Special Rights for Transferred Employees Under the Dodd-Frank Act Regarding Federal Employees' Group Life Insurance, 60235-60236 [2016-21077]

Download as PDF 60235 Rules and Regulations Federal Register Vol. 81, No. 170 Thursday, September 1, 2016 This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. Prices of new books are listed in the first FEDERAL REGISTER issue of each week. OFFICE OF PERSONNEL MANAGEMENT 5 CFR Part 870 RIN 3206–AM81 Special Rights for Transferred Employees Under the Dodd-Frank Act Regarding Federal Employees’ Group Life Insurance U.S. Office of Personnel Management. ACTION: Final rulemaking. AGENCY: The U.S. Office of Personnel Management (OPM) is issuing a Final Rulemaking to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act). The Act includes authorization for certain transferred employees to have a special enrollment opportunity and special rights regarding Federal Employees’ Group Life Insurance (FEGLI) to ensure their continuity of benefits coverage. DATES: Effective September 1, 2016. FOR FURTHER INFORMATION CONTACT: Rachel Royster, Senior Policy Analyst, Planning and Policy Analysis, U.S. Office of Personnel Management, 1900 E Street NW., Washington, DC 20415. SUPPLEMENTARY INFORMATION: On January 6, 2014, the U.S. Office of Personnel Management (OPM) published a proposed regulation at 79 FR 613. The Administrative Procedures Act requires Federal agencies to publish a final regulation after a notice and comment period. Therefore, OPM is now finalizing this rule. The rule gave special FEGLI rights to the following employees who were carrying employer sponsored life insurance other than FEGLI: Employees from Office of Thrift Supervision (OTS) transferred to Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) under the Act (Pub. L. 111–203). The new regulatory asabaliauskas on DSK3SPTVN1PROD with RULES SUMMARY: VerDate Sep<11>2014 16:43 Aug 31, 2016 Jkt 238001 provisions include new subparts in part 870 of title 5 of the Code of Federal Regulations. Authorizing legislation: Section 322 of Public Law 111–203 discusses the transfer of employees and their special FEGLI rights. Section 322 Transfer of Employees From OTS to OCC or FDIC The relevant portions of this section states that if, after the 1-year period beginning on the transfer date, the Office of the Comptroller of the Currency or the Corporation determines that the Office of the Comptroller of the Currency or the Corporation will not continue to participate in any dental, vision or life insurance program of an agency from which an employee was transferred, a transferred employee who is a member of the program may, before the decision takes effect and without regard to any regularly scheduled open season, elect to enroll in the Federal Employees’ Group Life Insurance Program established under chapter 87 of title 5, United States Code, without regard to any requirement of insurability. For any transferred employee, enrollment in a life insurance plan administered by the agency from which the employee transferred, immediately before enrollment in a life insurance plan under chapter 87 of title 5, United States Code, shall be considered as enrollment in a life insurance plan under that chapter for the purpose of 8706(b)(1)(A) of title 5, United States Code. These provisions allow a transferring employee that participated in an OTS life insurance program that is no longer available at OCC or FDIC to have a special enrollment period for FEGLI. OTS maintained the Office of Thrift Supervision Group Life Insurance Program in which OCC and FDIC did not continue to participate. Therefore, at approximately one year after the transfer date, July 21, 2011, OPM held a special enrollment period for transferred employees participating in Office of Thrift Supervision Group Life Insurance Program to enroll in FEGLI. The special enrollment period began on June 1, 2012 and ended July 29, 2012. Any employee that enrolled in FEGLI during this special enrollment period will have their time in a life insurance plan administered by OTS credited towards their 5 years of continuous PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 enrollment to continue FEGLI coverage into retirement. There were other provisions in the Dodd-Frank Act relating to FEGLI coverage discussed in the Notice of Proposed Rulemaking. However, these do not require further changes in FEGLI rulemaking. We received no comments on the proposed rule. Regulatory Impact Analysis: OPM has examined the impact of this proposed rule as required by Executive Order 12866 and Executive Order 13563, which directs agencies to assess all costs and benefits of available regulatory alternatives and, if regulation is necessary, to select regulatory approaches that maximize net benefits (including potential economic, environmental, public, health, and safety effects, distributive impacts, and equity). A regulatory impact analysis must be prepared for major rules with economically significant effects of $100 million or more in any one year. This rule is not considered a major rule because OPM expects that this rule will not impose costs of more than $100 million in any one year. Executive Orders 13563 and 12866, Regulatory Review This rule has been reviewed by the Office of Management and Budget in accordance with Executive Orders 13563 and 12866. Federalism We have examined this rule in accordance with Executive Order 13132, ‘‘Federalism,’’ and have determined that this rule will not have any negative impact on the rights, roles and responsibilities of State, local, or tribal governments. List of Subjects in 5 CFR Part 870 Administrative practice and procedure, Government employees, Life insurance. U.S. Office of Personnel Management. Beth F. Cobert, Acting Director. For the reasons set forth in the preamble, the U.S. Office of Personnel Management amends 5 CFR part 870 as follows: E:\FR\FM\01SER1.SGM 01SER1 60236 Federal Register / Vol. 81, No. 170 / Thursday, September 1, 2016 / Rules and Regulations Title 5—Administrative Personnel ACTION: PART 870—FEDERAL EMPLOYEES’ GROUP LIFE INSURANCE PROGRAM SUMMARY: 1. The authority citation for part 870 is revised to read as follows: ■ Authority: 5 U.S.C. 8716; Subpart J also issued under section 599C of Pub. L. 101– 513, 104 Stat. 2064, as amended; Sec. 870.302(a)(3)(ii) also issued under section 153 of Pub. L. 104–134, 110 Stat. 1321; Sec. 870.302(a)(3) also issued under sections 11202(f), 11232(e), and 11246(b) and (c) of Pub. L. 105–33, 111 Stat. 251, and section 7(e) of Pub. L. 105–274, 112 Stat. 2419; Sec. 870.302(a)(3) also issued under section 145 of Pub. L. 106–522, 114 Stat. 2472; Secs. 870.302(b)(8), 870.601(a), and 870.602(b) also issued under Pub. L. 110–279, 122 Stat. 2604; Subpart E also issued under 5 U.S.C. 8702(c); Sec. 870.601(d)(3) also issued under 5 U.S.C. 8706(d); Sec. 870.703(e)(1) also issued under section 502 of Pub. L. 110–177, 121 Stat. 2542; Sec. 870.705 also issued under 5 U.S.C. 8714b(c) and 8714c(c); Public Law 104–106, 110 Stat. 521. 