[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 XXXIX





Pension Benefit Guaranty Corporation





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Semiannual Regulatory Agenda

[[Page 74074]]



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: September 7, 2006.

 Vincent K. Snowbarger,

Interim Director, Pension Benefit Guaranty Corporation.

                            Pension Benefit Guaranty Corporation--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3579        Reportable Events.....................................................................    1212-AB06
3580        Multiemployer Amendments..............................................................    1212-AB07
3581        Premium Rates; Payment of Premiums; Flat Premium Rates, Variable Rate Premium Cap, and    1212-AB10
            Termination Premium; Deficit Reduction Act of Act of 2005; Pension Protection Act of
            2006..................................................................................
3582        Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets.......    1212-AA55
3583        Payment of Benefits in PBGC-Trusteed Plans............................................    1212-AA98
3584        Annual Financial and Actuarial Information Reporting; Pension Protection Act of 2006..    1212-AB09
3585        Premium Rates; Payment of Premiums; Variable Rate Premium; Pension Protection Act of      1212-AB11
            2006..................................................................................
----------------------------------------------------------------------------------------------------------------


                             Pension Benefit Guaranty Corporation--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3586        Assessment Of and Relief From Information Penalties...................................    1212-AB04
3587        Mortality Assumptions.................................................................    1212-AB08
----------------------------------------------------------------------------------------------------------------


                             Pension Benefit Guaranty Corporation--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3588        Assessment Of and Relief From Premium Penalties.......................................    1212-AA95
3589        Filing Rules..........................................................................    1212-AB02
3590        Liability Pursuant to Section 4062(e) of ERISA........................................    1212-AB03
3591        Participant Notices...................................................................    1212-AB05
----------------------------------------------------------------------------------------------------------------


[[Page 74075]]

_______________________________________________________________________


Pension Benefit Guaranty Corporation (PBGC)         Proposed Rule Stage


  



_______________________________________________________________________




3579. 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                            04/00/07
NPRM Comment Period End         06/00/07

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
_______________________________________________________________________




3580. 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                            05/00/07
NPRM Comment Period End         07/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

URL For More Information:
www.pbgc.gov/regs

Agency Contact: Constance Markakis, Attorney, Legislative and 
Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K 
Street NW, Washington, DC 20005-4026
Phone: 202 326-4024
Fax: 202 326-4224
Email: [email protected]

RIN: 1212-AB07
_______________________________________________________________________




3581. [bull] PREMIUM RATES; PAYMENT OF PREMIUMS; FLAT PREMIUM RATES, 
VARIABLE RATE PREMIUM CAP, AND TERMINATION PREMIUM; DEFICIT REDUCTION 
ACT OF ACT OF 2005; PENSION PROTECTION ACT OF 2006

Priority: Substantive, Nonsignificant

Legal Authority: 29 USC 1302, 1303, 1306, 1307; sec 8101, PL 109-171; 
sec 405, PL 109-280

CFR Citation: 29 CFR 4006; 29 CFR 4007

Legal Deadline: None

Abstract: The PBGC is amending its regulations on Premium Rates and 
Payment of Premiums to implement certain provisions of the Deficit 
Reduction Act of 2005 and the Pension Protection Act of 2006 that are 
effective beginning in 2006 or 2007. The provisions that would be 
implemented by this rule change the flat premium rate, cap the 
variable-rate premium in some cases, and create a new ``termination 
premium'' that is payable in connection with certain distress and 
involuntary plan terminations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/07
NPRM Comment Period End         07/07/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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-AB10
_______________________________________________________________________




3582. 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                     07/00/07
Second NPRM Comment Period End  09/00/07

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

[[Page 74076]]

TDD Phone: 800 877-8339
Fax: 202 326-4224

RIN: 1212-AA55
_______________________________________________________________________




3583. 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                            04/00/07
NPRM Comment Period End         06/00/07

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: Catherine B. Klion, Manager, Regulatory and Policy 
Division, 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
_______________________________________________________________________




