Federal Register / Vol. 88, No. 228 / Wednesday, November 29, 2023 / Rules and Regulations 83349 

Deposit Insurance Fund, as of 

termination of the receiverships to 

which the March 12, 2023, systemic risk 

determination applied, minus the 

aggregate amount of the special 

assessment collected under this section 

through initial and extended special 

assessment periods, including the net 

amount of interest paid or received as a 

result of overpayments and 

underpayments. 

(3) One-time final shortfall special 

assessment rate. The final shortfall 

special assessment rate shall be the 

aggregate final shortfall special 

assessment amount divided by the total 

amount of uninsured deposits, as 

described in paragraph (f) of this 

section, adjusted for mergers, 

consolidation, and termination of 

insurance as of the assessment period 

preceding the final shortfall special 

assessment period, minus the $5 billion 

deduction for each insured depository 

institution or each institution’s portion 

of the $5 billion deduction. 

(4) One-time final shortfall special 

assessment base—(i) The one-time final 

shortfall special assessment base for an 

insured depository institution that has 

no affiliated insured depository 

institution shall equal: 

(A) The institution’s uninsured 

deposits; minus 

(B) $5 billion; provided, however, that 

an institution’s one-time final shortfall 

special assessment base cannot be 

negative. 

(ii) The one-time final shortfall 

special assessment base for an insured 

depository institution that has one or 

more affiliated insured depository 

institutions shall equal: 

(A) The institution’s uninsured 

deposits; minus 

(B) The institution’s portion of the $5 

billion deduction, adjusted for 

termination of insurance as of the 

assessment period preceding the final 

shortfall assessment period; provided, 

however, that an institution’s one-time 

final shortfall special assessment base 

cannot be negative. 

(5) Calculation of one-time final 

shortfall special assessment. An insured 

depository institution’s final shortfall 

special assessment shall be calculated 

by multiplying the final shortfall special 

assessment rate by the institution’s onetime final shortfall special assessment 

base. 

(6) One-time final special assessment. 

The one-time final shortfall special 

assessment shall be collected on a onetime quarterly basis after losses to the 

Deposit Insurance Fund are determined 

after termination of the receiverships to 

which the March 12, 2023, systemic risk 

determination applied. 

(7) Payment, invoicing, and mergers. 

Paragraphs (d), (e), and (k) of this 

section are applicable to the one-time 

shortfall special assessment. 

(n) Request for revisions. An insured 

depository institution may submit a 

written request for revision of the 

computation of any special assessment 

or shortfall special assessment pursuant 

to this part consistent with § 327.3(f). 

(o) Special assessment collection in 

excess of losses. Any special assessment 

collected under this section that exceeds 

the losses to the Deposit Insurance 

Fund, as of termination of the 

receiverships to which the March 12, 

2023, systemic risk determination 

applied, shall be placed in the Deposit 

Insurance Fund. 

(p) Rule of construction. Nothing in 

this section shall prevent the FDIC from 

imposing additional special assessments 

as required to recover current or future 

losses to the Deposit Insurance Fund 

resulting from any systemic risk 

determination under 12 U.S.C. 

1823(c)(4)(G). 

Federal Deposit Insurance Corporation. 

By order of the Board of Directors. 

Dated at Washington, DC, on November 16, 

2023. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2023–25813 Filed 11–28–23; 8:45 am] 

BILLING CODE 6714–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2023–2152; Project 

Identifier MCAI–2023–00798–T; Amendment 

39–22607; AD 2023–23–05] 

RIN 2120–AA64 

Airworthiness Directives; Bombardier, 

Inc., Airplanes 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule; request for 

comments. 

SUMMARY: The FAA is adopting a new 

airworthiness directive (AD) for certain 

Bombardier, Inc., Model BD–100–1A10 

airplanes. This AD was prompted by a 

design review of the avionic 

architecture of the pitch trim indication 

and alerting system that revealed 

software errors could generate 

misleading pitch trim indication to the 

crew, leading to incorrect horizontal 

stabilizer positioning at takeoff. This AD 

requires revising the Emergency 

Procedures and Normal Procedures of 

the existing airplane flight manual 

(AFM) to ensure the horizontal 

stabilizer is correctly configured prior to 

takeoff. The FAA is issuing this AD to 

address the unsafe condition on these 

products. 

