Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 38597-38598 [2017-17075]
Download as PDF
<![CDATA[
Federal Register / Vol. 82, No. 156 / Tuesday, August 15, 2017 / Rules and Regulations
or the blend in paragraph (a)(2) of this
section.
PENSION BENEFIT GUARANTY
CORPORATION
(2) The additive or a safflower oil
blend containing the additive for use in
animal food meets the following
specifications:
(i) Crude fat content of the GLA
safflower oil or its blend is not less than
99.5 percent.
(ii) GLA content is between 400 and
450 milligrams (mg) GLA per gram of
the GLA safflower oil or its blend.
(i) Addition of the oil or its blend
cannot provide more than 36 mg GLA
per kilogram body weight of the dog per
day in more than 86 mg of the GLA
safflower oil or its blend. This
maximum addition rate of the GLA
safflower oil, or its blend, is 0.3 percent
of a complete dry adult maintenance
dog food containing 3,600 kilocalories
of metabolizable energy per kilogram of
food as-fed.
(ii) Adjustments must be made for dog
food formulas of different caloric
density and/or that are fed to specific
weights, breeds, or dogs of different
activity levels to meet the requirements
of this paragraph.
(b) To assure safe use of the additive,
in addition to other information
required by the Federal Food, Drug, and
Cosmetic Act, the label and labeling of
the additive shall bear the following:
(1) The name, gamma-linolenic acid
(GLA) safflower oil.
(2) A guarantee for the minimum
content of gamma-linolenic acid.
(3) Adequate directions for use such
that the finished animal food complies
with the provisions of paragraph (a)(3)
of this section.
jstallworth on DSKBBY8HB2PROD with RULES
BILLING CODE 4164–01–P
VerDate Sep<11>2014
17:13 Aug 14, 2017
Jkt 241001
Pension Benefit Guaranty
Corporation.
AGENCY:
Final rule.
This final rule amends the
Pension Benefit Guaranty Corporation’s
regulation on Benefits Payable in
Terminated Single-Employer Plans to
prescribe interest assumptions under
the regulation for valuation dates in
September 2017. The interest
assumptions are used for paying
benefits under terminating singleemployer plans covered by the pension
insurance system administered by
PBGC.
SUMMARY:
(3) Addition of GLA safflower oil, or
its blend, to complete dry adult
maintenance dog food must meet the
following:
[FR Doc. 2017–17214 Filed 8–14–17; 8:45 am]
Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions
for Paying Benefits
ACTION:
(iii) Total content of stearidonic acid
and cis, cis-6,9-octadecadienoic acid in
the GLA safflower oil or its blend must
not exceed a total of 0.3 percent.
Dated: August 4, 2017.
Anna K. Abram,
Deputy Commissioner for Policy, Planning,
Legislation, and Analysis.
29 CFR Part 4022
DATES:
Effective September 1, 2017.
FOR FURTHER INFORMATION CONTACT:
Deborah C. Murphy (Murphy.Deborah@
pbgc.gov), Assistant General Counsel for
Regulatory Affairs, Pension Benefit
Guaranty Corporation, 1200 K Street
NW., Washington, DC 20005, 202–326–
4400 ext. 3451. (TTY/TDD users may
call the Federal relay service toll-free at
1–800–877–8339 and ask to be
connected to 202–326–4400, ext. 3451.)
PBGC’s
regulation on Benefits Payable in
Terminated Single-Employer Plans (29
CFR part 4022) prescribes actuarial
assumptions—including interest
assumptions—for paying plan benefits
under terminated single-employer plans
covered by title IV of the Employee
Retirement Income Security Act of 1974.
The interest assumptions in the
regulation are also published on PBGC’s
Web site (https://www.pbgc.gov).
PBGC uses the interest assumptions in
Appendix B to part 4022 to determine
whether a benefit is payable as a lump
sum and to determine the amount to
pay. Appendix C to part 4022 contains
interest assumptions for private-sector
pension practitioners to refer to if they
wish to use lump-sum interest rates
determined using PBGC’s historical
methodology. Currently, the rates in
Appendices B and C of the benefit
payment regulation are the same.
The interest assumptions are intended
to reflect current conditions in the
financial and annuity markets.
