Required Interest Rate Assumption for Determining Variable-Rate Premium; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 12757-12758 [05-5009]

Download as PDF Federal Register / Vol. 70, No. 49 / Tuesday, March 15, 2005 / Notices Regulatory guides are not copyrighted, and Commission approval is not required to reproduce them. (5 U.S.C. 552(a)) Dated at Rockville, Maryland, this 4th day of March, 2005. For the U.S. Nuclear Regulatory Commission. Carl J. Paperiello, Director, Office of Nuclear Regulatory Research. [FR Doc. 05–5007 Filed 3–14–05; 8:45 am] BILLING CODE 7590–01–P PACIFIC NORTHWEST ELECTRIC POWER AND CONSERVATION PLANNING COUNCIL Fifth Northwest Electric Power and Conservation Plan Pacific Northwest Electric Power and Conservation Planning Council (Northwest Power and Conservation Council; the Council). ACTION: Notice of adoption of the Fifth Northwest Electric Power and Conservation Plan. AGENCY: SUMMARY: The Pacific Northwest Electric Power Planning and Conservation Act of 1980 (16 U.S.C. 839 et.) (the Power Act) requires the Council to adopt and periodically review and revise a regional power plan, the Northwest Electric Power and Conservation Plan (the power plan). The Council first adopted the power plan in 1983, with significant amendments or complete revisions adopted in 1986, 1991 and 1998. The Council began a review of the power plan in 2002, and in September 2004, the Council released for public review and comment the Draft Fifth Power Plan. During the comment period, the Council held public hearings in each of four Northwest states, as required by the Power Act, engaged in consultations about the power plan with various governments, entities and individuals in the region, and accepted and considered substantial written and oral comments. At the Council public meeting in December 2004 in Portland, Oregon, the Council formally adopted the revised power plan, called the Fifth Northwest Electric Power and Conservation Plan. The revised power plan meets the requirements of the Power Act, which specifies the components the power plan is to have. The Power Act requires the power plan to include among other elements, an energy conservation program, a recommendation for research and development; a methodology for determining quantifiable environmental VerDate jul<14>2003 15:31 Mar 14, 2005 Jkt 205001 costs and benefits; a 20-year demand forecast; a forecast of power resources that the Bonneville Power Administration will need to meet its obligations; an analysis of reserve and reserve reliability requirements; and a surcharge methodology. The plan also includes the Council’s Columbia River Basin Fish and Wildlife Program, developed pursuant to other procedural requirements under the Power Act. The Council followed the adoption of the power plan with a decision at its February 2005 meeting, also in Portland, Oregon, to adopt a Response to Comments and Statement of Basis and Purpose to accompany the final power plan. A pre-publication version of the final power plan is available on the Council’s Web site, at https:// www.nwcouncil.org/energy/powerplan/ draftplan/Default.htm. A formal version will be published in the near future. FOR FURTHER INFORMATION CONTACT: If you would like more information, or assistance in obtaining a copy of the Fifth Power Plan, please contact the Council’s central office. The Council’s address is 851 SW Sixth Avenue, Suite 1100, Portland, Oregon 97204. The Council’s telephone numbers are 503– 222–5161, and 800–452–5161; the Council’s FAX is 503–820–2370, and the Council’s Web site is: https:// www.nwcouncil.org. Stephen L. Crow, Executive Director. [FR Doc. 05–5096 Filed 3–14–05; 8:45 am] BILLING CODE 7905–01–M PENSION BENEFIT GUARANTY CORPORATION Agency Information Collection Activities; OMB Approval Received; Annual Financial and Actuarial Information Reporting Pension Benefit Guaranty Corporation. ACTION: Notice. AGENCY: SUMMARY: In accordance with the Paperwork Reduction Act, this notice announces the Office of Management and Budget’s approval of a collection of information contained in the Pension Benefit Guaranty Corporation’s final rule on Annual Financial and Actuarial Information Reporting. FOR FURTHER INFORMATION CONTACT: James L. Beller, Attorney, Legislative & Regulatory Department, PBGC, 1200 K Street, NW., Washington, DC 20005– 4026; (202) 326–4024. (TTY/TDD users may call the Federal relay service toll- PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 12757 free at 1–800–877–8339 and ask to be connected to (202) 326–4024.) SUPPLEMENTARY INFORMATION: On March 9, 2005, the PBGC published in the Federal Register (70 FR 11540) a final rule amending its regulation on Annual Financial and Actuarial Information Reporting. This rule contains information collection requirements. