80 FR 26822 - Disclosure to Shareholders; Pension Benefit Disclosures

FARM CREDIT ADMINISTRATION

Federal Register Volume 80, Issue 90 (May 11, 2015)

Page Range		26822-26822
FR Document		2015-11286

The Farm Credit Administration (FCA or we) adopted a final rule related to Farm Credit System (System) bank and association disclosures to shareholders and investors of senior officer compensation in the Summary Compensation Table (Table). Under the final rule, System banks and associations are not required to report in the Table the compensation of employees who are not senior officers and who would not otherwise be considered ``highly compensated employees'' but for the payments related to, or change(s) in value of, the employees' qualified pension plans, provided that the plans were available to all employees on the same basis at the time the employees joined the plans. In accordance with the law, the effective date of the rule is 30 days from the date of publication in the Federal Register during which either or both Houses of Congress are in session.

Federal Register, Volume 80 Issue 90 (Monday, May 11, 2015)

[Federal Register Volume 80, Number 90 (Monday, May 11, 2015)]
[Rules and Regulations]
[Page 26822]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-11286]


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FARM CREDIT ADMINISTRATION

12 CFR Part 620

RIN 3052-AD02


Disclosure to Shareholders; Pension Benefit Disclosures

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

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SUMMARY: The Farm Credit Administration (FCA or we) adopted a final 
rule related to Farm Credit System (System) bank and association 
disclosures to shareholders and investors of senior officer 
compensation in the Summary Compensation Table (Table). Under the final 
rule, System banks and associations are not required to report in the 
Table the compensation of employees who are not senior officers and who 
would not otherwise be considered ``highly compensated employees'' but 
for the payments related to, or change(s) in value of, the employees' 
qualified pension plans, provided that the plans were available to all 
employees on the same basis at the time the employees joined the plans. 
In accordance with the law, the effective date of the rule is 30 days 
from the date of publication in the Federal Register during which 
either or both Houses of Congress are in session.

DATES: Effective Date: Under the authority of 12 U.S.C. 2252, the 
regulation amending 12 CFR part 620 published on February 26, 2015 (80 
FR 10325) is effective April 29, 2015.
    Compliance Date: System banks and associations must comply with the 
final rule for compensation reported in the Table for the fiscal year 
ending 2015, and may implement the final rule retroactively for the 
fiscal years ended 2014, 2013, and 2012. However, retroactive 
application is not required, and we would expect footnote disclosure of 
the change in calculation for the fiscal years to which the final rule 
was applied.

FOR FURTHER INFORMATION CONTACT: Michael T. Wilson, Policy Analyst, 
Office of Regulatory Policy, Farm Credit Administration, McLean, VA 
22102-5090, (703) 883-4124, TTY (703) 883-4056, or Jeff Pienta, Senior 
Attorney, Office of General Counsel, Farm Credit Administration, 
McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-4056.

SUPPLEMENTARY INFORMATION: The Farm Credit Administration adopted a 
final rule related to System bank and association disclosures to 
shareholders and investors of senior officer compensation in the 
Summary Compensation Table. Under the final rule, System banks and 
associations are not required to report in the Table the compensation 
of employees who are not senior officers and who would not otherwise be 
considered ``highly compensated employees'' but for the payments 
related to, or change(s) in value of, the employees' qualified pension 
plans, provided that the plans were available to all employees on the 
same basis at the time the employees joined the plans. In accordance 
with 12 U.S.C. 2252, the effective date of the final rule is 30 days 
from the date of publication in the Federal Register during which 
either or both Houses of Congress are in session. Based on the records 
of the sessions of Congress, the effective date of the regulations is 
April 29, 2015.

(12 U.S.C. 2252(a)(9) and (10))

    Dated: May 5, 2015.
Dale L. Aultman,
Secretary, Farm Credit Administration Board.
[FR Doc. 2015-11286 Filed 5-8-15; 8:45 am]
BILLING CODE 6705-01-P

