Pendency of Request for Approval of Special Withdrawal Liability Rules; Service Employees International Union Local 1 Pension Trust Fund, 9114-9115 [E9-4312]
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Federal Register / Vol. 74, No. 39 / Monday, March 2, 2009 / Notices
SUMMARY: The Nuclear Regulatory
Commission’s (NRC’s) Office of Federal
and State Materials and Environmental
Management Programs (FSME) is
announcing the availability of NUREG–
1814, Revision 2, ‘‘Status of
Decommissioning Program—2008
Annual Report.’’ This NUREG provides
a comprehensive overview of the NRC’s
decommissioning program. Its purpose
is to provide a stand-alone reference
document, which describes the
decommissioning process and
summarizes the current status of all
decommissioning activities including
the decommissioning of complex
decommissioning sites, commercial
reactors, research and test reactors,
uranium mill tailings facilities, and fuel
cycle facilities. In addition, this report
discusses accomplishments in the
decommissioning program since
publication of the 2007 Annual Report
(SECY–07–0209); identifies the key
decommissioning program issues,
which the staff will address in fiscal
year 2009; and provides information
Agreement States have supplied on
decommissioning in their States.
ADDRESSES: NUREG–1814, Revision 2, is
available for inspection and copying for
a fee at the Commission’s Public
Document Room, U.S. NRC’s
Headquarters Building, 11555 Rockville
Pike (First Floor), Rockville, Maryland.
The Public Document Room is open
from 7:45 a.m. to 4:15 p.m., Monday
through Friday, except on Federal
holidays. NUREG–1814, Revision 2, also
is available electronically from the
ADAMS Electronic Reading Room on
the NRC Web site at: https://
www.nrc.gov/reading-rm/adams.html,
and on the NRC Web site at: https://
www.nrc.gov/reading-rm/doc-collection.
Copies of NUREG–1814, Revision 2,
also may be purchased from one of these
two sources: (1) The Superintendent of
Documents, U.S. Government Printing
Office, Mail Stop: SSOP, Washington,
DC 20402–0001; Internet: https://
bookstore.gpo.gov/; telephone: 202–
512–1800; fax: 202–512–2250; or (2) The
National Technical Information Service,
Springfield, VA 22161–0002, Internet:
https://www.ntis.gov; telephone 1–800–
553–6847 or, locally, 703–605–6000.
FOR FURTHER INFORMATION, CONTACT: Mr.
Richard Chang, Mail Stop: T–8F5, U.S.
Nuclear Regulatory Commission,
Washington, DC 20555–0001.
Telephone: (301) 415–7188; Internet:
richard.chang@nrc.gov.
Small Business Regulatory Enforcement
Fairness Act
In accordance with the Small
Business Regulatory Enforcement
VerDate Nov<24>2008
12:24 Feb 27, 2009
Jkt 217001
Fairness Act of 1996, the NRC has
determined that this action is not a rule
and has verified this determination with
the NRC’s Office of the General Counsel.
Dated at Rockville, MD, this 23 day of
February, 2009.
For the Nuclear Regulatory Commission.
Keith I. McConnell,
Deputy Director, Decommissioning and
Uranium Recovery Licensing Directorate,
Division of Waste Management and
Environmental Protection, Office of Federal
and State Materials and Environmental
Management Programs.
[FR Doc. E9–4331 Filed 2–27–09; 8:45 am]
BILLING CODE 7590–01–P
PENSION BENEFIT GUARANTY
CORPORATION
Pendency of Request for Approval of
Special Withdrawal Liability Rules;
Service Employees International Union
Local 1 Pension Trust Fund
AGENCY: Pension Benefit Guaranty
Corporation.
ACTION: Notice of pendency of request.
SUMMARY: The Pension Benefit Guaranty
Corporation (‘‘PBGC’’) has received a
request from the Service Employees
International Union Local 1 Pension
Trust Fund for approval of a plan
amendment providing for special
withdrawal liability rules. Under
section 4203(f) of the Employee
Retirement Income Security Act of 1974
and the PBGC’s regulation on Extension
of Special Withdrawal Liability Rules, a
multiemployer pension plan may, with
PBGC approval, be amended to provide
for special withdrawal liability rules
similar to those that apply to the
construction and entertainment
industries. Such approval is granted
only if the PBGC determines that the
plan amendment will be used in an
industry with characteristics that would
make use of the special rules
appropriate and that the plan
amendment would not pose a
significant risk to the PBGC. This notice
advises interested persons of the
pendency of this request and invites
public comment.
