Required Interest Rate Assumption for Determining Variable-Rate Premium for Single-Employer Plans; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 54531-54532 [E6-15313]

Download as PDF jlentini on PROD1PC65 with NOTICES Federal Register / Vol. 71, No. 179 / Friday, September 15, 2006 / Notices Regulatory Guide DG–1161, in that the NRC staff will use its guidance to ensure more focused and consistent review of PRAs as a basis for regulatory decisionmaking for light-water reactors. The NRC intends to update Regulatory Guide 1.200 and its associated SRP Section 19.1, and to develop an additional appendix or revise an existing appendix (as required), to set forth the staff’s position when a new or revised PRA standard or industry program is published. The NRC staff is soliciting comments on Draft Regulatory Guide DG–1161, as well as draft Revision 2 of SRP Section 19.1. Please mention the relevant document identifiers (DG–1161 and/or SRP 19.1) in the subject line of your comments; comments may be accompanied by relevant information or supporting data. Comments submitted in writing or in electronic form will be made available to the public in their entirety through the NRC’s Agencywide Documents Access and Management System (ADAMS). Personal information will not be removed from your comments. You may submit comments by any of the following methods. Mail comments to: Rules and Directives Branch, Office of Administration, U.S. Nuclear Regulatory Commission, Washington, DC 20555– 0001. E-mail comments to: NRCREP@nrc.gov. You may also submit comments via the NRC’s rulemaking Web site at https://ruleforum.llnl.gov. Address questions about our rulemaking Web site to Carol A. Gallagher (301) 415–5905; e-mail CAG@nrc.gov. Hand-deliver comments to: Rules and Directives Branch, Office of Administration, U.S. Nuclear Regulatory Commission, 11555 Rockville Pike, Rockville, Maryland 20852, between 7:30 a.m. and 4:15 p.m. on Federal workdays. Fax comments to: Rules and Directives Branch, Office of Administration, U.S. Nuclear Regulatory Commission at (301) 415–5144. Requests for technical information about Draft Regulatory Guide DG–1161 and/or draft Revision 2 of SRP Section 19.1 may be directed to Ms. Mary T. Drouin, at (301) 415–6675 or MXD@nrc.gov. Comments would be most helpful if received by October 14, 2006. Comments received after that date will be considered if it is practical to do so, but the NRC is able to ensure consideration only for comments received on or before this date. Although a time limit is given, comments and suggestions in connection with items for inclusion in VerDate Aug<31>2005 14:51 Sep 14, 2006 Jkt 208001 guides currently being developed or improvements in all published guides are encouraged at any time. 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The PDR’s mailing address is USNRC PDR, Washington, DC 20555–0001. The PDR can also be reached by telephone at (301) 415–4737 or (800) 397–4205, by fax at (301) 415–3548, and by e-mail to PDR@nrc.gov. Please note that the NRC does not intend to distribute printed copies of either Draft Regulatory Guide DG–1161 or draft Revision 2 of SRP Section 19.1, unless specifically requested on an individual basis with adequate justification. Such requests for single copies of draft or final guides (which may be reproduced) or for placement on an automatic distribution list for single copies of future draft guides in specific divisions should be made in writing to the U.S. Nuclear Regulatory Commission, Washington, DC 20555– 0001, Attention: Reproduction and Distribution Services Section; by e-mail to DISTRIBUTION@nrc.gov; or by fax to (301) 415–2289. Telephone requests cannot be accommodated. 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 8th day of September 2006. PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 54531 For the U.S. Nuclear Regulatory Commission. Farouk Eltawila, Director, Division of Risk Assessment and Special Projects, Office of Nuclear Regulatory Research. [FR Doc. E6–15311 Filed 9–14–06; 8:45 am] BILLING CODE 7590–01–P 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 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 2006. The interest assumptions for performing multiemployer plan valuations following mass withdrawal under part 4281 apply to valuation dates occurring in October 2006. FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Manager, Regulatory and Policy Division, 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 Protection Act of 2006, for premium payment years beginning in 2006 or 2007, the required interest rate is the E:\FR\FM\15SEN1.SGM 15SEN1 54532 Federal Register / Vol. 71, No. 179 / Friday, September 15, 2006 / Notices ‘‘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 (the ‘‘premium payment year’’). Thus, the required interest rate to be used in determining variable-rate premiums for premium payment years beginning in September 2006 is 5.19 percent (i.e., 85 percent of the 6.11 percent composite corporate bond rate for August 2006 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 2005 and September 2006. For premium payment years beginning in: The required interest rate is: October 2005 ........................ November 2005 .................... December 2005 .................... January 2006 ........................ February 2006 ...................... March 2006 ........................... April 2006 ............................. May 2006 .............................. June 2006 ............................. July 2006 .............................. August 2006 ......................... September 2006 ................... 4.62 4.83 4.91 4.86 4.80 4.87 5.01 5.25 5.35 5.36 5.36 5.19 Multiemployer Plan Valuations Following Mass Withdrawal jlentini on PROD1PC65 with NOTICES 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 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 11th day of September 2006. Vincent K. Snowbarger, Interim Director, Pension Benefit Guaranty Corporation. [FR Doc. E6–15313 Filed 9–14–06; 8:45 am] BILLING CODE 7709–01–P VerDate Aug<31>2005 14:51 Sep 14, 2006 Jkt 208001 SECURITIES AND EXCHANGE COMMISSION Proposed Collections; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extensions: Schedule 14D–1F; OMB Control No. 3235–0376; SEC File No. 270–338; Schedule 14D–9F; OMB Control No. 3235–0382; SEC File No. 270–339 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the collections of information summarized below. The Commission plans to submit these existing collections of information to the Office of Management and Budget for approval. Schedule 14D–1F (17 CFR 240.14d– 102) may be used by any person making a cash tender or exchange offer for securities of any issuer incorporated or organized under the laws of Canada or any Canadian province or territory that is a foreign private issuer, where less than 40% of the outstanding class of such issuer’s securities that is the subject of the offer is held by U.S. holders. Schedule 14D–1F is designed to facilitate cross-border transactions in securities of Canadian issuers. The information required to be filed with the Commission is intended to permit verification of compliance with the securities law requirements and assures the public availability of such information. Schedule 14D–1F takes approximately 2 hours per response to prepare and is filed by 5 respondents annually for a total reporting burden of 10 hours. Schedule 14D–9F (17 CFR 240.14d– 103) is used by any issuer incorporated or organized under the laws of Canada or any Canadian province or territory that is a foreign private issuer, or by any director or officer of such issuer, where the issuer is the subject of a cash tender or exchange offer for a class of securities filed on Schedule 14D–1F. The information required to be filed with the Commission is intended to permit verification of compliance with the securities law requirements and assures the public availability of such information. Schedule 14D–9F takes approximately 2 hours per response to prepare and is filed by 5 respondents annually for a total reporting burden of 10 hours. PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 Written comments are invited on: (a) Whether these proposed collections of information are necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by the collections of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: September 6, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–15319 Filed 9–14–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. IC–27478; File No. 812–13022] IDS Life Insurance Company, et al., Notice of Application September 8, 2006. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application for an order pursuant to Section 6(c) of the Investment Company Act of 1940, as amended (‘‘1940 Act’’) granting exemptions from the provisions of Sections 2(a)(32), 22(c) and 27(i)(2)(A) of the 1940 Act and Rule 22c–1 thereunder. AGENCY: Applicants: IDS Life Insurance Company (‘‘IDS Life’’), IDS Life Insurance Company of New York (‘‘IDS Life of New York’’), American Enterprise Life Insurance Company (‘‘American Enterprise Life’’), American Centurion Life Assurance Company (‘‘American Centurion Life’’) (each, an ‘‘Insurance Company’’ and collectively, the ‘‘Insurance Companies’’), Ameriprise Financial Services, Inc.1 (‘‘Ameriprise Financial Services’’), IDS 1 Formerly American Express Financial Advisors Inc. E:\FR\FM\15SEN1.SGM 15SEN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 71, Number 179 (Friday, September 15, 2006)]
[Notices]
[Pages 54531-54532]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-15313]