Assumptions under the benefit
payments regulation are updated
monthly. This final rule updates the
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00007
Fmt 4700
Sfmt 4700
38597
benefit payments interest assumptions
for September 2017.1
The September 2017 interest
assumptions under the benefit payments
regulation will be 1.00 percent for the
period during which a benefit is in pay
status and 4.00 percent during any years
preceding the benefit’s placement in pay
status. In comparison with the interest
assumptions in effect for August 2017,
these assumptions represent an increase
of 0.25 percent in the immediate rate
and are otherwise unchanged.
PBGC has determined that notice and
public comment on this amendment are
impracticable and contrary to the public
interest. This finding is based on the
need to determine and issue new
interest assumptions promptly so that
the assumptions can reflect current
market conditions as accurately as
possible.
Because of the need to provide
immediate guidance for the payment of
benefits under plans with valuation
dates during September 2017, PBGC
finds that good cause exists for making
the assumptions set forth in this
amendment effective less than 30 days
after publication.
PBGC has determined that this action
is not a ‘‘significant regulatory action’’
under the criteria set forth in Executive
Order 12866.
Because no general notice of proposed
rulemaking is required for this
amendment, the Regulatory Flexibility
Act of 1980 does not apply. See 5 U.S.C.
601(2).
List of Subjects in 29 CFR Part 4022
Employee benefit plans, Pension
insurance, Pensions, Reporting and
recordkeeping requirements.
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
1. The authority citation for part 4022
continues to read as follows:
■
Authority: 29 U.S.C. 1302, 1322, 1322b,
1341(c)(3)(D), and 1344.
2. In Appendix B to part 4022, Rate
Set 287, as set forth below, is added to
the table.
■
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
*
*
*
*
*
1 Appendix B to PBGC’s regulation on Allocation
of Assets in Single-Employer Plans (29 CFR part
4044) prescribes interest assumptions for valuing
benefits under terminating covered single-employer
plans for purposes of allocation of assets under
ERISA section 4044. Those assumptions are
updated quarterly.
E:\FR\FM\15AUR1.SGM
15AUR1
38598
Federal Register / Vol. 82, No. 156 / Tuesday, August 15, 2017 / Rules and Regulations
For plans with a valuation
date
Rate set
On or after
*
Before
*
287
10–1–17
3. In Appendix C to part 4022, Rate
Set 287, as set forth below, is added to
the table.
■
For plans with a valuation
date
On or after
*
Before
*
BILLING CODE 7709–02–P
DEPARTMENT OF HOMELAND
SECURITY
[Docket Number USCG–2017–0710]
RIN 1625–AA08
Special Local Regulation; Mobile River,
Mobile, AL
Coast Guard, DHS.
ACTION: Temporary final rule.
AGENCY:
The Coast Guard is
establishing a temporary special local
regulation on the Mobile River, Mobile,
AL. The special local regulation is
needed to protect the persons
participating in the Rubber Ducky
Regatta marine event. This rule restricts
transit into, through, and within the
regulated area unless specifically
authorized by the Captain of the Port
Mobile.
jstallworth on DSKBBY8HB2PROD with RULES
SUMMARY:
This rule is effective from 9 a.m.
until 1 p.m. on August 26, 2017.
ADDRESSES: To view documents
mentioned in this preamble as being
available in the docket, go to https://
www.regulations.gov, type USCG–2017–
0710 in the ‘‘SEARCH’’ box and click
‘‘SEARCH.’’ Click on Open Docket
Jkt 241001
n1
*
4.00
*
Immediate
annuity rate
(percent)
1.00
*
n2
*
7
8
n1
n2
*
Deferred annuities
(percent)
i1
i2
*
4.00
i3
4.00
*
CFR Code of Federal Regulations
COTP Captain of the Port Mobile
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of proposed rulemaking
PATCOM Patrol Commander
§ Section
U.S.C. United States Code
33 CFR Part 100
17:13 Aug 14, 2017
*
I. Table of Abbreviations
Coast Guard
DATES:
4.00
Folder on the line associated with this
rule.