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. On March 9, 2005, OMB approved the collection of information requirements with respect to this final rule under OMB control number 1212– 0049 (expires February 29, 2008). Issued in Washington, DC, this 10th day of March, 2005. James J. Armbruster, Acting Director, Legislative & Regulatory Department, Pension Benefit Guaranty Corporation. [FR Doc. 05–5066 Filed 3–14–05; 8:45 am] BILLING CODE 7708–01–P PENSION BENEFIT GUARANTY CORPORATION Required Interest Rate Assumption for Determining Variable-Rate Premium; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal Pension Benefit Guaranty Corporation. ACTION: Notice of interest rates and assumptions. AGENCY: SUMMARY: This notice informs the public of the interest rates and assumptions to be used under certain Pension Benefit Guaranty Corporation regulations. These rates and assumptions are published elsewhere (or can be derived from rates published elsewhere), but are collected and published in this notice for the convenience of the public. Interest rates are also published on the PBGC’s Web site (https://www.pbgc.gov). DATES: The required interest rate for determining the variable-rate premium under part 4006 applies to premium payment years beginning in March 2005. The interest assumptions for performing multiemployer plan valuations following mass withdrawal under part 4281 apply to valuation dates occurring in April 2005. FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Attorney, Legislative and Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005, (202) 326–4024. (TTY/TDD users may call the Federal relay service toll-free at E:\FR\FM\15MRN1.SGM 15MRN1 12758 Federal Register / Vol. 70, No. 49 / Tuesday, March 15, 2005 / Notices 1–800–877–8339 and ask to be connected to (202) 326–4024.) SUPPLEMENTARY INFORMATION: Tables showing the assumptions applicable to prior periods are codified in appendix B to 29 CFR part 4044. Variable-Rate Premiums Section 4006(a)(3)(E)(iii)(II) of the Employee Retirement Income Security Act of 1974 (ERISA) and § 4006.4(b)(1) of the PBGC’s regulation on Premium Rates (29 CFR part 4006) prescribe use of an assumed interest rate (the ‘‘required interest rate’’) in determining a single-employer plan’s variable-rate premium. Pursuant to the Pension Funding Equity Act of 2004, for premium payment years beginning in 2004 or 2005, the required interest rate is the ‘‘applicable percentage’’ (currently 85 percent) of the annual rate of interest determined by the Secretary of the Treasury on amounts invested conservatively in long-term investment grade corporate bonds for the month preceding the beginning of the plan year for which premiums are being paid. Thus, the required interest rate to be used in determining variable-rate premiums for premium payment years beginning in March 2005 is 4.56 percent (i.e., 85 percent of the 5.36 percent composite corporate bond rate for February 2005 as determined by the Treasury). The following table lists the required interest rates to be used in determining variable-rate premiums for premium payment years beginning between April 2004 and March 2005. Issued in Washington, DC, on this 9th day of March 2005. Vincent K. Snowbarger, Deputy Executive Director, Pension Benefit Guaranty Corporation. [FR Doc. 05–5009 Filed 3–14–05; 8:45 am] The required interest rate is: For premium payment years beginning in: April 2004 ................................. May 2004 .................................. June 2004 ................................. July 2004 .................................. August 2004 ............................. September 2004 ....................... October 2004 ............................ November 2004 ........................ December 2004 ........................ January 2005 ............................ February 2005 .......................... March 2005 ............................... 