By Pension and Benefits Editorial Staff
The Pension Benefit Guaranty Corporation (PBGC) has released a final rule that rescinds its internal regulations on guidance implementing the Trump Administration Executive Order, “Promoting the Rule of Law Through Improved Agency Guidance Documents” (EO 13891).
The prior regulations provided policy and requirements for issuing, modifying, withdrawing, and using guidance, and making guidance available to the public. It also provided a notice and comment process for significant guidance, and procedures concerning petitions about guidance. The rescinded final regulations, which had been effective August 26, 2020, added a new 29 CFR part 4908 to the Code of Federal Regulations.
New Administration’s regulatory action. President Biden’s “Executive Order on Revocation of Certain Executive Orders Concerning Federal Regulation” revokes EO 13891 and directs agencies to promptly take steps to rescind any orders, rules, regulations, guidelines, or policies, or portions thereof, implementing or enforcing the prior executive orders. The PBGC is issuing this final rule, which rescinds the prior final regulations on procedures for PBGC guidance documents in accordance with Biden’s Executive Order. Thus, the PBGC amends title 29, chapter XL, subchapter L of the Code of Federal Regulations by removing part 4908. This final rule is effective April 1, 2021.
Source: PBGC final rule, 86 FR 17066.
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