DATES: This AD is effective December 

14, 2023. 

The Director of the Federal Register 

approved the incorporation by reference 

of certain publications listed in this AD 

as of December 14, 2023. 

The FAA must receive comments on 

this AD by January 16, 2024. 

ADDRESSES: You may send comments, 

using the procedures found in 14 CFR 

11.43 and 11.45, by any of the following 

methods: 

• Federal eRulemaking Portal: Go to 

regulations.gov. Follow the instructions 

for submitting comments. 

• Fax: 202–493–2251. 

• Mail: U.S. Department of 

Transportation, Docket Operations, M– 

30, West Building Ground Floor, Room 

W12–140, 1200 New Jersey Avenue SE, 

Washington, DC 20590. 

• Hand Delivery: Deliver to Mail 

address above between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. 

AD Docket: You may examine the AD 

docket at regulations.gov under Docket 

No. FAA–2023–2152; or in person at 

Docket Operations between 9 a.m. and 

5 p.m., Monday through Friday, except 

Federal holidays. The AD docket 

contains this final rule, the mandatory 

continuing airworthiness information 

(MCAI), any comments received, and 

other information. The street address for 

Docket Operations is listed above. 

Material Incorporated by Reference: 

• For service information identified 

in this final rule, contact Bombardier 

Business Aircraft Customer Response 

Center, 400 Coˆte-Vertu Road West, 

Dorval, Que ́bec H4S 1Y9, Canada; 

telephone 514–855–2999; email ac.yul@

aero.bombardier.com; website 

bombardier.com. 

• You may view this referenced 

service information at the FAA, 

Airworthiness Products Section, 

Operational Safety Branch, 2200 South 

216th St., Des Moines, WA. For 

information on the availability of this 

material at the FAA, call 206–231–3195. 

It is also available at regulations.gov 

under Docket No. FAA–2023–2152. 

FOR FURTHER INFORMATION CONTACT: 

Gabriel Kim, Aviation Safety Engineer, 

FAA, 1600 Stewart Avenue, Suite 410, 

Westbury, NY 11590; telephone 516– 

228–7300; email 9-avs-nyaco-cos@

faa.gov. 

SUPPLEMENTARY INFORMATION: 


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83350 Federal Register / Vol. 88, No. 228 / Wednesday, November 29, 2023 / Rules and Regulations 

Comments Invited 

The FAA invites you to send any 

written relevant data, views, or 

arguments about this final rule. Send 

your comments to an address listed 

under ADDRESSES. Include ‘‘Docket No. 

FAA–2023–2152; Project Identifier 

MCAI–2023–00798–T’’ at the beginning 

of your comments. The most helpful 

comments reference a specific portion of 

the final rule, explain the reason for any 

recommended change, and include 

supporting data. The FAA will consider 

all comments received by the closing 

date and may amend this final rule 

because of those comments. 

Except for Confidential Business 

Information (CBI) as described in the 

following paragraph, and other 

information as described in 14 CFR 

11.35, the FAA will post all comments 

received, without change, to 

regulations.gov, including any personal 

information you provide. The agency 

will also post a report summarizing each 

substantive verbal contact received 

about this final rule. 

Confidential Business Information 

CBI is commercial or financial 

information that is both customarily and 

actually treated as private by its owner. 

