[Unified Agenda of Federal Regulatory and Deregulatory Actions]
[Pension Benefit Guaranty Corporation Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]



[[Page 23841]]




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Part XXXIX



Pension Benefit Guaranty Corporation



_______________________________________________________________________

Semiannual Regulatory Agenda

[[Page 23842]]





PENSION BENEFIT GUARANTY CORPORATION (PBGC)                            


  



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PENSION BENEFIT GUARANTY CORPORATION

29 CFR Ch. XXVI

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 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. All of the items 
on this agenda are current or projected rulemakings.

Martin Slate,

Executive Director, Pension Benefit Guaranty Corporation.

                                               Proposed Rule Stage                                              
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
3849        Mergers and Transfers Between Multiemployer Plans.....................................    1212-AA69 
3850        Submission of Premium-Related Information.............................................    1212-AA66 
3851        Reinvention...........................................................................    1212-AA83 
3852        Calculation and Payment of Unfunded Nonguaranteed Benefits............................    1212-AA54 
3853        Amendments to Valuation of Plan Benefits..............................................    1212-AA55 
3854        Miscellaneous Statutory Amendments....................................................    1212-AA79 
3855        Reportable Event Requirements.........................................................    1212-AA80 
3856        Standard Terminations.................................................................    1212-AA82 
----------------------------------------------------------------------------------------------------------------


                                                Final Rule Stage                                                
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
3857        Payment of Premiums...................................................................    1212-AA58 
3858        Reorganizing and Renumbering of Regulations...........................................    1212-AA75 
----------------------------------------------------------------------------------------------------------------


                                                Long-Term Actions                                               
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
3859        Payment of Benefits in PBGC-Trusteed Plans............................................    1212-AA35 
----------------------------------------------------------------------------------------------------------------


                                                Completed Actions                                               
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
3860        Financial Assistance to Multiemployer Plans...........................................    1212-AA74 
3861        Disclosure and Amendment of Records Under the Privacy Act.............................    1212-AA63 
3862        Funds for Administrative Expenses of Section 4049 Trusts..............................    1212-AA65 
3863        Guaranteed Benefits...................................................................    1212-AA76 

[[Page 23843]]

                                                                                                                
3864        Financial and Actuarial Information Reporting.........................................    1212-AA78 
3865        Missing Participants..................................................................    1212-AA81 
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PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage


  



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3849. MERGERS AND TRANSFERS BETWEEN MULTIEMPLOYER PLANS

Priority:  Substantive, Nonsignificant

Legal Authority:  29 USC 1302(b)(3); 29 USC 1411

CFR Citation:  29 CFR 2672

Legal Deadline: None

Abstract: ERISA section 4231 sets basic guidelines for mergers and 
transfers between multiemployer plans, including a provision for a 120-
day notice to the PBGC. The PBGC's regulation on Mergers and Transfers 
Between Multiemployer Plans contains implementing rules. Neither the 
statute nor the regulation makes clear whether or how the merger and 
transfer rules apply where one or more of the plans involved is 
terminated. This regulation would amend 29 CFR part 2672 to clarify its 
application to mergers and transfers involving one or more terminated 
multiemployer plans and to specify the criteria that a merger or 
transfer involving terminated plans must satisfy in order to protect 
participants and beneficiaries in the affected plans, as well as the 
PBGC, from risk of loss as a result of the merger or transfer. The 
regulation would also liberalize the 120-day notice requirement for all 
multiemployer mergers and transfers so that such transactions can 
proceed more expeditiously.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/00/96
NPRM Comment Period End         09/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Deborah C. Murphy, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 
DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA69
_______________________________________________________________________




3850. SUBMISSION OF PREMIUM-RELATED INFORMATION

Priority:  Substantive, Nonsignificant

Legal Authority:  29 USC 1302(b)(3); 29 USC 1306; 29 USC 1307

CFR Citation:  29 CFR 2610

Legal Deadline: None

Abstract: The PBGC's regulation on Payment of Premiums (29 CFR part 
2610) currently requires plan administrators to retain, for six years, 
all records necessary to support or validate premium payments and to 
make those records available to the PBGC, upon request, for inspection 
and photocopying. The PBGC intends to propose amendments to provide for 
the submission to the PBGC of information in those records and for the 
supplementation of information submitted in premium filings. By 
improving the PBGC's ability to tailor its decisionmaking to the 
variety of situations presented by the administration of premium 
requirements, the PBGC expects these changes to increase the agency's 
efficiency and effectiveness.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/00/96
NPRM Comment Period End         09/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Deborah Murphy, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 
DC 20005-4026
Phone: 202 326-4024

