Department of Treasury November 22, 2010 – Federal Register Recent Federal Regulation Documents

The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the renewal of an information collection, as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning an information collection titled, ``Examination Questionnaire.'' The OCC is also giving notice that it is sending the information collection to OMB for review.

The Department of the Treasury proposes to amend our regulations which were promulgated pursuant to the Balanced Budget Act of 1997, as amended (the Act). Pursuant to the Act, with certain exceptions, Treasury has responsibility for payment of benefits based on service accrued as of June 30, 1997, under the retirement plans for District of Columbia teachers, police officers, and firefighters. Benefits for service after that date, and certain other benefits, are funded by the District of Columbia. The rule that we published in 2000 as part of the final regulations to implement the provisions of the Act, establishes the methodology for determining the split between the Federal and District obligations. The effective date of the regulation was delayed pending completion of Treasury's new automated retirement system, ``System to Administer Retirement'' (STAR), which replaced the District's legacy automated retirement system. While the new system has been completed, the proposed amended regulation will establish additional rules and provide additional examples of benefit calculation scenarios, the need for which was identified during systems development. The amendments to the regulation will have minimal financial impact and are introduced to simplify calculations and maintain consistency with the general principles established in the original regulations.