Under the Freedom of Information Act 

(FOIA) (5 U.S.C. 552), CBI is exempt 

from public disclosure. If your 

comments responsive to this AD contain 

commercial or financial information 

that is customarily treated as private, 

that you actually treat as private, and 

that is relevant or responsive to this AD, 

it is important that you clearly designate 

the submitted comments as CBI. Please 

mark each page of your submission 

containing CBI as ‘‘PROPIN.’’ The FAA 

will treat such marked submissions as 

confidential under the FOIA, and they 

will not be placed in the public docket 

of this AD. Submissions containing CBI 

should be sent to Gabriel Kim, Aviation 

Safety Engineer, FAA, 1600 Stewart 

Avenue, Suite 410, Westbury, NY 

11590; telephone 516–228–7300; email 

9-avs-nyaco-cos@faa.gov. Any 

commentary that the FAA receives 

which is not specifically designated as 

CBI will be placed in the public docket 

for this rulemaking. 

Background 

Transport Canada, which is the 

aviation authority for Canada, has 

issued Transport Canada AD CF–2023– 

48, dated June 30, 2023 (Transport 

Canada AD CF–2023–48), to correct an 

unsafe condition on certain Bombardier, 

Inc., Model BD–100–1A10 airplanes. 

Transport Canada AD CF–2023–48 

states that a Bombardier design review 

of the avionic architecture of the pitch 

trim indication and alerting system has 

revealed that software errors in the 

input/output concentrator, data 

concentrator unit, and/or adaptive flight 

display could generate misleading pitch 

trim indication to the crew, leading to 

incorrect horizontal stabilizer 

positioning at takeoff. Incorrect 

horizontal stabilizer positioning at 

takeoff could result in an extreme pitch 

oscillation and subsequent loss of 

control of the airplane and serious 

injury to passengers. 

After Transport Canada AD CF–2023– 

48 was issued, Transport Canada 

notified the FAA that the required 

actions in Transport Canada AD CF– 

2023–48 did not adequately address the 

unsafe condition, and that they planned 

to revise their AD accordingly. 

Subsequently, Transport Canada issued 

Transport Canada AD CF–2023–48R1, 

dated September 29, 2023 (Transport 

Canada AD CF–2023–48R1) (referred to 

after this as the MCAI) as an interim 

solution while it further investigates the 

unsafe condition. The MCAI requires 

mandating new AFM procedures to 

ensure the flightcrew checks that the 

horizontal stabilizer is correctly 

configured to prevent misleading pitch 

trim indications, which could result in 

extreme pitch oscillation. 

The FAA is issuing this AD to address 

the unsafe condition on these products. 

You may examine the MCAI in the AD 

docket at regulations.gov under Docket 

No. FAA–2023–2152. 

Related Service Information Under 1 

CFR Part 51 

The FAA reviewed the following 

Bombardier temporary revisions: 

• Bombardier Challenger 300 

Temporary Revision TR–94–1, to 

Airplane Flight Manual (AFM) CSP 

100–1, dated February 6, 2023; 

• Bombardier Challenger 300 

Temporary Revision TR–94–1, to AFM 

CSP 100–1 (Metric), dated February 6, 

2023; and 

• Bombardier Challenger 350 

Temporary Revision TR–25–1, to AFM 

CH 350, dated February 6, 2023. 

This service information describes 

procedures for revising the Emergency 

Procedures and Normal Procedures of 

the existing AFM to ensure the 

horizontal stabilizer is correctly 

configured prior to takeoff. These 

documents are distinct since they apply 

to different airplane configurations. 

The FAA also reviewed the following 

checklists: 

• ‘‘Takeoff Configuration Warnings,’’ 

of Chapter 3, ‘‘Emergency Procedures,’’ 

of the Bombardier Challenger 350 AFM, 

Publication No. CH 350 AFM, Revision 

38, dated May 11, 2023; and 

• ‘‘Before Starting Engines,’’ of 

Chapter 4, ‘‘Normal Procedures,’’ of the 

Bombardier Challenger 350 AFM, 

Publication No. CH 350 AFM, Revision 

38, dated May 11, 2023. 

These checklists include the same 

information specified in Bombardier 

Challenger 350 Temporary Revision TR– 

25–1, to AFM CH 350, dated February 

6, 2023, but with minor changes to text. 

