Required Interest Rate Assumption for Determining Variable-Rate Premium; Interest on Late Premium Payments; Interest on Underpayments and Overpayments of Single-Employer Plan Termination Liability and Multiemployer Withdrawal Liability; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 60111-60112 [05-20580]
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<![CDATA[
Federal Register / Vol. 70, No. 198 / Friday, October 14, 2005 / Notices
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submission of
responses.
Agency: Employment and Training
Administration (ETA).
Type of Review: New Collection.
Title: Evaluation of State Worker
Profiling Models.
OMB Number: 1205–0NEW.
Frequency: Other; One-time
Collection.
Affected Public: State, local, or tribal
government.
Type of Response: Mandatory.
Number of Respondents: 53.
Annual Responses: 53.
Average Response Time: 32 hours for
survey and data collection.
Total Annual Burden Hours: 1696.
Total Annualized Capital/Startup
Costs: $58,427.
Total Annual Costs (operating/
maintaining systems or purchasing
services): $58,427 (one-time collection).
Description: This project will evaluate
the predictions of State worker profiling
models and develop guidance for
improvement.
Ira L. Mills,
Departmental Clearance Officer.
[FR Doc. 05–20591 Filed 10–13–05; 8:45 am]
BILLING CODE 4510–30–P
NATIONAL AERONAUTICS AND
SPACE ADMINISTRATION
[05–148]
Notice of Information Collection
National Aeronautics and
Space Administration (NASA).
SUMMARY: The National Aeronautics and
Space Administration, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to take this opportunity to
comment on proposed and/or
AGENCY:
VerDate Aug<31>2005
13:54 Oct 13, 2005
Jkt 208001
continuing information collections, as
required by the Paperwork Reduction
Act of 1995 (Pub. L. 104–13, 44 U.S.C.
3506(c)(2)(A)). NASA will utilize the
information collected to determine
whether the Agency’s recruitment
efforts are reaching all segments of the
country.
Comments on this proposal
should be received within 30 calendar
days from the date of this publication.
DATES:
All comments should be
addressed to Desk Officer for NASA;
Office of Information and Regulatory
Affairs; Office of Management and
Budget; Room 10236; New Executive
Office Building; Washington, DC 20503.
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of information collection
instrument(s) and instructions should
be directed to Mr. Walter Kit, NASA
Reports Officer, NASA Headquarters,
300 E Street, SW., Mail Suite 6M70,
Washington, DC 20546, (202) 358–1350,
Walter.Kit-1@nasa.gov.
SUPPLEMENTARY INFORMATION:
I. Abstract
The National Aeronautics and Space
Administration (NASA) is requesting
renewal of an existing collection that is
used to ensure NASA collects racial and
ethnic data information from on-line job
applicants to determine if NASA’s
recruitment efforts are reaching all
segments of the country, as required by
Federal law.
II. Method of Collection
NASA uses electronic methods to
collect information from collection
respondents.
III. Data
Title: NASA Voluntary On-Line Job
Applicant Racial and Ethnic Data.
OMB Number: 2700–0103.
Type of Review: Renewal.
Affected Public: Individuals or
households; Federal government.
Number of Respondents: 40,000.
Responses per Respondent: 5 minutes.
Annual Responses: 40,000.
Hours per Request: 5 min/request.
Annual Burden Hours: 3,334.
Frequency of Report: On occasion.
Estimated Total Annual Cost: $0.
Dated: October 6, 2005.
Patricia L. Dunnington,
Chief Information Officer.
[FR Doc. 05–20561 Filed 10–13–05; 8:45 am]
BILLING CODE 7510–13–P
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60111
NATIONAL SCIENCE FOUNDATION
Notice of Permits Issued Under the
Antarctic Conservation Act of 1978
National Science Foundation.
Notice of permits issued under
the Antarctic Conservation Act of 1978,
Public Law 95–541.
AGENCY:
ACTION:
SUMMARY: The National Science
Foundation (NSF) is required to publish
notice of permits issued under the
Antarctic Conservation Act of 1978.
This is the required notice.
FOR FURTHER INFORMATION CONTACT:
Nadene G. Kennedy, Permit Office,
Office of Polar Programs, Rm. 755,
National Science Foundation, 4201
Wilson Boulevard, Arlington, VA 22230.
SUPPLEMENTARY INFORMATION: On July 15
and July 27, 2005, the National Science
Foundation published notices in the
Federal Register of permit applications
received. Permits were issued on
October 5, 2005 to:
J. Allan Campbell (Permit No. 2006–
017).
George Steinmetz (Permit No. 2006–
020).
Nadene G. Kennedy,
Permit Officer.
