Department of the Treasury September 19, 2014 – Federal Register Recent Federal Regulation Documents

In accordance with the Privacy Act of 1974, as amended, 5 U.S.C. 552a, the Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) proposes to establish a new Privacy Act system of records entitled, ``Department of the Treasury/Bureau of the Fiscal Service .024OneVoice Customer Relationship Management.'' This system of records allows the Fiscal Service to collect and maintain records that will allow the bureau to manage its customer interactions with its external ``business'' customers and vendors.

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

This document contains proposed regulations that would provide guidance regarding certain amendments to applicable defined benefit plans. Applicable defined benefit plans are defined benefit plans that use a lump sum-based benefit formula, including cash balance plans and pension equity plans, as well as other hybrid retirement plans that have a similar effect. These proposed regulations would permit an applicable defined benefit plan that does not comply with the requirement that the plan not provide for interest credits (or equivalent amounts) at an effective rate that is greater than a market rate of return to comply with that requirement by changing to an interest crediting rate that is permitted under the final hybrid plan regulations, without violating the anti-cutback rules of section 411(d)(6). These regulations would affect sponsors, administrators, participants, and beneficiaries of these plans. This document also provides a notice of a public hearing on these proposed regulations.