Required Interest Rate Assumption for Determining Variable-Rate Premium; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 54590 [05-18327]
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54590
Federal Register / Vol. 70, No. 178 / Thursday, September 15, 2005 / Notices
appropriate arrangements can be made.
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individual at least two working days
prior to the meeting to be advised of any
potential changes to the agenda.
Dated: September 8, 2005.
Michael L. Scott,
Branch Chief, ACRS/ACNW.
[FR Doc. E5–5021 Filed 9–14–05; 8:45 am]
BILLING CODE 7590–01–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 September
2005. The interest assumptions for
performing multiemployer plan
valuations following mass withdrawal
under part 4281 apply to valuation dates
occurring in October 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
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 § 4006.4(b)(1)
of the PBGC’s regulation on Premium
VerDate Aug<18>2005
15:03 Sep 14, 2005
Jkt 205001
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 September 2005 is 4.61
percent (i.e., 85 percent of the 5.42
percent composite corporate bond rate
for August 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
October 2004 and September 2005.
For premium payment years
beginning in:
The interest
rate is:
October 2004 ........................
November 2004 ....................
December 2004 ....................
January 2005 ........................
February 2005 ......................
March 2005 ...........................
April 2005 .............................
May 2005 ..............................
June 2005 .............................
July 2005 ..............................
August 2005 .........................
September 2005 ...................
4.79
4.73
4.75
4.73
4.66
4.56
4.78
4.72
4.60
4.47
4.56
4.61
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 October
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.
PO 00000
Frm 00071
Fmt 4703
Sfmt 4703
Issued in Washington, DC, on this 9th day
of September 2005.
Vincent K. Snowbarger,
Deputy Executive Director, Pension Benefit
Guaranty Corporation.
[FR Doc. 05–18327 Filed 9–14–05; 8:45 am]
BILLING CODE 7708–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
27060; 812–13134]
Marshall Funds, Inc., et al.; Notice of
Application
September 8, 2005.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice of application for an
order under the Investment Company
Act of 1940 (the ‘‘Act’’) under: (i)
Section 6(c) of the Act granting an
exemption from sections 18(f) and 21(b)
of the Act; (ii) section 12(d)(1)(J) of the
Act granting an exemption from sections
12(d)(1)(A) and (B) of the Act; (iii)
sections 6(c) and 17(b) of the Act
granting an exemption from sections
17(a)(1) and 17(a)(3) of the Act; and (iv)
section 17(d) of the Act and rule 17d-1
under the Act to permit certain joint
transactions.
AGENCY:
Summary of Application: Applicants
request an order that would permit
certain registered open-end management
investment companies to participate in
a joint lending and borrowing facility.
Applicants: Marshall Funds, Inc., M&I
Investment Management Corp. (‘‘M&I
Investment Management’’), and
Marshall & Ilsley Trust Company, N.A.
(‘‘M&I Trust’’).
Filing Dates: The application was
filed on November 3, 2004, and
amended on September 8, 2005.
Hearing or Notification of Hearing: An
order granting the application will be
issued unless the Commission orders a
hearing. Interested persons may request
a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on October 4, 2005, and
should be accompanied by proof of
service on the applicants, in the form of
an affidavit or, for lawyers, a certificate
of service. Hearing requests should state
the nature of the writer’s interest, the
reason for the request, and the issues
contested. Persons who wish to be
notified of a hearing may request
notification by writing to the
Commission’s Secretary.
E:\FR\FM\15SEN1.SGM
15SEN1
]]>Agencies
[Federal Register Volume 70, Number 178 (Thursday, September 15, 2005)]
[Notices]
[Page 54590]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-18327]
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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
September 2005. The interest assumptions for performing multiemployer
plan valuations following mass withdrawal under part 4281 apply to
valuation dates occurring in October 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 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 September 2005 is 4.61 percent
(i.e., 85 percent of the 5.42 percent composite corporate bond rate for
August 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 October 2004 and September 2005.
------------------------------------------------------------------------
The interest
For premium payment years beginning in: rate is:
------------------------------------------------------------------------
October 2004............................................ 4.79
November 2004........................................... 4.73
December 2004........................................... 4.75
January 2005............................................ 4.73
February 2005........................................... 4.66
March 2005.............................................. 4.56
April 2005.............................................. 4.78
May 2005................................................ 4.72
June 2005............................................... 4.60
July 2005............................................... 4.47
August 2005............................................. 4.56
September 2005.......................................... 4.61
------------------------------------------------------------------------
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 October 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 September 2005.
Vincent K. Snowbarger,
Deputy Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 05-18327 Filed 9-14-05; 8:45 am]
BILLING CODE 7708-01-P
