[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 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
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
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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
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                             Pension Benefit Guaranty Corporation--Final Rule Stage
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
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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






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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