Board of Governors; Sunshine Act Meeting, 58182-58183 [2019-23794]

Download as PDF 58182 Federal Register / Vol. 84, No. 210 / Wednesday, October 30, 2019 / Notices information under its regulation on Payment of Premiums (OMB control number 1212–0009; expiring June 30, 2021). This notice informs the public of PBGC’s request and solicits public comment on the collection. DATES: Comments must be submitted by November 29, 2019. ADDRESSES: Comments should be sent to the Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Pension Benefit Guaranty Corporation, via electronic mail at OIRA_ submission@omb.eop.gov or by fax to 202–395–6974. A copy of the request will be posted on PBGC’s website at: https:// www.pbgc.gov/prac/laws-andregulation/federal-register-notices-openfor-comment. It may also be obtained without charge by writing to the Disclosure Division of the Office of the General Counsel, 1200 K Street NW, Washington, DC 20005–4026; faxing a request to 202–326–4042; or, calling 202–326–4040 during normal business hours (TTY users may call the Federal Relay Service toll-free at 1–800–877– 8339 and ask to be connected to 202– 326–4040). The Disclosure Division will email, fax, or mail the information to you, as you request. FOR FURTHER INFORMATION CONTACT: Melissa Rifkin (rifkin.melissa@ pbgc.gov), Attorney, Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026; 202–229–6563. (TTY users may call the Federal relay service tollfree at 800–877–8339 and ask to be connected to 202–326–4400, extension 6563.) SUPPLEMENTARY INFORMATION: Section 4007 of title IV of the Employee Retirement Income Security Act of 1974 (ERISA) requires pension plans covered under title IV pension insurance programs to pay premiums to PBGC. All plans covered by title IV pay a flat-rate per-participant premium. An underfunded single-employer plan also pays a variable-rate premium based on the value of the plan’s unfunded vested benefits. Pursuant to section 4007, PBGC has issued its regulation on Payment of Premiums (29 CFR part 4007). Under § 4007.3 of the premium payment regulation, the plan administrator of each pension plan covered by title IV of ERISA is required to file a premium payment and information prescribed by PBGC for each premium payment year. Premium information is filed electronically using ‘‘My Plan Administration Account’’ (‘‘My PAA’’) VerDate Sep<11>2014 17:18 Oct 29, 2019 Jkt 250001 through PBGC’s website. Under § 4007.10 of the premium payment regulation, plan administrators are required to retain records about premiums and information submitted in premium filings. Premium filings report (i) the flat-rate premium and related data (all plans), (ii) the variable-rate premium and related data (single-employer plans), and (iii) additional data such as identifying information and miscellaneous planrelated or filing-related data (all plans). PBGC needs this information to identify the plans for which premiums are paid, to verify whether the amounts paid are correct, to help PBGC determine the magnitude of its exposure in the event of plan termination, to help track the creation of new plans and transfer of participants and assets and liabilities among plans, and to keep PBGC’s insured-plan inventory up to date. That information and the retained records are also needed for audit purposes. PBGC is modifying the 2020 filing and instructions to require that plans offering a lump sum window 1 separately report the number of participants in pay status who were offered and elected a lump sum in addition to the related current requirement with respect to participants not in pay status. This change reflects recent guidance issued by the Internal Revenue Service.2 In addition, PBGC is changing the reporting period for risk transfer activity (lump sum windows and annuity purchases). Rather than the period falling between 60 days before the prior filing and 60 days before the current filing, the reporting period will be the prior premium payment year. PBGC also is modifying the filing instructions for a plan that reports that a premium filing will be the last for the plan and checks the ‘‘cessation of covered status’’ box as the reason. Currently, such a plan must provide an explanation as to why they believe coverage has ceased and then PBGC typically contacts the plan to verify that coverage has ceased. PBGC is adding to the instructions that a plan that claims cessation of coverage status should complete a coverage determination request. PBGC also is updating the premium rates and making conforming, clarifying, and editorial changes to the premium filing instructions. 1 PBGC’s premium filing instructions define a lump sum window as a temporary opportunity to elect a lump sum in lieu of future annuity payments that is offered to individuals meeting specified criteria who would not otherwise be eligible to elect a lump sum. 2 See Notice 2019–18, 2019–13 I.R.B. 915. PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 On August 1, 2019, PBGC published in the Federal Register (at 84 FR 37694) a notice informing the public of its intent to request OMB approval for the revised information collection. PBGC did not receive any comments. The collection of information has been approved through June 30, 2021, by OMB under control number 1212– 0009. PBGC is requesting that OMB approve the revised collection of information for three years. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. PBGC estimates that it will receive 31,245 premium filings per year from 31,245 plan administrators under this collection of information. PBGC further estimates that the annual burden of this collection of information is 13,540 hours and $21,621,540. Issued in Washington, DC. Hilary Duke, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2019–23690 Filed 10–29–19; 8:45 am] BILLING CODE 7709–02–P POSTAL SERVICE Board of Governors; Sunshine Act Meeting Wednesday, November 13, 2019, at 10:30 a.m.; and Thursday, November 14, 2019, at 9:00 a.m. PLACE: Washington, DC, at U.S. Postal Service Headquarters, 475 L’Enfant Plaza SW, in the Benjamin Franklin Room. STATUS: Wednesday, November 13, 2019, at 10:30 a.m.—Closed. Thursday, November 14, 2019, at 9:00 a.m.—Open. MATTERS TO BE CONSIDERED: DATES AND TIMES: Wednesday, November 13, 2019, at 10:30 a.m. (Closed) 1. Strategic Issues. 2. Financial Matters. 3. Compensation and Personnel Matters. 4. Executive Session—Discussion of prior agenda items and Board governance. Thursday, November 14, 2019, at 9:00 a.m. (Open) 1. Remarks of the Chairman of the Board of Governors. 