104040 Federal Register / Vol. 89, No. 245 / Friday, December 20, 2024 / Rules and Regulations 

1 In June 2024, PBGC issued a final rule at 89 FR 

48291 updating the interest, mortality, and expense 

assumptions used to determine the present value of 

a single-employer plan’s benefits when it terminates 

in a distress or involuntary termination. This rule 

moved the expected retirement ages tables from 

Appendix D in part 4044 to § 4044.58. 

2PBGC’s June 2024 final rule does not apply to 

calculations where the valuation date is before July 

31, 2024. 

English. Persons with disabilities who 

require alternative means of 

communication to obtain program 

information (e.g., Braille, large print, 

audiotape, American Sign Language) 

should contact the responsible Mission 

Area, agency, or staff office; or the 711 

Relay Service. 

To file a program discrimination 

complaint, a complainant should 

complete a Form AD–3027, USDA 

Program Discrimination Complaint 

Form, which can be obtained online at 

https://www.usda.gov/sites/default/ 

files/documents/ad-3027.pdf from any 

USDA office, by calling (866) 632–9992, 

or by writing a letter addressed to 

USDA. The letter must contain the 

complainant’s name, address, telephone 

number, and a written description of the 

alleged discriminatory action in 

sufficient detail to inform the Assistant 

Secretary for Civil Rights (ASCR) about 

the nature and date of an alleged civil 

rights violation. The completed AD– 

3027 form or letter must be submitted to 

USDA by: 

(1) Mail: U.S. Department of 

Agriculture, Director, Office of 

Adjudication, 1400 Independence 

Avenue SW, Washington, DC 20250– 

9410; 

(2) Fax: (202) 690–7442; or 

(3) Email: program.intake@usda.gov. 

USDA is an equal opportunity 

provider, employer, and lender. 

Yvonne Hsu, 

Acting Administrator, Rural Housing Service. 

[FR Doc. 2024–30330 Filed 12–19–24; 8:45 am] 

BILLING CODE 3410–XV–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4044 

Allocation of Assets in SingleEmployer Plans; Valuation of Benefits 

and Assets; Expected Retirement Age; 

Missing Participants Mortality 

Assumption 

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 2025. This table is 

needed to compute the value of early 

retirement benefits and, thus, the total 

value of benefits under a plan. This rule 

also provides the mortality assumption 

for use with PBGC’s missing 

participants program for determination 

dates in 2025. 

DATES: This rule is effective January 1, 

2025. 

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: 

Background 

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. 

Expected Retirement Age Low, Medium, 

High Tables 

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 4044.58 set 

forth rules for determining the expected 

retirement ages for plan participants 

entitled to early retirement benefits. 

Section 4044.58 contains tables to be 

used in determining the expected early 

retirement ages.1

Table I to § 4044.58 (Selection of 

Retirement Rate Category) is used to 

determine whether a participant has a 

low, medium, or high probability of 

retiring early. The determination is 

based on the year a participant would 

reach ‘‘unreduced retirement age’’ 

(URA) (i.e., the earlier of the normal 

retirement age or the age at which an 

unreduced benefit is first payable) and 

the participant’s monthly benefit at the 

unreduced retirement age. The table 

applies only to plans with valuation 

dates in the current year and is updated 

annually by PBGC to reflect changes in 

the cost of living. 

Tables II–A, II–B, and II–C (Expected 

Retirement Ages for Individuals in the 

Low, Medium, and High Categories 

respectively) are used to determine the 

expected retirement age after the 

probability of early retirement has been 

determined using Table I. These tables 

establish, by probability category, the 

expected retirement age based on both 

the earliest age a participant could retire 

under the plan and the unreduced 

retirement age. This expected retirement 

age is used to compute the value of the 

early retirement benefit and, thus, the 

total value of benefits under the plan. 

This document amends § 4044.58 to 

replace Table I–24 with Table I–25 to 

provide an updated correlation, 

appropriate for calendar year 2025, 

between the amount of a participant’s 

benefit and the probability that the 

participant will elect early retirement. 

Table I–25 will be used to value benefits 

in plans with valuation dates during 

calendar year 2025. 