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

FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Manager, 
Regulatory and Policy Division, 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 
Protection Act of 2006, for premium payment years beginning in 2006 or 
2007, the required interest rate is the

[[Page 54532]]

``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 (the ``premium payment year''). Thus, the 
required interest rate to be used in determining variable-rate premiums 
for premium payment years beginning in September 2006 is 5.19 percent 
(i.e., 85 percent of the 6.11 percent composite corporate bond rate for 
August 2006 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 2005 and September 2006.

------------------------------------------------------------------------
                                                           The required
         For premium payment years beginning in:           interest rate
                                                                is:
------------------------------------------------------------------------
October 2005............................................            4.62
November 2005...........................................            4.83
December 2005...........................................            4.91
January 2006............................................            4.86
February 2006...........................................            4.80
March 2006..............................................            4.87
April 2006..............................................            5.01
May 2006................................................            5.25
June 2006...............................................            5.35
July 2006...............................................            5.36
August 2006.............................................            5.36
September 2006..........................................            5.19
------------------------------------------------------------------------

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 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 11th day of September 2006.
Vincent K. Snowbarger,
Interim Director, Pension Benefit Guaranty Corporation.
[FR Doc. E6-15313 Filed 9-14-06; 8:45 am]
BILLING CODE 7709-01-P

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