Required Interest Rate Assumption for Determining Variable-Rate Premium; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 74380 [05-24089]

Download as PDF 74380 Federal Register / Vol. 70, No. 240 / Thursday, December 15, 2005 / Notices significantly affected. Therefore, the publication of a notice of proposed action and an opportunity for hearing or a notice of hearing is not warranted. Notice is hereby given of the right of interested persons to request a hearing on whether the action should be rescinded or modified. Also in connection with this action, the Commission determined that the action could be classified as a Categorical Exemption under 10 CFR 51.22(c)(11). Further Information The NRC has prepared a Safety Evaluation Report (SER) that documents the information that was reviewed and NRC’s conclusion. In accordance with 10 CFR 2.390 of NRC’s ‘‘Rules of Practice,’’ final NRC records and documents regarding this proposed action including the amendment request dated September 15, 2004, and the SER are publically available in the records component of NRC’s Agencywide Documents Access and Management System (ADAMS). These documents may be inspected at NRC’s Public Electronic Reading Room on the Internet at https://www.nrc.gov/reading-rm/ adams.html. These documents may also be viewed electronically on the public computers, located at the NRC Public Document Room (PDC), O1F21, One White Flint North, 11555 Rockville Pike, Rockville, MD 20852. The PDR reproduction contractor will copy document for a fee. Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS, should contact the NRC PDR Reference staff by telephone at 1–800–397–4209 or (301) 415–4737, or by e-mail to pdr@nrc.gov. Dated at Rockville, Maryland, this 5th day of December 2005. For the Nuclear Regulatory Commission. Jill S. Caverly, Project Manager, Licensing Section, Spent Fuel Project Office, Office of Nuclear Material Safety and Safeguards. [FR Doc. E5–7389 Filed 12–14–05; 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: VerDate Aug<31>2005 17:24 Dec 14, 2005 Jkt 208001 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). The required interest rate for determining the variable-rate premium under part 4006 applies to premium payment years beginning in December 2005. The interest assumptions for performing multiemployer plan valuations following mass withdrawal under part 4281 apply to valuation dates occurring in January 2006. DATES: 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 December 2005 is 4.91 percent (i.e., 85 percent of the 5.78 percent composite corporate bond rate for November 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 January 2005 and December 2005. PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 For premium payment years beginning in: The required interest rate is: January 2005 ........................ February 2005 ...................... March 2005 ........................... April 2005 ............................. May 2005 .............................. June 2005 ............................. July 2005 .............................. August 2005 ......................... September 2005 ................... October 2005 ........................ November 2005 .................... December 2005 .................... 4.73 4.66 4.56 4.78 4.72 4.60 4.47 4.56 4.61 4.62 4.83 4.91 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 January 2006 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 12th day of December 2005. Vincent K. Snowbarger, Deputy Executive Director, Pension Benefit Guaranty Corporation. [FR Doc. 05–24089 Filed 12–14–05; 8:45 am] BILLING CODE 7708–01–P SECURITIES AND EXCHANGE COMMISSION Issuer Delisting; Notice of Application of Rockwell Automation, Inc., To Withdraw Its Common Stock, $1.00 Par Value, (Including the Associated Preferred Share Purchase Rights) From Listing and Registration on the Pacific Exchange, Inc. File No. 1–12383 December 8, 2005. On December 1, 2005, Rockwell Automation, 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, $1.00 par value (including the associated Preferred Share Purchase Rights) (‘‘Security’’), from listing and 1 15 2 17 E:\FR\FM\15DEN1.SGM U.S.C. 78l(d). CFR 240.12d2–2(d). 15DEN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 70, Number 240 (Thursday, December 15, 2005)]
[Notices]
[Page 74380]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-24089]


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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 
December 2005. The interest assumptions for performing multiemployer 
plan valuations following mass withdrawal under part 4281 apply to 
valuation dates occurring in January 2006.

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 December 2005 is 4.91 percent 
(i.e., 85 percent of the 5.78 percent composite corporate bond rate for 
November 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 January 2005 and December 2005.

------------------------------------------------------------------------
                                                           The required
         For premium payment years beginning in:           interest rate
                                                                is:
------------------------------------------------------------------------
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
November 2005...........................................            4.83
December 2005...........................................            4.91
------------------------------------------------------------------------

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 January 2006 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 12th day of December 2005.
Vincent K. Snowbarger,
Deputy Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 05-24089 Filed 12-14-05; 8:45 am]
BILLING CODE 7708-01-P

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