Required Interest Rate Assumption for Determining Variable-Rate Premium for Single-Employer Plans; Interest Assumptions for Multiemployer Plan Valuations Following Mass Withdrawal, 52587-52588 [E7-18158]

Download as PDF Federal Register / Vol. 72, No. 178 / Friday, September 14, 2007 / Notices U.S. Nuclear Regulatory Commission, Washington, DC 20555, (301) 492–2076. NUCLEAR REGULATORY COMMISSION Appointments to Performance Review Boards for Senior Executive Service U.S. Nuclear Regulatory Commission. ACTION: Appointment to Performance Review Boards for Senior Executive Service. rmajette on PROD1PC64 with NOTICES AGENCY: BILLING CODE 7590–01–P SUMMARY: The U.S. Nuclear Regulatory Commission (NRC) has announced the following appointments to the NRC Performance Review Boards. The following individuals are appointed as members of the NRC Performance Review Board (PRB) responsible for making recommendations to the appointing and awarding authorities on performance appraisal ratings and performance awards for Senior Executives and Senior Level employees: Darren B. Ash, Deputy Executive Director for Information Services and Chief Information Officer; R. Wiliam Borchardt, Director, Office of New Reactors; Samuel J. Collins, Regional Administrator, Region I; Karen D. Cyr, General Counsel; Timothy F. Hagan, Director, Office of Administration; Bruce S. Mallet, Deputy Executive Director for Reactor and Preparedness Programs (Designate), Office of the Executive Director for Operations; William M. McCabe, Chief Financial Officer; Charles L. Miller, Director, Office of Federal and State Materials and Environmental Management Programs; Luis A. Reyes, Executive Director for Operations; Martin J. Virgilio, Deputy Executive Director for Materials, Waste, Research, State, Tribal, and Compliance Programs. The following individuals will serve as members of the NRC PRB Panel that was established to review appraisals and make recommendations to the appointing and awarding authorities for NRC PRB members: Stephen G. Burns, Deputy General Counsel, Office of the General Counsel; Brian W. Sheron, Director, Office of Nuclear Regulatory Research; Roy P. Zimmerman, Director, Office of Nuclear Security and Incident Response. All appointments are made pursuant to section 4314 of Chapter 43 of Title 5 of the United States Code. DATES: Effective Date: September 14, 2007. FOR FURTHER INFORMATION CONTACT: Secretary, Executive Resources Board, VerDate Aug<31>2005 15:44 Sep 13, 2007 Jkt 211001 Dated at Rockville, Maryland, this 4th day of September, 2007. For the U.S. Nuclear Regulatory Commission. James F. McDermott, Secretary, Executive Resources Board. [FR Doc. E7–18151 Filed 9–13–07; 8:45 am] OVERSEAS PRIVATE INVESTMENT CORPORATION Request for Comments Overseas Private Investment Corporation (OPIC). SUMMARY: Under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35), agencies are required to publish a Notice in the Federal Register notifying the public that the Agency is preparing an information collection request for OMB review and approval and to request public review and comment on the submission. Comments are being solicited on the need for the information; the accuracy of the Agency’s burden estimate, practical utility and clarity of the information to be collected; and on ways to estimate, practical utility and clarity of the information to be collected; and on ways to minimize the reporting burden, including automated collection techniques and uses of other forms of technology. The proposed form, OMB control number 3420–0001, under review is summarized below. DATES: Comments must be received within 30 calendar-days of publication of this Notice. The 60 day notice was published in the Federal Register on June 28, 2007. ADDRESSES: Copies of the subject form and the request for review prepared for submission to OMB may be obtained from the Agency submitting officer. Comments on the form should be submitted to the Agency Submitting Officer. AGENCY: FOR FURTHER INFORMATION CONTACT: OPIC Agency Submitting Officer: Essie Bryant, Record Manager, Overseas Private Investment Corporation, 1100 New York Avenue, NW., Washington, DC 20527; (202) 336–8563. Summary Form Under Review Type of Request: Revised form. Title: Request for Registration for Political Risk Investment Insurance. Form Number: OPIC–50. Frequency of Use: Once per investor per project. PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 52587 Type of Respondents: Business or other institution (except farms); individuals. Description of Affected Public: U.S. companies or citizens investing overseas. Reporting Hours: 1⁄2 hour per project. Number of Responses: 333 per year. Federal Cost: $1,000.00. Authority for Information Collection: Sections 231, 234(a), 239(d), and 240A of the Foreign Assistance Act of 1961, as amended. Abstract (Needs and Uses): The OPIC Form 50 is submitted by eligible investors to register their intent to make international investments, and ultimately, to seek OPIC political risk insurance. By submitting Form 50 to OPIC prior to making an irrevocable commitment, the incentive effect of OPIC is demonstrated. Dated: September 11, 2007. John Crowley, III, Senior Administrative Counsel, Department of Legal Affairs. [FR Doc. 07–4560 Filed 9–13–07; 8:45 am] BILLING CODE 3210–01–M 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 2007. The interest assumptions for performing multiemployer plan valuations following mass withdrawal under part 4281 apply to valuation dates occurring in October 2007. FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Manager, Regulatory and Policy Division, Legislative and Regulatory Department, Pension Benefit E:\FR\FM\14SEN1.SGM 14SEN1 52588 Federal Register / Vol. 72, No. 178 / Friday, September 14, 2007 / Notices 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 September 2007 is 6.33 percent (i.e., 100 percent of the 6.33 percent composite corporate bond rate for August 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 October 2006 and September 2007. rmajette on PROD1PC64 with NOTICES For premium payment years beginning in The required interest rate is October 2006 ........................ November 2006 .................... December 2006 .................... January 2007 ........................ February 2007 ...................... March 2007 ........................... April 2007 ............................. May 2007 .............................. June 2007 ............................. VerDate Aug<31>2005 15:44 Sep 13, 2007 5.06 5.05 4.90 5.75 5.89 5.85 5.84 5.98 6.01 Jkt 211001 The subject matter of the closed meeting scheduled for Wednesday, September 12, 2007 will be: July 2007 .............................. 6.32 August 2007 ......................... 6.33 Institution and settlement of injunctive actions; September 2007 ................... 6.33 Institution and settlement of administrative proceedings of an Multiemployer Plan Valuations enforcement nature; and Following Mass Withdrawal Other matters related to enforcement The PBGC’s regulation on Duties of proceedings. Plan Sponsor Following Mass At times, changes in Commission Withdrawal (29 CFR part 4281) priorities require alterations in the prescribes the use of interest scheduling of meeting items. For further assumptions under the PBGC’s information and to ascertain what, if regulation on Allocation of Assets in any, matters have been added, deleted Single-Employer Plans (29 CFR part or postponed, please contact: 4044). The interest assumptions The Office of the Secretary at (202) applicable to valuation dates in October 551–5400. 2007 under part 4044 are contained in an amendment to part 4044 published September 11, 2007. elsewhere in today’s Federal Register. Florence E. Harmon, Tables showing the assumptions Deputy Secretary. applicable to prior periods are codified [FR Doc. E7–18214 Filed 9–13–07; 8:45 am] in appendix B to 29 CFR part 4044. For premium payment years beginning in The required interest rate is BILLING CODE 8010–01–P Issued in Washington, DC, on this 11th day of September 2007. Vincent K. Snowbarger, Deputy Director, Pension Benefit Guaranty Corporation. [FR Doc. E7–18158 Filed 9–13–07; 8:45 pm] SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] BILLING CODE 7709–01–P In the Matter of Terax Energy, Inc.; Order of Suspension of Trading SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting; Federal Register Citation of Previous Announcement; 72 FR 51281, September 6, 2007 Closed meeting. 100 F Street, NE., Washington, STATUS: PLACE: DC. ANNOUNCEMENT OF ADDITIONAL MEETING: Additional meeting. The Commission has scheduled a closed meeting for Wednesday, September 12, 2007 at 10:30 a.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, exemption 5 U.S.C. 552b(c)(3), (5), (7), (9)(ii) and (10) and 17 CFR 200.402(a)(3), (5), (7), (9)(ii) and (10) permit consideration of the scheduled matters at the Closed Meeting. Commissioner Casey, as duty officer, voted to consider the items listed for the closed meeting in closed session, and determined that no earlier notice thereof was possible. PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 September 12, 2007. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Terax Energy, Inc. (‘‘Terax,’’ trading symbol TEXG.OB), because of questions regarding the accuracy of assertions by Terax and by others, in reports filed with the Commission and in press releases to investors concerning, among other things: (1) The status of Terax’s oil and gas operations, (2) Terax’s purported financing agreements, (3) Terax’s supposed acquisition of a controlling interest in a foreign oil and gas firm, (4) the existence, terms and status of a purported share exchange agreement between Terax and Westar Oil, Inc., and (5) the identity of the persons in control of the operations and management of Terax. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to section 12(k) of the Securities Exchange Act of 1934, that trading in the abovelisted company is suspended for the period from 9:30 a.m. EDT, September 12, 2007 through 11:59 p.m. EDT, on September 26, 2007. E:\FR\FM\14SEN1.SGM 14SEN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 72, Number 178 (Friday, September 14, 2007)]
[Notices]
[Pages 52587-52588]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-18158]


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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 2007. The interest assumptions for performing multiemployer 
plan valuations following mass withdrawal under part 4281 apply to 
valuation dates occurring in October 2007.

FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Manager, 
Regulatory and Policy Division, Legislative and Regulatory Department, 
Pension Benefit

[[Page 52588]]

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 September 2007 is 6.33 
percent (i.e., 100 percent of the 6.33 percent composite corporate bond 
rate for August 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 October 2006 and September 2007.

------------------------------------------------------------------------
                                                           The required
         For premium payment years beginning in            interest rate
                                                                is
------------------------------------------------------------------------
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
June 2007...............................................            6.01
July 2007...............................................            6.32
August 2007.............................................            6.33
September 2007..........................................            6.33
------------------------------------------------------------------------

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 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 11th day of September 2007.
Vincent K. Snowbarger,
Deputy Director, Pension Benefit Guaranty Corporation.
 [FR Doc. E7-18158 Filed 9-13-07; 8:45 pm]
BILLING CODE 7709-01-P

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