[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 XXXVIII





Pension Benefit Guaranty Corporation





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Semiannual Regulatory Agenda

[[Page 23476]]



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: 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
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


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
_______________________________________________________________________




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
_______________________________________________________________________




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
_______________________________________________________________________




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
_______________________________________________________________________




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
_______________________________________________________________________


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
_______________________________________________________________________




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
_______________________________________________________________________




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
_______________________________________________________________________




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