26822 Federal Register / Vol. 80, No. 90 / Monday, May 11, 2015 / Rules and Regulations

Done in Washington, DC, this 6th day of Administration, McLean, VA 22102– registered civil aircraft for a foreign air
May 2015. 5090, (703) 883–4020, TTY (703) 883– carrier; and operators of U.S.-registered
Kevin Shea, 4056. civil aircraft, except when such
Administrator, Animal and Plant Health SUPPLEMENTARY INFORMATION: The Farm operators are foreign air carriers. On
Inspection Service. August 8, 2014, the FAA issued a Notice
Credit Administration adopted a final
[FR Doc. 2015–11311 Filed 5–8–15; 8:45 am] rule related to System bank and to Airmen (NOTAM) prohibiting flight
BILLING CODE 3410–34–P association disclosures to shareholders operations in the ORBB FIR at all
and investors of senior officer altitudes, subject to certain limited
compensation in the Summary exceptions, due to the armed conflict in
FARM CREDIT ADMINISTRATION Compensation Table. Under the final Iraq. This amendment to SFAR No. 77
rule, System banks and associations are incorporates the flight prohibition set
12 CFR Part 620 not required to report in the Table the forth in the August 8, 2014, NOTAM
compensation of employees who are not into the rule. The FAA is also revising
RIN 3052–AD02
senior officers and who would not the approval process for this SFAR for
Disclosure to Shareholders; Pension otherwise be considered ‘‘highly other U.S. Government departments,
Benefit Disclosures compensated employees’’ but for the agencies, and instrumentalities, to align
payments related to, or change(s) in with the approval process established
AGENCY: Farm Credit Administration. for other recently published flight
value of, the employees’ qualified
ACTION: Notice of effective date. pension plans, provided that the plans prohibition SFARs. This final rule will
were available to all employees on the remain in effect for two years.
SUMMARY: The Farm Credit DATES: This final rule is effective May
same basis at the time the employees
Administration (FCA or we) adopted a 11, 2015 through May 11, 2017.
joined the plans. In accordance with 12
final rule related to Farm Credit System
U.S.C. 2252, the effective date of the FOR FURTHER INFORMATION CONTACT: For
(System) bank and association
final rule is 30 days from the date of technical questions about this action,
disclosures to shareholders and
publication in the Federal Register contact Will Gonzalez, Air
investors of senior officer compensation
during which either or both Houses of Transportation Division, AFS–220,
in the Summary Compensation Table
Congress are in session. Based on the Flight Standards Service, Federal
(Table). Under the final rule, System
records of the sessions of Congress, the Aviation Administration, 800
banks and associations are not required
effective date of the regulations is April Independence Avenue SW.,
to report in the Table the compensation
29, 2015. Washington, DC 20591; telephone: 202–
of employees who are not senior officers
(12 U.S.C. 2252(a)(9) and (10)) 267–8166; email: will.gonzalez@faa.gov.
and who would not otherwise be
For legal questions concerning this
considered ‘‘highly compensated Dated: May 5, 2015. action, contact: Robert Frenzel, Office of
employees’’ but for the payments related Dale L. Aultman, the Chief Counsel, AGC–200, Federal
to, or change(s) in value of, the Secretary, Farm Credit Administration Board. Aviation Administration, 800
employees’ qualified pension plans,
[FR Doc. 2015–11286 Filed 5–8–15; 8:45 am] Independence Avenue SW.,
provided that the plans were available
BILLING CODE 6705–01–P Washington, DC 20591; telephone (202)
to all employees on the same basis at the
267–7638, email: robert.frenzel@faa.gov.
time the employees joined the plans. In
accordance with the law, the effective SUPPLEMENTARY INFORMATION:
date of the rule is 30 days from the date DEPARTMENT OF TRANSPORTATION
Good Cause for Immediate Adoption
of publication in the Federal Register Federal Aviation Administration Section 553(b)(3)(B) of title 5, U.S.
during which either or both Houses of
Code, authorizes agencies to dispense
Congress are in session. 14 CFR Part 91 with notice and comment procedures
DATES: Effective Date: Under the for rules when the agency for ‘‘good
authority of 12 U.S.C. 2252, the [Docket No. FAA–2003–14766; Amendment
No. 91–327A; SFAR No. 77] cause’’ finds that those procedures are
regulation amending 12 CFR part 620 ‘‘impracticable, unnecessary, or contrary
published on February 26, 2015 (80 FR RIN 2120–AK60 to the public interest.’’ In this instance,
10325) is effective April 29, 2015. the FAA finds that notice and public
Compliance Date: System banks and Prohibition Against Certain Flights
comment to this immediately adopted
associations must comply with the final Within the Baghdad (ORBB) Flight
final rule, as well as any delay in the
rule for compensation reported in the Information Region (FIR)
effective date of this rule, are
Table for the fiscal year ending 2015, AGENCY: Federal Aviation impracticable and contrary to the public
and may implement the final rule Administration (FAA), Department of interest due to the immediate need to
retroactively for the fiscal years ended Transportation (DOT). address the potential hazard to civil
2014, 2013, and 2012. However, aviation that now exists in the ORBB
ACTION: Final rule.
retroactive application is not required, FIR, as described in the Background
and we would expect footnote SUMMARY: This action amends Special section of this rule.
disclosure of the change in calculation Federal Aviation Regulation (SFAR) No.
for the fiscal years to which the final 77, ‘‘Prohibition Against Certain Flights Authority for This Rulemaking
rule was applied. Within the Territory and Airspace of The FAA is responsible for the safety
FOR FURTHER INFORMATION CONTACT: Iraq,’’ which prohibits certain flight of flight in the U.S. and for the safety
Lhorne on DSK2VPTVN1PROD with RULES

Michael T. Wilson, Policy Analyst, operations in the territory and airspace of U.S. civil operators, U.S.-registered
Office of Regulatory Policy, Farm Credit of Iraq by all United States (U.S.) air civil aircraft, and U.S.-certificated
Administration, McLean, VA 22102– carriers; U.S. commercial operators; airmen throughout the world. The
5090, (703) 883–4124, TTY (703) 883– persons exercising the privileges of a FAA’s authority to issue rules on
4056, or Jeff Pienta, Senior Attorney, U.S. airman certificate, except when aviation safety is found in title 49, U.S.
Office of General Counsel, Farm Credit such persons are operating a U.S.- Code. Subtitle I, section 106(f),

VerDate Sep<11>2014 15:20 May 08, 2015 Jkt 235001 PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 E:\FR\FM\11MYR1.SGM 11MYR1

Document Created: 2018-02-21 10:26:19
Document Modified: 2018-02-21 10:26:19

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Rules and Regulations
Action		Notice of effective date.
Dates		Effective Date: Under the authority of 12 U.S.C. 2252, the regulation amending 12 CFR part 620 published on February 26, 2015 (80 FR 10325) is effective April 29, 2015.
Contact		Michael T. Wilson, Policy Analyst, Office of Regulatory Policy, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4124, TTY (703) 883-4056, or Jeff Pienta, Senior Attorney, Office of General Counsel, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-4056.
FR Citation		80 FR 26822
RIN Number		3052-AD02