Pension Benefit Guaranty Corporation – Federal Register Recent Federal Regulation Documents

Results 301 - 350 of 578
Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected Retirement Age
Document Number: 2011-30849
Type: Rule
Date: 2011-12-01
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This rule amends Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2012. This table is needed in order to compute the value of early retirement benefits and, thus, the total value of benefits under a plan.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-29461
Type: Rule
Date: 2011-11-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single- Employer Plans to prescribe interest assumptions under the regulation for valuation dates in December 2011. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Cash Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans; Pension Protection Act of 2006
Document Number: 2011-28124
Type: Proposed Rule
Date: 2011-10-31
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This proposed rule would implement provisions of the Pension Protection Act of 2006 (PPA 2006) that change the rules for determining benefits upon the termination of a statutory hybrid plan, such as a cash balance plan. PPA 2006 provides that, when such a plan terminates, a variable rate used under the plan to determine accrued benefits will be equal to the average of the rates of interest used under the plan during the five-year period ending on the termination date. Further, the amount of the benefit payable in the form of an annuity payable at normal retirement age will be determined using the interest rate and mortality table specified under the plan for that purpose as of the termination date (or an average interest rate if the plan rate is a variable rate). For a plan terminated and trusteed by PBGC, the proposed rule would amend PBGC's regulations to conform the rules for determining the allocation of assets and the amount of benefits payable under Title IV of ERISA to the PPA 2006 changes in the benefit determination rules for statutory hybrid plans. The proposed rule would also implement a PPA 2006 change for determining the present value of the accrued benefit under a statutory hybrid plan. Finally, the proposed rule would provide guidance on benefits payable under a statutory hybrid plan that terminates in a standard termination.
Proposed Submission of Information Collection for OMB Review; Comment Request; Survey of Nonparticipating Single Premium Group Annuity Rates
Document Number: 2011-27411
Type: Notice
Date: 2011-10-24
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (``PBGC'') intends to request that the Office of Management and Budget (``OMB'') extend approval, under the Paperwork Reduction Act, of a collection of information that is not contained in a regulation (OMB control number 1212-0030; expires March 31, 2012). This voluntary collection of information is a quarterly survey of insurance company rates for pricing annuity contracts. The American Council of Life Insurers conducts this survey for PBGC. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-26657
Type: Rule
Date: 2011-10-14
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single- Employer Plans to prescribe interest assumptions under the regulation for valuation dates in November 2011. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Premium Penalty Relief; Alternative Premium Funding Target Election Relief
Document Number: 2011-23692
Type: Notice
Date: 2011-09-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Executive Order 13563 on Improving Regulation and Regulatory Review directs agencies to review and improve their regulatory processes. As a result of this regulatory review, and in response to comments by premium payers and pension professionals, PBGC is providing relief from certain premium penalties and in certain situations involving alternative premium funding target elections.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2011-23686
Type: Rule
Date: 2011-09-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single- Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in October 2011 and interest assumptions under the asset allocation regulation for valuation dates in the fourth quarter of 2011. The interest assumptions are used for valuing and paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-20649
Type: Rule
Date: 2011-08-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single- Employer Plans to prescribe interest assumptions under the regulation for valuation dates in September 2011. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Disclosure to Participants
Document Number: 2011-19182
Type: Rule
Date: 2011-07-29
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule removes PBGC's regulation on Disclosure to Participants. The regulation is obsolete as a result of the Pension Protection Act of 2006. Prior to the effective date of the statutory change, section 4011 of ERISA required certain underfunded plans to notify participants of plan funding status and the limits on the Pension Benefit Guaranty Corporation's guarantee. The Pension Protection Act of 2006 repealed section 4011 for plan years beginning after 2006 and replaced the disclosure requirement under that section with a disclosure requirement under Title I of ERISA. This rule is consistent with Executive Order 13563 on Improving Regulation and Regulatory Review.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-17931
Type: Rule
