Pension Benefit Guaranty Corporation September 2009 – Federal Register Recent Federal Regulation Documents
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Approval of Amendment to Special Withdrawal Liability Rules for Service Employees International Union Local 1 Pension Trust Fund
The Service Employees International Union Local 1 Pension Trust Fund requested the Pension Benefit Guaranty Corporation (``PBGC'') to approve a plan amendment providing for special withdrawal liability rules for employers that maintain the Plan. PBGC published a Notice of Pendency of the Request for Approval of the amendment on March 2, 2009 (74 FR 9114) (``Notice of Pendency''). In accordance with the provisions of the Employee Retirement Income Security Act of 1974, as amended (``ERISA''), PBGC is now advising the public that the agency has approved the requested amendment.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Pension Benefit Guaranty Corporation's regulations on Allocation of Assets in Single-Employer Plans and Benefits Payable in Terminated Single-Employer Plans prescribe interest assumptions for valuing and paying certain benefits under terminating single-employer plans. This final rule amends the asset allocation regulation to adopt interest assumptions for plans with valuation dates in the fourth quarter of 2009 and amends the benefit payments regulation to adopt interest assumptions for plans with valuation dates in October 2009. Interest assumptions are also published on PBGC's Web site (https:// www.pbgc.gov).
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