Required Interest Rate Assumption for Determining Variable-Rate Premium for Premium Payment Years Beginning in January 2007, 6012-6013 [E7-2087]

Download as PDF jlentini on PROD1PC65 with NOTICES 6012 Federal Register / Vol. 72, No. 26 / Thursday, February 8, 2007 / Notices Addendum B to ASME RA–S–2002, dated December 30, 2005. • NEI–00–02, ‘‘Probabilistic Risk Assessment Peer Review Process Guidance,’’ Revision A3, dated March 20, 2000, with its supplemental guidance on industry self-assessment, dated August 16, 2002, Revision 1, dated May 19, 2006, and an update to Revision 1 dated November 15, 2006. • NEI–05–04, ‘‘Process for Performing Follow-on PRA Peer Reviews Using the ASME PRA Standard,’’ dated January 2005. When used in support of an application, this regulatory guide will obviate the need for an in-depth review of the base PRA by NRC reviewers, allowing them to focus their review on key assumptions and areas identified by peer reviewers as being of concern and relevant to the application. Consequently, this guide will provide for a more focused and consistent review process. In this regulatory guide, as in Regulatory Guide 1.174, the quality of a PRA analysis used to support an application is measured in terms of its appropriateness with respect to scope, level of detail, and technical acceptability. This regulatory guide was issued for trial use in February of 2004, and five trial applications were conducted. The staff subsequently revised Regulatory Guide 1.200 to incorporate the lessons learned from those pilot applications. The NRC solicited public comment on this guidance by publishing a Federal Register notice (71 FR 54530) concerning Draft Regulatory Guide DG– 1161. The public comment period closed on October 14, 2006, and the staff has considered and appropriately addressed all comments received. The staff’s responses to all comments received are available in the NRC’s Agencywide Documents Access and Management System (ADAMS) at https:// www.nrc.gov/reading-rm/ adams.html, under Accession #ML070040474. The NRC staff encourages and welcomes comments and suggestions in connection with improvements to published regulatory guides, as well as items for inclusion in regulatory guides that are currently being developed. You may submit comments by any of the following methods. Mail comments to: Rulemaking, Directives, and Editing Branch, Office of Administration, U.S. Nuclear Regulatory Commission, Washington, DC 20555– 0001. Hand-deliver comments to: Rulemaking, Directives, and Editing Branch, Office of Administration, U.S. Nuclear Regulatory Commission, 11555 VerDate Aug<31>2005 15:58 Feb 07, 2007 Jkt 211001 Rockville Pike, Rockville, Maryland 20852, between 7:30 a.m. and 4:15 p.m. on Federal workdays. Fax comments to: Rulemaking, Directives, and Editing Branch, Office of Administration, U.S. Nuclear Regulatory Commission at (301) 415–5144. Requests for technical information about Regulatory Guide 1.200 may be directed to Ms. Mary T. Drouin, at (301) 415–6675 or MXD@nrc.gov. Regulatory guides are available for inspection or downloading through the NRC’s public Web site in the Regulatory Guides document collection of the NRC’s Electronic Reading Room at https://www.nrc.gov/reading-rm/doccollections/. Regulatory Guide 1.200 is also available for inspection or downloading through the NRC’s Agencywide Documents Access and Management System (ADAMS) at https:// www.nrc.gov/reading-rm/ adams.html, under Accession #ML070240001. In addition, Revision 1 of Regulatory Guide 1.200 and other related publicly available documents, including public comments received, can be viewed electronically on computers in the NRC’s Public Document Room (PDR), which is located at 11555 Rockville Pike, Rockville, Maryland. The PDR reproduction contractor will make copies of documents for a fee. 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 Revision 1 of Regulatory Guide 1.200, unless specifically requested on an individual basis with adequate justification. Such requests for single copies (which may be reproduced) 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 26th day of January, 2007. PO 00000 Frm 00054 Fmt 4703 Sfmt 4703 For the U.S. Nuclear Regulatory Commission. Brian W. Sheron, Director, Office of Nuclear Regulatory Research. [FR Doc. E7–2089 Filed 2–7–07; 8:45 am] BILLING CODE 7590–01–P PENSION BENEFIT GUARANTY CORPORATION Required Interest Rate Assumption for Determining Variable-Rate Premium for Premium Payment Years Beginning in January 2007 Pension Benefit Guaranty Corporation. ACTION: Notice of interest rate assumption. AGENCY: SUMMARY: This notice informs the public of the interest rate assumption to be used for determining the variable-rate premium under the Pension Benefit Guaranty Corporation’s regulation on premium rates, for premium payment years beginning in January 2007. This notice revises a previously-published notice to reflect the recent publication by the Internal Revenue Service of updated mortality tables. This interest rate assumption can be derived from rates published elsewhere, but is 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 assumption for determining the variable-rate premium under part 4006 applies to premium payment years beginning 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: 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 singleemployer plan’s variable-rate premium. On February 2, 2007 (at 72 FR 4955), the Internal Revenue Service (IRS) published final regulations containing updated mortality tables for determining current liability under section 412(l)(7) E:\FR\FM\08FEN1.SGM 08FEN1 Federal Register / Vol. 72, No. 26 / Thursday, February 8, 2007 / Notices of the Code and section 302(d)(7) of ERISA for plan years beginning on or after January 1, 2007. As a result, in accordance with section 4006(a)(3)(E)(iii)(II) of ERISA, the required interest rate for plan years beginning on or after January 1, 2007, is 100 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 (premium payment year). On January 12, 2007 (at 72 FR 1564), the Pension Benefit Guaranty Corporation (PBGC) published a notice informing the public of the interest rate assumption to be used for determining variable-rate premiums for premium payment years beginning in January 2007. In light of IRS’s publication of the updated mortality tables, that required interest rate assumption has changed. The required interest rate to be used for determining variable-rate premiums for premium payment years beginning in January 2007 is 5.75 percent (i.e., 100 percent of the 5.75 percent composite corporate bond rate for December 2006). PBGC will post the revised required interest rate on its Web site (https:// www.pbgc.gov). Issued in Washington, DC, on this 5th day of February 2007. Vincent K. Snowbarger, Interim Director, Pension Benefit Guaranty Corporation. [FR Doc. E7–2087 Filed 2–7–07; 8:45 am] BILLING CODE 7709–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. jlentini on PROD1PC65 with NOTICES Extension: Rule 10b–10, SEC File No. 270– 389, OMB Control No. 3235–0444. 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 collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. VerDate Aug<31>2005 15:58 Feb 07, 2007 Jkt 211001 • Rule 10b–10; Confirmation of Transactions. Rule 10b–10 (17 CFR 240.10b–10) of the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) requires brokerdealers to convey basic trade information to customers regarding their securities transactions. This information includes: the date and time of the transaction, the identity and number of shares bought or sold, and the trading capacity of the broker-dealer. Depending on the trading capacity of the brokerdealer, the Rule requires the disclosure of commissions as well as mark-up and mark-down information. For transactions in debt securities, the Rule requires the disclosure of redemption and yield information. The Rule potentially applies to all of the approximately 6,014 firms registered with the Commission that affect transactions on behalf of customers. The confirmations required by Rule 10b–10 are generally processed through automated systems. It takes approximately 1 minute to generate and send a confirmation. It is estimated that broker-dealers spend 77.4 million hours per year complying with Rule 10b–10. The Commission staff estimates the costs of producing and sending a paper confirmation, including postage, to be approximately 91 cents. The Commission staff also estimates that the cost of producing and sending a wholly electronic confirmation is approximately 52 cents. The amount of confirmations sent and the cost of sending each confirmation varies from firm to firm. Smaller firms generally send fewer confirmations than larger firms because they affect fewer transactions. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility and clarity of the information to be 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. 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, PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 6013 VA 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 60 days of this notice. Dated: January 31, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–2086 Filed 2–7–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. IC–27695; File No. 812–13325] Country Investors Life Assurance Company, et al. February 2, 2007. Securities and Exchange Commission (the ‘‘Commission’’). ACTION: Notice of application for an order pursuant to Section 26(c) of the Investment Company Act of 1940, as amended (the ‘‘1940 Act’’ or ‘‘Act’’), approving certain substitutions of securities. AGENCY: COUNTRY Investors Life Assurance Company (the ‘‘Company’’), COUNTRY Investors Variable Life Account (the ‘‘Life Account’’) and COUNTRY Investors Variable Annuity Account (the ‘‘Annuity Account’’) (together, the ‘‘Applicants’’) APPLICANTS: SUMMARY: Applicants seek an order pursuant to Section 26(c) of the 1940 Act approving the substitution of: (1) Shares of the EquiTrust High Grade Bond Portfolio (‘‘Replacement Portfolio A’’) of the EquiTrust Variable Insurance Series Fund (the ‘‘EquiTrust Fund’’) for shares of the COUNTRY VP Short-Term Bond Fund (‘‘Replaced Portfolio A’’) of the COUNTRY Mutual Funds Trust (the ‘‘COUNTRY Fund’’); and (2) shares of the T. Rowe Price Personal Strategy Balanced Portfolio (‘‘Replacement Portfolio B’’) of the T. Rowe Price Equity Series, Inc. (the ‘‘T. Rowe Price Fund’’) for shares of the COUNTRY VP Balanced Fund (‘‘Replaced Portfolio B’’) of the COUNTRY Fund. Shares of Replacement Portfolio A, Replacement Portfolio B, Replaced Portfolio A, and Replaced Portfolio B currently are held by the Life Account and the Annuity Account (each an ‘‘Account,’’ together, the ‘‘Accounts’’) to support variable life insurance or variable annuity contracts, respectively, issued by the Company (collectively, the ‘‘Contracts’’). FILING DATE: The Application was filed on September 5, 2006 and amended and restated on January 24, 2007. HEARING OR NOTIFICATION OF HEARING: An order granting the application will be E:\FR\FM\08FEN1.SGM 08FEN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 72, Number 26 (Thursday, February 8, 2007)]
[Notices]
[Pages 6012-6013]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-2087]


