PBGC Flat Premium Rates, 67765 [E7-23269]
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Federal Register / Vol. 72, No. 230 / Friday, November 30, 2007 / Notices
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For the U.S. Nuclear Regulatory
Commission.
Andrea D. Valentin,
Chief, Regulatory Guide Development Branch,
Division of Engineering, Office of Nuclear
Regulatory Research.
[FR Doc. E7–23221 Filed 11–29–07; 8:45 am]
BILLING CODE 7590–01–P
PENSION BENEFIT GUARANTY
CORPORATION
PBGC Flat Premium Rates
Pension Benefit Guaranty
Corporation.
ACTION: Notice of flat premium rates.
rwilkins on PROD1PC63 with NOTICES
AGENCY:
SUMMARY: This notice informs the public
of the PBGC flat premium rates for
premium payment years beginning in
2008. These rates can be derived from
information published elsewhere but are
published in this notice for the
convenience of the public.
VerDate Aug<31>2005
17:29 Nov 29, 2007
Jkt 214001
The flat premium rates apply to
premium payment years beginning in
2008.
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: The
Pension Benefit Guaranty Corporation
(PBGC) administers the pension plan
termination insurance program under
Title IV of the Employee Retirement
Income Security Act of 1974 (ERISA).
Pension plans covered by Title IV must
pay premiums to PBGC. Section 4006 of
ERISA deals with premium rates.
The Deficit Reduction Act of 2005
(Pub. L. 109–171) (DRA 2005) amended
section 4006 of ERISA. DRA 2005
changed the per-participant flat
premium rate for plan years beginning
in 2006 from $19 to $30 for singleemployer plans and from $2.60 to $8 for
multiemployer plans and provided for
inflation adjustments to the flat rates for
future years. The adjustments are based
on changes in the national average wage
index as defined in section 209(k)(1) of
the Social Security Act, with a two-year
lag—for example, for 2008, the 2006
index is compared to the baseline (the
2004 index). The new provisions are
written in such a way that the premium
rate can never go down; if the change in
the national average wage index is
negative, the premium rate remains the
same as in the preceding year. Also,
premium rates are rounded to the
nearest whole dollar.
The baseline national average wage
index, the 2004 index, was $35,648.55.
The 2006 index was $38,651.41. The
ratio of the 2006 index to the 2004 index
is 1.084235. Multiplying this ratio by
$30.00 gives $32.53 which rounds to
$33.00. Multiplying the ratio by $8.00
gives $8.67, which rounds to $9.00.
Thus, the 2008 flat premium rates for
PBGC’s two insurance programs will be
$33.00 per participant for singleemployer plans and $9.00 per
participant for multiemployer plans.
The PBGC will publish the flat
premium rates annually for the
convenience of the public.
DATES:
Issued in Washington, DC, on this 27th day
of November 2007.
Vincent K. Snowbarger,
Deputy Director, Pension Benefit Guaranty
Corporation.
[FR Doc. E7–23269 Filed 11–29–07; 8:45 am]
BILLING CODE 7709–01–P
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67765
SECURITIES AND EXCHANGE
COMMISSION
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From: Securities and Exchange
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Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Rule 7d–1; SEC File No. 270–176; OMB
Control No. 3235–0311
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
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request for extension of the previously
approved collection of information
discussed below.
Section 7(d) of the Investment
Company Act of 1940 (15 U.S.C. 80a7(d)) (the ‘‘Act’’ or ‘‘Investment
Company Act’’) requires an investment
company (‘‘fund’’) organized outside the
United States (‘‘foreign fund’’) to obtain
an order from the Commission allowing
the fund to register under the Act before
making a public offering of its securities
through the United States mail or any
means of interstate commerce. The
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it finds that it is both legally and
practically feasible effectively to enforce
the provisions of the Act against the
foreign fund, and that the registration of
the fund is consistent with the public
interest and protection of investors.
Rule 7d–1 (17 CFR 270.7d–1) under
the Act, which was adopted in 1954,
specifies the conditions under which a
Canadian management investment
company (‘‘Canadian fund’’) may
request an order from the Commission
permitting it to register under the Act.
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and bylaws, the Act, and certain other
E:\FR\FM\30NON1.SGM
30NON1
]]>Agencies
[Federal Register Volume 72, Number 230 (Friday, November 30, 2007)]
[Notices]
[Page 67765]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-23269]
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PENSION BENEFIT GUARANTY CORPORATION
PBGC Flat Premium Rates
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of flat premium rates.
-----------------------------------------------------------------------
SUMMARY: This notice informs the public of the PBGC flat premium rates
for premium payment years beginning in 2008. These rates can be derived
from information published elsewhere but are published in this notice
for the convenience of the public.
DATES: The flat premium rates apply to premium payment years beginning
in 2008.
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: The Pension Benefit Guaranty Corporation
(PBGC) administers the pension plan termination insurance program under
Title IV of the Employee Retirement Income Security Act of 1974
(ERISA). Pension plans covered by Title IV must pay premiums to PBGC.
Section 4006 of ERISA deals with premium rates.
The Deficit Reduction Act of 2005 (Pub. L. 109-171) (DRA 2005)
amended section 4006 of ERISA. DRA 2005 changed the per-participant
flat premium rate for plan years beginning in 2006 from $19 to $30 for
single-employer plans and from $2.60 to $8 for multiemployer plans and
provided for inflation adjustments to the flat rates for future years.
The adjustments are based on changes in the national average wage index
as defined in section 209(k)(1) of the Social Security Act, with a two-
year lag--for example, for 2008, the 2006 index is compared to the
baseline (the 2004 index). The new provisions are written in such a way
that the premium rate can never go down; if the change in the national
average wage index is negative, the premium rate remains the same as in
the preceding year. Also, premium rates are rounded to the nearest
whole dollar.
The baseline national average wage index, the 2004 index, was
$35,648.55. The 2006 index was $38,651.41. The ratio of the 2006 index
to the 2004 index is 1.084235. Multiplying this ratio by $30.00 gives
$32.53 which rounds to $33.00. Multiplying the ratio by $8.00 gives
$8.67, which rounds to $9.00. Thus, the 2008 flat premium rates for
PBGC's two insurance programs will be $33.00 per participant for
single-employer plans and $9.00 per participant for multiemployer
plans.
The PBGC will publish the flat premium rates annually for the
convenience of the public.
Issued in Washington, DC, on this 27th day of November 2007.
Vincent K. Snowbarger,
Deputy Director, Pension Benefit Guaranty Corporation.
[FR Doc. E7-23269 Filed 11-29-07; 8:45 am]
BILLING CODE 7709-01-P