DATES: Comments must be submitted by
April 16, 2009.
ADDRESSES: Comments may be mailed to
the Office of the Chief Counsel, Pension
Benefit Guaranty Corporation, 1200 K
Street, NW., Washington, DC 20005–
4026, or delivered to Suite 340 at the
above address. Comments also may be
submitted electronically through the
PBGC’s Web site at https://
reg.comments@pbgc.gov or by fax to
202–326–4112. Copies of the request for
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Frm 00039
Fmt 4703
Sfmt 4703
approval and any comments may be
obtained by writing to the PBGC’s
Communications and Public Affairs
Department at Suite 1200 at the above
address or by visiting that office or
calling 202–326–4040 during normal
business hours. (TTY and TDD users
may call the Federal relay service tollfree at 1–800–877–8339 and ask to be
connected to 202–326–4040.) Copies of
the PBGC’s regulation on Extension of
Special Withdrawal Liability Rules (29
CFR part 4203) and of the originating
request for approval may be accessed
through the PBGC’s Web site (https://
www.pbgc.gov).
FOR FURTHER INFORMATION CONTACT: Eric
Field, Attorney, Office of the Chief
Counsel, Pension Benefit Guaranty
Corporation, 1200 K Street, NW.,
Washington, DC 20005–4026; telephone
202–326–4020. (TTY and TDD users
may call the Federal relay service tollfree at 1–800–877–8339 and ask to be
connected to 202–326–4020).
SUPPLEMENTARY INFORMATION:
Background
Under section 4203(a) of ERISA, a
complete withdrawal from a
multiemployer plan generally occurs
when an employer permanently ceases
to have an obligation to contribute
under the plan or permanently ceases
all covered operations under the plan.
Under section 4205 of ERISA, a partial
withdrawal generally occurs when an
employer (1) Reduces its contribution
base units by seventy percent in each of
three consecutive years, or (2)
permanently ceases to have an
obligation to contribute under one or
more but fewer than all collective
bargaining agreements under which the
employer has been obligated to
contribute under the plan, while either
continuing to perform work in the
jurisdiction of the collective bargaining
agreement of the type for which
contributions were previously required
or transferring such work to another
location or to an entity or entities
owned or controlled by the employer, or
(3) permanently ceases to have an
obligation to contribute under the plan
for work performed at one or more but
fewer than all of its facilities, while
continuing to perform work at the
facility of the type for which the
obligation to contribute ceased.
Although the general rules on
complete and partial withdrawal are
based on events that normally result in
a diminution of the plan’s contribution
base, Congress recognized that, in
certain industries and under certain
circumstances, a complete or partial
cessation of the obligation to contribute
E:\FR\FM\02MRN1.SGM
02MRN1
erowe on PROD1PC63 with NOTICES
Federal Register / Vol. 74, No. 39 / Monday, March 2, 2009 / Notices
does not normally weaken the plan’s
contribution base. For that reason,
Congress established special withdrawal
rules for the construction and
entertainment industries.
For construction industry plans and
employers, section 4203(b)(2) of ERISA
provides that a complete withdrawal
occurs only if an employer ceases to
have an obligation to contribute under
a plan, and the employer either
continues to perform previously covered
work in the jurisdiction of the collective
bargaining agreement or resumes such
work within five years without
renewing the obligation to contribute at
the time of resumption. Section
4203(c)(1) of ERISA applies the same
special definition of complete
withdrawal to the entertainment
industry, except that the pertinent
jurisdiction is the jurisdiction of the
plan rather than the jurisdiction of the
collective bargaining agreement. In
contrast, the general definition of
complete withdrawal in section 4203(a)
of ERISA defines a withdrawal to
include permanent cessation of the
obligation to contribute regardless of the
continued activities of the withdrawn
employer.