2. In § 870.701, add paragraph (f) to read as follows: ■ § 870.701 Eligibility for life insurance. * * * * * (f) An individual’s period of coverage in a life insurance plan is credited to the 5 years of service under paragraph (a)(2) of this section if: (1) He/she participated in the Office of Thrift Supervision (OTS) life insurance plan and transferred to the Office of the Comptroller of the Currency or the Federal Deposit Insurance Corporation under the DoddFrank Wall Street Reform and Consumer Protection Act, Public Law 111–203; and (2) Elected FEGLI coverage during the special enrollment period between June 1, 2012 and July 29, 2012. Evidence of the non-FEGLI period of continuous coverage will be documented in a manner designated by OPM. [FR Doc. 2016–21077 Filed 8–31–16; 8:45 am] BILLING CODE 6325–63–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration asabaliauskas on DSK3SPTVN1PROD with RULES 14 CFR Part 25 [Docket No. FAA–2016–4138; Special Conditions No. 25–635–SC] Special Conditions: Bombardier Inc., Model BD–700–2A12 and BD–700– 2A13 Airplanes; Interactions of Systems and Structures Federal Aviation Administration (FAA), DOT. AGENCY: VerDate Sep<11>2014 16:43 Aug 31, 2016 Jkt 238001 Final special conditions; request for comments. These special conditions are issued for the Bombardier Inc. (Bombardier) Model BD–700–2A12 and BD–700–2A13 airplanes. These airplanes will have novel or unusual features when compared to the state of technology envisioned in the airworthiness standards for transportcategory airplanes. These design features include systems that, directly or as a result of failure or malfunction, affect structural performance. The applicable airworthiness regulations do not contain adequate or appropriate safety standards for these design features. These special conditions contain the additional safety standards that the Administrator considers necessary to establish a level of safety equivalent to that established by the existing airworthiness standards. DATES: This action is effective on Bombardier on September 1, 2016. We must receive your comments by October 17, 2016. ADDRESSES: Send comments identified by docket number FAA–2016–4138 using any of the following methods: • Federal eRegulations Portal: Go to https://www.regulations.gov/ and follow the online instructions for sending your comments electronically. • Mail: Send comments to Docket Operations, M–30, U.S. Department of Transportation (DOT), 1200 New Jersey Avenue SE., Room W12–140, West Building Ground Floor, Washington, DC 20590–0001. • Hand Delivery or Courier: Take comments to Docket Operations in Room W12–140 of the West Building Ground Floor at 1200 New Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except federal holidays. • Fax: Fax comments to Docket Operations at 202–493–2251. Privacy: The FAA will post all comments it receives, without change, to https://www.regulations.gov/, including any personal information the commenter provides. Using the search function of the docket Web site, anyone can find and read the electronic form of all comments received into any FAA docket, including the name of the individual sending the comment (or signing the comment for an association, business, labor union, etc.). DOT’s complete Privacy Act Statement can be found in the Federal Register published on April 11, 2000 (65 FR 19477–19478), as well as at https://DocketsInfo .dot.gov/. Docket: Background documents or comments received may be read at PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 https://www.regulations.gov/ at any time. Follow the online instructions for accessing the docket or go to the Docket Operations in Room W12–140 of the West Building Ground Floor at 1200 New Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except federal holidays. FOR FURTHER INFORMATION CONTACT: Mark Freisthler, FAA, Airframe and Cabin Safety Branch, ANM–115, Transport Airplane Directorate, Aircraft Certification Service, 1601 Lind Avenue SW., Renton, Washington 98057–3356; telephone 425–227–1119; facsimile 425–227–1232. SUPPLEMENTARY INFORMATION: Comments Invited We invite interested people to take part in this rulemaking by sending written comments, data, or views. The most helpful comments reference a specific portion of the special conditions, explain the reason for any recommended change, and include supporting data. We will consider all comments we receive on or before the closing date for comments. We may change these special conditions based on the comments we receive. Background On May 30, 2012, Bombardier applied for an amendment to type certificate no. T00003NY to include the new Model BD–700–2A12 and BD–700–2A13 airplanes. These airplanes are derivatives of the Model BD–700 series of airplanes currently approved under type certificate no. T00003NY, and are marketed as the Bombardier Global 7000 (Model BD–700–2A12) and Global 8000 (Model BD–700–2A13). These airplanes are ultra-long-range, executive-interior business jets. Type Certification Basis Under the provisions of Title 14, Code of Federal Regulations (14 CFR) 21.101, Bombardier must show that the Model BD–700–2A12 and BD–700–2A13 airplanes meet the applicable provisions of the regulations listed in type certificate no. T00003NY, or the applicable regulations in effect on the date of application for the change, except for earlier amendments as agreed upon by the FAA. If the Administrator finds that the applicable airworthiness regulations (i.e., 14 CFR part 25) do not contain adequate or appropriate safety standards for the BD–700–2A12 and BD–700– 2A13 airplanes because of a novel or unusual design feature, special conditions are prescribed under the provisions of § 21.16. E:\FR\FM\01SER1.SGM 01SER1