Date: 2011-07-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single- Employer Plans to prescribe interest assumptions under the regulation for valuation dates in August 2011. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Submission of Information Collection for OMB Review; Comment Request; Disclosure of Termination Information
Document Number: 2011-16157
Type: Notice
Date: 2011-06-28
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) approve, under the Paperwork Reduction Act, a collection of information on the disclosure of termination information under its regulations for distress terminations, 29 CFR part 4041, subpart C, and for PBGC-initiated terminations under 29 CFR part 4042 (OMB control number 1212-0065; expires October 31, 2011). This notice informs the public of PBGC's request and solicits public comment on the collection of information that must be provided by plan administrators and plan sponsors to affected parties upon request.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2011-14852
Type: Rule
Date: 2011-06-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single- Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in July 2011 and interest assumptions under the asset allocation regulation for valuation dates in the third quarter of 2011. The interest assumptions are used for valuing and paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Bankruptcy Filing Date Treated as Plan Termination Date for Certain Purposes; Guaranteed Benefits; Allocation of Plan Assets; Pension Protection Act of 2006
Document Number: 2011-14241
Type: Rule
Date: 2011-06-14
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule implements section 404 of the Pension Protection Act of 2006. Section 404 amended Title IV of ERISA to provide that when an underfunded, PBGC-covered, single-employer pension plan terminates while its contributing sponsor is in bankruptcy, sections 4022 and 4044(a)(3) of ERISA are applied by treating the date the sponsor's bankruptcy petition was filed as the termination date of the plan. Section 4022 determines which benefits are guaranteed by PBGC, and section 4044(a)(3) determines which benefits are entitled to priority in ``priority category 3'' in the statutory hierarchy for allocating the assets of a terminated plan. Thus, under the 2006 amendments, when a plan terminates while the sponsor is in bankruptcy, the amount of benefits guaranteed by PBGC and the amount of benefits in priority category 3 are fixed at the date of the bankruptcy filing rather than at the plan termination date. In most cases, this reduces the amount of guaranteed benefits and the amount of benefits in priority category 3.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-11846
Type: Rule
Date: 2011-05-13
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single- Employer Plans to prescribe interest assumptions under the regulation for valuation dates in June 2011. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-8926
Type: Rule
Date: 2011-04-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in May 2011. PBGC's regulation on Benefits Payable in Terminated Single-Employer Plans prescribes actuarial assumptionsincluding interest assumptionsfor paying plan benefits under terminating single-employer plans covered by title IV of the Employee Retirement Income Security Act of 1974.
Proposed Submission of Information Collection for OMB Review; Comment Request; Disclosure of Termination Information
Document Number: 2011-8355
Type: Notice
Date: 2011-04-07
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pension Benefit Guaranty Corporation (``PBGC'') intends to request that the Office of Management and Budget (``OMB'') extend approval, under the Paperwork Reduction Act of 1995, of a collection of information on the disclosure of termination information under its regulations for distress terminations, 29 CFR part 4041, Subpart C, and for PBGC-initiated terminations under 29 CFR part 4042 (OMB control number 1212-0065; expires October 31, 2011). This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Allocation of Assets in Single-Employer Plans
Document Number: 2011-8325
Type: Rule
Date: 2011-04-06
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Single-Employer Plan Termination Initiated by PBGC
Document Number: 2011-8007
Type: Rule
Date: 2011-04-04
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Reducing Regulatory Burden; Review Under E.O. 13563
Document Number: 2011-7805
Type: Proposed Rule
Date: 2011-04-01
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is reviewing its regulations in response to the President's Executive Order 13563 on Improving Regulation and Regulatory Review. The purpose of this review is to make PBGC's regulatory program both more effective and less burdensome. We are starting by identifying regulations for possible modification, streamlining, or repeal, which will be incorporated into a preliminary regulatory review plan. For now, we are asking the public for ideas and informationto suggest candidate regulations for review, alternative approaches, etc.to help prepare the preliminary plan. There will be additional opportunities for public comment after the preliminary plan is developed and approved.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2011-6054
Type: Rule
Date: 2011-03-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in April 2011 and interest assumptions under the asset allocation regulation for valuation dates in the second quarter of 2011. Interest assumptions are also published on PBGC's Web site (http:// www.pbgc.gov).