FOR FURTHER INFORMATION CONTACT: If
you have questions on this rule, call or
email LT Kyle D. Berry, Sector Mobile,
Waterways Management Division, U.S.
Coast Guard; telephone 251–441–5940,
email kyle.d.berry@uscg.mil.
SUPPLEMENTARY INFORMATION:
[FR Doc. 2017–17075 Filed 8–14–17; 8:45 am]
VerDate Sep<11>2014
*
10–1–17
Issued in Washington, DC.
Deborah Chase Murphy,
Assistant General Counsel for Regulatory
Affairs, Pension Benefit Guaranty
Corporation.
i3
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
*
9–1–17
i2
*
4.00
1.00
*
287
i1
*
9–1–17
Rate set
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
II. Background Information and
Regulatory History
The Coast Guard is issuing this
temporary rule without prior notice and
opportunity to comment pursuant to
authority under section 4(a) of the
Administrative Procedure Act (APA) (5
U.S.C. 553(b)). This provision
authorizes an agency to issue a rule
without prior notice and opportunity to
comment when the agency for good
cause finds that those procedures are
‘‘impracticable, unnecessary, or contrary
to the public interest.’’ Under 5 U.S.C.
553(b)(B), the Coast Guard finds that
good cause exists for not publishing a
notice of proposed rulemaking (NPRM)
with respect to this rule because it is
impracticable. We did not receive notice
of the event until July 13, 2017. After a
thorough review of the details for this
event, including the number of
anticipated spectators, the Coast Guard
determined that a special local
regulation was needed to protect
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
*
4.00
*
7
8
persons and property in the vicinity of
the area from potential hazards present
with the Rubber Ducky Regatta marine
event on this navigable waterway. This
special local regulation must be
established by August 26, 2017 and we
lack sufficient time to provide a
reasonable comment period and then
consider those comments before issuing
the rule.
We are issuing this rule, and under 5
U.S.C. 553(d)(3), the Coast Guard finds
that good cause exists for making it
effective less than 30 days after
publication in the Federal Register.
Delaying the effective date of this rule
would be contrary to public interest
because immediate action is needed to
respond to the potential safety hazards
associated with this event.
III. Legal Authority and Need for Rule
The Coast Guard is issuing this rule
under authority in 33 U.S.C. 1233. The
Captain of the Port Mobile (COTP) has
determined that potential hazards
associated with the marine event on
August 26, 2017 will be a safety concern
for anyone within the area of the Mobile
River, Mobile, AL encompassing a halfmile radius of a point near 30°41′24.8″
N., 88°2′12.9″ W. This rule is needed to
protect participants, spectators, and
other persons and vessels during the
marine event on navigable waters.
IV. Discussion of the Rule
This rule establishes a special local
regulation on August 26, 2017, which
will be enforced between the hours of 9
a.m. and 1 p.m. The special local
regulation takes place on the Mobile
River, Mobile AL, encompassing a halfmile radius of a point at approximate
location 30°41′24.8″ N., 88°2′12.9″ W.
E:\FR\FM\15AUR1.SGM
15AUR1
]]>Agencies
[Federal Register Volume 82, Number 156 (Tuesday, August 15, 2017)]
[Rules and Regulations]
[Pages 38597-38598]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-17075]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
29 CFR Part 4022
Benefits Payable in Terminated Single-Employer Plans; Interest
Assumptions for Paying Benefits
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: This final rule amends the Pension Benefit Guaranty
Corporation's regulation on Benefits Payable in Terminated Single-
Employer Plans to prescribe interest assumptions under the regulation
for valuation dates in September 2017. The interest assumptions are
used for paying benefits under terminating single-employer plans
covered by the pension insurance system administered by PBGC.
DATES: Effective September 1, 2017.
FOR FURTHER INFORMATION CONTACT: Deborah C. Murphy
(Murphy.Deborah@pbgc.gov), Assistant General Counsel for Regulatory
Affairs, Pension Benefit Guaranty Corporation, 1200 K Street NW.,
Washington, DC 20005, 202-326-4400 ext. 3451. (TTY/TDD users may call
the Federal relay service toll-free at 1-800-877-8339 and ask to be
connected to 202-326-4400, ext. 3451.)