(For obtaining the checklists for 

Bombardier Challenger 350 AFM, 

Publication No. CH 350 AFM, use 

Document Identification No. CH 350 

AFM.) 

This service information is reasonably 

available because the interested parties 

have access to it through their normal 

course of business or by the means 

identified in ADDRESSES. 

FAA’s Determination 

This product has been approved by 

the aviation authority of another 

country and is approved for operation in 

the United States. Pursuant to the FAA’s 

bilateral agreement with this State of 

Design Authority, it has notified the 

FAA of the unsafe condition described 

in the MCAI and service information 

referenced above. The FAA is issuing 

this AD after determining that the 

unsafe condition described previously is 

likely to exist or develop on other 

products of the same type design. 

AD Requirements 

This AD requires revising the 

Emergency Procedures and Normal 

Procedures of the existing AFM to 

ensure the horizontal stabilizer is 

correctly configured prior to takeoff. 

Compliance With AFM Revisions 

Transport Canada AD CF–2023–48R1 

requires operators to ‘‘advise all flight 

crews’’ of revisions to the AFM, and 

thereafter to ‘‘operate the aeroplane 

accordingly.’’ However, this AD does 

not specifically require those actions as 

those actions are already required by 

FAA regulations. FAA regulations 

require that operators furnish to pilots 

any changes to the AFM (for example, 

14 CFR 121.137), and to ensure the 

pilots are familiar with the AFM (for 

example, 14 CFR 91.505). As with any 

other flightcrew training requirement, 

training on the updated AFM content is 

tracked by the operators and recorded in 

each pilot’s training record, which is 

available for the FAA to review. FAA 

regulations also require pilots to follow 

the procedures in the existing AFM 

including all updates. 14 CFR 91.9 

requires that any person operating a 

civil aircraft must comply with the 


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Federal Register / Vol. 88, No. 228 / Wednesday, November 29, 2023 / Rules and Regulations 83351 

operating limitations specified in the 

AFM. Therefore, including a 

requirement in this AD to operate the 

airplane according to the revised AFM 

would be redundant and unnecessary. 

Further, compliance with such a 

requirement in an AD would be 

impracticable to demonstrate or track on 

an ongoing basis; therefore, a 

requirement to operate the airplane in 

such a manner would be unenforceable. 

Interim Action 

The FAA considers this AD to be an 

interim action. Transport Canada and 

Bombardier are still investigating the 

unsafe condition to determine if 

additional actions are necessary. If 

additional actions are determined to be 

necessary, the FAA may issue 

additional rulemaking. 

Justification for Immediate Adoption 

and Determination of the Effective Date 

Section 553(b)(3)(B) of the 

Administrative Procedure Act (APA) (5 

U.S.C. 551 et seq.) authorizes agencies 

to dispense with notice and comment 

procedures for rules when the agency, 

for ‘‘good cause,’’ finds that those 

procedures are ‘‘impracticable, 

unnecessary, or contrary to the public 

interest.’’ Under this section, an agency, 

upon finding good cause, may issue a 

final rule without providing notice and 

seeking comment prior to issuance. 

Further, section 553(d) of the APA 

authorizes agencies to make rules 

effective in less than thirty days, upon 

a finding of good cause. 

An unsafe condition exists that 

requires the immediate adoption of this 

AD without providing an opportunity 

for public comments prior to adoption. 

The FAA has found that the risk to the 

flying public justifies forgoing notice 

and comment prior to adoption of this 

rule because software errors in the 

avionic architecture of the pitch trim 

indication could generate misleading 

pitch trim indication to the crew, 

leading to incorrect horizontal stabilizer 

positioning at takeoff, which could 

result in an extreme pitch oscillation 

and subsequent loss of control of the 

airplane and serious injury to 

passengers. Accordingly, notice and 

opportunity for prior public comment 

are impracticable and contrary to the 

public interest pursuant to 5 U.S.C. 

553(b)(3)(B). 