Missing Participants Mortality 

Assumptions 

PBGC’s regulation on Missing 

Participants (29 CFR part 4050) provides 

that the mortality assumption used to 

determine certain amounts to be 

transferred on behalf of a missing 

participant from a terminating defined 

benefit plan to PBGC is the mortality 

table in § 4044.53(h). The table currently 

provides the mortality assumption only 

for benefit determination dates on July 

31 2 and later in 2024. This rule updates 

the table to provide the mortality 

assumption for benefit determination 

dates in 2025. 

Compliance With Regulatory 

Requirements 

PBGC has determined that notice of, 

and public comment on, this rule are 

impracticable, unnecessary, and 

contrary to the public interest. PBGC’s 

update of § 4044.58 and § 4044.53(h) for 

calendar year 2025 are routine. If a plan 

has a valuation date in 2025, the plan 

administrator needs the updated table in 


ddrumheller on DSK120RN23PROD with RULES1
Federal Register / Vol. 89, No. 245 / Friday, December 20, 2024 / Rules and Regulations 104041 

§ 4044.58 being promulgated in this rule 

to value benefits. Similarly, if a plan is 

transferring amounts on behalf of 

missing participants under part 4050, 

the plan administrator needs the 

updated mortality table in § 4044.53(h) 

for benefit determination dates in 2025. 

Accordingly, PBGC finds that the public 

interest is best served by issuing these 

tables expeditiously, without an 

opportunity for notice and comment, 

and that good cause exists for making 

the table set forth in this amendment 

effective less than 30 days after 

publication to allow the use of the 

proper tables to determine the value 

benefits for dates in early 2025. 

PBGC has determined that this action 

is not a ‘‘significant regulatory action’’ 

under the criteria set forth in Executive 

Order 12866. 

Because no general notice of proposed 

rulemaking is required for this 

regulation, the Regulatory Flexibility 

Act of 1980 does not apply (5 U.S.C. 

601(2)). 

List of Subjects in 29 CFR Part 4044 

Employee benefit plans, Pension 

insurance. 

In consideration of the foregoing, 29 

CFR part 4044 is amended as follows: 

PART 4044—ALLOCATION OF 

ASSETS IN SINGLE-EMPLOYER 

PLANS 

■ 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. 

■ 2. Amend § 4044.53 by revising table 

4 to paragraph (h) to read as follows: 

§ 4044.53 Mortality assumptions. 

* * * * * 

(h) * * * 

TABLE 4 TO PARAGRAPH (h)—MISSING PARTICIPANTS UNISEX MORTALITY TABLE

Age Benefit determination 

dates in 2024 

Benefit determination 

dates in 2025 

0 ............................................................................................................................................... 0.00207 0.00204 

1 ............................................................................................................................................... 0.00015 0.00014 

2 ............................................................................................................................................... 0.00010 0.00009 

3 ............................................................................................................................................... 0.00008 0.00007 

4 ............................................................................................................................................... 0.00006 0.00006 

5 ............................................................................................................................................... 0.00006 0.00005 

6 ............................................................................................................................................... 0.00005 0.00005 

7 ............................................................................................................................................... 0.00005 0.00005 

8 ............................................................................................................................................... 0.00004 0.00004 

9 ............................................................................................................................................... 0.00004 0.00004 

10 ............................................................................................................................................. 0.00004 0.00004 

11 ............................................................................................................................................. 0.00004 0.00004 

12 ............................................................................................................................................. 0.00005 0.00005 

13 ............................................................................................................................................. 0.00006 0.00006 

14 ............................................................................................................................................. 0.00008 0.00007 

15 ............................................................................................................................................. 0.00009 0.00009 

16 ............................................................................................................................................. 0.00010 0.00010 

17 ............................................................................................................................................. 0.00012 0.00012 

18 ............................................................................................................................................. 0.00014 0.00014 

19 ............................................................................................................................................. 0.00016 0.00015 

20 ............................................................................................................................................. 0.00016 0.00016 

21 ............................................................................................................................................. 0.00017 0.00016 

22 ............................................................................................................................................. 0.00017 0.00017 

