Required Interest Rate Assumption for Determining Variable-Rate Premium for Single-Employer Plans; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 75588-75589 [E6-21441]

Download as PDF 75588 Federal Register / Vol. 71, No. 241 / Friday, December 15, 2006 / Notices specified in 10 CFR 20.1402. Because the proposed action will not significantly impact the quality of the human environment, the NRC staff concludes that the proposed action is the preferred alternative. Agencies and Persons Consulted NRC provided a draft of this Environmental Assessment to the Washington State Department of Health, Office of Radiation Protection for review on October 31, 2006. On November 6, 2006, the Washington State Department of Health, Office of Radiation Protection responded by electronic mail. The State agreed with the conclusions of the EA, and provided editorial comments. The NRC staff has determined that the proposed action is of a procedural nature, and will not affect listed species or critical habitat. Therefore, no further consultation is required under Section 7 of the Endangered Species Act. The NRC staff has also determined that the proposed action is not the type of activity that has the potential to cause effects on historic properties. Therefore, no further consultation is required under Section 106 of the National Historic Preservation Act. III. Finding of No Significant Impact The NRC staff has prepared this EA in support of the proposed action. On the basis of this EA, the NRC finds that there are no significant environmental impacts from the proposed action, and that preparation of an environmental impact statement is not warranted. Accordingly, the NRC has determined that a Finding of No Significant Impact is appropriate. Licensing and Related Regulatory Functions;’’ 4. NUREG–1496, ‘‘Generic Environmental Impact Statement in Support of Rulemaking on Radiological Criteria for License Termination of NRCLicensed Nuclear Facilities;’’ 5. NRC License No. 45–23645–01NA inspection and licensing records; 6. Department of the Navy, Termination of Naval Radioactive Materials Permit No. 46–00253–B1NP Issued to Naval Undersea Warfare Center Division, Keyport, Washington, dated October 11, 2005 (ML052970305); and 7. Department of the Navy, Final Status Survey for Naval Undersea Warfare Center and supporting documentation, dated December 15, 2004 (ML060390731). If you do not have access to ADAMS, or if there are problems in accessing the documents located in ADAMS, contact the NRC Public Document Room (PDR) Reference staff at 1–800–397–4209, 301– 415–4737, or by email to pdr@nrc.gov. These documents may also be viewed electronically on the public computers located at the NRC’s PDR, O 1 F21, One White Flint North, 11555 Rockville Pike, Rockville, MD 20852. The PDR reproduction contractor will copy documents for a fee. questions raised at the subcommittee meeting held on October 3, 2006. The Subcommittee will hear presentations by and hold discussions with representatives of the NRC staff, AmerGen Energy Company, and other interested persons regarding this matter. The Subcommittee will gather information, analyze relevant issues and facts, and formulate proposed positions and actions, as appropriate, for deliberation by the full Committee. Members of the public desiring to provide oral statements and/or written comments should notify the Designated Federal Official, Mr. Michael Junge (telephone 301/415–6855) five days prior to the meeting, if possible, so that appropriate arrangements can be made. Electronic recordings will be permitted. Further information regarding this meeting can be obtained by contacting the Designated Federal Official between 6:45 a.m. and 3:30 p.m. (ET). Persons planning to attend this meeting are urged to contact the above named individual at least two working days prior to the meeting to be advised of any potential changes to the agenda. Dated at King of Prussia this 5th day of December 2006. For The Nuclear Regulatory Commission. Marie Miler, Chief, Materials Security & Industrial Branch, Division of Nuclear Materials Safety, Region I. [FR Doc. E6–21355 Filed 12–14–06; 8:45 am] BILLING CODE 7590–01–P BILLING CODE 7590–01–P mstockstill on PROD1PC61 with NOTICES IV. Further Information Documents related to this action, including the application for license amendment and supporting documentation, are available electronically at the NRC’s Electronic Reading Room at https://www.nrc.gov/ reading-rm/adams.html. From this site, you can access the NRC’s Agencywide Document Access and Management System (ADAMS), which provides text and image files of NRC’s public documents. The documents related to this action are listed below, along with their ADAMS accession numbers. 1. NUREG–1757, ‘‘Consolidated NMSS Decommissioning Guidance;’’ 2. Title 10 Code of Federal Regulations, Part 20, Subpart E, ‘‘Radiological Criteria for License Termination;’’ 3. Title 10, Code of Federal Regulations, Part 51, ‘‘Environmental Protection Regulations for Domestic VerDate Aug<31>2005 15:47 Dec 14, 2006 Jkt 211001 NUCLEAR REGULATORY COMMISSION The ACRS Subcommittee on Plant License Renewal will hold a meeting on January 18, 2007, Room T–2B3, 11545 Rockville Pike, Rockville, Maryland. The entire meeting will be open to public attendance. The agenda for the subject meeting shall be as follows: Thursday, January 18, 2007—8:30 a.m. until 5 p.m. The purpose of this meeting is to continue discussion on the License Renewal Application for Oyster Creek and the associated Safety Evaluation Report (SER) prepared by the NRR staff with emphasis on the containment liner Frm 00114 Fmt 4703 Sfmt 4703 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: Advisory Committee on Reactor Safeguards (ACRS) Meeting of the Subcommittee on Plant License Renewal; Notice of Meeting PO 00000 Dated: December 11, 2006. Antonio F. Dias, Acting Branch Chief, ACRS/ACNW. [FR Doc. E6–21366 Filed 12–14–06; 8:45 am] 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 2006. The interest assumptions for performing multiemployer plan valuations following mass withdrawal E:\FR\FM\15DEN1.SGM 15DEN1 Federal Register / Vol. 71, No. 241 / Friday, December 15, 2006 / Notices under part 4281 apply to valuation dates occurring in January 2007. 