In addition, the FAA finds that good 

cause exists pursuant to 5 U.S.C. 553(d) 

for making this amendment effective in 

less than 30 days, for the same reasons 

the FAA found good cause to forgo 

notice and comment. 

Regulatory Flexibility Act 

The requirements of the Regulatory 

Flexibility Act (RFA) do not apply when 

an agency finds good cause pursuant to 

5 U.S.C. 553 to adopt a rule without 

prior notice and comment. Because the 

FAA has determined that it has good 

cause to adopt this rule without prior 

notice and comment, RFA analysis is 

not required. 

Costs of Compliance 

The FAA estimates that this AD 

affects 740 airplanes of U.S. registry. 

The FAA estimates the following costs 

to comply with this AD: 

ESTIMATED COSTS FOR REQUIRED ACTIONS

Labor cost Parts cost Cost per 

product 

Cost on U.S. 

operators 

1 work-hour × $85 per hour = $85 .............................................................................................. $85 $85 $62,900

Authority for This Rulemaking 

Title 49 of the United States Code 

specifies the FAA’s authority to issue 

rules on aviation safety. Subtitle I, 

section 106, describes the authority of 

the FAA Administrator. Subtitle VII: 

Aviation Programs describes in more 

detail the scope of the Agency’s 

authority. 

The FAA is issuing this rulemaking 

under the authority described in 

Subtitle VII, Part A, Subpart III, Section 

44701: General requirements. Under 

that section, Congress charges the FAA 

with promoting safe flight of civil 

aircraft in air commerce by prescribing 

regulations for practices, methods, and 

procedures the Administrator finds 

necessary for safety in air commerce. 

This regulation is within the scope of 

that authority because it addresses an 

unsafe condition that is likely to exist or 

develop on products identified in this 

rulemaking action. 

Regulatory Findings 

This AD will not have federalism 

implications under Executive Order 

13132. This AD will not have a 

substantial direct effect on the States, on 

the relationship between the national 

government and the States, or on the 

distribution of power and 

responsibilities among the various 

levels of government. 

For the reasons discussed above, I 

certify that this AD: 

(1) Is not a ‘‘significant regulatory 

action’’ under Executive Order 12866, 

and 

(2) Will not affect intrastate aviation 

in Alaska. 

List of Subjects in 14 CFR Part 39 

Air transportation, Aircraft, Aviation 

safety, Incorporation by reference, 

Safety. 

The Amendment 

Accordingly, under the authority 

delegated to me by the Administrator, 

the FAA amends 14 CFR part 39 as 

follows: 

PART 39—AIRWORTHINESS 

DIRECTIVES 

■ 1. The authority citation for part 39 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40113, 44701. 

§ 39.13 [Amended] 

■ 2. The FAA amends § 39.13 by adding 

the following new airworthiness 

directive: 

2023–23–05 Bombardier, Inc.: Amendment 

39–22607; Docket No. FAA–2023–2152; 

Project Identifier MCAI–2023–00798–T. 

(a) Effective Date 

This airworthiness directive (AD) is 

effective December 14, 2023. 

(b) Affected ADs 

None. 

(c) Applicability 

This AD applies to Bombardier, Inc., 

Model BD–100–1A10 airplanes, certificated 

in any category, serial numbers 20003 

through 20936 inclusive. 

(d) Subject 

Air Transport Association (ATA) of 

America Code 31, Indicating/Recording 

System; 27, Flight Controls. 

(e) Reason 

This AD was prompted by a design review 

of the avionic architecture of the pitch trim 

indication and alerting system that revealed 

software errors could generate misleading 

pitch trim indication to the crew, leading to 

incorrect horizontal stabilizer positioning at 

takeoff. The FAA is issuing this AD to ensure 

the horizontal stabilizer is correctly 


ddrumheller on DSK120RN23PROD with RULES1
83352 Federal Register / Vol. 88, No. 228 / Wednesday, November 29, 2023 / Rules and Regulations 

configured prior to takeoff. The unsafe 

condition, if not addressed, could result in an 

extreme pitch oscillation and subsequent loss 

of control of the airplane and serious injury 

to passengers. 

