Pension Benefit Guaranty Corporation December 14, 2006 – Federal Register Recent Federal Regulation Documents
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Mortality Assumptions
This document makes changes to the mortality assumptions under parts 4050 (Missing Participants) and 4281 (Duties of Plan Sponsor Following Mass Withdrawal) of PBGC's regulations. In a final rule published in the Federal Register on December 2, 2005, PBGC amended part 4044 (Allocation of Assets in Single-employer Plans) of its regulations to update mortality tables used for certain valuations for single-employer plans. Because of the dependence of certain valuations under part 4050 on part 4044, amendments updating the mortality assumptions under part 4050 are needed. This rule also makes a minor conforming amendment to the mortality assumptions in part 4281.
Mortality Assumptions
This proposed rule is a companion to PBGC's direct final rule (published today in the ``Rules and Regulations'' section of the Federal Register) making changes to the mortality assumptions under parts 4050 (Missing Participants) and 4281 (Duties of Plan Sponsor Following Mass Withdrawal) of its regulations. PBGC is making these changes as a direct final rule without prior proposal because we view them as non-controversial revisions and anticipate no significant adverse comment. We have explained our reasons in the preamble to the direct final rule. If we receive no significant adverse comment, no further action on this proposed rule will be taken. However, if we receive significant adverse comment, we will withdraw the direct final rule and it will not take effect. In that case, we will address all public comments in a subsequent final rule based on this proposed rule. We will not institute a second comment period on this rule. Any parties interested in commenting must do so at this time.
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