Approval of Exemption From the Bond/Escrow Requirement Relating to the Sale of Assets by an Employer Who Contributes to a Multiemployer Plan: Rangers Baseball Express, LLC, and Texas Rangers Baseball Partners
Document Number: 2011-5886
Type: Notice
Date: 2011-03-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation has granted a request from Rangers Baseball Express, LLC, for an exemption from the bond/ escrow requirement of section 4204(a)(1)(B) of the Employee Retirement Income Security Act of 1974, as amended, with respect to the Major League Baseball Players Pension Plan. A notice of the request for exemption from the requirement was published on December 28, 2010. The effect of this notice is to advise the public of the decision on the exemption request.
Benefits Payable in Terminated Single-Employer Plans; Limitations on Guaranteed Benefits
Document Number: 2011-5696
Type: Proposed Rule
Date: 2011-03-11
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This is a proposed rule to amend PBGC's regulation on Benefits Payable in Terminated Single-Employer Plans. That regulation sets forth rules on PBGC's guarantee of pension plan benefits, including rules on the phase-in of the guarantee. The amendments implement section 403 of the Pension Protection Act of 2006, which provides that the phase-in period for the guarantee of benefits that are contingent upon the occurrence of an ``unpredictable contingent event,'' such as a plant shutdown, starts no earlier than the date of the shutdown or other unpredictable contingent event.
Agency Information Collection Activities: Proposed Collection; Comment Request; Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery
Document Number: 2011-4851
Type: Notice
Date: 2011-03-04
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
As part of a Federal Government-wide effort to streamline the process to seek feedback from the public on service delivery, the Pension Benefit Guaranty Corporation (``PBGC'' or ``the Agency'') has submitted a Generic Information Collection Request (Generic ICR): ``Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery'' to OMB for approval under the Paperwork Reduction Act (PRA) (44 U.S.C. 3501 et seq.).
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-3403
Type: Rule
Date: 2011-02-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in March 2011. Interest assumptions are also published on PBGC's Web site (http://www.pbgc.gov).
Submission of Information Collection for OMB Review; Comment Request; Multiemployer Plan Regulations
Document Number: 2011-1822
Type: Notice
Date: 2011-01-28
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
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 under its regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC's request and solicits public comment on the collections of information.
Submission of Information Collection for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans
Document Number: 2011-1596
Type: Notice
Date: 2011-01-26
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (``PBGC'') is requesting that the Office of Management and Budget (``OMB'') extend approval, under the Paperwork Reduction Act, of a collection of information in its regulation on Liability for Termination of Single- Employer Plans, 29 CFR Part 4062 (OMB control number 1212-0017; expires March 31, 2011). This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2011-725
Type: Rule
Date: 2011-01-14
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in February 2011. Interest assumptions are also published on PBGC's Web site (http://www.pbgc.gov).
Purchase of Irrevocable Commitments Before Standard Termination
Document Number: 2010-32827
Type: Notice
Date: 2010-12-29
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
PBGC is not taking further regulatory action or providing specific guidance on purchase of irrevocable commitments before standard termination at this time.
Pendency of Request for Exemption From the Bond/Escrow Requirement Relating to the Sale of Assets by an Employer Who Contributes to a Multiemployer Plan: Rangers Baseball Express, LLC, and Texas Rangers Baseball Partners
Document Number: 2010-32532
Type: Notice
Date: 2010-12-28
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This notice advises interested persons that the Pension Benefit Guaranty Corporation (``PBGC'') has received a request from Rangers Baseball Express, LLC, for an exemption from the bond/escrow requirement of section 4204(a)(1)(B) of the Employee Retirement Income Security Act of 1974, as amended, with respect to the Major League Baseball Players Pension Plan. Section 4204(a)(1) provides that the sale of assets by an employer that contributes to a multiemployer pension plan will not constitute a complete or partial withdrawal from the plan if the transaction meets certain conditions. One of these conditions is that the purchaser post a bond or deposit money in escrow for the five-plan-year period beginning after the sale. PBGC is authorized to grant individual and class exemptions from this requirement. Before granting an exemption, the statute and PBGC regulations require PBGC to give interested persons an opportunity to comment on the exemption request. The purpose of this notice is to advise interested persons of the exemption request and solicit their views on it.