SUPPLEMENTARY INFORMATION: PBGC's regulation on Benefits Payable in
Terminated Single-Employer Plans (29 CFR part 4022) prescribes
actuarial assumptions--including interest assumptions--for paying plan
benefits under terminated single-employer plans covered by title IV of
the Employee Retirement Income Security Act of 1974. The interest
assumptions in the regulation are also published on PBGC's Web site
(https://www.pbgc.gov).
PBGC uses the interest assumptions in Appendix B to part 4022 to
determine whether a benefit is payable as a lump sum and to determine
the amount to pay. Appendix C to part 4022 contains interest
assumptions for private-sector pension practitioners to refer to if
they wish to use lump-sum interest rates determined using PBGC's
historical methodology. Currently, the rates in Appendices B and C of
the benefit payment regulation are the same.
The interest assumptions are intended to reflect current conditions
in the financial and annuity markets. Assumptions under the benefit
payments regulation are updated monthly. This final rule updates the
benefit payments interest assumptions for September 2017.\1\
---------------------------------------------------------------------------
\1\ Appendix B to PBGC's regulation on Allocation of Assets in
Single-Employer Plans (29 CFR part 4044) prescribes interest
assumptions for valuing benefits under terminating covered single-
employer plans for purposes of allocation of assets under ERISA
section 4044. Those assumptions are updated quarterly.
---------------------------------------------------------------------------
The September 2017 interest assumptions under the benefit payments
regulation will be 1.00 percent for the period during which a benefit
is in pay status and 4.00 percent during any years preceding the
benefit's placement in pay status. In comparison with the interest
assumptions in effect for August 2017, these assumptions represent an
increase of 0.25 percent in the immediate rate and are otherwise
unchanged.
PBGC has determined that notice and public comment on this
amendment are impracticable and contrary to the public interest. This
finding is based on the need to determine and issue new interest
assumptions promptly so that the assumptions can reflect current market
conditions as accurately as possible.
Because of the need to provide immediate guidance for the payment
of benefits under plans with valuation dates during September 2017,
PBGC finds that good cause exists for making the assumptions set forth
in this amendment effective less than 30 days after publication.
PBGC has determined that this action is not a ``significant
regulatory action'' under the criteria set forth in Executive Order
12866.
Because no general notice of proposed rulemaking is required for
this amendment, the Regulatory Flexibility Act of 1980 does not apply.
See 5 U.S.C. 601(2).
List of Subjects in 29 CFR Part 4022
Employee benefit plans, Pension insurance, Pensions, Reporting and
recordkeeping requirements.
In consideration of the foregoing, 29 CFR part 4022 is amended as
follows:
PART 4022--BENEFITS PAYABLE IN TERMINATED SINGLE-EMPLOYER PLANS
0
1. The authority citation for part 4022 continues to read as follows:
Authority: 29 U.S.C. 1302, 1322, 1322b, 1341(c)(3)(D), and
1344.
0
2. In Appendix B to part 4022, Rate Set 287, as set forth below, is
added to the table.
Appendix B to Part 4022--Lump Sum Interest Rates for PBGC Payments
* * * * *
[[Page 38598]]
--------------------------------------------------------------------------------------------------------------------------------------------------------
For plans with a valuation date Immediate Deferred annuities (percent)
Rate set ---------------------------------- annuity rate ------------------------------------------------------------------------------------
On or after Before (percent) i i i n n
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
287 9-1-17 10-1-17 1.00 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In Appendix C to part 4022, Rate Set 287, as set forth below, is
added to the table.
Appendix C to Part 4022--Lump Sum Interest Rates for Private-Sector
Payments
* * * * *
--------------------------------------------------------------------------------------------------------------------------------------------------------
For plans with a valuation date Immediate Deferred annuities (percent)
Rate set ---------------------------------- annuity rate ------------------------------------------------------------------------------------
On or after Before (percent) i i i n n
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
287 9-1-17 10-1-17 1.00 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC.
Deborah Chase Murphy,
Assistant General Counsel for Regulatory Affairs, Pension Benefit
Guaranty Corporation.
[FR Doc. 2017-17075 Filed 8-14-17; 8:45 am]
BILLING CODE 7709-02-P
