[The Regulatory Plan and 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]


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Part XXXVII





Pension Benefit Guaranty Corporation





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Semiannual Regulatory Agenda

[[Page 63336]]



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.

    This edition of the Unified Agenda of Federal Regulatory and 
Deregulatory Actions includes The Regulatory Plan, which appears in 
Part II of this issue of the Federal Register. The Pension Benefit 
Guaranty Corporation's Statement of Regulatory Priorities is 
included in Part II.

Martin Slate,

Executive Director, Pension Benefit Guaranty Corporation.

                                               Proposed Rule Stage                                              
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
4143        Mergers and Transfers Between Multiemployer Plans.....................................    1212-AA69 
4144        Submission of Premium-Related Information.............................................    1212-AA66 
4145        Calculation and Payment of Unfunded Nonguaranteed Benefits (Reg Plan Seq. No. 142)....    1212-AA54 
4146        Amendments to Valuation of Plan Benefits..............................................    1212-AA55 
4147        Miscellaneous Statutory Amendments....................................................    1212-AA79 
4148        Standard Terminations.................................................................   1212-AA82  
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References in boldface appear in the Regulatory Plan in Part II of this issue of the Federal Register.          


                                                Final Rule Stage                                                
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
4149        Payment of Premiums...................................................................    1212-AA58 
4150        Reportable Events Requirements (Reg Plan Seq. No. 143)................................   1212-AA80  
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References in boldface appear in the Regulatory Plan in Part II of this issue of the Federal Register.          


                                                Long-Term Actions                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4151        Payment of Benefits in PBGC-Trusteed Plans............................................    1212-AA35 
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                                                Completed Actions                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4152        Reorganization, Renumbering, and Reinvention of Regulations...........................    1212-AA75 

[[Page 63337]]

                                                                                                                
4153        Reinvention...........................................................................    1212-AA83 
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PENSION BENEFIT GUARANTY CORPORATION (PBGC)         Proposed Rule Stage


  



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4143. MERGERS AND TRANSFERS BETWEEN MULTIEMPLOYER PLANS

Priority:  Substantive, Nonsignificant

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

CFR Citation:  29 CFR 4231

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 4231 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:
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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: 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
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4144. 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 4007

Legal Deadline: None

Abstract: The PBGC's regulation on Payment of Premiums (29 CFR part 
4007) 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. The PBGC 
expects these changes to increase the agency's efficiency and 
effectiveness in conducting premium audits.

Timetable:
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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: 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
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4145. CALCULATION AND PAYMENT OF UNFUNDED NONGUARANTEED BENEFITS

Regulatory Plan:  This entry is Seq. No. 142 in Part II of this issue 
of the Federal Register.

RIN: 1212-AA54
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4146. 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 4044, subpart B

Legal Deadline: None

Abstract: Statutory changes necessitate several amendments to the 
PBGC's valuation of benefits regulation (29 CFR part 4044, subpart B). 
The PBGC also plans to update its mortality tables.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/00/97
NPRM Comment Period End         04/00/97

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-AA55

[[Page 63338]]

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4147. 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:  29 CFR 4000 et seq

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.

Timetable:
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Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/00/97
NPRM Comment Period End         05/00/97

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
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4148. 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 4041

Legal Deadline: None

Abstract: The PBGC's standard termination regulations (29 CFR part 
4041) 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                            12/00/96
NPRM Comment Period End         02/00/97

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
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PENSION BENEFIT GUARANTY CORPORATION (PBGC)            Final Rule Stage


  



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4149. 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 4006; 29 CFR 4007

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 parts 4006 and 4007). The PBGC 
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                    02/00/97

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
_______________________________________________________________________




4150. REPORTABLE EVENTS REQUIREMENTS

Regulatory Plan:  This entry is Seq. No. 143 in Part II of this issue 
of the Federal Register.

RIN: 1212-AA80

[[Page 63339]]

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PENSION BENEFIT GUARANTY CORPORATION (PBGC)           Long-Term Actions


  



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4151. PAYMENT OF BENEFITS IN PBGC-TRUSTEED PLANS

Priority:  Substantive, Nonsignificant

CFR Citation:  29 CFR 4022

Timetable: Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

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

RIN: 1212-AA35
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PENSION BENEFIT GUARANTY CORPORATION (PBGC)           Completed Actions


  



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4152. REORGANIZATION, RENUMBERING, AND REINVENTION OF REGULATIONS

Priority:  Info./Admin./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 4000 - 4907

Legal Deadline: None

Abstract: This rule reorganizes and renumbers 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. The rule also reinvents certain of the PBGC's regulations by 
making nonsubstantive corrections and clarifications and deleting 
material that is unnecessary or that has been substantially superseded 
(or is no longer applicable).

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                    07/01/96                    61 FR 34001
Final Action Effective          07/01/96

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
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4153. REINVENTION

Priority:  Info./Admin./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

________________________________________________________________________

Withdrawn in light of completion 
of 1212-AA75                    07/01/96

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
[FR Doc. 96-26276 Filed 11-27-96; 8:45 am]
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