(f) Compliance 

Comply with this AD within the 

compliance times specified, unless already 

done. 

(g) Revision of Existing Airplane Flight 

Manual (AFM) 

Within 60 days after the effective date of 

this AD, revise the Emergency Procedures in 

Section 03–35, and the Normal Procedures in 

Section 04–02, of the existing AFM to 

include the information specified in the 

service information identified in paragraph 

(g)(1) or (2), as applicable. 

(1) Bombardier Challenger 300 Temporary 

Revision TR–94–1, to Airplane Flight Manual 

(AFM) CSP 100–1, dated February 6, 2023; or 

Bombardier Challenger 300 Temporary 

Revision TR–94–1, to AFM CSP 100–1 

(Metric), dated February 6, 2023. 

(2) Bombardier Challenger 350 Temporary 

Revision TR–25–1, to AFM CH 350, dated 

February 6, 2023; or page 03–35–1, in 

checklist ‘‘Takeoff Configuration Warnings,’’ 

of Chapter 3, ‘‘Emergency Procedures,’’ and 

page 04–02–10, in checklist ‘‘Before Starting 

Engines,’’ of Chapter 4, ‘‘Normal 

Procedures,’’ of the Bombardier Challenger 

350 AFM, Publication No. CH 350 AFM, 

Revision 38, dated May 11, 2023. 

Note 1 to paragraph (g)(2): For obtaining 

the checklists for Bombardier Challenger 350 

AFM, Publication No. CH 350 AFM, use 

Document Identification No. CH 350 AFM. 

(h) Additional AD Provisions 

The following provisions also apply to this 

AD: 

(1) Alternative Methods of Compliance 

(AMOCs): The Manager, International 

Validation Branch, FAA, has the authority to 

approve AMOCs for this AD, if requested 

using the procedures found in 14 CFR 39.19. 

In accordance with 14 CFR 39.19, send your 

request to your principal inspector or 

responsible Flight Standards Office, as 

appropriate. If sending information directly 

to the manager of the International Validation 

Branch, mail it to the address identified in 

paragraph (i)(2) of this AD. Information may 

be emailed to: 9-AVS-NYACO-COS@faa.gov. 

Before using any approved AMOC, notify 

your appropriate principal inspector, or 

lacking a principal inspector, the manager of 

the responsible Flight Standards Office. 

(2) Contacting the Manufacturer: For any 

requirement in this AD to obtain instructions 

from a manufacturer, the instructions must 

be accomplished using a method approved 

by the Manager, International Validation 

Branch, FAA; or Transport Canada; or 

Bombardier’s Transport Canada Design 

Approval Organization (DAO). If approved by 

the DAO, the approval must include the 

DAO-authorized signature. 

(i) Additional Information 

(1) Refer to Transport Canada AD CF– 

2023–48R1, dated September 29, 2023, for 

related information. This Transport Canada 

AD may be found in the AD docket at 

regulations.gov under Docket No. FAA– 

2023–2152. 

(2) For more information about this AD, 

contact Gabriel Kim, Aviation Safety 

Engineer, FAA, 1600 Stewart Avenue, Suite 

410, Westbury, NY 11590; telephone 516– 

228–7300; email 9-avs-nyaco-cos@faa.gov. 

(j) Material Incorporated by Reference 

(1) The Director of the Federal Register 

approved the incorporation by reference 

(IBR) of the service information listed in this 

paragraph under 5 U.S.C. 552(a) and 1 CFR 

part 51. 

(2) You must use this service information 

as applicable to do the actions required by 

this AD, unless this AD specifies otherwise. 

(i) Bombardier Challenger 300 Temporary 

Revision TR–94–1, to Airplane Flight Manual 

(AFM) CSP 100–1, dated February 6, 2023. 

(ii) Bombardier Challenger 300 Temporary 

Revision TR–94–1, to AFM CSP 100–1 

(Metric), dated February 6, 2023. 

