<DOC>

[May 27, 2003 (Volume 68, Number 101)]

[Unified Agenda]

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



[Page 31212-31213]





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Part XL











Pension Benefit Guaranty Corporation











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Semiannual Regulatory Agenda



[[Page 31212]]



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: 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 21, 2003.



 Steven A. Kandarian,



Executive Director, Pension Benefit Guaranty Corporation.



                            Pension Benefit Guaranty Corporation--Proposed Rule Stage

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

                                                                                                    Regulation

 Sequence                                          Title                                          Identification

  Number                                                                                              Number

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

3633        Payment of Benefits in PBGC-Trusteed Plans..........................................     1212-AA98

3634        Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets.....     1212-AA55

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





                             Pension Benefit Guaranty Corporation--Final Rule Stage

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

                                                                                                    Regulation

 Sequence                                          Title                                          Identification

  Number                                                                                              Number

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

3635        Filing Rules........................................................................     1212-AA89

3636        Assessment Of and Relief From Penalties.............................................     1212-AA95

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_______________________________________________________________________

Pension Benefit Guaranty Corporation (PBGC)         Proposed Rule Stage



_______________________________________________________________________



3633. 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 has recently completed a rulemaking that 

made several changes in how it pays benefits, including giving 

participants more choices of annuity forms, clarifying (for certain 

purposes under title IV of ERISA) what it means to be able to 

``retire'' under plan provisions, and adding rules on who will get 

certain payments the PBGC owes to a participant at the time of death. 

Final Rule, 67 FR 16950 (April 8, 2002). The PBGC is continuing to 

explore how to improve its benefit payments rules. This regulation will 

fill in gaps 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                            10/00/03

NPRM Comment Period End         12/00/03



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



[[Page 31213]]



Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4112



RIN: 1212-AA98

_______________________________________________________________________



3634. 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                            07/00/03

NPRM Comment Period End         09/00/03



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

_______________________________________________________________________

Pension Benefit Guaranty Corporation (PBGC)            Final Rule Stage



_______________________________________________________________________



3635. 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                            02/14/03                     68 FR 7454

NPRM Comment Period End         04/15/03

Final Action                    09/00/03

Final Action Effective          10/00/03



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

_______________________________________________________________________



3636. 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                    05/00/03

Final Action Effective          06/00/03



Regulatory Flexibility Analysis Required: No



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

[FR Doc. 03-7999 Filed 05-23-03; 8:45 am]

BILLING CODE 7708-01-S