Congress also established special
partial withdrawal liability rules for the
construction and entertainment
industries. Under section 4208(d)(1) of
ERISA, ‘‘[a]n employer to whom section
4203(b) (relating to the building and
construction industry) applies is liable
for a partial withdrawal only if the
employer’s obligation to contribute
under the plan is continued for no more
than an insubstantial portion of its work
in the craft and area jurisdiction of the
collective bargaining agreement of the
type for which contributions are
required.’’ Under section 4208(d)(2) of
ERISA, ‘‘[a]n employer to whom section
4203(c) (relating to the entertainment
industry) applies shall have no liability
for a partial withdrawal except under
the conditions and to the extent
prescribed by the [PBGC] by
regulation.’’
Section 4203(f) of ERISA provides
that the PBGC may prescribe regulations
under which plans in other industries
may be amended to provide for special
withdrawal liability rules similar to the
rules prescribed in section 4203(b) and
(c) of ERISA. Section 4203(f)(2) of
ERISA provides that such regulations
shall permit the use of special
withdrawal liability rules only in
industries (or portions thereof) in which
the PBGC determines that the
characteristics that would make use of
such rules appropriate are clearly
shown, and that the use of such rules
would not pose a significant risk to the
VerDate Nov<24>2008
12:24 Feb 27, 2009
Jkt 217001
insurance system under Title IV of
ERISA. Section 4208(e)(3) of ERISA
provides that the PBGC shall prescribe
by regulation a procedure by which
plans may be amended to adopt special
partial withdrawal liability rules upon a
finding by the PBGC that the adoption
of such rules is consistent with the
purposes of Title IV of ERISA.
The PBGC’s regulation, Extension of
Special Withdrawal Liability Rules (29
CFR part 4203), prescribes procedures
whereby a multiemployer plan may ask
PBGC to approve a plan amendment
that establishes special complete or
partial withdrawal liability rules. The
regulation may be accessed on the
PBGC’s Web site (https://www.pbgc.gov).
Request
The PBGC has received a request from
the Service Employees International
Union Local 1 Pension Trust Fund
(‘‘Local 1 Plan’’) for approval of a plan
amendment providing for special
withdrawal liability rules. A copy of the
originating request, and PBGC’s
summary of the actuarial reports that
the plan provided, may be accessed on
the PBGC’s Web site (https://
www.pbgc.gov). A copy of the complete
filing may be requested from the PBGC
Disclosure Officer. The fax number is
202–326–4042. It may also be obtained
by writing the Communications and
Public Affairs Department, PBGC, 1200
K Street, NW., Suite 1200, Washington,
DC 20005.
In brief, the Local 1 Plan, a
multiemployer plan covering the
residential building cleaning industry in
Chicago, represents that the industry
has characteristics similar to those of
the construction industry. The plan has
adopted an amendment prescribing
special withdrawal liability rules,
which, if approved by the PBGC, would
be effective as of July 1, 2005. Under the
proposed amendment, complete
withdrawal of an employer would occur
only under conditions similar to those
described in ERISA section 4203(b)(2),
or certain other conditions including a
mass withdrawal. Partial withdrawal of
an employer would occur only under
conditions similar to those described in
ERISA section 4208(d)(1). The request
includes actuarial data to support the
plan’s contention that the amendment
will not pose a significant risk to the
insurance system under Title IV of
ERISA.
Comments
All interested persons are invited to
submit written comments concerning
the pending request to the PBGC at the
above address by April 16, 2009. All
comments will be made a part of the
PO 00000
Frm 00040
Fmt 4703
Sfmt 4703
9115
record. Comments received will be
available for public inspection at the
address set forth above.
Issued in Washington, DC, on this 17th day
of February, 2009.
Vincent K. Snowbarger,
Acting Director, Pension Benefit Guaranty
Corporation.
