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[co-author: Shawn Whites]
Key Points
President Biden’s Day One Executive Order on climate action reconvenes an interagency working group to establish interim and final social costs of three GHGs: carbon dioxide, nitrous oxide and methane.
The social costs of these GHGs seek to quantify the negative externalities on an annual basis of a ton of these emissions.
The Biden administration will use the updated social cost figures to inform federal regulations and major agency actions and to justify aggressive climate action as the United States evolves toward a “100% clean energy” economy with net-zero GHG emissions.
President Biden’s resurrection of a relatively recondite cross-agency group charged with quantifying the nation’s contribution to climate change the Interagency Working Group on the Social Cost of Greenhouse Gases (GHG) (Working Group) ultimately may have the greatest impact across the federal government as the Biden administration pursues its climate goals. The
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On January 7, 2021, the Pension Benefit Guaranty Corporation (“PBGC”) issued final regulations updating its guidance under sections 4211 and 4219 of the Employee Retirement Income Security Act of 1974 (“ERISA”), which govern the calculation of an employer’s withdrawal liability and the payment of that liability, respectively. Specifically, the regulations provide simplified methods for calculating withdrawn employers’ allocable share of the plan’s unfunded vested benefits disregarding certain benefit reductions and contribution increases, as required by law. The final regulations closely follow proposed regulations that PBGC issued on February 6, 2019.
Background
The Pension Protection Act of 2006 (“PPA”) permits plans in critical status to reduce “adjustable benefits”, which most commonly include early retirement subsidies for participants not in pay status and benefit improvements that have been i
Local Navy Contract Awards; December 08-December 30, 2020
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December 31, 2020
WASHINGTON (Dec. 31, 2020) The U.S. Department of Defense recently announced the following contract awards that pertain to local Navy activities.
Contracts For Dec. 8, 2020
L3 Technologies Inc., Salt Lake City, Utah, is awarded a
$15,399,324 modification (P00025) to previously awarded firm-fixed-price contract N00019-18-C-1030. This modification exercises an option to procure 12 AN/SRQ-4 kits and associated components for the MH-60 Common Data Link system. Work will be performed in Salt Lake City, Utah, and is expected to be completed in February 2023. Fiscal 2021 other procurement (Navy) funds in the amount of $15,399,324 will be obligated at time of award, none of which will expire at the end of the fiscal year. The
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