23 ............................................................................................................................................. 0.00018 0.00018 

24 ............................................................................................................................................. 0.00019 0.00019 

25 ............................................................................................................................................. 0.00020 0.00019 

26 ............................................................................................................................................. 0.00021 0.00020 

27 ............................................................................................................................................. 0.00022 0.00021 

28 ............................................................................................................................................. 0.00023 0.00022 

29 ............................................................................................................................................. 0.00023 0.00023 

30 ............................................................................................................................................. 0.00025 0.00025 

31 ............................................................................................................................................. 0.00026 0.00026 

32 ............................................................................................................................................. 0.00028 0.00027 

33 ............................................................................................................................................. 0.00030 0.00030 

34 ............................................................................................................................................. 0.00032 0.00031 

35 ............................................................................................................................................. 0.00034 0.00034 

36 ............................................................................................................................................. 0.00036 0.00036 

37 ............................................................................................................................................. 0.00038 0.00038 

38 ............................................................................................................................................. 0.00040 0.00040 

39 ............................................................................................................................................. 0.00043 0.00042 

40 ............................................................................................................................................. 0.00044 0.00044 

41 ............................................................................................................................................. 0.00046 0.00045 

42 ............................................................................................................................................. 0.00048 0.00047 

43 ............................................................................................................................................. 0.00049 0.00049 

44 ............................................................................................................................................. 0.00052 0.00051 

45 ............................................................................................................................................. 0.00054 0.00053 

46 ............................................................................................................................................. 0.00058 0.00057 

47 ............................................................................................................................................. 0.00061 0.00060 

48 ............................................................................................................................................. 0.00065 0.00064 

49 ............................................................................................................................................. 0.00070 0.00069 

50 ............................................................................................................................................. 0.00076 0.00076 

51 ............................................................................................................................................. 0.00085 0.00084 


ddrumheller on DSK120RN23PROD with RULES1
104042 Federal Register / Vol. 89, No. 245 / Friday, December 20, 2024 / Rules and Regulations 

TABLE 4 TO PARAGRAPH (h)—MISSING PARTICIPANTS UNISEX MORTALITY TABLE—Continued 

Age Benefit determination 

dates in 2024 

Benefit determination 

dates in 2025 

52 ............................................................................................................................................. 0.00095 0.00094 

53 ............................................................................................................................................. 0.00106 0.00105 

54 ............................................................................................................................................. 0.00120 0.00118 

55 ............................................................................................................................................. 0.00143 0.00141 

56 ............................................................................................................................................. 0.00177 0.00174 

57 ............................................................................................................................................. 0.00205 0.00202 

58 ............................................................................................................................................. 0.00239 0.00235 

59 ............................................................................................................................................. 0.00276 0.00273 

60 ............................................................................................................................................. 0.00321 0.00317 

61 ............................................................................................................................................. 0.00370 0.00365 

62 ............................................................................................................................................. 0.00441 0.00434 

63 ............................................................................................................................................. 0.00514 0.00507 

64 ............................................................................................................................................. 0.00577 0.00570 

65 ............................................................................................................................................. 0.00658 0.00650 

66 ............................................................................................................................................. 0.00748 0.00738 

67 ............................................................................................................................................. 0.00834 0.00823 

68 ............................................................................................................................................. 0.00928 0.00916 

69 ............................................................................................................................................. 0.01034 0.01021 

70 ............................................................................................................................................. 0.01155 0.01141 

71 ............................................................................................................................................. 0.01294 0.01278 

72 ............................................................................................................................................. 0.01452 0.01435 

73 ............................................................................................................................................. 0.01631 0.01611 

74 ............................................................................................................................................. 0.01837 0.01815 

75 ............................................................................................................................................. 0.02073 0.02049 

76 ............................................................................................................................................. 0.02345 0.02317 

77 ............................................................................................................................................. 0.02656 0.02626 

78 ............................................................................................................................................. 0.03012 0.02979 

79 ............................................................................................................................................. 0.03417 0.03382 

80 ............................................................................................................................................. 0.03899 0.03862 

81 ............................................................................................................................................. 0.04395 0.04356 

