Required Interest Rate Assumption for Determining Variable-Rate Premium for Single-Employer Plans; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 34645-34646 [E6-9346]

Download as PDF Federal Register / Vol. 71, No. 115 / Thursday, June 15, 2006 / Notices For additional information, please contact: Thomas B. O’Brien, Jr., General Counsel, at ASTM International, 100 Barr Harbor Drive, West Conshohocken, PA 19428, telephone 610–832–9597, email address tobrien@astm.org. Dorothy B. Fountain, Deputy Director of Operations, Antitrust Division. [FR Doc. 06–5413 Filed 6–14–06; 8:45 am] BILLING CODE 4410–11–M DEPARTMENT OF JUSTICE Antitrust Division jlentini on PROD1PC65 with NOTICES Notice Pursuant to The National Cooperative Research and Production Act of 1993—Open DeviceNet Vendor Association, Inc. Notice is hereby given that, on May 31, 2006, pursuant to Section 6(a) of the National Cooperative Research and Production Act of 1993, 15 U.S.C. 4301 et seq. (‘‘the Act’’), Open DeviceNet Vendor Association, Inc. (‘‘ODVA’’) has filed written notifications simultaneously with the Attorney General and the Federal Trade Commission disclosing changes in its membership. The notifications were filed for the purpose of extending the Act’s provisions limiting the recovery of antitrust plaintiffs to actual damages under specified circumstances. Specifically, ITT Industries, Inc., White Plains, NY; Northwire, Inc., Osceola, WI; Moog, Inc., East Aurora, NY; RFID, Inc., Aurora, CO; AGM Electronics, Inc., Tucson, AZ; N-Tron Corporation, Mobile, AL; Seiko Epson, Nagano-kon, Japan; ARCX, Inc., Toronto, Ontario, Canada; Bird Electronic Corporation, Solon, OH; EIM Controls, Inc., Missouri City, TX; ifak systems GmbH, Magdeburg, Germany; Rockwell Automation, Inc., Milwaukee, WI; ProSoft Technology, Bakersfield, CA; Baldor Electric, Fort Smith, AR; AquaSensors, LLC, Menomonee Falls, WI; and Toyogiken Co., Ltd., Nagano, Japan have been added as parties to this venture. Also, Danaher Motion/Kollmorgen, Radford, VA; DVT Corporation, Duluth, GA; Flexible Machine Controls, Wendywood, South Africa; Intelligent Motion Systems, Marlborough, CT; MKS Instruments, CIT Group, Austin, TX; NSK Precision Co., Ltd., Kanagawa, Japan; Scientific Technologies, Inc., Freemont, CA; Shanghai Aton Electric Co., Ltd., Shanghai, People’s Republic of China; Wind River Systems, Inc., Alameda, CA; and Power-IO, Naperville, IL have withdrawn as parties to this venture. Also, Beckhoff Industrie VerDate Aug<31>2005 15:47 Jun 14, 2006 Jkt 208001 Elektronik has changed its name to Beckhoff Automation GmbH, Nurnberg, Germany. No other changes have been made in either the membership or planned activity of the group research project. Membership in this group research project remains open, and ODVA intends to file additional written notification disclosing all changes in membership. On June 21, 1995, ODVA filed its original notification pursuant to Section 6(a) of the Act. The Department of Justice published a notice in the Federal Register pursuant to Section 6(b) of the Act on February 15, 1996 (61 FR 6039). The last notification was filed with the Department on February 10, 2006. A notice was published in the Federal Register pursuant to Section 6(b) of the Act on March 7, 2006 (71 FR 11453). Dorothy B. Fountain, Deputy Director of Operations, Antitrust Division. [FR Doc. 06–5414 Filed 6–14–06; 8:45 am] BILLING CODE 4410–11–M OVERSEAS PRIVATE INVESTMENT CORPORATION Submission for OMB Review Overseas Private Investment Corporation (OPIC). ACTION: Request for comments. AGENCY: SUMMARY: Under the provision of the Paperwork Reduction Act (44 U.S.C. chapter 35), agencies are required to publish a Notice in the Federal Register notifying the public, that the Agency is preparing an information collection request for OMB review, approval, and request public review and comment on the submission. Comments are being solicited on the need for the information; the accuracy of the Agency’s burden estimate; the quality, practical utility and clarity of the information to be collected; and ways to minimize the reporting burden, including automated collection techniques by use of other forms of technology. The proposed form under review is summarized below. DATES: Comments must be received by July 17, 2006. ADDRESSES: Copies of the subject form and the request for review prepared for submission to OMB may be obtained from the Agency submitting officer. Comments on the form should be submitted to the Agency Submitting Officer. FOR FURTHER INFORMATION CONTACT: OPIC Agency Submitting Officer: Essie PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 34645 S. Bryant, Records Management Officer, Overseas Private Investment Corporation, 1100 New York Avenue, NW., Washington, DC 20527; 202–336– 8563. OMB Contact: Office of Information and Regulatory Affairs, U.S. Office of Information and Regulator Affairs, Office of Management and Budget, Attention: Mr. David Rostker, 725 17th Street, Room 10102, NW., Washington, DC 20503; (202) 395–3897. Summary Form Under Review Type of Request: Renewal/Revision. Title: Expedited Screening Questionnaire On-Lending Transactions. Form Number: OPIC–168 (a & b). Frequency of Use: Once per investor per project. Type of Respondents: Business or other institution (except farms); individuals. Description of Affected Public: U.S. companies or citizens investing overseas. Reporting Hours: 4.0 hours per project. Number of Responses: 300 per year. Federal Cost: $17,000 per year. Authority for Information Collection: Sections 231, 234(a), 239(d), and 240A of the Foreign