Section 411(d)(6) Protected Benefits; Correction, 55108-55109 [06-7864]

Download as PDF 55108 Federal Register / Vol. 71, No. 183 / Thursday, September 21, 2006 / Rules and Regulations paragraphs (a)(1), (a)(3)(iii), (a)(4), or (a)(5) and (a)(6), respectively, of this section does not apply to the indicated species that were harvested, landed ashore, and sold prior to the effective date of the closure and were held in cold storage by a dealer or processor. * * * * * I 11. In § 622.44, paragraphs (c)(2), (c)(3), (c)(4), and (c)(5) are revised to read as follows: § 622.44 Commercial trip limits. rmajette on PROD1PC67 with RULES1 * * * * * (c) * * * (2) Golden tilefish. (i) Until 75 percent of the fishing year quota specified in § 622.42(e)(2) is reached—4,000 lb (1,814 kg). (ii) After 75 percent of the fishing year quota specified in § 622.42(e)(2) is reached—300 lb (136 kg). However, if 75 percent of the fishing year quota has not been taken on or before September 1, the trip limit will not be reduced. The Assistant Administrator, by filing a notification of trip limit change with the Office of the Federal Register, will effect a trip limit change specified in this paragraph, (c)(2)(ii), when the applicable conditions have been taken. (iii) See § 622.43(a)(5) for the limitations regarding golden tilefish after the fishing year quota is reached. (3) Snowy grouper. (i) During the 2006 fishing year, until the quota specified in § 622.42(e)(1)(i) is reached—275 lb (125 kg). (ii) During the 2007 fishing year, until the quota specified in § 622.42(e)(1)(ii) is reached—175 lb (79 kg). (iii) During the 2008 and subsequent fishing years, until the quota specified in § 622.42(e)(1)(iii) is reached—100 lb (45 kg). (iv) See § 622.43(a)(5) for the limitations regarding snowy grouper after the fishing year quota is reached. (4) Red porgy. (i) From May 1 through December 31—120 fish. (ii) From January 1 through April 30, the seasonal harvest limit specified in § 622.36(b)(5) applies. (iii) See § 622.43(a)(5) for the limitations regarding red porgy after the fishing year quota is reached. (5) Greater amberjack. Until the fishing year quota specified in § 622.42(e)(3) is reached, 1,000 lb (454 kg). See § 622.43(a)(5) for the limitations regarding greater amberjack after the fishing year quota is reached. * * * * * I 12. In § 622.45, paragraph (d)(8) is added to read as follows: § 622.45 * * Restrictions on sale/purchase. * VerDate Aug<31>2005 * * 14:49 Sep 20, 2006 Jkt 208001 (d) * * * (8) No person may sell or purchase a snowy grouper, golden tilefish, greater amberjack, vermilion snapper, black sea bass, or red porgy harvested from or possessed in the South Atlantic by a vessel for which a valid Federal commercial or charter vessel/headboat permit for South Atlantic snappergrouper has been issued for the remainder of the fishing year after the applicable commercial quota for that species specified in § 622.42(e) has been reached. The prohibition on sale/ purchase during these periods does not apply to such of the applicable species that were harvested, landed ashore, and sold prior to the applicable commercial quota being reached and were held in cold storage by a dealer or processor. * * * * * [FR Doc. 06–7940 Filed 9–18–06; 2:59 pm] BILLING CODE 3510–22–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9280] RIN 1545–BE10 Section 411(d)(6) Protected Benefits; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. AGENCY: SUMMARY: This document contains corrections to final regulations that were published in the Federal Register on August 9, 2006 (71 FR 45379) that provide guidance on certain issues under section 411(d)(6) of the Internal Revenue Code (Code), including the interaction between the anti-cutback rules of section 411(d)(6) and the nonforfeitability requirements of section 411(a). EFFECTIVE DATE: This correction is effective August 9, 2006. FOR FURTHER INFORMATION CONTACT: Pamela R. Kinard, at (202) 622–6060 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final regulations that are the subject of this correction are under section 411(d)(6) of the Code. Need for Correction As published, the final regulations (TD 9280), contain errors that may prove to be misleading and are in need of clarification. PO 00000 Frm 00022 Fmt 4700 Sfmt 4700 List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. Correction of Publication Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments: I PART 1—INCOME TAXES Paragraph 1. The authority citation for part 1 continues to read in part as follows: I Authority: 26 U.S.C 7805 * * * I Par. 2. Section 1.411(d)–3 is amended by revising paragraph (a)(3)(i), second sentence and (a)(4) Example 4 (ii), second sentence to read as follows: § 1.411(d)–3 benefits. Section 411 (d)(6) protected (a) * * * (3) * * * However, such an amendment does not violate section 411(d)(6) to the extent it applies with respect to benefits that accrue after the applicable amendment date. (4) * * * Example 4 * * * (ii) * * * A method of avoiding a section 411 (d)(6) violation with respect to account balances attributable to benefits accrued as of the applicable amendment date and earnings thereon would be for Plan D to provide for the vested percentage of G and each other participant in Plan E to be no less than the greater of the vesting percentages under the two vesting schedules (for example, for G and each other participant in Plan E to be 20% vested upon completion of 3 years of service, 40% vested upon completion of 4 years of service, and fully vested upon completion of 5 years of service) for those account balances and earnings. * * * * * Cynthia Grigsby, Senior Federal Liaison Officer, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 06–7862 Filed 9–20–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9280] RIN 1545–BE10 Section 411(d)(6) Protected Benefits; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to final regulations. AGENCY: E:\FR\FM\21SER1.SGM 21SER1 Federal Register / Vol. 71, No. 183 / Thursday, September 21, 2006 / Rules and Regulations SUMMARY: This document contains a correction to final regulations that were published in the Federal Register on August 9, 2006 (71 