<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-1]                         



[Page 23476]

 

PENSION BENEFIT GUARANTY CORPORATION (PBGC)



_______________________________________________________________________





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



Part XXXVIII











Pension Benefit Guaranty Corporation











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







Semiannual Regulatory Agenda



[[Page 23476]]









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: Legislative and Regulatory Department, 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 John H. Hanley, Director, Legislative and 

Regulatory Department, (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. Proposed 

regulations that are open for public comment may be viewed and 

commented on at the centralized Government rulemaking Web site, 

www.regulations.gov, or on the Pension Benefit Guaranty 

Corporation's Web site, www.pbgc.gov/regs.



Dated: March 2, 2006.



 Bradley D. Belt,



Executive Director, Pension Benefit Guaranty Corporation.



                            Pension Benefit Guaranty Corporation--Proposed Rule Stage

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

                                                                                                     Regulation

 Sequence                                           Title                                            Identifier

  Number                                                                                               Number

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

3496        Participant Notices...................................................................    1212-AB05

3497        Reportable Events.....................................................................    1212-AB06

3498        Multiemployer Amendments..............................................................    1212-AB07

3499        Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets.......    1212-AA55

3500        Payment of Benefits in PBGC-Trusteed Plans............................................    1212-AA98

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





                             Pension Benefit Guaranty Corporation--Final Rule Stage

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

                                                                                                     Regulation

 Sequence                                           Title                                            Identifier

  Number                                                                                               Number

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

3501        Assessment Of and Relief From Premium Penalties.......................................    1212-AA95

3502        Filing Rules..........................................................................    1212-AB02

3503        Liability Pursuant to Section 4062(e) of ERISA........................................    1212-AB03

3504        Assessment Of and Relief From Information Penalties...................................    1212-AB04

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



_______________________________________________________________________



<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-2]                         



[Page 23476-23477]

 

Pension Benefit Guaranty Corporation (PBGC)         Proposed Rule Stage



_______________________________________________________________________

 

3496. PARTICIPANT NOTICES









Priority: Other Significant



Legal Authority: 29 USC 1302(b)(3); 29 USC 1311



CFR Citation: 29 CFR 4011



Legal Deadline: None



Abstract: The PBGC proposes to amend its current regulation to make the 

funding status of underfunded plans more transparent to participants.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            10/00/06

NPRM Comment Period End         12/00/06



Regulatory Flexibility Analysis Required: No



Small Entities Affected: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



URL For Public Comments:

www.pbgc.gov/regs



[[Page 23477]]



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

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



Related RIN: Split from 1212-AB01

RIN: 1212-AB05

_______________________________________________________________________





<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-3]                         



[Page 23477]

 

Pension Benefit Guaranty Corporation (PBGC)         Proposed Rule Stage



_______________________________________________________________________

 

3497. REPORTABLE EVENTS



Priority: Other Significant



Legal Authority: 29 USC 1302(b)(3); 29 USC 1343



CFR Citation: 29 CFR 4043



Legal Deadline: None



Abstract: The PBGC proposes to amend its current regulation to add two 

new reportable events: (1) An event requiring filing of Form 8-K with 

the Securities and Exchange Commission (SEC) and (2) a decline in the 

credit rating of a controlled group member below investment grade.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            10/00/06

NPRM Comment Period End         12/00/06



Regulatory Flexibility Analysis Required: No



Small Entities Affected: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



URL For Public Comments:

www.pbgc.gov/regs



Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty 

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



Related RIN: Split from 1212-AB01

RIN: 1212-AB06

_______________________________________________________________________





<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-4]                         



[Page 23477]

 

Pension Benefit Guaranty Corporation (PBGC)         Proposed Rule Stage



_______________________________________________________________________

 

3498. MULTIEMPLOYER AMENDMENTS



Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 

undetermined.



Legal Authority: 29 USC 1302(b)(3); 29 USC 1391(c)(1), (c)(2)(D), 

(c)(5)(A), (c)(5)(B), (c)(5)(D), and (f); 29 USC 1399(c)(6); 29 USC 

1395; 29 USC 1412(c); 29 USC 1413



CFR Citation: 29 CFR 4211; 29 CFR 4215; 29 CFR 4219; 29 CFR 4232



Legal Deadline: None



Abstract: PBGC is considering amending its multiemployer regulations to 

strengthen reporting requirements and make other clarifying changes.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            10/00/06

NPRM Comment Period End         12/00/06



Regulatory Flexibility Analysis Required: No



Small Entities Affected: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



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

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



RIN: 1212-AB07

_______________________________________________________________________





<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-5]                         



[Page 23477]

 

Pension Benefit Guaranty Corporation (PBGC)         Proposed Rule Stage



_______________________________________________________________________

 

3499. 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 PBGC proposes to amend its benefit valuation and asset 

allocation regulations by improving its valuation assumptions and 

methods. Chief among the modifications the PBGC is considering are 

modifications to the structure of its retirement assumptions.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