(iii) Bombardier Challenger 350 Temporary 

Revision TR–25–1, to AFM CH 350, dated 

February 6, 2023. 

(iv) ‘‘Takeoff Configuration Warnings,’’ of 

Chapter 3, ‘‘Emergency Procedures,’’ of the 

Bombardier Challenger 350 Airplane Flight 

Manual (AFM), Publication No. CH 350 

AFM, Revision 38, dated May 11, 2023. 

Note 2 to paragraph (j)(2)(iv): For 

obtaining the checklists specified in 

paragraphs (j)(2)(iv) and (v) of this AD for the 

Bombardier Challenger 350 AFM, Publication 

No. CH 350 AFM, use Document 

Identification No. CH 350 AFM. 

(v) ‘‘Before Starting Engines,’’ of Chapter 4, 

‘‘Normal Procedures,’’ of the Bombardier 

Challenger 350 AFM, Publication No. CH 

350, Revision 38, dated May 11, 2023. 

(3) For service information identified in 

this AD, contact Bombardier Business 

Aircraft Customer Response Center, 400 CoˆteVertu Road West, Dorval, Que ́bec H4S 1Y9, 

Canada; telephone 514–855–2999; email 

ac.yul@aero.bombardier.com; website 

bombardier.com. 

(4) You may view this service information 

at the FAA, Airworthiness Products Section, 

Operational Safety Branch, 2200 South 216th 

St., Des Moines, WA. For information on the 

availability of this material at the FAA, call 

206–231–3195. 

(5) You may view this material at the 

National Archives and Records 

Administration (NARA). For information on 

the availability of this material at NARA, 

visit www.archives.gov/federal-register/cfr/ 

ibr-locations or email fr.inspection@nara.gov. 

Issued on November 16, 2023. 

Ross Landes, 

Deputy Director for Regulatory Operations, 

Compliance & Airworthiness Division, 

Aircraft Certification Service. 

[FR Doc. 2023–26257 Filed 11–24–23; 5:00 pm] 

BILLING CODE 4910–13–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4044 

Allocation of Assets in SingleEmployer Plans; Valuation of Benefits 

and Assets; Expected Retirement Age 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This rule amends the 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 2024. This table is 

needed to compute the value of early 

retirement benefits and, thus, the total 

value of benefits under a plan. 

DATES: This rule is effective January 1, 

2024. 

FOR FURTHER INFORMATION CONTACT: 

Hilary Duke (duke.hilary@pbgc.gov), 

Assistant General Counsel for 

Regulatory Affairs, Office of the General 

Counsel, Pension Benefit Guaranty 

Corporation, 445 12th Street SW, 

Washington, DC 20024–2101, 202–229– 

3839. If you are deaf or hard of hearing, 

or have a speech disability, please dial 

7–1–1 to access telecommunications 

relay services. 

SUPPLEMENTARY INFORMATION: The 

Pension Benefit Guaranty Corporation 

(PBGC) administers the pension plan 

termination insurance program under 

title IV of the Employee Retirement 

Income Security Act of 1974 (ERISA). 

PBGC’s regulation on Allocation of 

Assets in Single-Employer Plans (29 

CFR part 4044) sets forth (in subpart B) 

the methods for valuing plan benefits of 

terminating single-employer plans 

covered under title IV. Guaranteed 

benefits and benefit liabilities under a 

plan that is undergoing a distress 

termination must be valued in 

accordance with subpart B of part 4044. 

In addition, when PBGC terminates an 

underfunded plan involuntarily 

pursuant to ERISA section 4042(a), it 

uses the subpart B valuation rules to 

determine the amount of the plan’s 

underfunding. 

Under § 4044.51(b) of the asset 

allocation regulation, early retirement 

benefits are valued based on the annuity 

starting date, if a retirement date has 

been selected, or the expected 

retirement age, if the annuity starting 

date is not known on the valuation date. 

Sections 4044.55 through 4044.57 set 

forth rules for determining the expected 


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