4.62 4.98 5.26 5.25 5.10 4.95 4.79 4.73 4.75 4.73 4.66 4.56 Multiemployer Plan Valuations Following Mass Withdrawal The PBGC’s regulation on Duties of Plan Sponsor Following Mass Withdrawal (29 CFR part 4281) prescribes the use of interest assumptions under the PBGC’s regulation on Allocation of Assets in Single-Employer Plans (29 CFR part 4044). The interest assumptions applicable to valuation dates in April 2005 under part 4044 are contained in an amendment to part 4044 published elsewhere in today’s Federal Register. VerDate jul<14>2003 15:31 Mar 14, 2005 Jkt 205001 BILLING CODE 7708–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 1–11568] Issuer Delisting; Notice of Application of DynTek, Inc. To Withdraw Its Common Stock, $.0001 par value, and Series A Convertible Preferred Stock and Warrants, From Listing and Registration on the Boston Stock Exchange, Inc. March 9, 2005. On February 23, 2005, DynTek, Inc. a Delaware corporation (‘‘Issuer’’), filed an application with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 12(d) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 12d2–2(d) thereunder,2 to withdraw its common stock, $.0001 par value, and series A convertible preferred stock and warrants (collectively ‘‘Securities’’), from listing and registration on the Boston Stock Exchange, Inc. (‘‘BSE’’). On February 3, 2005, the Board of Directors (‘‘Board’’) of the Issuer approved resolutions to withdraw the Securities from listing and registration on BSE. The Board stated that the following reasons factored into its decision. In connection with the Issuer’s voluntary withdrawal of Securities from inclusion for trading on Nasdaq SmallCap Market (‘‘Nasdaq’’) on December 15, 2004, the Board determined that such withdrawal was in the best interests of the Issuer and its stockholders, and the Issuer’s current principal market maker has acted to continue to make a market in the Securities on the OTC Bulletin Board. The Issuer believes that its stockholders would be better served by channeling its resources into efforts that will accelerate the profitable growth of the Issuer, and that the ongoing costs, distractions, and uncertainties of the process to maintain a Nasdaq listing for the Issuer at that time was warranted. After the Issuer’s voluntary withdrawal from listing on Nasdaq, the Issuer received a letter PO 00000 1 15 2 17 U.S.C. 78l(d). CFR 240.12d2–2(d). Frm 00114 Fmt 4703 Sfmt 4703 dated December 20, 2004 from BSE requesting additional information regarding the Issuer’s decision to voluntary withdraw from Nasdaq, as well as other information pertaining to the listing of the Securities on BSE. After corresponding with BSE, the Board determined that it is in the best interest of the Issuer and its stockholders to voluntarily withdraw the listing of its Securities from BSE and requested that the Issuer’s current market makers continue to make markets in the Securities on the OTC Bulletin Board. The Issuer stated in its application that it has complied with BSE rules governing the withdrawal of a security from BSE by complying with all applicable laws in effect in the State of Delaware, the state in which the Issuer is incorporated, and by complying with BSE procedures for delisting by filing the required documents governing the withdrawal of a security from listing and registration on BSE. The Issuer’s application relates solely to withdrawal of the Securities from listing on BSE and from registration under Section 12(b) of the Act,3 and shall not affect its obligation to be registered under Section 12(g) of the Act.4 Any interested person may, on or before April 4, 2005, comment on the facts bearing upon whether the application has been made in accordance with the rules of the BSE, and what terms, if any, should be imposed by the Commission for the protection of investors. All comment letters may be submitted by either of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/delist.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include the File Number 1–11568 or; Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549–0609. All submissions should refer to File Number 1–11568. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site 3 15 4 15 E:\FR\FM\15MRN1.SGM U.S.C. 78l(b). U.S.C. 78l(g). 15MRN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 70, Number 49 (Tuesday, March 15, 2005)]
[Notices]
[Pages 12757-12758]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-5009]


