Federal Register / Vol. 86, No. 113 / Tuesday, June 15, 2021 / Rules and Regulations 31619 

1Public Law 101–410. 

2Public Law 114–74, Sec. 701. 

3Since the enactment of the Program Fraud Civil 

Remedies Act of 1986 (31 U.S.C.S. 3801, et seq.), 

HUD has direct statutory authority to impose civil 

money penalties in the case of false, fictitious, or 

fraudulent claims. HUD has this authority 

regardless of the language in 24 CFR 28.10. 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

24 CFR Part 28 

[Docket No. FR–6196–C–02] 

Adjustment of Civil Monetary Penalty 

Amounts for 2020; Correction 

AGENCY: Office of General Counsel, 

HUD. 

ACTION: Final rule; correcting 

amendment. 

SUMMARY: On March 6, 2020, HUD 

published its Adjustment of Civil 

Monetary Penalty Amounts for 2020 

final rule. Subsequently, when HUD 

published its 2021 Civil Monetary 

Penalty final rule, HUD became aware of 

an error in the codification of the 2020 

rule. As a result, HUD is publishing this 

rule to correct the earlier codification 

error. 

DATES: Effective June 15, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Aaron Santa Anna, Associate General 

Counsel for Legislation and Regulations, 

Department of Housing and Urban 

Development, 451 7th Street SW, Room 

10238, Washington, DC 20410; 

telephone number 202–708–1793 (this 

is not a toll-free number). Persons with 

hearing or speech impairments may 

access this number through TTY by 

calling the toll-free Federal Relay at 

800–877–8339 (this is a toll-free 

number). 

SUPPLEMENTARY INFORMATION: Revisions 

to HUD’s civil money penalty amounts 

are required annually by the Federal 

Civil Penalties Inflation Adjustment Act 

of 1990,1 as amended by the Federal 

Civil Penalties Inflation Adjustment Act 

Improvements Act of 2015.2

On March 6, 2020 (85 FR 13041), 

HUD published its Adjustment of Civil 

Monetary Penalty Amounts for 2020 

final rule. In that rule, HUD’s 

amendatory instructions for 24 CFR 

28.10 directed the Federal Register to 

‘‘[r]evise paragraphs (a)(1) introductory 

text and (b)(1) introductory text.’’ HUD 

used this amendatory instruction in 

publishing its annual civil money 

penalty adjustment final rules in 2017 

(May 30, 2017, 82 FR 24521), 2018 (July 

16, 2018, 83 FR 32790), and 2019 

(March 15, 2019, 84 FR 9451). 

Subsequent to HUD’s publication of 

its Adjustment of Civil Monetary 

Penalty Amounts for 2021 final rule 

(March 16, 2021, 86 FR 14370), 

however, HUD became aware of an error 

in the codification of 24 CFR 28.10. 

Section 28.10 provides the basis for civil 

penalties and assessments under the 

Program Fraud Civil Remedies Act of 

1986.3 Specifically, HUD determined 

that paragraph (a)(1)(i), which provides 

that a civil penalty may be imposed 

when a claim is made that ‘‘is false, 

fictitious, or fraudulent,’’ failed to 

codify. 

To correct this error in the 

codification of HUD’s Adjustment of 

Civil Monetary Penalty Amounts for 

2020 final rule, this rule recodifies 24 

CFR 28.10(a)(1)(i). 

List of Subjects in 24 CFR Part 28 

Administrative practice and 

procedure, Claims, Fraud, Penalties. 

Accordingly, 24 CFR part 28 is 

corrected by making the following 

correcting amendment: 

PART 28—IMPLEMENTATION OF THE 

PROGRAM FRAUD CIVIL REMEDIES 

ACT OF 1986 

■ 1. The authority citation for part 28 

continues to read as follows: 

Authority: 28 U.S.C. 2461 note; 31 U.S.C. 

3801–3812; 42 U.S.C. 3535(d). 

■ 2. Amend § 28.10 by adding paragraph 

(a)(1)(i) to read as follows: 

§ 28.10 Basis for civil penalties and 

assessments. 

(a) * * * 

(1) * * * 

(i) Is false, fictitious, or fraudulent; 

* * * * * 

Aaron Santa Anna, 

Associate General Counsel for Legislation and 

Regulations. 

[FR Doc. 2021–12452 Filed 6–14–21; 8:45 am] 

BILLING CODE 4210–67–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4044 

Allocation of Assets in SingleEmployer Plans; Interest Assumptions 

for Valuing Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation (PBGC). 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulation on Allocation of Assets in 

Single-Employer Plans to prescribe 

interest assumptions under the asset 

allocation regulation for plans with 

valuation dates in the third quarter of 

2021. These interest assumptions are 

used for valuing benefits under 

terminating single-employer plans and 

for other purposes. 

DATES: Effective July 1, 2021. 

FOR FURTHER INFORMATION CONTACT: 

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

Assistant General Counsel for 

Regulatory Affairs, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW, Washington, DC 20005, 202–229– 

3839. (TTY users may call the Federal 

relay service toll free at 1–800–877– 

8339 and ask to be connected to 202– 

229–3839.) 

SUPPLEMENTARY INFORMATION: PBGC’s 

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044) prescribes actuarial 

assumptions—including interest 

assumptions—for valuing benefits under 

terminating single-employer plans 

covered by title IV of the Employee 

Retirement Income Security Act of 1974 

(ERISA). The interest assumptions in 

the regulation are also published on 

PBGC’s website (https://www.pbgc.gov). 

PBGC uses the interest assumptions in 

appendix B to part 4044 (‘‘Interest Rates 

Used to Value Benefits’’) to determine 

the present value of annuities in an 

involuntary or distress termination of a 

single-employer plan under the asset 

allocation regulation. The assumptions 

are also used to determine the value of 

multiemployer plan benefits and certain 

assets when a plan terminates by mass 

withdrawal in accordance with PBGC’s 

regulation on Duties of Plan Sponsor 

Following Mass Withdrawal (29 CFR 

part 4281). 

The third quarter 2021 interest 

assumptions will be 2.13 percent for the 

first 25 years following the valuation 

date and 2.23 percent thereafter. In 

comparison with the interest 

assumptions in effect for the second 

quarter of 2021, these interest 

assumptions represent an increase of 5 


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