ANPRM                           03/19/97                    62 FR 12982

ANPRM Comment Period End        05/19/97

NPRM                            03/14/05                    70 FR 12429

NPRM Comment Period End         05/13/05

Final Rule                      12/02/05                    70 FR 72205

Final Rule Effective            01/01/06

Second NPRM                     12/00/06

Second NPRM Comment Period End  02/00/07



Regulatory Flexibility Analysis Required: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



URL For Public Comments:

www.pbgc.gov/regs



Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty 

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



RIN: 1212-AA55

_______________________________________________________________________





<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-6]                         



[Page 23477-23478]

 

Pension Benefit Guaranty Corporation (PBGC)         Proposed Rule Stage



_______________________________________________________________________

 

3500. 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                            10/00/06

NPRM Comment Period End         12/00/06



Regulatory Flexibility Analysis Required: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



URL For Public Comments:



[[Page 23478]]



www.pbgc.gov/regs



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

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



RIN: 1212-AA98

_______________________________________________________________________



<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-7]                         



[Page 23478]

 

Pension Benefit Guaranty Corporation (PBGC)            Final Rule Stage



_______________________________________________________________________

 

3501. ASSESSMENT OF AND RELIEF FROM PREMIUM PENALTIES









Priority: Other Significant



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



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 is replacing those policy statements with an updated and 

expanded set of premium 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

Supplemental NPRM (Participant 

Notice)                         05/07/04                    69 FR 25797

Supplemental NPRM Comment Period 

End                             07/06/04

Final Action                    09/00/06

Final Action Effective          10/00/06



Regulatory Flexibility Analysis Required: No



Small Entities Affected: No



Government Levels Affected: None



URL For More Information:

www/pbgc.gov/regs



URL For Public Comments:

www.pbgc.gov/regs



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

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



RIN: 1212-AA95

_______________________________________________________________________





<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-8]                         



[Page 23478]

 

Pension Benefit Guaranty Corporation (PBGC)            Final Rule Stage



_______________________________________________________________________

 

3502. FILING RULES



Priority: Other Significant



Legal Authority: 29 USC 1302(b)(3); 29 USC 1303(a); 29 USC 1306; 29 USC 

1307



CFR Citation: 29 CFR 4000



Legal Deadline: None



Abstract: The PBGC is considering requiring electronic filing of 

premium declarations.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            03/09/05                    70 FR 11592

NPRM Comment Period End         05/09/05

Final Action                    05/00/06

Final Action Effective          07/00/06



Regulatory Flexibility Analysis Required: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



URL For Public Comments:

www.pbgc.gov/regs



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

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



RIN: 1212-AB02

_______________________________________________________________________





<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-9]                         



[Page 23478]

 

Pension Benefit Guaranty Corporation (PBGC)            Final Rule Stage



_______________________________________________________________________

 

3503. LIABILITY PURSUANT TO SECTION 4062(E) OF ERISA



Priority: Other Significant



Legal Authority: 29 USC 1302(b)(3); 29 USC 1362; 29 USC 1363



CFR Citation: 29 CFR 4062; 29 CFR 4063



Legal Deadline: None



Abstract: The PBGC is amending its regulations to provide a rule for 

computing liability under section 4063(b) of ERISA when there is a 

substantial cessation of operations by an employer as described by 

section 4062(e) of ERISA.



Timetable:

________________________________________________________________________



Action                            Date                      FR Cite



________________________________________________________________________



NPRM                            02/25/05                     70 FR 9258

NPRM Comment Period End         04/26/05

Final Action                    05/00/06

Final Action Effective          06/00/06



Regulatory Flexibility Analysis Required: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



URL For Public Comments:

www.pbgc.gov/regs



Agency Contact: James L. Beller, Attorney, Pension Benefit Guaranty 

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



RIN: 1212-AB03

_______________________________________________________________________





<DOC>

[April 24, 2006 (Volume 71, Number 78)]

[Unified Agenda]

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

[DOCID:ua24ap06_038-10]                         



[Page 23478-23479]

 

Pension Benefit Guaranty Corporation (PBGC)            Final Rule Stage



_______________________________________________________________________

 

3504. ASSESSMENT OF AND RELIEF FROM INFORMATION PENALTIES



Priority: Other Significant



Legal Authority: 28 USC 2461 note; 29 USC 1302(b)(3); 29 USC 1303(a); 

29 USC 1371



CFR Citation: 29 CFR 4003; 29 CFR 4011; 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 is replacing those policy statements with an updated and 

expanded set of information 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



[[Page 23479]]



Supplemental NPRM (Participant 

Notice)                         05/07/04                    69 FR 25797

Supplemental NPRM Comment Period 

End                             07/06/04

Final Action                    11/00/06

Final Action Effective          12/00/06



Regulatory Flexibility Analysis Required: No



Small Entities Affected: No



Government Levels Affected: None



URL For More Information:

www.pbgc.gov/regs



URL For Public Comments:

www.pbgc.gov/regs



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

Corporation, Legislative and Regulatory Department, 1200 K Street NW, 

Washington, DC 20005-4026

Phone: 202 326-4024

TDD Phone: 800 877-8339

Fax: 202 326-4224



Related RIN: Split from 1212-AA95

RIN: 1212-AB04

[FR Doc. 06-2465 Filed 04-21-06; 8:45 am]

BILLING CODE 7709-01-S