-----------------------------------------------------------------------

PENSION BENEFIT GUARANTY CORPORATION


Required Interest Rate Assumption for Determining Variable-Rate 
Premium; Interest Assumptions for Multiemployer Plan Valuations 
Following Mass Withdrawal

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of interest rates and assumptions.

-----------------------------------------------------------------------

SUMMARY: This notice informs the public of the interest rates and 
assumptions to be used under certain Pension Benefit Guaranty 
Corporation regulations. These rates and assumptions are published 
elsewhere (or can be derived from rates published elsewhere), but are 
collected and published in this notice for the convenience of the 
public. Interest rates are also published on the PBGC's Web site 
(https://www.pbgc.gov).

DATES: The required interest rate for determining the variable-rate 
premium under part 4006 applies to premium payment years beginning in 
March 2005. The interest assumptions for performing multiemployer plan 
valuations following mass withdrawal under part 4281 apply to valuation 
dates occurring in April 2005.

FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Attorney, 
Legislative and Regulatory Department, Pension Benefit Guaranty 
Corporation, 1200 K Street, NW., Washington, DC 20005, (202) 326-4024. 
(TTY/TDD users may call the Federal relay service toll-free at

[[Page 12758]]

1-800-877-8339 and ask to be connected to (202) 326-4024.)

SUPPLEMENTARY INFORMATION:

Variable-Rate Premiums

    Section 4006(a)(3)(E)(iii)(II) of the Employee Retirement Income 
Security Act of 1974 (ERISA) and Sec.  4006.4(b)(1) of the PBGC's 
regulation on Premium Rates (29 CFR part 4006) prescribe use of an 
assumed interest rate (the ``required interest rate'') in determining a 
single-employer plan's variable-rate premium. Pursuant to the Pension 
Funding Equity Act of 2004, for premium payment years beginning in 2004 
or 2005, the required interest rate is the ``applicable percentage'' 
(currently 85 percent) of the annual rate of interest determined by the 
Secretary of the Treasury on amounts invested conservatively in long-
term investment grade corporate bonds for the month preceding the 
beginning of the plan year for which premiums are being paid. Thus, the 
required interest rate to be used in determining variable-rate premiums 
for premium payment years beginning in March 2005 is 4.56 percent 
(i.e., 85 percent of the 5.36 percent composite corporate bond rate for 
February 2005 as determined by the Treasury).
    The following table lists the required interest rates to be used in 
determining variable-rate premiums for premium payment years beginning 
between April 2004 and March 2005.

------------------------------------------------------------------------
                                                                 The
                                                               required
          For premium payment years beginning in:              interest
                                                               rate is:
------------------------------------------------------------------------
April 2004.................................................         4.62
May 2004...................................................         4.98
June 2004..................................................         5.26
July 2004..................................................         5.25
August 2004................................................         5.10
September 2004.............................................         4.95
October 2004...............................................         4.79
November 2004..............................................         4.73
December 2004..............................................         4.75
January 2005...............................................         4.73
February 2005..............................................         4.66
March 2005.................................................         4.56
------------------------------------------------------------------------

Multiemployer Plan Valuations Following Mass Withdrawal

    The PBGC's regulation on Duties of Plan Sponsor Following Mass 
Withdrawal (29 CFR part 4281) prescribes the use of interest 
assumptions under the PBGC's regulation on Allocation of Assets in 
Single-Employer Plans (29 CFR part 4044). The interest assumptions 
applicable to valuation dates in April 2005 under part 4044 are 
contained in an amendment to part 4044 published elsewhere in today's 
Federal Register. Tables showing the assumptions applicable to prior 
periods are codified in appendix B to 29 CFR part 4044.

    Issued in Washington, DC, on this 9th day of March 2005.
Vincent K. Snowbarger,
Deputy Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 05-5009 Filed 3-14-05; 8:45 am]
BILLING CODE 7708-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.