Agencies

Office of Personnel Management

[Federal Register Volume 81, Number 170 (Thursday, September 1, 2016)]
[Rules and Regulations]
[Pages 60235-60236]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21077]



========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 
Prices of new books are listed in the first FEDERAL REGISTER issue of each 
week.

========================================================================


Federal Register / Vol. 81, No. 170 / Thursday, September 1, 2016 / 
Rules and Regulations

[[Page 60235]]



OFFICE OF PERSONNEL MANAGEMENT

5 CFR Part 870

RIN 3206-AM81


Special Rights for Transferred Employees Under the Dodd-Frank Act 
Regarding Federal Employees' Group Life Insurance

AGENCY: U.S. Office of Personnel Management.

ACTION: Final rulemaking.

-----------------------------------------------------------------------

SUMMARY: The U.S. Office of Personnel Management (OPM) is issuing a 
Final Rulemaking to implement provisions of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act (the Act). The Act includes 
authorization for certain transferred employees to have a special 
enrollment opportunity and special rights regarding Federal Employees' 
Group Life Insurance (FEGLI) to ensure their continuity of benefits 
coverage.

DATES: Effective September 1, 2016.

FOR FURTHER INFORMATION CONTACT: Rachel Royster, Senior Policy Analyst, 
Planning and Policy Analysis, U.S. Office of Personnel Management, 1900 
E Street NW., Washington, DC 20415.

SUPPLEMENTARY INFORMATION: On January 6, 2014, the U.S. Office of 
Personnel Management (OPM) published a proposed regulation at 79 FR 
613. The Administrative Procedures Act requires Federal agencies to 
publish a final regulation after a notice and comment period. 
Therefore, OPM is now finalizing this rule. The rule gave special FEGLI 
rights to the following employees who were carrying employer sponsored 
life insurance other than FEGLI: Employees from Office of Thrift 
Supervision (OTS) transferred to Office of the Comptroller of the 
Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) under 
the Act (Pub. L. 111-203). The new regulatory provisions include new 
subparts in part 870 of title 5 of the Code of Federal Regulations.
    Authorizing legislation: Section 322 of Public Law 111-203 
discusses the transfer of employees and their special FEGLI rights.