[FR Doc. E9–4312 Filed 2–27–09; 8:45 am]
BILLING CODE 7708–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59435; File No. SR–CBOE–
2009–007]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing of
Proposed Rule Change Relating to
Tied Hedge Transactions
February 23, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
13, 2009, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to adopt
Interpretation and Policy .10 to Rule
6.74, Crossing Orders, to allow hedging
stock, security future or futures contract
positions to be represented currently
with option facilitations or solicitations
in the trading crowd (‘‘tied hedge’’
orders). The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.cboe.org/Legal), at
the Office of the Secretary, CBOE and at
the Commission.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CBOE included statements concerning
the purpose of, and basis for, the
proposed rule change and discussed any
comments it received on the proposed
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\02MRN1.SGM
02MRN1
]]>Agencies
[Federal Register Volume 74, Number 39 (Monday, March 2, 2009)]
[Notices]
[Pages 9114-9115]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4312]
=======================================================================
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PENSION BENEFIT GUARANTY CORPORATION
Pendency of Request for Approval of Special Withdrawal Liability
Rules; Service Employees International Union Local 1 Pension Trust Fund
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of pendency of request.
-----------------------------------------------------------------------
SUMMARY: The Pension Benefit Guaranty Corporation (``PBGC'') has
received a request from the Service Employees International Union Local
1 Pension Trust Fund for approval of a plan amendment providing for
special withdrawal liability rules. Under section 4203(f) of the
Employee Retirement Income Security Act of 1974 and the PBGC's
regulation on Extension of Special Withdrawal Liability Rules, a
multiemployer pension plan may, with PBGC approval, be amended to
provide for special withdrawal liability rules similar to those that
apply to the construction and entertainment industries. Such approval
is granted only if the PBGC determines that the plan amendment will be
used in an industry with characteristics that would make use of the
special rules appropriate and that the plan amendment would not pose a
significant risk to the PBGC. This notice advises interested persons of
the pendency of this request and invites public comment.
DATES: Comments must be submitted by April 16, 2009.
ADDRESSES: Comments may be mailed to the Office of the Chief Counsel,
Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington,
DC 20005-4026, or delivered to Suite 340 at the above address. Comments
also may be submitted electronically through the PBGC's Web site at
http://reg.comments@pbgc.gov or by fax to 202-326-4112. Copies of the
request for approval and any comments may be obtained by writing to the
PBGC's Communications and Public Affairs Department at Suite 1200 at
the above address or by visiting that office or calling 202-326-4040
during normal business hours. (TTY and TDD users may call the Federal
relay service toll-free at 1-800-877-8339 and ask to be connected to
202-326-4040.) Copies of the PBGC's regulation on Extension of Special
Withdrawal Liability Rules (29 CFR part 4203) and of the originating
request for approval may be accessed through the PBGC's Web site
(https://www.pbgc.gov).
FOR FURTHER INFORMATION CONTACT: Eric Field, Attorney, Office of the
Chief Counsel, Pension Benefit Guaranty Corporation, 1200 K Street,
NW., Washington, DC 20005-4026; telephone 202-326-4020. (TTY and TDD
users may call the Federal relay service toll-free at 1-800-877-8339
and ask to be connected to 202-326-4020).
SUPPLEMENTARY INFORMATION:
Background
Under section 4203(a) of ERISA, a complete withdrawal from a
multiemployer plan generally occurs when an employer permanently ceases
to have an obligation to contribute under the plan or permanently
ceases all covered operations under the plan. Under section 4205 of
ERISA, a partial withdrawal generally occurs when an employer (1)
Reduces its contribution base units by seventy percent in each of three
consecutive years, or (2) permanently ceases to have an obligation to
contribute under one or more but fewer than all collective bargaining
agreements under which the employer has been obligated to contribute
under the plan, while either continuing to perform work in the
jurisdiction of the collective bargaining agreement of the type for
which contributions were previously required or transferring such work
to another location or to an entity or entities owned or controlled by
the employer, or (3) permanently ceases to have an obligation to
contribute under the plan for work performed at one or more but fewer
than all of its facilities, while continuing to perform work at the
facility of the type for which the obligation to contribute ceased.
Although the general rules on complete and partial withdrawal are
based on events that normally result in a diminution of the plan's
contribution base, Congress recognized that, in certain industries and
under certain circumstances, a complete or partial cessation of the
obligation to contribute
[[Page 9115]]
does not normally weaken the plan's contribution base. For that reason,
Congress established special withdrawal rules for the construction and
entertainment industries.
