Federal Register / Vol. 83, No. 244 / Thursday, December 20, 2018 / Notices 65371 

Successor Employer will not experience 

a complete or partial withdrawal if the 

Successor Employer assumes the 

Employer’s contribution history under 

the affected contract(s) for the plan year 

in which the contract is lost and the 5 

immediately preceding plan years. 

Lastly, the Plan’s trustees may waive or 

reduce the bond or escrow requirement 

if the Employer demonstrates that doing 

so would not significantly increase the 

risk of financial loss to the Plan. The 

Plan’s request includes the actuarial 

data on which the Plan relies to support 

its contention that the amendment will 

not pose a significant risk to the 

insurance system under Title IV of 

ERISA. 

Decision on the Proposed Amendment 

The statute and the implementing 

regulation state that PBGC must make 

two factual determinations before it 

approves a request for an amendment 

that adopts a special withdrawal 

liability rule. ERISA section 4203(f); 29 

CFR 4203.5(a). First, based on a showing 

by the plan, PBGC must determine that 

the amendment will apply to an 

industry that has characteristics that 

would make use of the special rules 

appropriate. Second, PBGC must 

determine that the plan amendment will 

not pose a significant risk to the 

insurance system. PBGC’s discussions 

on each of those issues follows. After 

review of the record submitted by the 

Plan, and having received no public 

comments, PBGC has made the 

following determinations. 

1. What is the nature of the industry? 

In determining whether an industry 

has the characteristics that would make 

adoption of special withdrawal liability 

rules appropriate, an important 

consideration is the extent to which the 

Plan’s contribution base resembles that 

found in the construction industry. This 

threshold question requires 

consideration of the effect of Employer 

withdrawals on the Plan’s contribution 

base. The Plan asserts that historically 

when governmental contracts have 

changed hands, the Plan has not 

experienced reduced contributions. 

Similar to construction industry 

employers, most Employers that have 

ceased to contribute have been replaced 

by a Successor Employer that begins 

contributing for the same work. 

Therefore, we conclude the proposed 

amendment will apply only to an 

industry that has characteristics that 

would make use of the special 

withdrawal rules appropriate. 

2. What is the exposure and risk of loss 

to PBGC? 

Exposure. The Plan is in a strong 

funded position. The Plan is a Green 

zone plan with steady contributions and 

a solid base of active participants and as 

of July 1, 2016, was 104.5% funded. 

Risk of loss. The record shows that the 

proposed amendment presents a low 

risk of loss to PBGC’s multiemployer 

insurance program. The industry 

covered by the amendment has unique 

characteristics that indicate the 

contribution base is likely to remain 

stable because the withdrawal of an 

Employer typically does not have an 

adverse effect on the plan’s contribution 

base. In addition, the Employers 

constitute a very small part of the total 

number of employers obligated to 

contribute to the Plan, accounting for 

only 640 of the Plan’s over 87,593 active 

participants (0.73% of the Plan’s total 

active participants). Accordingly, the 

data substantiates the Plan’s assertion 

that the Employers’ contribution base is 

secure and the amendment will not pose 

a significant risk to the insurance 

system. 

Conclusion 

Based on the Plan’s submissions and 

the representations and statements 

made in connection with the request for 

approval, PBGC has determined that the 

plan amendment adopting the special 

withdrawal liability rules: (1) Will apply 

only to an industry that has 

characteristics that would make the use 

of the special rule appropriate; and (2) 

will not pose a significant risk to the 

insurance system. Therefore, PBGC 

hereby grants the Plan’s request for 

approval of a plan amendment 

providing special withdrawal liability 

rules, as set forth herein. Should the 

Plan wish the amend these rules at any 

time, PBGC’s approval of the 

amendment will be required. 

Issued in Washington, DC by, 

William Reeder, 

Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2018–27502 Filed 12–19–18; 8:45 am] 

BILLING CODE 7709–02–P 

POSTAL SERVICE 

Product Change—Priority Mail Express 

and Priority Mail Negotiated Service 

Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: 

December 20, 2018. 

FOR FURTHER INFORMATION CONTACT: 

Elizabeth Reed, 202–268–3179. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on December 14, 

2018, it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Express & Priority Mail 

Contract 79 to Competitive Product List. 

Documents are available at 

www.prc.gov, Docket Nos. MC2019–49, 

CP2019–53. 

Elizabeth Reed, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2018–27495 Filed 12–19–18; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Negotiated Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: 

December 20, 2018. 

FOR FURTHER INFORMATION CONTACT: 

Elizabeth Reed, 202–268–3179. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on December 14, 

2018, it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Contract 495 to 

Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2019–47, CP2019–51. 

Elizabeth Reed, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2018–27496 Filed 12–19–18; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail Express 

and Priority Mail Negotiated Service 

Agreement 

AGENCY: Postal ServiceTM. 


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