RIN: 1212-AA66
_______________________________________________________________________




3851. REINVENTION

Priority:  Other

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

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

CFR Citation:  29 CFR 2601 to 2677

Legal Deadline: None

Abstract: Consistent with the President's Regulatory Reinvention 
Initiative, the PBGC has reviewed all of its regulations to determine 
whether they can be simplified or updated. The PBGC intends to make 
appropriate changes to its regulations to reflect the results of this 
review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/96
NPRM Comment Period End         08/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Marc L. Jordan, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K Street NW., 
Washington, DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179
Fax: 202 326-4112

RIN: 1212-AA83
_______________________________________________________________________




3852. CALCULATION AND PAYMENT OF UNFUNDED NONGUARANTEED BENEFITS

Priority:  Other Significant

Legal Authority:  29 USC 1302(b)(3); 29 USC 1322(c)

CFR Citation:  29 CFR 2623; 29 CFR 2627

[[Page 23844]]

Legal Deadline: None

Abstract: In the Pension Protection Act, Congress created a scheme by 
which to channel employer liability recoveries to plan participants and 
beneficiaries (amended ERISA section 4022(c)). Under section 4022(c), 
participants no longer have a direct claim for employer liability. 
Instead, the PBGC's claim covers both its shortfall (unfunded 
guaranteed benefits) and participants' losses (unfunded nonguaranteed 
benefits (UNBs)). In turn, the PBGC is to use a portion of its employer 
liability recovery to pay UNBs to participants and beneficiaries.
Section 4022(c) contains several ambiguities and also leaves to the 
PBGC the development of specific rules and procedures to make this 
system work. Thus, a regulation is needed to implement these statutory 
provisions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/00/96
NPRM Comment Period End         01/00/97

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Peter H. Gould, Senior Counsel, Pension Benefit 
Guaranty Corporation, Office of the General Counsel, 1200 K St. NW., 
Washington, DC 20005-4026
Phone: 202 326-4116
TDD: 202 326-4179

RIN: 1212-AA54
_______________________________________________________________________




3853. AMENDMENTS TO VALUATION OF PLAN BENEFITS

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

Legal Authority:  29 USC 1302(b)(3); 29 USC 1341

CFR Citation:  29 CFR 2619

Legal Deadline: None

Abstract: The Retirement Equity Act of 1984 (``REA'') requires plans to 
provide certain benefits, prohibits the elimination of benefit options 
and certain early retirement benefits and retirement type subsidies, 
and mandates the range of interest rates that may be used in 
calculating the amount of a non-consensual lump sum benefit. The Tax 
Reform Act of 1986 (``TRA '86'') slightly modified the interest rate 
restrictions and extended them to the calculation of all lump sum 
benefits.
These rules necessitate several amendments to the PBGC's valuation of 
benefits regulation (29 CFR part 2619). The PBGC also plans to update 
its mortality tables and to amend the regulation to reflect changes 
made by the Single-Employer Pension Plan Amendments Act of 1986 
(SEPPAA), the Pension Protection Act of 1987 (PPA), and the Retirement 
Protection Act of 1994 (RPA).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/96
NPRM Comment Period End         12/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Peter H. Gould, Senior Counsel, Pension Benefit 
Guaranty Corporation, Office of the General Counsel, 1200 K St. NW., 
Washington, DC 20005-4026
Phone: 202 326-4116
TDD: 202 326-4179

RIN: 1212-AA55
_______________________________________________________________________




3854. MISCELLANEOUS STATUTORY AMENDMENTS

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

Legal Authority:  29 USC 1301 et seq

CFR Citation:  Not yet determined

Legal Deadline: None

Abstract: Statutory amendments to various provisions of ERISA have 
modified rules that underlie certain PBGC regulations. The PBGC has 
undertaken several projects that address the effects of a number of 
these amendments. This rulemaking will address others. In particular, 
it will amend the regulations to reflect changes made by the Retirement 
Protection Act of 1994 that are not the subject of other PBGC 
rulemakings. These include amendments to the rules for determining the 
variable rate portion of the premium payable by certain single-employer 
plans (see ERISA section 4006(a)(3)) and to the rules under which the 
PBGC issues notices of noncompliance with standard termination 
requirements (see ERISA section 4041(b)(2)).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/96
NPRM Comment Period End         12/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Marc L. Jordan, Attorney, Office of the General 
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., 
Washington, DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA79
_______________________________________________________________________




