is the interest rate to be used for 415/417(e) purposes.
Column (2) is the interest rate to be used in calculating the present
value of vested benefits. This amount is needed to determine the PBGC variable
premium. Effective 1/2004, this rate is 85% of the 30 Year Treasury
Rate. See note below for 2002.
Column (3) is the rate set to be used in plan terminationís
Column (4) is the range for OBRA í87 current liability purposes.
Column (5) is 108% of midpoint for 1996, 107% for 1997, 106% for 1998, and
105% for 1999-2001, and 120% for 2002 and 2003, and 105% for 2004. See note below for
Column (6) is the interest rate to be used in calculating late charges for
missed quarterly contributions.
Column (7) is interest rate used for accumulating employee contributions
in Defined Benefit Plans.
Note: Due to the Job Creation and Worker
Assistance Act (JCWAA) of 2002, the Interest for PBGC Variable Premium
is 100% of the 30 Year Treasury rate, and the maximum RPA rate is 120%
of the mid-point for 2002 and 2003. As a result the January and February 2002 rates have been
corrected to reflect this legislation. The rates beginning Jan 2004 have
been revised due to the Pension Funding Equity Act of 2004.