82 ............................................................................................................................................. 0.04959 0.04916 

83 ............................................................................................................................................. 0.05595 0.05549 

84 ............................................................................................................................................. 0.06317 0.06267 

85 ............................................................................................................................................. 0.07138 0.07083 

86 ............................................................................................................................................. 0.08063 0.08005 

87 ............................................................................................................................................. 0.09107 0.09044 

88 ............................................................................................................................................. 0.10286 0.10220 

89 ............................................................................................................................................. 0.11596 0.11526 

90 ............................................................................................................................................. 0.13036 0.12962 

91 ............................................................................................................................................. 0.14540 0.14463 

92 ............................................................................................................................................. 0.16090 0.16012 

93 ............................................................................................................................................. 0.17679 0.17601 

94 ............................................................................................................................................. 0.19284 0.19206 

95 ............................................................................................................................................. 0.20898 0.20822 

96 ............................................................................................................................................. 0.22620 0.22545 

97 ............................................................................................................................................. 0.24386 0.24311 

98 ............................................................................................................................................. 0.26196 0.26123 

99 ............................................................................................................................................. 0.28059 0.27986 

100 ........................................................................................................................................... 0.29960 0.29887 

101 ........................................................................................................................................... 0.31891 0.31817 

102 ........................................................................................................................................... 0.33825 0.33748 

103 ........................................................................................................................................... 0.35757 0.35673 

104 ........................................................................................................................................... 0.37670 0.37583 

105 ........................................................................................................................................... 0.39521 0.39436 

106 ........................................................................................................................................... 0.41327 0.41245 

107 ........................................................................................................................................... 0.43080 0.42999 

108 ........................................................................................................................................... 0.44743 0.44667 

109 ........................................................................................................................................... 0.46339 0.46271 

110 ........................................................................................................................................... 0.47628 0.47568 

111 ........................................................................................................................................... 0.48468 0.48417 

112 ........................................................................................................................................... 0.49268 0.49226 

113 ........................................................................................................................................... 0.49666 0.49634 

114 ........................................................................................................................................... 0.49795 0.49773 

115 ........................................................................................................................................... 0.49928 0.49915 

116 ........................................................................................................................................... 0.49960 0.49953 

117 ........................................................................................................................................... 0.49978 0.49973 

118 ........................................................................................................................................... 0.49995 0.49993 

119 ........................................................................................................................................... 0.50000 0.50000 

120 ........................................................................................................................................... 1.00000 1.00000 


ddrumheller on DSK120RN23PROD with RULES1
Federal Register / Vol. 89, No. 245 / Friday, December 20, 2024 / Rules and Regulations 104043 

1Specifically: 30 Texas Administrative Code 

(TAC) 111.111 (originally adopted as Texas Air 

Control Board (TACB) Regulation I, Rule 103), 

which limits opacity; and 30 TAC 111.153(b) 

(originally adopted as TACB Regulation I, Rule 

105.31), which limits particulate matter emissions 

from solid fuel fired-steam generators to 0.3 lbs/ 

million Btu averaged over a two-hour period. TACB 

Regulation I, Rules 103 and 105.31 were approved 

by EPA on May 31, 1972 (37 FR 10895); these rules 

were subsequently revised (amendments most 

recently approved May 8, 1996 (61 FR 20732), and 

April 28, 2009 (74 FR 19144)), which renumbered 

and recodified these rules to what they are today. 

■ 3. Amend § 4044.58 by revising table 

1 to § 4044.58 to read as follows: 

§ 4044.58 Tables used to determine 

expected retirement age. 