Approval of Exemption From the Bond/Escrow Requirement Relating to the Sale of Assets by an Employer Who Contributes to a Multiemployer Plan: Ricketts Acquisition LLC and the Chicago National League Ball Club, LLC
Document Number: 2010-32528
Type: Notice
Date: 2010-12-28
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation has granted a request from Ricketts Acquisition LLC for an exemption from the bond/escrow requirement of section 4204(a)(1)(B) of the Employee Retirement Income Security Act of 1974, as amended, with respect to the Major League Baseball Players Pension Plan. A notice of the request for exemption from the requirement was published on September 3, 2010. The effect of this notice is to advise the public of the decision on the exemption request.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2010-31616
Type: Rule
Date: 2010-12-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in January 2011 and interest assumptions under the asset allocation regulation for valuation dates in the first quarter of 2011. Interest assumptions are also published on PBGC's Web site (http:// www.pbgc.gov).
Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected Retirement Age
Document Number: 2010-30301
Type: Rule
Date: 2010-12-01
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This rule amends Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2011. This table is needed in order to compute the value of early retirement benefits and, thus, the total value of benefits under a plan.
Proposed Submission of Information Collection for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans
Document Number: 2010-29154
Type: Notice
Date: 2010-11-19
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Liability for Termination of Single- Employer Plans, 29 CFR Part 4062 (OMB control number 1212-0017; expires March 31, 2011). This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Proposed Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations
Document Number: 2010-28692
Type: Notice
Date: 2010-11-16
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of collections of information in PBGC's regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC's intent and solicits public comment on the collections of information.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2010-28570
Type: Rule
Date: 2010-11-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in December 2010. Interest assumptions are also published on PBGC's Web site (http://www.pbgc.gov).
Debt Collection
Document Number: 2010-28020
Type: Rule
Date: 2010-11-05
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's (PBGC) regulation on debt collection to conform to the Debt Collection Improvement Act of 1996, the Federal Claims Collection Standards and other legal requirements applicable to the collection of non-tax debts owed to PBGC. PBGC is adding salary offset and administrative wage garnishment to the collection methods allowed under the current regulation and making other changes to strengthen PBGC's debt collection program.
Liability for Termination of Single-Employer Plans; Treatment of Substantial Cessation of Operations
Document Number: 2010-26371
Type: Proposed Rule
Date: 2010-10-20
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
PBGC is extending to November 12, 2010, the comment period on its proposed rule to provide guidance on the applicability and enforcement of ERISA section 4062(e), which provides for reporting of and liability for certain substantial cessations of operations by employers that maintain single-employer plans.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2010-26081
Type: Rule
Date: 2010-10-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in November 2010. Interest assumptions are also published on PBGC's Web site (http://www.pbgc.gov).
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2010-22953
Type: Rule
Date: 2010-09-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
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 2010 and amends the benefit payments regulation to adopt interest assumptions for plans with valuation dates in October 2010. Interest assumptions are also published on PBGC's Web site (http:// www.pbgc.gov).
Submission of Information Collection for OMB Review; Comment Request; Annual Reporting and Disclosure
Document Number: 2010-22493
Type: Notice
Date: 2010-09-09
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of the collection of information for annual reporting and disclosure under 29 CFR part 2520 (OMB control number 1212-0057, expires September 30, 2010), without change. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium
Document Number: 2010-22222
Type: Notice
Date: 2010-09-07
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of the collection of information for the termination premium under its regulation on Payment of Premiums (29 CFR Part 4007) (OMB control number 1212-0064; expires October 31, 2010), without change. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Pendency of Request for Exemption From the Bond/Escrow Requirement Relating to the Sale of Assets by an Employer Who Contributes to a Multiemployer Plan: Ricketts Acquisition LLC and the Chicago National League Ball Club, LLC
Document Number: 2010-22012
Type: Notice
Date: 2010-09-03
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This notice advises interested persons that the Pension Benefit Guaranty Corporation (``PBGC'') has received a request from Ricketts Acquisition LLC for an exemption from the bond/escrow requirement of section 4204(a)(1)(B) of the Employee Retirement Income Security Act of 1974, as amended, with respect to the Major League Baseball Players Benefit Plan. Section 4204(a)(1) provides that the sale of assets by an employer that contributes to a multiemployer pension plan will not constitute a complete or partial withdrawal from the plan if the transaction meets certain conditions. One of these conditions is that the purchaser post a bond or deposit money in escrow for the five-plan-year period beginning after the sale. PBGC is authorized to grant individual and class exemptions from this requirement. Before granting an exemption, the statute and PBGC regulations require PBGC to give interested persons an opportunity to comment on the exemption request. The purpose of this notice is to advise interested persons of the exemption request and solicit their views on it.