[FR Doc. 05–20626 Filed 10–13–05; 8:45 am]
BILLING CODE 7555–01–M
PENSION BENEFIT GUARANTY
CORPORATION
Required Interest Rate Assumption for
Determining Variable-Rate Premium;
Interest on Late Premium Payments;
Interest on Underpayments and
Overpayments of Single-Employer
Plan Termination Liability and
Multiemployer Withdrawal Liability;
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
E:\FR\FM\14OCN1.SGM
14OCN1
60112
Federal Register / Vol. 70, No. 198 / Friday, October 14, 2005 / Notices
under part 4006 applies to premium
payment years beginning in October
2005. The interest assumptions for
performing multiemployer plan
valuations following mass withdrawal
under part 4281 apply to valuation dates
occurring in November 2005. The
interest rates for late premium payments
under part 4007 and for underpayments
and overpayments of single-employer
plan termination liability under part
4062 and multiemployer withdrawal
liability under part 4219 apply to
interest accruing during the fourth
quarter (October through December) of
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
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 October 2005 is 4.62
percent (i.e., 85 percent of the 5.44
percent composite corporate bond rate
for September 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
November 2004 and October 2005.
For premium payment years
beginning in:
The required interest rate is:
November 2004 ........................
December 2004 ........................
January 2005 ............................
VerDate Aug<31>2005
13:54 Oct 13, 2005
4.73
4.75
4.73
Jkt 208001
For premium payment years
beginning in:
February 2005 ..........................
March 2005 ...............................
April 2005 .................................
May 2005 ..................................
June 2005 .................................
July 2005 ..................................
August 2005 .............................
September 2005 .......................
October 2005 ............................
The required interest rate is:
4.66
4.56
4.78
4.72
4.60
4.47
4.56
4.61
4.62
Late Premium Payments;
Underpayments and Overpayments of
Single-Employer Plan Termination
Liability
Section 4007(b) of ERISA and
§ 4007.7(a) of the PBGC’s regulation on
Payment of Premiums (29 CFR part
4007) require the payment of interest on
late premium payments at the rate
established under section 6601 of the
Internal Revenue Code. Similarly,
§ 4062.7 of the PBGC’s regulation on
Liability for Termination of SingleEmployer Plans (29 CFR part 4062)
requires that interest be charged or
credited at the section 6601 rate on
underpayments and overpayments of
employer liability under section 4062 of
ERISA. The section 6601 rate is
established periodically (currently
quarterly) by the Internal Revenue
Service. The rate applicable to the
fourth quarter (October through
December) of 2005, as announced by the
IRS, is 7 percent.
The following table lists the late
payment interest rates for premiums and
employer liability for the specified time
periods:
From—
Through—
4/1/99 ................
4/1/00 ................
4/1/01 ................
7/1/01 ................
1/1/02 ................
1/1/03 ................
10/1/03 ..............
4/1/04 ................
7/1/04 ................
10/1/04 ..............
4/1/05 ................
10/1/05 ..............
3/31/00
3/31/01
6/30/01
12/31/01
12/31/02
9/30/03
3/31/04
6/30/04
9/30/04
3/31/05
9/30/05
12/31/05
Interest rate
(percent)
8
9
8
7
6
5
4
5
4
5
6
7
Underpayments and Overpayments of
Multiemployer Withdrawal Liability
Section 4219.32(b) of the PBGC’s
regulation on Notice, Collection, and
Redetermination of Withdrawal
Liability (29 CFR part 4219) specifies
the rate at which a multiemployer plan
is to charge or credit interest on
underpayments and overpayments of
withdrawal liability under section 4219
of ERISA unless an applicable plan
PO 00000
Frm 00053
Fmt 4703
Sfmt 4703
provision provides otherwise. For
interest accruing during any calendar
quarter, the specified rate is the average
quoted prime rate on short-term
commercial loans for the fifteenth day
(or the next business day if the fifteenth
day is not a business day) of the month
preceding the beginning of the quarter,
as reported by the Board of Governors
of the Federal Reserve System in
Statistical Release H.15 (‘‘Selected
Interest Rates’’). The rate for the fourth
quarter (October through December) of
2005 (i.e., the rate reported for
September 15, 2005) is 6.50 percent.
The following table lists the
withdrawal liability underpayment and
overpayment interest rates for the
specified time periods:
From
10/1/99 ..............
1/1/00 ................
4/1/00 ................
7/1/00 ................
4/1/01 ................
7/1/01 ................
10/1/01 ..............
1/1/02 ................
1/1/03 ................
10/1/03 ..............
10/1/04 ..............
1/1/05 ................
4/1/05 ................
7/1/05 ................
10/1/05 ..............
Through
Interest rate
(percent)
12/31/99
3/31/00
6/30/00
3/31/01
6/30/01
9/30/01
12/31/01
12/31/02
9/30/03
9/30/04
12/31/04
3/31/05
6/30/05
9/30/05
12/31/05
8.25
8.50
8.75
9.50
8.50
7.00
6.50
4.75
4.25
4.00
4.50
5.25
5.50
6.00
6.50
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
November 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 7th day
of October 2005.
Vincent K. Snowbarger,
Deputy Executive Director, Pension Benefit
Guaranty Corporation.