* * * * * 

TABLE 1 TO § 4044.58—TABLE I–25—SELECTION OF RETIREMENT RATE CATEGORY

[For valuation dates in 2025 1] 

If participant 

reaches URA in 

year— 

Participant’s retirement rate category is— 

Low 2 if monthly 

benefit at URA 

is less than— 

Medium 3 if monthly benefit 

at URA is— High 4 if monthly 

benefit at URA is 

greater than— From— To— 

2026 ......................................................................................... 825 825 3,486 3,486 

2027 ......................................................................................... 844 844 3,566 3,566 

2028 ......................................................................................... 864 864 3,648 3,648 

2029 ......................................................................................... 884 884 3,732 3,732 

2030 ......................................................................................... 904 904 3,818 3,818 

2031 ......................................................................................... 925 925 3,906 3,906 

2032 ......................................................................................... 946 946 3,996 3,996 

2033 ......................................................................................... 968 968 4,088 4,088 

2034 ......................................................................................... 990 990 4,182 4,182 

2035 or later ............................................................................ 1,013 1,013 4,278 4,278 

1Applicable tables for valuation dates before 2025 are available on PBGC’s website (www.pbgc.gov). 2Table II–A. 

3Table II–B. 

4Table II–C. 

* * * * * 

Issued in Washington, DC. 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2024–29105 Filed 12–19–24; 8:45 am] 

BILLING CODE 7709–02–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R06–OAR–2021–0029; FRL–12218– 

02–R6] 

Air Plan Disapproval; Texas; Control of 

Air Pollution From Visible Emissions 

and Particulate Matter 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: Pursuant to the Federal Clean 

Air Act (CAA, the Act), the 

Environmental Protection Agency (EPA) 

is disapproving a revision to the Texas 

State Implementation Plan (SIP) 

submitted by the State of Texas through 

the Texas Commission on 

Environmental Quality (TCEQ) on 

August 20, 2020 (2020 SIP revision). 

The 2020 SIP revision addresses 

emissions during planned Maintenance, 

Startup and Shutdown (MSS) activities 

for certain Electric Generating Units 

(EGUs) and includes requirements 

intended to address visible emissions 

(opacity) and Particulate Matter (PM) 

emissions during planned MSS 

activities. The requirements are 

included in eight Agreed Orders (AOs) 

issued by TCEQ to the affected EGUs 

and provided in the 2020 SIP revision. 

EPA determined that the requirements 

contained in these AOs do not meet the 

CAA enforceability requirements or the 

CAA requirement that emission 

limitations must apply on a continuous 

basis. We are taking this action in 

accordance with section 110 of the Act. 

DATES: This rule is effective on January 

21, 2025. 

ADDRESSES: The EPA has established a 

docket for this action under Docket ID 

No. EPA–R06–OAR–2021–0029. All 

documents in the docket are listed on 

the https://www.regulations.gov 

website. Although listed in the index, 

some information is not publicly 

available, e.g., Confidential Business 

Information or other information whose 

disclosure is restricted by statute. 

Certain other material, such as 

copyrighted material, is not placed on 

the internet. Publicly available docket 

materials are available electronically 

through https://www.regulations.gov. 

FOR FURTHER INFORMATION CONTACT: 

Michael Feldman, Regional Haze and 

SO2 Section, EPA Region 6 Office, 1201 

Elm Street, Suite 500, Dallas, Texas 

75270, (214) 665–9793, 

Feldman.Michael@epa.gov. Please call 

or email the contact listed above if you 

need alternative access to material 

indexed but not provided in the docket. 

SUPPLEMENTARY INFORMATION: 

Throughout this document ‘‘we,’’ ‘‘us,’’ 

and ‘‘our’’ means the EPA. 

I. Background and Summary of Bases 

for Disapproval 

The background for this action is 

discussed in detail in our September 3, 

2024, proposal (89 FR 71237). In that 

document, we proposed to disapprove a 

revision to the SIP submitted by the 

State of Texas through the TCEQ on 

August 20, 2020, that addresses 

emissions during planned MSS 

activities for specified EGUs and 

includes requirements intended to 

address visible emissions (opacity) and 

PM emissions during planned MSS 

activities at these specified EGUs. 

The 2020 SIP revision and included 

AOs were intended to address concerns 

regarding the applicability of two long 

standing Texas rules during periods of 

MSS.1 Texas included in the 2020 SIP 

revision the State’s interpretation of 

these rules, taking the position that the 

numerical opacity and PM limits have 

never applied to coal fired EGUs using 

ESPs during periods of MSS because of 


ddrumheller on DSK120RN23PROD with RULES1