Submission of Information Collection for OMB Review; Comment Request; Termination of Single-Employer Plans, Missing Participants
Document Number: 2010-21463
Type: Notice
Date: 2010-08-30
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (``PBGC'') is requesting that the Office of Management and Budget (``OMB''), under the Paperwork Reduction Act, extend approval, with modifications, of a collection of information in its regulations on Termination of Single Employer Plans and Missing Participants, and implementing forms and instructions (OMB control number 1212-0036, expires September 30, 2010). This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2010-20000
Type: Rule
Date: 2010-08-13
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans prescribes interest assumptions for valuing and paying certain benefits under terminating single-employer plans. This final rule amends the benefit payments regulation to adopt interest assumptions for plans with valuation dates in September 2010. Interest assumptions are also published on PBGC's Web site (http://www.pbgc.gov).
Liability for Termination of Single-Employer Plans; Treatment of Substantial Cessation of Operations
Document Number: 2010-19627
Type: Proposed Rule
Date: 2010-08-10
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
ERISA section 4062(e) provides for reporting of and liability for certain substantial cessations of operations by employers that maintain single-employer plans. PBGC proposes to amend its current regulation on Liability for Termination of Single-Employer Plans to provide guidance on the applicability and enforcement of ERISA section 4062(e).
Submission of Information Collection for OMB Review; Comment Request; Locating and Paying Participants
Document Number: 2010-19515
Type: Notice
Date: 2010-08-09
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pension Benefit Guaranty Corporation is requesting that the Office of Management and Budget (``OMB'') approve modifications to a collection of information under the Paperwork Reduction Act (OMB control number 1212-0055; expires September 30, 2011). The purpose of the information collection is to enable PBGC to locate and pay benefits to participants and beneficiaries in plans covered by the PBGC insurance program. PBGC intends to add three new forms to the information collection and to modify an approved form. This notice informs the public of the PBGC's request and solicits public comment on the collection of information.
Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums
Document Number: 2010-18302
Type: Notice
Date: 2010-07-27
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is modifying the collection of information under Part 4007 of its regulation on Payment of Premiums (OMB control number 1212-0007; expires February 28, 2011) and is requesting that the Office of Management and Budget (OMB) extend approval of the collection of information under the Paperwork Reduction Act for three years. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Debt Collection
Document Number: 2010-18008
Type: Proposed Rule
Date: 2010-07-22
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This proposed rule would revise the Pension Benefit Guaranty Corporation's regulation on debt collection to conform to the Debt Collection Improvement Act of 1996, the Federal Claims Collection Standards and other legal requirements applicable to the collection of non-tax debts owed to PBGC. This proposed rule would add salary offset and administrative wage garnishment to the collection methods allowed under the current regulation and make other changes to strengthen PBGC's debt collection program.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2010-17200
Type: Rule
Date: 2010-07-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans prescribes interest assumptions for valuing and paying certain benefits under terminating single-employer plans. This final rule amends the benefit payments regulation to adopt interest assumptions for plans with valuation dates in August 2010. Interest assumptions are also published on PBGC's Web site (http://www.pbgc.gov).
Submission of Information Collection for OMB Review; Comment Request; Reconsideration of Initial Determinations
Document Number: 2010-16430
Type: Notice
Date: 2010-07-07
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information under its regulation on Rules for Administrative Review of Agency Decisions (OMB control number 1212-0063, expires September 30, 2010). This notice informs the public of PBGC's request and solicits public comment on the collection of information.