Assistance Act of 1961, as amended. Abstract (Needs and Uses): The application is the principal document used by OPIC to determine the investor’s and the project’s eligibility for debt financing, assess the environmental impact and developmental effects of the project, measure the economic effects for the U.S. and the host country’s economy, and collect information for underwriting analysis. Dated: June 8, 2006. Eli Landy, Senior Counsel for Administrative Law, Department of Legal Affairs. [FR Doc. 06–5433 Filed 6–14–06; 8:45 am] BILLING CODE 3210–01–M PENSION BENEFIT GUARANTY CORPORATION Required Interest Rate Assumption for Determining Variable-Rate Premium for Single-Employer Plans; 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 E:\FR\FM\15JNN1.SGM 15JNN1 34646 Federal Register / Vol. 71, No. 115 / Thursday, June 15, 2006 / Notices jlentini on PROD1PC65 with NOTICES 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 June 2006. The interest assumptions for performing multiemployer plan valuations following mass withdrawal under part 4281 apply to valuation dates occurring in July 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 § 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. The required interest rate is the ‘‘applicable percentage’’ (currently 85 percent) of the annual yield on 30year Treasury securities for the month preceding the beginning of the plan year for which premiums are being paid (the ‘‘premium payment year’’). The required interest rate to be used in determining variable-rate premiums for premium payment years beginning in June 2006 is 4.42 percent (i.e., 85 percent of the 5.20 percent Treasury Securities Rate for May 2006). The Pension Funding Equity Act of 2004 (‘‘PFEA’’)—under which the required interest rate is 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—applies only for premium payment years beginning in 2004 or 2005. Congress is considering legislation that would extend the PFEA rate for one more year. If legislation that changes the rules for determining the required interest rate for plan years beginning in June 2006 is adopted, the VerDate Aug<31>2005 15:47 Jun 14, 2006 Jkt 208001 PBGC will promptly publish a Federal Register notice with the new rate. The following table lists the required interest rates to be used in determining variable-rate premiums for premium payment years beginning between July 2005 and June 2006. For premium payment years beginning in: July 2005 .............................. August 2005 ......................... September 2005 ................... October 2005 ........................ November 2005 .................... December 2005 .................... January 2006 ........................ February 2006 ...................... March 2006 ........................... April 2006 ............................. May 2006 .............................. June 2005 ............................. 2006, the American Stock Exchange LLC (‘‘Amex’’ or ‘‘Exchange’’) submitted to the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by Amex. Amex filed the proposed rule change as a ‘‘nonThe required controversial’’ rule change pursuant to interest rate is: Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6) thereunder,4 which renders 4.47 it effective upon filing with the 4.56 4.61 Commission. The Commission is 4.62 publishing this notice to solicit 4.83 comments on the proposed rule change 4.91 from interested persons. 3.95 3.90 3.89 4.02 4.30 4.42 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 June 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 8th day of June 2006. Vincent K. Snowbarger, Acting Executive Director, Pension Benefit Guaranty Corporation. [FR Doc. E6–9346 Filed 6–14–06; 8:45 am] I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Amex proposes to extend for an additional twelve-month period ending June 30, 2007, the Exchange’s pilot program for odd-lot execution procedures for Nasdaq securities traded on the Exchange pursuant to unlisted trading privileges. There is no proposed new rule text. Amex is making no changes to the pilot program as it currently operates, other than extending it through June 30, 2007.5 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, Amex included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. Amex has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. BILLING CODE 7709–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53956; File No. SR–Amex– 2006–55] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Odd-Lots in Nasdaq Securities Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on May 25, 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00058 1. Purpose The Commission approved, and the Exchange implemented, a pilot program for odd-lot order 6 executions in Nasdaq securities transacted on the Exchange pursuant to unlisted trading privileges.7 3 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 5 Telephone conversation between Sudhir Bhattacharyya, Assistant General Counsel, and Mia Zur, Special Counsel, Division of Market Regulation, Commission, on June 7, 2006. 6 An odd-lot order is an order for less than 100 shares. 7 See Commentary .05 of Amex Rule 205, which describes the manner of executing odd-lot orders in general, and which for Nasdaq securities, references 4 17 June 7, 2006. 1 15 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Fmt 4703 Sfmt 4703 E:\FR\FM\15JNN1.SGM 15JNN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 71, Number 115 (Thursday, June 15, 2006)]
[Notices]
[Pages 34645-34646]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-9346]


