Source: https://www.federalregister.gov/documents/2005/03/15/05-5010/benefits-payable-in-terminated-single-employer-plans-allocation-of-assets-in-single-employer-plans
Timestamp: 2017-11-23 08:23:45
Document Index: 2938491

Matched Legal Cases: ['art 4044', 'art 4022', 'art 4022', 'art 4044', 'art 4022', 'art 4022', 'art 4022']

A Rule by the Pension Benefit Guaranty Corporation on 03/15/2005
70 FR 12585
12585-12587 (3 pages)
https://www.federalregister.gov/d/05-5010 https://www.federalregister.gov/d/05-5010
Catherine B. Klion, Attorney, Legislative and Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005, (202) 326-4024. (TTY/TDD users may call the Federal relay service toll-free at 1-800-877-8339 and ask to be connected to (202) 326-4024.)
Accordingly, this amendment (1) adds to Appendix B to part 4044 the interest assumptions for valuing benefits for allocation purposes in plans with valuation dates during April 2005, (2) Start Printed Page 12586adds to Appendix B to part 4022 the interest assumptions for the PBGC to use for its own lump-sum payments in plans with valuation dates during April 2005, and (3) adds to Appendix C to part 4022 the interest assumptions for private-sector pension practitioners to refer to if they wish to use lump-sum interest rates determined using the PBGC's historical methodology for valuation dates during April 2005.
For valuation of benefits for allocation purposes, the interest assumptions that the PBGC will use (set forth in Appendix B to part 4044) will be 3.80 percent for the first 20 years following the valuation date and 4.75 percent thereafter. These interest assumptions are unchanged from those in effect for March 2005.
The interest assumptions that the PBGC will use for its own lump-sum payments (set forth in Appendix B to part 4022) will be 2.75 percent for the period during which a benefit is in pay status and 4.00 percent during any years preceding the benefit's placement in pay status. These interest assumptions are unchanged from those in effect for March 2005.
Because of the need to provide immediate guidance for the valuation and payment of benefits in plans with valuation dates during April 2005, the PBGC finds that good cause exists for making the assumptions set forth in this amendment effective less than 30 days after publication.
2. In Appendix B to part 4022, Rate Set 138, as set forth below, is added to the table. (The introductory text of the table is omitted.)
3. In Appendix C to part 4022, Rate Set 138, as set forth below, is added to the table. (The introductory text of the table is omitted.)
138 4-1-05 5-1-05 2.75 4.00 4.00 4.00 7
April 2005 .0380 1-20 .0475 >20 N/A N/A
Issued in Washington, DC, on this 9th day of March 2005.
[FR Doc. 05-5010 Filed 3-14-05; 8:45 am]