[FR Doc. 05–20580 Filed 10–13–05; 8:45 am]
BILLING CODE 7708–01–P
E:\FR\FM\14OCN1.SGM
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]]>Agencies
[Federal Register Volume 70, Number 198 (Friday, October 14, 2005)]
[Notices]
[Pages 60111-60112]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-20580]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
Required Interest Rate Assumption for Determining Variable-Rate
Premium; Interest on Late Premium Payments; Interest on Underpayments
and Overpayments of Single-Employer Plan Termination Liability and
Multiemployer Withdrawal Liability; 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
[[Page 60112]]
under part 4006 applies to premium payment years beginning in October
2005. The interest assumptions for performing multiemployer plan
valuations following mass withdrawal under part 4281 apply to valuation
dates occurring in November 2005. The interest rates for late premium
payments under part 4007 and for underpayments and overpayments of
single-employer plan termination liability under part 4062 and
multiemployer withdrawal liability under part 4219 apply to interest
accruing during the fourth quarter (October through December) of 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 October 2005 is 4.62 percent
(i.e., 85 percent of the 5.44 percent composite corporate bond rate for
September 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 November 2004 and October 2005.
------------------------------------------------------------------------
The
required
For premium payment years beginning in: interest
rate is:
------------------------------------------------------------------------
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
October 2005............................................... 4.62
------------------------------------------------------------------------
Late Premium Payments; Underpayments and Overpayments of Single-
Employer Plan Termination Liability
Section 4007(b) of ERISA and Sec. 4007.7(a) of the PBGC's
regulation on Payment of Premiums (29 CFR part 4007) require the
payment of interest on late premium payments at the rate established
under section 6601 of the Internal Revenue Code. Similarly, Sec.
4062.7 of the PBGC's regulation on Liability for Termination of Single-
Employer Plans (29 CFR part 4062) requires that interest be charged or
credited at the section 6601 rate on underpayments and overpayments of
employer liability under section 4062 of ERISA. The section 6601 rate
is established periodically (currently quarterly) by the Internal
Revenue Service. The rate applicable to the fourth quarter (October
through December) of 2005, as announced by the IRS, is 7 percent.
The following table lists the late payment interest rates for
premiums and employer liability for the specified time periods:
------------------------------------------------------------------------
Interest
From-- Through-- rate
(percent)
------------------------------------------------------------------------
4/1/99........................................ 3/31/00 8
4/1/00........................................ 3/31/01 9
4/1/01........................................ 6/30/01 8
7/1/01........................................ 12/31/01 7
1/1/02........................................ 12/31/02 6
1/1/03........................................ 9/30/03 5
10/1/03....................................... 3/31/04 4
4/1/04........................................ 6/30/04 5
7/1/04........................................ 9/30/04 4
10/1/04....................................... 3/31/05 5
4/1/05........................................ 9/30/05 6
10/1/05....................................... 12/31/05 7
------------------------------------------------------------------------
Underpayments and Overpayments of Multiemployer Withdrawal Liability
Section 4219.32(b) of the PBGC's regulation on Notice, Collection,
and Redetermination of Withdrawal Liability (29 CFR part 4219)
specifies the rate at which a multiemployer plan is to charge or credit
interest on underpayments and overpayments of withdrawal liability
under section 4219 of ERISA unless an applicable plan provision
provides otherwise. For interest accruing during any calendar quarter,
the specified rate is the average quoted prime rate on short-term
commercial loans for the fifteenth day (or the next business day if the
fifteenth day is not a business day) of the month preceding the
beginning of the quarter, as reported by the Board of Governors of the
Federal Reserve System in Statistical Release H.15 (``Selected Interest
Rates''). The rate for the fourth quarter (October through December) of
2005 (i.e., the rate reported for September 15, 2005) is 6.50 percent.
The following table lists the withdrawal liability underpayment and
overpayment interest rates for the specified time periods:
------------------------------------------------------------------------
Interest
From Through rate
(percent)
------------------------------------------------------------------------
10/1/99....................................... 12/31/99 8.25
1/1/00........................................ 3/31/00 8.50
4/1/00........................................ 6/30/00 8.75
7/1/00........................................ 3/31/01 9.50
4/1/01........................................ 6/30/01 8.50
7/1/01........................................ 9/30/01 7.00
10/1/01....................................... 12/31/01 6.50
1/1/02........................................ 12/31/02 4.75
1/1/03........................................ 9/30/03 4.25
10/1/03....................................... 9/30/04 4.00
10/1/04....................................... 12/31/04 4.50
1/1/05........................................ 3/31/05 5.25
4/1/05........................................ 6/30/05 5.50
7/1/05........................................ 9/30/05 6.00
10/1/05....................................... 12/31/05 6.50
------------------------------------------------------------------------
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 November 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 7th day of October 2005.
Vincent K. Snowbarger,
Deputy Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 05-20580 Filed 10-13-05; 8:45 am]
BILLING CODE 7708-01-P