Section 322 Transfer of Employees From OTS to OCC or FDIC

    The relevant portions of this section states that if, after the 1-
year period beginning on the transfer date, the Office of the 
Comptroller of the Currency or the Corporation determines that the 
Office of the Comptroller of the Currency or the Corporation will not 
continue to participate in any dental, vision or life insurance program 
of an agency from which an employee was transferred, a transferred 
employee who is a member of the program may, before the decision takes 
effect and without regard to any regularly scheduled open season, elect 
to enroll in the Federal Employees' Group Life Insurance Program 
established under chapter 87 of title 5, United States Code, without 
regard to any requirement of insurability.
    For any transferred employee, enrollment in a life insurance plan 
administered by the agency from which the employee transferred, 
immediately before enrollment in a life insurance plan under chapter 87 
of title 5, United States Code, shall be considered as enrollment in a 
life insurance plan under that chapter for the purpose of 8706(b)(1)(A) 
of title 5, United States Code.
    These provisions allow a transferring employee that participated in 
an OTS life insurance program that is no longer available at OCC or 
FDIC to have a special enrollment period for FEGLI. OTS maintained the 
Office of Thrift Supervision Group Life Insurance Program in which OCC 
and FDIC did not continue to participate. Therefore, at approximately 
one year after the transfer date, July 21, 2011, OPM held a special 
enrollment period for transferred employees participating in Office of 
Thrift Supervision Group Life Insurance Program to enroll in FEGLI. The 
special enrollment period began on June 1, 2012 and ended July 29, 
2012.
    Any employee that enrolled in FEGLI during this special enrollment 
period will have their time in a life insurance plan administered by 
OTS credited towards their 5 years of continuous enrollment to continue 
FEGLI coverage into retirement.
    There were other provisions in the Dodd-Frank Act relating to FEGLI 
coverage discussed in the Notice of Proposed Rulemaking. However, these 
do not require further changes in FEGLI rulemaking. We received no 
comments on the proposed rule.
    Regulatory Impact Analysis: OPM has examined the impact of this 
proposed rule as required by Executive Order 12866 and Executive Order 
13563, which directs agencies to assess all costs and benefits of 
available regulatory alternatives and, if regulation is necessary, to 
select regulatory approaches that maximize net benefits (including 
potential economic, environmental, public, health, and safety effects, 
distributive impacts, and equity). A regulatory impact analysis must be 
prepared for major rules with economically significant effects of $100 
million or more in any one year. This rule is not considered a major 
rule because OPM expects that this rule will not impose costs of more 
than $100 million in any one year.

Executive Orders 13563 and 12866, Regulatory Review

    This rule has been reviewed by the Office of Management and Budget 
in accordance with Executive Orders 13563 and 12866.

Federalism

    We have examined this rule in accordance with Executive Order 
13132, ``Federalism,'' and have determined that this rule will not have 
any negative impact on the rights, roles and responsibilities of State, 
local, or tribal governments.

 List of Subjects in 5 CFR Part 870

    Administrative practice and procedure, Government employees, Life 
insurance.

U.S. Office of Personnel Management.
Beth F. Cobert,
Acting Director.

    For the reasons set forth in the preamble, the U.S. Office of 
Personnel Management amends 5 CFR part 870 as follows:

[[Page 60236]]

Title 5--Administrative Personnel

PART 870--FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM

0
1. The authority citation for part 870 is revised to read as follows:

    Authority: 5 U.S.C. 8716; Subpart J also issued under section 
599C of Pub. L. 101-513, 104 Stat. 2064, as amended; Sec. 
870.302(a)(3)(ii) also issued under section 153 of Pub. L. 104-134, 
110 Stat. 1321; Sec. 870.302(a)(3) also issued under sections 
11202(f), 11232(e), and 11246(b) and (c) of Pub. L. 105-33, 111 
Stat. 251, and section 7(e) of Pub. L. 105-274, 112 Stat. 2419; Sec. 
870.302(a)(3) also issued under section 145 of Pub. L. 106-522, 114 
Stat. 2472; Secs. 870.302(b)(8), 870.601(a), and 870.602(b) also 
issued under Pub. L. 110-279, 122 Stat. 2604; Subpart E also issued 
under 5 U.S.C. 8702(c); Sec. 870.601(d)(3) also issued under 5 
U.S.C. 8706(d); Sec. 870.703(e)(1) also issued under section 502 of 
Pub. L. 110-177, 121 Stat. 2542; Sec. 870.705 also issued under 5 
U.S.C. 8714b(c) and 8714c(c); Public Law 104-106, 110 Stat. 521.

0
2. In Sec.  870.701, add paragraph (f) to read as follows:


Sec.  870.701  Eligibility for life insurance.

* * * * *
    (f) An individual's period of coverage in a life insurance plan is 
credited to the 5 years of service under paragraph (a)(2) of this 
section if:
    (1) He/she participated in the Office of Thrift Supervision (OTS) 
life insurance plan and transferred to the Office of the Comptroller of 
the Currency or the Federal Deposit Insurance Corporation under the 
Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 
111-203; and
    (2) Elected FEGLI coverage during the special enrollment period 
between June 1, 2012 and July 29, 2012. Evidence of the non-FEGLI 
period of continuous coverage will be documented in a manner designated 
by OPM.
[FR Doc. 2016-21077 Filed 8-31-16; 8:45 am]
 BILLING CODE 6325-63-P

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