3855. REPORTABLE EVENT REQUIREMENTS

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

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

CFR Citation:  29 CFR 2615 subpart A

Legal Deadline: None

Abstract: The Retirement Protection Act of 1994 amended the reportable 
event requirements in ERISA section 4043 by: (1) applying to 
contributing sponsors (as well as plan administrators) the requirement 
to notify the PBGC of a reportable event within 30 days after a person 
knows or has reason to know of its occurrence; (2) specifying four 
additional types of events for which notice is required (except as 
waived by the PBGC); and (3) requiring that, under limited 
circumstances, a contributing sponsor must notify the PBGC in advance 
of the occurrence of an event specified in the RPA or prescribed by 
PBGC regulations. This rule will amend the PBGC's reportable event 
regulations to implement these statutory changes. The rulemaking will 
also consider when notice should be required in various

[[Page 23845]]

situations that may indicate the need to terminate a plan.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Notice of Intent (Negotiated 
Rulemaking)                     08/11/95                    60 FR 41033
Notice of Intent Comment/ 
Application Period End          09/15/95
Notice of First Meeting 
(Negotiated Rulemaking)         09/26/95                    60 FR 49531
Notice of Establishment of 
Negotiated Rulemaking Advisory 
Committee                       10/05/95                    60 FR 52135
Notice of Meetings (Negotiated 
Rulemaking)                     10/25/95                    60 FR 54619
Notice of Meeting (Negotiated 
Rulemaking)                     03/26/96                    61 FR 13117
NPRM                            05/00/96
NPRM Comment Period End         07/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: James L. Beller, Attorney, Office of the General 
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., 
Washington, DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA80
_______________________________________________________________________




3856. STANDARD TERMINATIONS

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

Legal Authority:  29 USC 1302(b)(3); 29 USC 1341

CFR Citation:  29 CFR 2617

Legal Deadline: None

Abstract: The PBGC's standard termination regulations (29 CFR part 
2617) provide rules and procedures plan administrators must follow to 
terminate a defined benefit pension plan that has sufficient assets to 
pay all benefit obligations to participants at the time of termination. 
The PBGC is reviewing experience under this regulation to determine 
whether the procedures and time periods for processing a standard 
termination are appropriate.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/96
NPRM Comment Period End         08/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Catherine B. Klion, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K Street NW., 
Washington, DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179
Fax: 202 326-4112

RIN: 1212-AA82
_______________________________________________________________________


PENSION BENEFIT GUARANTY CORPORATION (PBGC)            Final Rule Stage


  



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3857. PAYMENT OF PREMIUMS

Priority:  Other Significant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

Legal Authority:  29 USC 1302(b)(3); 29 USC 1306; 29 USC 1307

CFR Citation:  29 CFR 2610

Legal Deadline: None

Abstract: Under sections 4006 and 4007 of ERISA, the PBGC has issued 
its regulation governing the payment of premiums for pension plans 
subject to Title IV of ERISA (29 CFR part 2610). PBGC studies of ways 
to simplify premium calculation and filing and to improve premium 
processing and accounting by PBGC have yielded suggestions for changes 
in that regulation. As a result, the PBGC has issued a proposed 
regulation to implement certain changes, relating mainly to filing due 
dates, treatment of short plan years, simplification of the alternative 
calculation method, and premium payment requirements for large plans 
(including what plans are considered large plans for this purpose). The 
purpose of the changes would be primarily to simplify the premium 
payment system for plans and the PBGC.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/10/92                    57 FR 12666
NPRM Comment Period End         05/26/92
NPRM Comment Period Extended to 
11/16/92                        09/17/92                    57 FR 42910
Final Action                    07/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Deborah Murphy, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 
DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA58
_______________________________________________________________________




3858. REORGANIZING AND RENUMBERING OF REGULATIONS

Priority:  Other

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

Legal Authority:  29 USC 1301 et seq

CFR Citation:  29 CFR 2601 - 2677

Legal Deadline: None

Abstract: This rule will reorganize and renumber the PBGC's regulations 
to track the statutory provisions to which they relate so as to make it 
easier for the public to locate regulations implementing particular 
statutory provisions. The other agencies with significant regulatory 
responsibilities in the pension area (the Internal Revenue Service and 
the Department of Labor) already track statutory provisions in 
numbering their regulations, and practitioners are therefore accustomed 
to searching for pension regulations under statute-based numbering 
systems.

