[December 22, 2003 (Volume 68, Number 245)] [Unified Agenda] From the Federal Register Online via GPO Access [frwais.access.gpo.gov] [DOCID: f:ua031040.wais] [Page 73798-73799] Pension Benefit Guaranty Corporation ----------------------------------------------------------------------- Part XL ----------------------------------------------------------------------- Semiannual Regulatory Agenda [[Page 73798]] 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. For this edition of the Pension Benefit Guaranty Corporation's regulatory agenda, the most significant regulatory action is included in The Regulatory Plan, which appears in part II of this issue of the Federal Register. The Regulatory Plan entries are listed in the table of contents below and are denoted by a bracketed bold reference, which directs the reader to the appropriate sequence number in part II. Dated: September 12, 2003. Steven A. Kandarian, Executive Director, Pension Benefit Guaranty Corporation. Pension Benefit Guaranty Corporation--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3809 Allocation of Assets in Single--Employer Plans; Valuation of Benefits and Assets 1212--AA55 (Reg Plan Seq No. 133).............................................................. 3810 Payment of Benefits in PBGC--Trusteed Plans......................................... 1212--AA98 ---------------------------------------------------------------------------------------------------------------- References in boldface appear in the Regulatory Plan in part II of this issue of the Federal Register. Pension Benefit Guaranty Corporation--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3811 Assessment Of and Relief From Penalties............................................. 1212--AA95 ---------------------------------------------------------------------------------------------------------------- Pension Benefit Guaranty Corporation--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3812 Filing Rules........................................................................ 1212--AA89 ---------------------------------------------------------------------------------------------------------------- [[Page 73799]] _______________________________________________________________________ Pension Benefit Guaranty Corporation (PBGC) Proposed Rule Stage _______________________________________________________________________ 3809. ALLOCATION OF ASSETS IN SINGLE--EMPLOYER PLANS; VALUATION OF BENEFITS AND ASSETS Regulatory Plan: This entry is Seq. No. 133 in part II of this issue of the Federal Register. RIN: 1212-AA55 _______________________________________________________________________ 3810. 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 is exploring 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 01/00/04 NPRM Comment Period End 03/00/04 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-AA98 _______________________________________________________________________ Pension Benefit Guaranty Corporation (PBGC) Final Rule Stage _______________________________________________________________________ 3811. 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 01/00/04 Final Action Effective 02/00/04 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 _______________________________________________________________________ Pension Benefit Guaranty Corporation (PBGC) Completed Actions _______________________________________________________________________ 3812. 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 is clarifying and simplifying its filing rules and providing 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 10/28/03 68 FR 61344 Final Action Effective 11/28/03 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 [FR Doc. 03-25119 Filed 12-19-03; 8:45 am] BILLING CODE 7708-01-S