2. Remarks of the Postmaster General and CEO. 3. Approval of Minutes of Previous Meetings. E:\FR\FM\30OCN1.SGM 30OCN1 Federal Register / Vol. 84, No. 210 / Wednesday, October 30, 2019 / Notices 4. Committee Reports. 5. Five-Year Strategic Plan. 6. FY2019 10K and Financial Statements, Annual Report and Comprehensive Statement. 7. FY2020 IFP and Financing Resolution. 8. FY2021 Appropriations Request. 9. Quarterly Service Performance Request. 10. Approval of Tentative Agenda for February Meetings. 11. Board Leadership. A public comment period will begin immediately following the adjournment of the open session on November 14, 2019. During the public comment period, which shall not exceed 30 minutes, members of the public may comment on any item or subject listed on the agenda for the open session above. Registration of speakers at the public comment period is required. Speakers may register online at https:// www.surveymonkey.com/r/BOG-11-1419. Onsite registration will be available until thirty minutes before the meeting starts. No more than three minutes shall be allotted to each speaker. The time allotted to each speaker will be determined after registration closes. Participation in the public comment period is governed by 39 CFR 232.1(n). CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Acting Secretary of the Board, U.S. Postal Service, 475 L’Enfant Plaza SW, Washington, DC 20260–1000. Telephone: (202) 268– 4800. Michael J. Elston, Acting Secretary. [FR Doc. 2019–23794 Filed 10–28–19; 4:15 pm] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–87392; File No. SR–NSCC– 2019–003] Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing of Proposed Rule Change To Require Confirmation of Cybersecurity Program 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 October 15, 2019, National Securities Clearing Corporation (‘‘NSCC’’) filed with the Securities and Exchange Commission 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 17:18 Oct 29, 2019 Jkt 250001 I. Clearing Agency’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change consists of modifications to NSCC’s Rules and Procedures (‘‘Rules’’) 3 in order to (1) define ‘‘Cybersecurity Confirmation’’ as a signed, written representation that addresses the submitting firm’s cybersecurity program; (2) enhance the NSCC application requirements and ongoing requirements for Members to (a) require that a Cybersecurity Confirmation be provided as part of the application materials for all Members, and (b) require that all Members deliver to NSCC a complete, updated Cybersecurity Confirmation at least every two years; and (3) provide that NSCC may require a Cybersecurity Confirmation from organizations that report trade data to NSCC for comparison and trade recording, as described in greater detail below. II. Clearing Agency’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the clearing agency included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The clearing agency has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. (A) Clearing Agency’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose October 24, 2019. 1 15 (‘‘Commission’’) the proposed rule change as described in Items I, II and III below, which Items have been prepared by the clearing agency. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. (i) Overview NSCC is proposing to modify the Rules in order to (1) define ‘‘Cybersecurity Confirmation’’ as a signed, written representation that addresses the submitting firm’s cybersecurity program; (2) enhance the NSCC application requirements and ongoing requirements for Members to (a) 3 Capitalized terms not defined herein are defined in the Rules, available at https://www.dtcc.com/ legal/rules-and-procedures. References to ‘‘Members’’ in this filing include both Members and Limited Members, as such terms are defined in the Rules. PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 58183 require that a Cybersecurity Confirmation be provided as part of the application materials for all Members, and (b) require that all Members deliver to NSCC a complete, updated Cybersecurity Confirmation at least every two years; and (3) provide that NSCC may require a Cybersecurity Confirmation from organizations that report trade data to NSCC for comparison and trade recording. The proposed change would require all Members and applicants to deliver to NSCC a signed, written Cybersecurity Confirmation, which includes representations regarding the submitting firm’s cybersecurity program and framework. The Cybersecurity Confirmation would be required to be (1) delivered with the application materials for every applicant for membership, and (2) updated and redelivered at least every two years by all Members. NSCC is also proposing to modify the Rules to provide that it may require any organization from which it may accept trade data for comparison and trade recording to deliver a Cybersecurity Confirmation. As described in more detail below, the Cybersecurity Confirmation would help NSCC to assess the cybersecurity risks that may be introduced to it by Members and other entities that connect to NSCC either through the Securely Managed and Reliable Technology (‘‘SMART’’) network 4 or through other connections. The proposed Cybersecurity Confirmation would allow NSCC to better understand its Members’ cybersecurity programs and frameworks and identify possible cybersecurity risk exposures. Based on this information, NSCC would be able to establish appropriate controls to mitigate these risks and their possible impacts to NSCC’s operations. (ii) Background of Proposal NSCC believes it is prudent to better understand the cybersecurity risks that it may face through its interconnections to Members. As a designated systemically important financial market utility, or ‘‘SIFMU,’’ NSCC occupies a unique position in the marketplace such that a failure or a disruption to NSCC could increase the risk of significant liquidity problems spreading among 4 The SMART network is a technology managed by NSCC’s parent company, The Depository Trust & Clearing Corporation (‘‘DTCC’’), that connects a nationwide complex of networks, processing centers and control facilities. This network extends between NSCC’s and its Members’ operating premises. DTCC operates on a shared services model with respect to NSCC and DTCC’s other subsidiaries pursuant to intercompany agreements under which it is generally DTCC that provides a relevant service to its subsidiaries, including NSCC. E:\FR\FM\30OCN1.SGM 30OCN1

