Single-employer plans: Allocation of assets— Interest assumptions for valuing and paying benefits; correction,

[Federal Register: January 13, 2006 (Volume 71, Number 9)]

[Rules and Regulations]

[Page 2148-2149]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr13ja06-9]

PENSION BENEFIT GUARANTY CORPORATION

29 CFR Part 4044

Benefits Payable in Terminated Single-Employer Plans; Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits; Correction

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Final rule; correction.

SUMMARY: The Pension Benefit Guaranty Corporation published in the Federal Register of December 15, 2005, a final rule amending its regulation on Allocation of Assets in Single-Employer Plans to adopt interest assumptions for plans with valuation dates in January 2006. This document corrects an inadvertent error in that final rule.

DATES: Effective January 1, 2006.

FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Attorney, Legislative and Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005, 202-326-4024. (TYY/TDD users may call the Federal relay service toll-free at 1-800- 877-8339 and ask to be connected to 202-326-4024.)

SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation published a document in the December 15, 2005, Federal Register (70 FR 74200), amending its regulation on Allocation of Assets in Single- Employer Plans (29 CFR part 4044) to adopt

[[Page 2149]]

interest assumptions for plans with valuation dates in January 2006. This documents corrects an inadvertent error in the January 2006 entry to Appendix B to part 4044. (There was no corresponding error in the preamble to the document.)

List of Subjects in 29 CFR Part 4044

Employee benefit plans, Pension insurance, Pensions.

0 Accordingly 29 CFR part 4044 is corrected by making the following correcting amendments:

PART 4044--ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS

0 1. The authority citation for part 4044 continues to read as follows:

Authority: 29 U.S.C. 1301(a), 1302(b)(3), 1341, 1344, 1362.

0 2. In appendix B to part 4044, correct the entry for January 2006, as set forth below, To read as follows:

Appendix B to Part 4044--Interest Rates Used To Value Benefits

* * * * *

The values of ic are: For valuation dates ----------------------------------------------------------------------------------- occurring in the month--

it

for t =

it

for t =

it

for t =

* * * * * * * January 2006................

.0570

1-20

.0475

>20

N/A

N/A

Issued in Washington, DC, on this 10th day of January 2006. Vincent K. Snowbarger, Deputy Executive Director, Pension Benefit Guaranty Corporation.

[FR Doc. 06-330 Filed 1-12-06; 8:45 am]

BILLING CODE 7708-01-M