For construction industry plans and employers, section 4203(b)(2)
of ERISA provides that a complete withdrawal occurs only if an employer
ceases to have an obligation to contribute under a plan, and the
employer either continues to perform previously covered work in the
jurisdiction of the collective bargaining agreement or resumes such
work within five years without renewing the obligation to contribute at
the time of resumption. Section 4203(c)(1) of ERISA applies the same
special definition of complete withdrawal to the entertainment
industry, except that the pertinent jurisdiction is the jurisdiction of
the plan rather than the jurisdiction of the collective bargaining
agreement. In contrast, the general definition of complete withdrawal
in section 4203(a) of ERISA defines a withdrawal to include permanent
cessation of the obligation to contribute regardless of the continued
activities of the withdrawn employer.
Congress also established special partial withdrawal liability
rules for the construction and entertainment industries. Under section
4208(d)(1) of ERISA, ``[a]n employer to whom section 4203(b) (relating
to the building and construction industry) applies is liable for a
partial withdrawal only if the employer's obligation to contribute
under the plan is continued for no more than an insubstantial portion
of its work in the craft and area jurisdiction of the collective
bargaining agreement of the type for which contributions are
required.'' Under section 4208(d)(2) of ERISA, ``[a]n employer to whom
section 4203(c) (relating to the entertainment industry) applies shall
have no liability for a partial withdrawal except under the conditions
and to the extent prescribed by the [PBGC] by regulation.''
Section 4203(f) of ERISA provides that the PBGC may prescribe
regulations under which plans in other industries may be amended to
provide for special withdrawal liability rules similar to the rules
prescribed in section 4203(b) and (c) of ERISA. Section 4203(f)(2) of
ERISA provides that such regulations shall permit the use of special
withdrawal liability rules only in industries (or portions thereof) in
which the PBGC determines that the characteristics that would make use
of such rules appropriate are clearly shown, and that the use of such
rules would not pose a significant risk to the insurance system under
Title IV of ERISA. Section 4208(e)(3) of ERISA provides that the PBGC
shall prescribe by regulation a procedure by which plans may be amended
to adopt special partial withdrawal liability rules upon a finding by
the PBGC that the adoption of such rules is consistent with the
purposes of Title IV of ERISA.
The PBGC's regulation, Extension of Special Withdrawal Liability
Rules (29 CFR part 4203), prescribes procedures whereby a multiemployer
plan may ask PBGC to approve a plan amendment that establishes special
complete or partial withdrawal liability rules. The regulation may be
accessed on the PBGC's Web site (https://www.pbgc.gov).
Request
The PBGC has received a request from the Service Employees
International Union Local 1 Pension Trust Fund (``Local 1 Plan'') for
approval of a plan amendment providing for special withdrawal liability
rules. A copy of the originating request, and PBGC's summary of the
actuarial reports that the plan provided, may be accessed on the PBGC's
Web site (https://www.pbgc.gov). A copy of the complete filing may be
requested from the PBGC Disclosure Officer. The fax number is 202-326-
4042. It may also be obtained by writing the Communications and Public
Affairs Department, PBGC, 1200 K Street, NW., Suite 1200, Washington,
DC 20005.
In brief, the Local 1 Plan, a multiemployer plan covering the
residential building cleaning industry in Chicago, represents that the
industry has characteristics similar to those of the construction
industry. The plan has adopted an amendment prescribing special
withdrawal liability rules, which, if approved by the PBGC, would be
effective as of July 1, 2005. Under the proposed amendment, complete
withdrawal of an employer would occur only under conditions similar to
those described in ERISA section 4203(b)(2), or certain other
conditions including a mass withdrawal. Partial withdrawal of an
employer would occur only under conditions similar to those described
in ERISA section 4208(d)(1). The request includes actuarial data to
support the plan's contention that the amendment will not pose a
significant risk to the insurance system under Title IV of ERISA.
Comments
All interested persons are invited to submit written comments
concerning the pending request to the PBGC at the above address by
April 16, 2009. All comments will be made a part of the record.
Comments received will be available for public inspection at the
address set forth above.
Issued in Washington, DC, on this 17th day of February, 2009.
Vincent K. Snowbarger,
Acting Director, Pension Benefit Guaranty Corporation.
[FR Doc. E9-4312 Filed 2-27-09; 8:45 am]
BILLING CODE 7708-01-P
