Required Interest Rate Assumption for Determining Variable-Rate Premium for Single-Employer Plans; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 27339-27340 [E7-9342]

Download as PDF Federal Register / Vol. 72, No. 93 / Tuesday, May 15, 2007 / Notices personnel rules and practices of the ACRS, and information the release of which would constitute a clearly unwarranted invasion of personal privacy. The agenda for the subject meeting shall be as follows: Tuesday, June 5, 2007, 8:30 a.m.–10 a.m. The Subcommittee will discuss proposed ACRS activities and related matters. 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. Sam Duraiswamy (telephone: 301–415–7364) between 7:30 a.m. and 4 p.m. (ET) five days prior to the meeting, if possible, so that appropriate arrangements can be made. Electronic recordings will be permitted only during those portions of the meeting that are open to the public. Further information regarding this meeting can be obtained by contacting the Designated Federal Official between 7:30 a.m. and 4 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 in the agenda. Dated: May 8, 2007. Cayetano Santos, Branch Chief, ACRS. [FR Doc. E7–9309 Filed 5–14–07; 8:45 am] Sunshine Act Federal Register Notice Agency Holding the Meetings: Nuclear Regulatory Commission. Weeks of May 14, 21, 28, June 4, 11, 18, 2007. PLACE: Commissioners’ Conference Room, 11555 Rockville Pike, Rockville, Maryland. STATUS: Public and Closed. DATES: Matters to be Considered cprice-sewell on PROD1PC62 with NOTICES Week of May 14, 2007 Monday, May 14, 2007 12:45 p.m. Affirmation Session (Public Meeting) (Tentative). a. Final Rule: Requirements for Expanded Definition of Byproduct Material (RIN: 3150–AH84) Jkt 211001 There are no meetings scheduled for the week of May 21, 2007. Week of May 28, 2007—Tentative Tuesday, May 29, 2007 1:30 p.m. NRC All Hands Meeting (Public Meeting) (Contact: Rickie Seltzer, 301–415–1728), Marriott Bethesda North Hotel, Salons A-E, 5701 Marinelli Road, Rockville, MD 20852. Wednesday, May 30, 2007 9:30 a.m. Briefing on Results of the Agency Action Review Meeting (AARM)— Materials (Public Meeting) (Contact: Duane White, 301–415–6272). This meeting will be webcast live at the Web address—www.nrc.gov. 10:15 a.m. Discussion of Security Issues (Closed—Ex.1). Thursday, May 31, 2007 9 a.m. Briefing on Results of the Agency Action Review Meeting (AARM)— Reactors (Public Meeting) (Contact: Mark Tonacci, 301–415–4045). This meeting will be webcast live at the Web address—www.nrc.gov. Thursday, June 7, 2007 NUCLEAR REGULATORY COMMISSION 13:50 May 14, 2007 Week of May 21, 2007—Tentative Week of June 4, 2007—Tentative BILLING CODE 7590–01–P VerDate Aug<31>2005 (Tentative). 1:30 p.m. Meeting with the Advisory Committee on Reactor Safeguards (ACRS) (Public Meeting) (Contact: Frank Gillespie, 301–415–7360). This meeting will be webcast live at the Web address—www.nrc.gov. Week of June 11, 2007—Tentative There are no meetings scheduled for the week of June 11, 2007. Week of June 18, 2007—Tentative There are no meetings scheduled for the week of June 18, 2007. * * * * * * The schedule for Commission meetings is subject to change on short notice. To verify the status of meetings call (recording)—(301) 415–1292. Contact person for more information: Michelle Schroll, (301) 415–1662. * * * * * The NRC Commission Meeting Schedule can be found on the Internet at: www.nrc.gov/about-nrc/policymaking/schedule.html. * * * * * PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 27339 The NRC provides reasonable accommodation to individuals with disabilities where appropriate. If you need a reasonable accommodation to participate in these public meetings, or need this meeting notice or the transcript or other information from the public meetings in another format (e.g., braille, large print), please notify the NRC’s Disability Program Coordinator, Deborah Chan, at 301–415–7041, TDD: 301–415–2100, or by e-mail at DLC@nrc.gov. Determinations on requests for reasonable accommodation will be made on a case-by-case basis. * * * * * This notice is distributed by mail to several hundred subscribers; if you no longer wish to receive it, or would like to be added to the distribution, please contact the Office of the Secretary, Washington, DC 20555 (301–415–1969). In addition, distribution of this meeting notice over the Internet system is available. If you are interested in receiving this Commission meeting schedule electronically, please send an electronic message to dkw@nrc.gov. Dated: May 10, 2007. R. Michelle Schroll, Office of the Secretary. [FR Doc. 07–2402 Filed 5–11–07; 12:13 pm] 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 May 2007. The interest assumptions for performing multiemployer plan valuations following mass withdrawal under part E:\FR\FM\15MYN1.SGM 15MYN1 27340 Federal Register / Vol. 72, No. 93 / Tuesday, May 15, 2007 / Notices cprice-sewell on PROD1PC62 with NOTICES 4281 apply to valuation dates occurring in June 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’’ 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’’). 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) 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 ‘‘applicable percentage’’ to be used in determining the required interest rate for plan years beginning in 2007 is 100 percent. The required interest rate to be used in determining variable-rate premiums for premium payment years beginning in May 2007 is 5.98 percent (i.e., 100 percent of the 5.98 percent composite corporate bond rate for April 2007 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 June 2006 and May 2007. For premium payment years beginning in: The required interest rate is: September 2006 ................... October 2006 ........................ November 2006 .................... December 2006 .................... January 2007 ........................ February 2007 ...................... March 2007 ........................... April 2007 ............................. May 2007 .............................. 5.19 5.06 5.05 4.90 5.75 5.89 5.85 5.84 5.98 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 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 10th day of May 2007. Vincent K. Snowbarger, Interim Director, Pension Benefit Guaranty Corporation. [FR Doc. E7–9342 Filed 5–14–07; 8:45 am] BILLING CODE 7709–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 27820; 812–13304] Van Eck Worldwide Insurance Trust, et al.; Notice of Application May 9, 2007. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of application for an order under sections 6(c) and 17(b) of the Act for an exemption from section 17(a) of the Investment Company Act of 1940 (‘‘Act’’) and under section 12(d)(1)(J) of the Act for an exemption from sections 12(d)(1)(A) and (B). AGENCY: Summary of the Application: The order would permit certain registered open-end management investment companies to acquire shares of other registered open-end management investment companies and unit For premium payment years The required beginning in: interest rate is: investment trusts (‘‘UITs’’) that are within and outside the same group of June 2006 ............................. 5.35 investment companies. Applicants: Van Eck Worldwide July 2006 .............................. 5.36 August 2006 ......................... 5.36 Insurance Trust (‘‘WWIT’’), Van Eck VerDate Aug<31>2005 13:50 May 14, 2007 Jkt 211001 PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 Funds (‘‘Van Eck Funds’’) and Van Eck Funds, Inc. (‘‘Van Eck Funds II’’) (together, the ‘‘Investment Companies’’) and Van Eck Associates Corporation (‘‘Adviser’’).1 DATES: Filing Dates: The application was filed on June 16, 2006, and amended on May 3, 2007. 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 by 5:30 p.m. on May 31, 2007, and should be accompanied by proof of service on 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 who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. ADDRESSES: Secretary, Commission, 100 F Street, NE., Washington, DC 20549– 9303. Applicants: Joseph McBrien, Esq., Van Eck Associates Corporation, 99 Park Avenue, New York, New York 10016. FOR FURTHER INFORMATION CONTACT: Emerson S. Davis, Sr., Senior Counsel, at (202) 551–6868, or Nadya B. Roytblat, Assistant Director, at (202) 551–6821 (Office of Investment Company Regulation, Division of Investment Management). 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: Applicants’ Representations 1. WWIT is a Massachusetts business trust and is registered under the Act as an open-end management investment company. WWIT currently consists of five Funds, each with its own investment objective and policies. Shares of each WWIT Fund are currently offered and sold through 1 All entities that currently intend to rely on the requested order are named as applicants and any other entity that relies on the order in the future will comply with the terms and conditions of the application. Applicants request that the relief also apply to any other existing or future registered open-end management investment company that is part of the same group of investment companies, as defined in section 12(d)(1)(G) of the Act, as the Investment Companies (included in the term ‘‘Investment Companies’’). Each series of an Investment Company is referred to as ‘‘Fund’’ and collectively as ‘‘Funds.’’ E:\FR\FM\15MYN1.SGM 15MYN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 72, Number 93 (Tuesday, May 15, 2007)]
[Notices]
[Pages 27339-27340]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-9342]


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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 
May 2007. The interest assumptions for performing multiemployer plan 
valuations following mass withdrawal under part

[[Page 27340]]

4281 apply to valuation dates occurring in June 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'' 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'').
    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) 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 ``applicable percentage'' to be 
used in determining the required interest rate for plan years beginning 
in 2007 is 100 percent.
    The required interest rate to be used in determining variable-rate 
premiums for premium payment years beginning in May 2007 is 5.98 
percent (i.e., 100 percent of the 5.98 percent composite corporate bond 
rate for April 2007 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 June 2006 and May 2007.

------------------------------------------------------------------------
                                                           The required
         For premium payment years beginning in:           interest rate
                                                                is:
------------------------------------------------------------------------
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
January 2007............................................            5.75
February 2007...........................................            5.89
March 2007..............................................            5.85
April 2007..............................................            5.84
May 2007................................................            5.98
------------------------------------------------------------------------

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 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 10th day of May 2007.
Vincent K. Snowbarger,
Interim Director, Pension Benefit Guaranty Corporation.
 [FR Doc. E7-9342 Filed 5-14-07; 8:45 am]
BILLING CODE 7709-01-P

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