FR 45379) that provide guidance on certain issues under section 411(d)(6) of the Internal Revenue Code (Code), including the interaction between the anti-cutback rules of section 411(d)(6) and the nonforfeitability requirements of section 411(a). EFFECTIVE DATES: This correction is effective August 9, 2006. FOR FURTHER INFORMATION CONTACT: Pamela R. Kinard, at (202) 622–6060 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final regulations that are the subject of this correction are under section 411(d)(6) of the Code. Need for Correction As published, the final regulations (TD 9280), contain an error that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the publication of the final regulations (TD 9280), which were the subject of FR Doc. E6–12885, is corrected as follows: On page 45381, column 1, in the preamble, the last paragraph, line 8, the language ‘‘retained, subject to a certain’’ is corrected to read ‘‘retained, subject to certain’’. Cynthia Grigsby, Senior Federal Liaison Officer, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 06–7864 Filed 9–20–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 100 [CGD05–06–068] RIN 1625–AA08 Special Local Regulations for Marine Events; John H. Kerr Reservoir, Clarksville, VA Coast Guard, DHS. Temporary final rule. rmajette on PROD1PC67 with RULES1 AGENCY: ACTION: SUMMARY: The Coast Guard is establishing temporary special local regulations for the ‘‘Clarksville Hydroplane Challenge’’, a power boat VerDate Aug<31>2005 14:49 Sep 20, 2006 Jkt 208001 race to be held on the waters of the John H. Kerr Reservoir adjacent to Clarksville, Virginia. These special local regulations are necessary to provide for the safety of life on navigable waters during the event. This action is intended to restrict vessel traffic in portions of the John H. Kerr Reservoir adjacent to Clarksville, Virginia during the power boat race. DATES: This rule is effective from 7:30 a.m. on October 7 to 6:30 p.m. on October 8, 2006. ADDRESSES: Documents indicated in this preamble as being available in the docket, are part of docket (CGD05–06– 068) and are available for inspection or copying at Commander (dpi), Fifth Coast Guard District, 431 Crawford Street, Portsmouth, Virginia 23704– 5004, between 9 a.m. and 2 p.m., Monday through Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT: Dennis Sens, Project Manager, Inspections and Investigations Branch, at (757) 398–6204. SUPPLEMENTARY INFORMATION: Regulatory Information On July 21, 2006, we published a Notice of proposed rulemaking (NPRM) entitled Special Local Regulations for Marine Events; John H. Kerr Reservoir, Clarksville, VA in the Federal Register (71 FR 41407). We received no letters commenting on the proposed rule. No public meeting was requested, and none was held. Under 5 U.S.C. 553(d)(3), the Coast Guard finds that good cause exists for making this rule effective less than 30 days after publication in the Federal Register. Delaying the effective date would be contrary to the public interest, since immediate action is needed to ensure the safety of the event participants, support craft and other vessels transiting the event area. However, advance notifications will be made to affected waterway users via marine information broadcasts, area newspapers and local radio stations. Background and Purpose On October 7 and 8, 2006, the Virginia Boat Racing Association will sponsor the ‘‘Clarksville Hydroplane Challenge’’, on the waters of the John H. Kerr Reservoir. The event will consist of approximately 70 inboard hydroplanes racing in heats counter-clockwise around an oval racecourse. A fleet of spectator vessels is anticipated to gather nearby to view the competition. Due to the need for vessel control during the event, vessel traffic will be temporarily restricted to provide for the safety of PO 00000 Frm 00023 Fmt 4700 Sfmt 4700 55109 participants, spectators and transiting vessels. Discussion of Comments and Changes The Coast Guard did not receive comments in response to the Notice of proposed rulemaking (NPRM) published in the Federal Register. Accordingly, the Coast Guard is establishing temporary special local regulations on specified waters of the John H. Kerr Reservoir, Clarksville, Virginia. Regulatory Evaluation This temporary rule is not a ‘‘significant regulatory action’’ under section 3(f) of Executive Order 12866, Regulatory Planning and Review, and does not require an assessment of potential costs and benefits under section 6(a)(3) of that Order. The Office of Management and Budget has not reviewed it under that Order. It is not ‘‘significant’’ under the regulatory policies and procedures of the Department of Homeland Security (DHS). We expect the economic impact of this temporary rule to be so minimal that a full Regulatory Evaluation under the regulatory policies and procedures of DHS is unnecessary. Although this regulation will prevent traffic from transiting a portion of the John H. Kerr Reservoir adjacent to Clarksville, Virginia during the event, the effect of this regulation will not be significant due to the limited duration that the regulated area will be in effect. Extensive advance notifications will be made to the maritime community via Local Notice to Mariners, marine information broadcasts, area newspapers and local radio stations, so mariners can adjust their plans accordingly. Vessel traffic will be able to transit the regulated area between heats, when the Coast Guard Patrol Commander deems it is safe to do so. Small Entities Under the Regulatory Flexibility Act (5 U.S.C. 601–612), we have considered whether this temporary rule would have a significant economic impact on a substantial number of small entities. The term ‘‘small entities’’ comprises small businesses, not-for-profit organizations that are independently owned and operated and are not dominant in their fields, and governmental jurisdictions with populations of less than 50,000. The Coast Guard certifies under 5 U.S.C. 605(b) that this rule would not have a significant economic impact on a substantial number of small entities. This temporary rule would affect the following entities, some of which might E:\FR\FM\21SER1.SGM 21SER1

