Product Change-Priority Mail Express and Priority Mail Negotiated Service Agreement, 65371 [2018-27495]

Download as PDF Federal Register / Vol. 83, No. 244 / Thursday, December 20, 2018 / Notices Successor Employer will not experience a complete or partial withdrawal if the Successor Employer assumes the Employer’s contribution history under the affected contract(s) for the plan year in which the contract is lost and the 5 immediately preceding plan years. Lastly, the Plan’s trustees may waive or reduce the bond or escrow requirement if the Employer demonstrates that doing so would not significantly increase the risk of financial loss to the Plan. The Plan’s request includes the actuarial data on which the Plan relies to support its contention that the amendment will not pose a significant risk to the insurance system under Title IV of ERISA. Decision on the Proposed Amendment The statute and the implementing regulation state that PBGC must make two factual determinations before it approves a request for an amendment that adopts a special withdrawal liability rule. ERISA section 4203(f); 29 CFR 4203.5(a). First, based on a showing by the plan, PBGC must determine that the amendment will apply to an industry that has characteristics that would make use of the special rules appropriate. Second, PBGC must determine that the plan amendment will not pose a significant risk to the insurance system. PBGC’s discussions on each of those issues follows. After review of the record submitted by the Plan, and having received no public comments, PBGC has made the following determinations. khammond on DSK30JT082PROD with NOTICES 1. What is the nature of the industry? In determining whether an industry has the characteristics that would make adoption of special withdrawal liability rules appropriate, an important consideration is the extent to which the Plan’s contribution base resembles that found in the construction industry. This threshold question requires consideration of the effect of Employer withdrawals on the Plan’s contribution base. The Plan asserts that historically when governmental contracts have changed hands, the Plan has not experienced reduced contributions. Similar to construction industry employers, most Employers that have ceased to contribute have been replaced by a Successor Employer that begins contributing for the same work. Therefore, we conclude the proposed amendment will apply only to an industry that has characteristics that would make use of the special withdrawal rules appropriate. VerDate Sep<11>2014 17:21 Dec 19, 2018 Jkt 247001 2. What is the exposure and risk of loss to PBGC? Exposure. The Plan is in a strong funded position. The Plan is a Green zone plan with steady contributions and a solid base of active participants and as of July 1, 2016, was 104.5% funded. Risk of loss. The record shows that the proposed amendment presents a low risk of loss to PBGC’s multiemployer insurance program. The industry covered by the amendment has unique characteristics that indicate the contribution base is likely to remain stable because the withdrawal of an Employer typically does not have an adverse effect on the plan’s contribution base. In addition, the Employers constitute a very small part of the total number of employers obligated to contribute to the Plan, accounting for only 640 of the Plan’s over 87,593 active participants (0.73% of the Plan’s total active participants). Accordingly, the data substantiates the Plan’s assertion that the Employers’ contribution base is secure and the amendment will not pose a significant risk to the insurance system. Conclusion Based on the Plan’s submissions and the representations and statements made in connection with the request for approval, PBGC has determined that the plan amendment adopting the special withdrawal liability rules: (1) Will apply only to an industry that has characteristics that would make the use of the special rule appropriate; and (2) will not pose a significant risk to the insurance system. Therefore, PBGC hereby grants the Plan’s request for approval of a plan amendment providing special withdrawal liability rules, as set forth herein. Should the Plan wish the amend these rules at any time, PBGC’s approval of the amendment will be required. Issued in Washington, DC by, William Reeder, Director, Pension Benefit Guaranty Corporation. [FR Doc. 2018–27502 Filed 12–19–18; 8:45 am] BILLING CODE 7709–02–P 65371 Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Date of required notice: December 20, 2018. FOR FURTHER INFORMATION CONTACT: Elizabeth Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on December 14, 2018, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Express & Priority Mail Contract 79 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2019–49, CP2019–53. Elizabeth Reed, Attorney, Corporate and Postal Business Law. [FR Doc. 2018–27495 Filed 12–19–18; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail Negotiated Service Agreement Postal ServiceTM. Notice. AGENCY: ACTION: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Date of required notice: December 20, 2018. FOR FURTHER INFORMATION CONTACT: Elizabeth Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on December 14, 2018, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 495 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2019–47, CP2019–51. SUMMARY: Elizabeth Reed, Attorney, Corporate and Postal Business Law. POSTAL SERVICE [FR Doc. 2018–27496 Filed 12–19–18; 8:45 am] Product Change—Priority Mail Express and Priority Mail Negotiated Service Agreement Postal Notice. AGENCY: ACTION: ServiceTM. The Postal Service gives notice of filing a request with the Postal SUMMARY: PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail Express and Priority Mail Negotiated Service Agreement AGENCY: E:\FR\FM\20DEN1.SGM Postal ServiceTM. 20DEN1

Agencies

[Federal Register Volume 83, Number 244 (Thursday, December 20, 2018)]
[Notices]
[Page 65371]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27495]


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POSTAL SERVICE


Product Change--Priority Mail Express and Priority Mail 
Negotiated Service Agreement

AGENCY: Postal ServiceTM.

ACTION: Notice.

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SUMMARY: The Postal Service gives notice of filing a request with the 
Postal Regulatory Commission to add a domestic shipping services 
contract to the list of Negotiated Service Agreements in the Mail 
Classification Schedule's Competitive Products List.

DATES: Date of required notice: December 20, 2018.

FOR FURTHER INFORMATION CONTACT: Elizabeth Reed, 202-268-3179.

SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg] 
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on 
December 14, 2018, it filed with the Postal Regulatory Commission a 
USPS Request to Add Priority Mail Express & Priority Mail Contract 79 
to Competitive Product List. Documents are available at www.prc.gov, 
Docket Nos. MC2019-49, CP2019-53.

Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2018-27495 Filed 12-19-18; 8:45 am]
 BILLING CODE 7710-12-P
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