[[Page 23846]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Notice of Intent to Renumber 
Regulations                     07/08/94                    59 FR 35067
Notice of Intent Comment Period 
End                             09/06/94
Final Action                    06/00/96
Final Action Effective          07/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Marc L. Jordan, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K Street NW., 
Washington, DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA75
_______________________________________________________________________


PENSION BENEFIT GUARANTY CORPORATION (PBGC)           Long-Term Actions


  



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3859. PAYMENT OF BENEFITS IN PBGC-TRUSTEED PLANS

Priority:  Substantive, Nonsignificant

CFR Citation:  29 CFR 2624

Timetable: Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Peter H. Gould
Phone: 202 326-4116

RIN: 1212-AA35
_______________________________________________________________________


PENSION BENEFIT GUARANTY CORPORATION (PBGC)           Completed Actions


  



_______________________________________________________________________




3860. FINANCIAL ASSISTANCE TO MULTIEMPLOYER PLANS

Priority:  Substantive, Nonsignificant

Legal Authority:  29 USC 1302(b)(3); 29 USC 1431

CFR Citation:  Not yet determined

Legal Deadline: None

Abstract: ERISA section 4261(a) provides that the PBGC shall pay 
financial assistance to insolvent multiemployer plans described in 
sections 4245(f) and 4281(d) who submit an application for the payment 
of assistance. The PBGC's regulation on Powers and Duties of Plan 
Sponsor of Plan Terminated by Mass Withdrawal (29 CFR part 2675) 
specifies the information that plans described in section 4281(d) 
(i.e., a plan terminated by the withdrawal of all employers) are 
required to submit in their application for financial assistance; 
however, the PBGC has not prescribed regulations specifying the 
information that a plan subject to section 4245(f) (i.e., a plan that 
has not terminated by the withdrawal of all employers) is required to 
file. This regulation would, among other things, (1) specify the 
information for applications for financial assistance from plans 
described in section 4245(f); (2) incorporate and revise, as 
appropriate, the requirements in 29 CFR part 2675 that relate to 
applications for financial assistance for plans described in section 
4281(d); and (3) specify the obligation of the sponsor of a plan that 
has applied for financial assistance to maintain and make available to 
the PBGC plan records and other information necessary for the PBGC to 
determine the plan's eligibility for financial assistance and where 
assistance has been provided, that such funds have been used solely for 
the purposes of paying guaranteed benefits and reasonable 
administrative expenses.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       03/26/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Deborah C. Murphy, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 
DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA74
_______________________________________________________________________




3861. DISCLOSURE AND AMENDMENT OF RECORDS UNDER THE PRIVACY ACT

Priority:  Other

Legal Authority:  5 USC 552a

CFR Citation:  29 CFR 2607

Legal Deadline: None

Abstract: The PBGC is dividing one of its systems of records that are 
subject to the Privacy Act into two systems, and is therefore amending 
its regulations to describe accurately the pertinent exemption from 
statutory provisions under the systems of records as so modified. The 
PBGC is also amending its regulations to reflect its current 
organization and to increase its standard copying fee (which has not 
been modified since 1975). The rule also includes several editorial 
changes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/15/95                    60 FR 57372
NPRM Comment Period End         12/15/95
Final Action                    12/29/95                    60 FR 67327
Final Action Effective          01/29/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Bruce Campbell, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 
DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA63
_______________________________________________________________________




3862. FUNDS FOR ADMINISTRATIVE EXPENSES OF SECTION 4049 TRUSTS

Priority:  Substantive, Nonsignificant

Legal Authority:  29 USC 1302(b)(3); 29 USC 1341(c)(3)(B) (Supp. IV 
1986); 29 USC 1342(i) (Supp. IV 1986); 29 USC 1349(a) (Supp. IV 1986) 
as amd. by sec.