3584. [bull] ANNUAL FINANCIAL AND ACTUARIAL INFORMATION REPORTING; 
PENSION PROTECTION ACT OF 2006

Priority: Substantive, Nonsignificant

Legal Authority: 29 USC 1310

CFR Citation: 29 CFR 4010

Legal Deadline: None

Abstract: The Pension Protection Act of 2006 changes the rules for 
reporting under ERISA section 4010. The PBGC is amending its regulation 
on Annual Financial and Actuarial Information Reporting to implement 
these changes and to make clarifying changes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/07
NPRM Comment Period End         07/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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-AB09
_______________________________________________________________________




3585. [bull] PREMIUM RATES; PAYMENT OF PREMIUMS; VARIABLE RATE PREMIUM; 
PENSION PROTECTION ACT OF 2006

Priority: Substantive, Nonsignificant

Legal Authority: 29 USC 1306, 1307; sec 401, PL 109-280

CFR Citation: 29 CFR 4006; 29 CFR 4007

Legal Deadline: None

Abstract: The Pension Protection Act of 2006 changes the rules for 
computing the variable-rate premium. PBGC is amending its regulations 
on Premium Rates and Payment of Premiums to implement these changes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/07
NPRM Comment Period End         07/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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-AB11
_______________________________________________________________________


Pension Benefit Guaranty Corporation (PBGC)            Final Rule Stage


  



_______________________________________________________________________




3586. 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
Supplemental NPRM (Participant 
Notice)                         05/07/04                    69 FR 25797
Supplemental NPRM Comment Period 
End                             07/06/04
Final Action                    05/00/07
Final Action Effective          06/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

URL For More Information:
www.pbgc.gov/regs

[[Page 74077]]

URL For Public Comments:
www.pbgc.gov/regs

Agency Contact: Thomas H. Gabriel, Attorney, Legislative and Regulatory 
Department, Pension Benefit Guaranty Corporation, 1200 K Street NW, 
Washington, DC 20005-4026
Phone: 202 326-4024
TDD Phone: 800 877-8339
Fax: 202 326-4112

Related RIN: Split from 1212-AA95
RIN: 1212-AB04
_______________________________________________________________________




3587. [bull] MORTALITY ASSUMPTIONS

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

Legal Authority: 29 USC 1302(b)(3), 1350; 29 USC 1302(b)(3), 1341a, 
1399(c)(1)(D), and 1441

CFR Citation: 29 CFR 4050; 29 CFR 4281

Legal Deadline: None

Abstract: The PBGC is amending its regulation on Missing Participants 
to conform the mortality assumptions in that regulation to the updated 
mortality assumptions under its regulation on Allocation of Assets in 
Single Employer Plans. The PBGC is also amending its regulation on 
Duties of Plan Sponsor Following Mass Withdrawal to make a minor change 
in the mortality assumptions used for deferred annuities.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/06
Direct Final Rule               12/00/06

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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-AB08
_______________________________________________________________________


Pension Benefit Guaranty Corporation (PBGC)           Completed Actions


  



_______________________________________________________________________




3588. ASSESSMENT OF AND RELIEF FROM PREMIUM 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

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                    11/17/06                    71 FR 66867
Final Action Effective          12/18/06

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
_______________________________________________________________________




3589. 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 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                    06/01/06                    71 FR 31077
Final Action Effective          07/01/06

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
_______________________________________________________________________




3590. 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.

[[Page 74078]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/25/05                     70 FR 9258
NPRM Comment Period End         04/26/05
Final Action                    06/16/06                    71 FR 34819
Final Action Effective          07/17/06

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
_______________________________________________________________________




3591. 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

________________________________________________________________________

Withdrawn                       09/01/06

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, Manager, Regulatory and Policy 
Division, 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
[FR Doc. 06-7685 Filed 12-08-06; 8:45 am]
BILLING CODE 7709-01-S