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PENSION BENEFIT GUARANTY CORPORATION


Required Interest Rate Assumption for Determining Variable-Rate 
Premium for Premium Payment Years Beginning in January 2007

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of interest rate assumption.

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

SUMMARY: This notice informs the public of the interest rate assumption 
to be used for determining the variable-rate premium under the Pension 
Benefit Guaranty Corporation's regulation on premium rates, for premium 
payment years beginning in January 2007. This notice revises a 
previously-published notice to reflect the recent publication by the 
Internal Revenue Service of updated mortality tables. This interest 
rate assumption can be derived from rates published elsewhere, but is 
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 assumption for determining the 
variable-rate premium under part 4006 applies to premium payment years 
beginning 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: 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.
    On February 2, 2007 (at 72 FR 4955), the Internal Revenue Service 
(IRS) published final regulations containing updated mortality tables 
for determining current liability under section 412(l)(7)

[[Page 6013]]

of the Code and section 302(d)(7) of ERISA for plan years beginning on 
or after January 1, 2007. As a result, in accordance with section 
4006(a)(3)(E)(iii)(II) of ERISA, the required interest rate for plan 
years beginning on or after January 1, 2007, is 100 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 (premium payment year).
    On January 12, 2007 (at 72 FR 1564), the Pension Benefit Guaranty 
Corporation (PBGC) published a notice informing the public of the 
interest rate assumption to be used for determining variable-rate 
premiums for premium payment years beginning in January 2007. In light 
of IRS's publication of the updated mortality tables, that required 
interest rate assumption has changed.
    The required interest rate to be used for determining variable-rate 
premiums for premium payment years beginning in January 2007 is 5.75 
percent (i.e., 100 percent of the 5.75 percent composite corporate bond 
rate for December 2006).
    PBGC will post the revised required interest rate on its Web site 
(https://www.pbgc.gov).

    Issued in Washington, DC, on this 5th day of February 2007.
Vincent K. Snowbarger,
Interim Director, Pension Benefit Guaranty Corporation.
[FR Doc. E7-2087 Filed 2-7-07; 8:45 am]
BILLING CODE 7709-01-P

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