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PENSION BENEFIT GUARANTY CORPORATION


Required Interest Rate Assumption for Determining Variable-Rate 
Premium for Single-Employer Plans; 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

[[Page 34646]]

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 
June 2006. The interest assumptions for performing multiemployer plan 
valuations following mass withdrawal under part 4281 apply to valuation 
dates occurring in July 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. The required interest 
rate is the ``applicable percentage'' (currently 85 percent) of the 
annual yield on 30-year Treasury securities for the month preceding the 
beginning of the plan year for which premiums are being paid (the 
``premium payment year''). The required interest rate to be used in 
determining variable-rate premiums for premium payment years beginning 
in June 2006 is 4.42 percent (i.e., 85 percent of the 5.20 percent 
Treasury Securities Rate for May 2006).
    The Pension Funding Equity Act of 2004 (``PFEA'')--under which the 
required interest rate is 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--applies only for premium payment years beginning in 2004 or 
2005. Congress is considering legislation that would extend the PFEA 
rate for one more year. If legislation that changes the rules for 
determining the required interest rate for plan years beginning in June 
2006 is adopted, the PBGC will promptly publish a Federal Register 
notice with the new rate.
    The following table lists the required interest rates to be used in 
determining variable-rate premiums for premium payment years beginning 
between July 2005 and June 2006.

------------------------------------------------------------------------
                                                           The required
         For premium payment years beginning in:           interest rate
                                                                is:
------------------------------------------------------------------------
July 2005...............................................            4.47
August 2005.............................................            4.56
September 2005..........................................            4.61
October 2005............................................            4.62
November 2005...........................................            4.83
December 2005...........................................            4.91
January 2006............................................            3.95
February 2006...........................................            3.90
March 2006..............................................            3.89
April 2006..............................................            4.02
May 2006................................................            4.30
June 2005...............................................            4.42
------------------------------------------------------------------------

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 June 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 8th day of June 2006.
Vincent K. Snowbarger,
Acting Executive Director, Pension Benefit Guaranty Corporation.
 [FR Doc. E6-9346 Filed 6-14-06; 8:45 am]
BILLING CODE 7709-01-P

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