X98-21029. Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits

[Federal Register Volume 63, Number 209 (Thursday, October 29, 1998)]
[Corrections]
[Page 58101]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: X98-21029]


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PENSION BENEFIT GUARANTY CORPORATION

29 CFR Part 4044


Allocation of Assets in Single-Employer Plans; Interest 
Assumptions for Valuing Benefits

Correction

    In rule document 98-27660 beginning on page 55333 in the issue of 
Thursday, October 15, 1998 make the following correction:

Appendix B to Part 4044 [Corrected]

    On page 55334 the tables should appear as set forth below:

                                          Table I.--Annuity Valuations
   [This table sets forth, for each indicated calendar month, the interest rates (denoted by i1, i2,* * *, and
  referred to generally as it) assumed to be in effect between specified anniversaries of a valuation date that
 occurs within that calendar month; those anniversaries are specified in the columns adjacent to the rates. The
              last listed rate is assumed to be in effect after the last listed anniversary date.]
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                                                             The values of it are:
For valuation dates occurring ----------------------------------------------------------------------------------
        in the month--              it        for t =         it        for t =          it           for t =
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      *                   *                   *                   *                   *                   *
                                                  *
November 1998................        .0530         1-25        .0525          >25  N/A             N/A
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                                                             Table II.--Lump Sum Valuations
  [In using this table: (1) For benefits for which the participant or beneficiary is entitled to be in pay status on the valuation date, the immediate
 annuity rate shall apply; (2) For benefits for which the deferral period is y years (where y is an integer and 0 < y=""> n1), interest rate i1
   shall apply from the valuation date for a period of y years, and thereafter the immediate annuity rate shall apply; (3) For benefits for which the
deferral period is y years (where y is an integer and n1 < y=""> n11 + n2), interest rate i2 shall apply from the valuation date for a period of
 y--n1 years, interest rate i1 shall apply for the following n1 years, and thereafter the immediate annuity rate shall apply; (4) For benefits for which
 the deferral period is y years (where y is an integer and y > n11 + n2), interest rate i3 shall apply from the valuation date for a period of y--n1--n2
  years, interest rate i2 shall apply for the following n2 years, interest rate i1 shall apply for the following n1 years, and thereafter the immediate
                                                               annuity rate shall apply.]
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                                                      For plans with a       Immediate                     Deferred annuities (percent)
                                                       valuation date         annuity   ----------------------------------------------------------------
                    Rate set                     --------------------------     rate
                                                  On or after     Before     (percent)        i1           i2           i3           n1           n2
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       *                   *                   *                   *                   *                   *                   *
61..............................................      11-1-98      12-1-98         3.75         4.00         4.00         4.00            7            8
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BILLING CODE 1505-01-D