
This regulation fills gaps in the rules and otherwise clarifies matters
that had been handled on a case-by-case basis in the past.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/26/00 65 FR 81456
NPRM Comment Period End 02/26/01
Final Action 04/08/02 67 FR 16950
Final Action Effective 06/01/02
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Catherine B. Klion, Attorney, Office of the General
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW,
Washington, DC 20005-4024
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112
RIN: 1212-AA35
[FR Doc. 02-7683 Filed 05-10-02; 8:45 am]
BILLING CODE 7708-01-S