[[Page 23847]]

9312, PL 100-203; 29 USC 1349(d) (Supp. IV 1986)

CFR Citation:  29 CFR 2626

Legal Deadline: None

Abstract: The Single-Employer Pension Plan Amendments Act of 1986 
(``SEPPAA'') added to ERISA (in section 4049) a requirement that a 
``4049 trust'' be set up to provide unfunded benefits not guaranteed by 
the PBGC to participants and beneficiaries of terminated insufficient 
single-employer plans; SEPPAA also added section 4062(c) to provide for 
employer liability to a 4049 trust. These provisions were repealed by 
the Pension Protection Act (``PPA''), but still apply to plans that 
terminated while they were in effect (roughly 1986-87). PPA also added 
to section 4049 a requirement that employers liable to a 4049 trust 
provide funding for administrative expenses of the trust before the 
section 4062(c) liability is collected, in accordance with regulations 
to be issued by the PBGC. This regulation would provide a summary 
procedure for collection of such administrative funding by a 4049 
trustee.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       03/26/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Thomas H. Gabriel, Attorney, Pension Benefit Guaranty 
Corporation, Office of the General Counsel, 1200 K St. NW., Washington, 
DC 20005-4026
Phone: 202 326-4023
TDD: 202 326-4179

RIN: 1212-AA65
_______________________________________________________________________




3863. GUARANTEED BENEFITS

Priority:  Substantive, Nonsignificant

Legal Authority:  29 USC 1302(b)(3); 29 USC 1322

CFR Citation:  29 CFR 2613

Legal Deadline: None

Abstract: Under ERISA section 4022, the PBGC guarantees the payment of 
certain nonforfeitable benefits under single-employer plans that 
terminate without sufficient assets to fund such benefits. Part 2613 of 
the PBGC's regulations describes the benefits that are guaranteed, the 
limitations on the guarantee, and the manner in which guaranteed 
benefits are paid.
This regulation would amend part 2613 to make it clear the PBGC 
determines whether a participant is entitled to a guarantee of his or 
her benefit under a terminated plan based on the participant's age, 
length of service, disability, or death as of the plan's termination 
date, rather than as of the day before that date.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Merged With RIN 1212-AA35       03/26/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Peter H. Gould, Senior Counsel, Pension Benefit 
Guaranty Corporation, Office of the General Counsel, 1200 K Street NW., 
Washington, DC 20005-4026
Phone: 202 326-4116
TDD: 202 326-4179

RIN: 1212-AA76
_______________________________________________________________________




3864. FINANCIAL AND ACTUARIAL INFORMATION REPORTING

Priority:  Other Significant

Legal Authority:  29 USC 1302(b)(3); 29 USC 1310

CFR Citation:  Not yet determined

Legal Deadline: None

Abstract: ERISA section 4010, added by the Retirement Protection Act of 
1994, requires that contributing sponsors of certain underfunded 
single-employer plans and members of their controlled groups provide 
the PBGC, annually by a date specified in PBGC regulations, with: (1) 
records, documents, or other information that PBGC regulations specify 
as necessary to determine the liabilities and assets of plans covered 
by the termination insurance program, and (2) copies of their financial 
statements and other financial information as PBGC regulations may 
prescribe. This rule implements section 4010.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/06/95                    60 FR 35308
NPRM Comment Period End         09/05/95
Final Action                    12/20/95                    60 FR 66054
Final Action Effective          01/19/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Frank H. McCulloch, Senior Counsel, Pension Benefit 
Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026
Phone: 202 326-4026
TDD: 202 326-4179

RIN: 1212-AA78
_______________________________________________________________________




3865. MISSING PARTICIPANTS

Priority:  Other Significant

Legal Authority:  29 USC 1302(b); 29 USC 1350

CFR Citation:  Not yet determined

Legal Deadline: None

Abstract: ERISA section 4050, added by the Retirement Protection Act of 
1994, provides for a procedure whereby the plan administrator of a 
terminating single-employer plan could give the PBGC information about 
any missing participant and either transfer the participant's benefits 
to the PBGC or annuitize the benefits, and the PBGC would pay the 
benefits, or give the participant the information needed to obtain 
payment of the annuity, if and when the participant was located or 
reappeared. The PBGC is required to issue implementing regulations 
covering the amount to be paid by the plan to the PBGC and by the PBGC 
to the participant as well as what steps plan administrators are to 
take in searching for participants. The purpose of the regulations is 
to provide standards and procedures for carrying out the new missing 
participants provision.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/24/95                    60 FR 44158
NPRM Comment Period End         10/10/95
Final Action                    12/01/95                    60 FR 61740
Final Action Effective          01/01/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Deborah C. Murphy, Attorney, Office of the General 
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., 
Washington, DC 20005-4026
Phone: 202 326-4024
TDD: 202 326-4179

RIN: 1212-AA81
[FR Doc. 96-8415 Filed 05-10-96; 8:45 am]
BILLING CODE 7708-01-F