Agencies

[Federal Register Volume 71, Number 183 (Thursday, September 21, 2006)]
[Rules and Regulations]
[Pages 55108-55109]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-7864]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9280]
RIN 1545-BE10


Section 411(d)(6) Protected Benefits; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

-----------------------------------------------------------------------

[[Page 55109]]

SUMMARY: This document contains a correction to final regulations that 
were published in the Federal Register on August 9, 2006 (71 FR 45379) 
that provide guidance on certain issues under section 411(d)(6) of the 
Internal Revenue Code (Code), including the interaction between the 
anti-cutback rules of section 411(d)(6) and the nonforfeitability 
requirements of section 411(a).

EFFECTIVE DATES: This correction is effective August 9, 2006.

FOR FURTHER INFORMATION CONTACT: Pamela R. Kinard, at (202) 622-6060 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under section 411(d)(6) of the Code.

Need for Correction

    As published, the final regulations (TD 9280), contain an error 
that may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations (TD 9280), 
which were the subject of FR Doc. E6-12885, is corrected as follows:
    On page 45381, column 1, in the preamble, the last paragraph, line 
8, the language ``retained, subject to a certain'' is corrected to read 
``retained, subject to certain''.

Cynthia Grigsby,
Senior Federal Liaison Officer, Legal Processing Division, Associate 
Chief Counsel (Procedure and Administration).
[FR Doc. 06-7864 Filed 9-20-06; 8:45 am]
BILLING CODE 4830-01-P

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