Pension Benefit Guaranty Corporation – Federal Register Recent Federal Regulation Documents

The Pension Benefit Guaranty Corporation (``PBGC'') is requesting Office of Management and Budget (``OMB'') approval, under the Paperwork Reduction Act, of a revision of the collection of information under its regulation on Payment of Premiums (29 CFR part 4007) (OMB control number 1212-0009; expires November 30, 2006). This collection of information also includes a certification of compliance with requirements to provide certain notices to participants under the PBGC's regulation on Disclosure to Participants (29 CFR part 4011). The PBGC is revising the collection of information to provide for an alternative means of electronic filing of premium information, in addition to the PBGC's existing e-filing method using ``My Plan Administration Account'' (``My PAA'') through the PBGC's Web site. The alternative e-filing method is being developed in connection with a PBGC proposal to require electronic premium filing in the near future. This notice informs the public of the PBGC's request to OMB and solicits public comment on the collection of information.

The Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans prescribe interest assumptions for valuing and paying benefits under terminating single-employer plans. This final rule amends the regulations to adopt interest assumptions for plans with valuation dates in April 2005. Interest assumptions are also published on the PBGC's Web site (https://www.pbgc.gov).

The Pension Benefit Guaranty Corporation proposes to amend its benefit valuation regulation by adopting more current mortality assumptions (moving from a version of GAM-83 to a version of GAM-94). The updated mortality assumptions will better conform to those used by private- sector insurers in pricing group annuities.

The PBGC proposes to require electronic filing of premium declarations. The requirement would become effective for plans with 500 or more participants starting with the 2006 plan year and for smaller plans starting with the 2007 plan year. Plans could apply to the PBGC for exemptions on a case-by-case basis. The PBGC has instituted an on- line e-filing facility (``My Plan Administration Account,'' or ``My PAA''), and during 2005 will upgrade My PAA to accept electronic filings made with the use of vendor or proprietary software.

The Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans prescribe interest assumptions for valuing and paying benefits under terminating single-employer plans. This final rule amends the regulations to adopt interest assumptions for plans with valuation dates in March 2005. Interest assumptions are also published on the PBGC's Web site (https://www.pbgc.gov).

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of collections of information in the PBGC's regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of the PBGC's request and solicits public comment on the collections of information.

The Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans prescribe interest assumptions for valuing and paying benefits under terminating single-employer plans. This final rule amends the regulations to adopt interest assumptions for plans with valuation dates in February 2005. Interest assumptions are also published on the PBGC's Web site https://www.pbgc.gov.