Agencies

Postal Service

[Federal Register Volume 84, Number 210 (Wednesday, October 30, 2019)]
[Notices]
[Pages 58182-58183]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-23794]


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POSTAL SERVICE


Board of Governors; Sunshine Act Meeting

DATES AND TIMES:  Wednesday, November 13, 2019, at 10:30 a.m.; and 
Thursday, November 14, 2019, at 9:00 a.m.

PLACE:  Washington, DC, at U.S. Postal Service Headquarters, 475 
L'Enfant Plaza SW, in the Benjamin Franklin Room.

STATUS:  Wednesday, November 13, 2019, at 10:30 a.m.--Closed. Thursday, 
November 14, 2019, at 9:00 a.m.--Open.

MATTERS TO BE CONSIDERED: 

Wednesday, November 13, 2019, at 10:30 a.m. (Closed)

    1. Strategic Issues.
    2. Financial Matters.
    3. Compensation and Personnel Matters.
    4. Executive Session--Discussion of prior agenda items and Board 
governance.

Thursday, November 14, 2019, at 9:00 a.m. (Open)

    1. Remarks of the Chairman of the Board of Governors.
    2. Remarks of the Postmaster General and CEO.
    3. Approval of Minutes of Previous Meetings.

[[Page 58183]]

    4. Committee Reports.
    5. Five-Year Strategic Plan.
    6. FY2019 10K and Financial Statements, Annual Report and 
Comprehensive Statement.
    7. FY2020 IFP and Financing Resolution.
    8. FY2021 Appropriations Request.
    9. Quarterly Service Performance Request.
    10. Approval of Tentative Agenda for February Meetings.
    11. Board Leadership.
    A public comment period will begin immediately following the 
adjournment of the open session on November 14, 2019. During the public 
comment period, which shall not exceed 30 minutes, members of the 
public may comment on any item or subject listed on the agenda for the 
open session above. Registration of speakers at the public comment 
period is required. Speakers may register online at https://www.surveymonkey.com/r/BOG-11-14-19. Onsite registration will be 
available until thirty minutes before the meeting starts. No more than 
three minutes shall be allotted to each speaker. The time allotted to 
each speaker will be determined after registration closes. 
Participation in the public comment period is governed by 39 CFR 
232.1(n).

CONTACT PERSON FOR MORE INFORMATION:  Michael J. Elston, Acting 
Secretary of the Board, U.S. Postal Service, 475 L'Enfant Plaza SW, 
Washington, DC 20260-1000. Telephone: (202) 268-4800.

Michael J. Elston,
Acting Secretary.
[FR Doc. 2019-23794 Filed 10-28-19; 4:15 pm]
 BILLING CODE 7710-12-P

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