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 ‘‘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 December 2006 is 4.90 percent (i.e., 85 percent of the 5.77 percent composite corporate bond rate for November 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 January 2006 and December 2006. The required interest rate is: January 2006 ............ February 2006 .......... March 2006 ............... April 2006 ................. May 2006 .................. June 2006 ................. July 2006 .................. August 2006 ............. September 2006 ....... October 2006 ............ November 2006 ........ December 2006 ........ mstockstill on PROD1PC61 with NOTICES For premium payment years beginning in: 4.86 4.80 4.87 5.01 5.25 5.35 5.36 5.36 5.19 5.06 5.05 4.90 Multiemployer Plan Valuations Following Mass Withdrawal The PBGC’s regulation on Duties of Plan Sponsor Following Mass Withdrawal (29 CFR part 4281) VerDate Aug<31>2005 15:47 Dec 14, 2006 Jkt 211001 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 2007 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 2006. Vincent K. Snowbarger, Interim Director, Pension Benefit Guaranty Corporation. [FR Doc. E6–21441 Filed 12–14–06; 8:45 am] BILLING CODE 7709–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 27595; 812–13257] 75589 by 5:30 p.m. on January, 5, 2007 and should be accompanied by proof of service on the applicants, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer’s interest, the reason for the request, and the issues contested. Persons may request notification of a hearing by writing to the Commission’s Secretary. ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. Applicants, c/o Marguerite E.H. Morrison, Esq., New York Life Investment Management LLC, 169 Lackawanna Ave., 3rd Floor, Parsippany, NJ 07054. FOR FURTHER INFORMATION CONTACT: Laura L. Solomon, Senior Counsel, at (202) 551–6915, or Nadya B. Roytblat, Assistant Director, at (202) 551–6821 (Division of Investment Management, Office of Investment Company Regulation). The following is a summary of the application. The complete application may be obtained for a fee at the Commission’s Public Reference Desk, 100 F Street, NE., Washington, DC 20549–0102 (telephone (202) 551–5850). SUPPLEMENTARY INFORMATION: The MainStay Funds, et al.; Notice of Application December 11, 2006. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from section 15(a) of the Act and rule 18f–2 under the Act, as well as certain disclosure requirements. AGENCY: Summary of Application: Applicants request an order that would permit them to enter into and materially amend subadvisory agreements without shareholder approval and would grant relief from certain disclosure requirements. Applicants: The MainStay Funds and MainStay VP Series Fund, Inc. (each a ‘‘Registrant’’ and together, the ‘‘Registrants’’) and New York Life Investment Management LLC (‘‘NYLIM’’ or the ‘‘Manager’’). Filing Dates: The application was filed on February 1, 2006, and amended on May 2, 2006 and November 15, 2006. Applicants have agreed to file an amendment during the notice period, the substance of which is reflected in this notice. Hearing or Notification of Hearing: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 Applicants’ Representations 1. The MainStay Funds is organized as a Massachusetts business trust and is registered under the Act as an open-end management investment company. Each Registrant currently offers multiple series (each a ‘‘Fund’’) with its own investment objectives, policies and restrictions.1 MainStay VP Series Fund, Inc. is organized as a Maryland corporation and is registered under the Act as an open-end management investment company. The Manager is a Delaware limited liability company and is registered as an investment adviser 1 Applicants also request relief with respect to: (a) All of the Funds; and (b) any other existing and future series of the Registrants and any other existing or future registered open-end management investment company or series thereof that wishes to rely on the relief and: (1) Uses the ‘‘manager-ofmanagers’’ arrangement described in the application; (2) complies with the terms and conditions of the application; and (3) is advised by a Manager (together with the Funds, the ‘‘SubAdvised Funds’’). All references to the term ‘‘Manager’’ herein include (a) NYLIM, and (b) any entity controlling, controlled by, or under common control with NYLIM. All existing registered openend management investment companies that currently intend to rely on the requested order are named as applicants. If the name of any SubAdvised Fund contains the name of a Sub-Adviser (as defined below), the name of the Manager, including the legal name of the Manager and/or any ‘‘doing business as’’ or business unit names used by the Manager, will precede the name of the SubAdviser. E:\FR\FM\15DEN1.SGM 15DEN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 71, Number 241 (Friday, December 15, 2006)]
[Notices]
[Pages 75588-75589]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-21441]


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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 
December 2006. The interest assumptions for performing multiemployer 
plan valuations following mass withdrawal

[[Page 75589]]

under part 4281 apply to valuation dates occurring in January 2007.

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 ``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 December 2006 is 4.90 percent (i.e., 85 percent of the 
5.77 percent composite corporate bond rate for November 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 January 2006 and December 2006.

------------------------------------------------------------------------
                                                        The required
      For premium payment years beginning in:         interest rate is:
------------------------------------------------------------------------
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
October 2006......................................                  5.06
November 2006.....................................                  5.05
December 2006.....................................                  4.90
------------------------------------------------------------------------

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 2007 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 2006.
Vincent K. Snowbarger,
Interim Director, Pension Benefit Guaranty Corporation.
 [FR Doc. E6-21441 Filed 12-14-06; 8:45 am]
BILLING CODE 7709-01-P

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