Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits, 34237-34239 [E9-16770]
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34237
Federal Register / Vol. 74, No. 134 / Wednesday, July 15, 2009 / Rules and Regulations
In addition, FDA is amending
§ 558.530 to remove an incorrect human
food safety warning and to revise an
animal safety limitation for use of
roxarsone in chicken and turkey feeds.
The food safety warning restricting use
of roxarsone in poultry producing eggs
for human consumption was codified in
error during a change from text to table
format in 2005 (70 FR 41958; July 21,
2005). The animal safety warning is
revised to reflect recommendations of
the National Academy of SciencesNational Research Council (NAS-NRC)
Drug Efficacy Study in 1970 (35 FR
14273; September 10, 1970), following
their evaluation of the product. NASNRC’s recommended warning was
restated, but not codified, at the time of
Drug Efficacy Study Implementation’s
finalization of NADA 7–891 for a
roxarsone Type A medicated article in
1981 (46 FR 52330; October 27, 1981).
The revised warning for medicated feed
use agrees with the warning that is
codified for roxarsone oral dosage forms
in 21 CFR part 520.
Lasalocid sodium activity
in grams per ton
In accordance with the freedom of
information provisions of 21 CFR part
20 and 21 CFR 514.11(e)(2)(ii), a
summary of safety and effectiveness
data and information submitted to
support approval of this application
may be seen in the Division of Dockets
Management (HFA–305), Food and Drug
Administration, 5630 Fishers Lane, rm.
1061, Rockville, MD 20852, between 9
a.m. and 4 p.m., Monday through
Friday.
The agency has determined under 21
CFR 25.33 that this action is of a type
that does not individually or
cumulatively have a significant effect on
the human environment. Therefore,
neither an environmental assessment
nor an environmental impact statement
is required.
This rule does not meet the definition
of ‘‘rule’’ in 5 U.S.C. 804(3)(A) because
it is a rule of ‘‘particular applicability.’’
Therefore, it is not subject to the
congressional review requirements in 5
U.S.C. 801–808.
Combination in
grams per ton
(xv) 68 (0.0075 pct) to
113 (0.0125 pct).
*
*
§ 558.530
3. Amend § 558.530 as follows:
a. In the table in paragraph (d)(1)(i),
in the ‘‘Limitations’’ column, remove
the phrase ‘‘do not feed to chickens
producing eggs for human
consumption;’’ and remove the phrase
‘‘may result in leg weakness’’ and in its
place add the phrase ‘‘may result in
weakness or paralysis of the legs’’ and
b. In the table in paragraph (d)(2)(i),
in the ‘‘Limitations’’ column, remove
the phrase ‘‘do not feed to turkeys
producing eggs for human
consumption;’’ and remove the phrase
‘‘may result in leg weakness’’ and in its
place add the phrase ‘‘may result in
weakness or paralysis of the legs’’.
srobinson on DSKHWCL6B1PROD with RULES
Dated: July 9, 2009.
Bernadette Dunham,
Director, Center for Veterinary Medicine.
[FR Doc. E9–16733 Filed 7–14–09; 8:45 am]
BILLING CODE 4160–01–S
VerDate Nov<24>2008
15:15 Jul 14, 2009
Jkt 217001
Authority: 21 U.S.C. 360b, 371.
2. In § 558.311, in the table in
paragraph (e)(1)(xv), alphabetically add
a new entry for ‘‘Roxarsone 22.7 to
45.4’’ to read as follows:
■
§ 558.311
*
Lasalocid.
*
*
(e) * * *
(1) * * *
*
*
*
*
■
1. The authority citation for 21 CFR
part 558 continues to read as follows:
■
*
Limitations
*
Sponsor
*
*
Growing turkeys: For prevention of
coccidiosis caused by E.
meleagrimitis, E. gallopavonis, and E.
adenoeides, increased rate of weight
gain, improved feed efficiency, and
improved pigmentation.
*
[Amended]
PART 558—NEW ANIMAL DRUGS FOR
USE IN ANIMAL FEEDS
*
*
Roxarsone 22.7 to
45.4
*
Animal drugs, Animal feeds.
Therefore, under the Federal Food,
Drug, and Cosmetic Act and under
authority delegated to the Commissioner
of Food and Drugs and redelegated to
the Center for Veterinary Medicine, 21
CFR part 558 is amended as follows:
■
Indications for use
*
*
List of Subjects in 21 CFR Part 558
*
*
*
Feed continuously as the sole ration.
Roxarsone provided by No. 046573 in
§ 510.600(c) in this chapter.
*
*
046573
*
Effective August 1, 2009.
PENSION BENEFIT GUARANTY
CORPORATION
DATES:
29 CFR Part 4022
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.)
Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions
for Valuing and Paying Benefits
AGENCY: Pension Benefit Guaranty
Corporation.
ACTION: Final rule.
SUMMARY: Pension Benefit Guaranty
Corporation’s regulation on Benefits
Payable in Terminated Single-Employer
Plans prescribes interest assumptions
for valuing and paying certain benefits
under terminating singleπemployer
plans. This final rule amends the benefit
payments regulation to adopt interest
assumptions for plans with valuation
dates in August 2009. Interest
assumptions are also published on
PBGC’s Web site (https://www.pbgc.gov).
PO 00000
Frm 00029
Fmt 4700
Sfmt 4700
FOR FURTHER INFORMATION CONTACT:
PBGC’s
regulations prescribe actuarial
assumptions—including interest
assumptions—for valuing and paying
plan benefits of terminating singleemployer plans covered by title IV of
the Employee Retirement Income
Security Act of 1974. The interest
assumptions are intended to reflect
current conditions in the financial and
annuity markets.
SUPPLEMENTARY INFORMATION:
E:\FR\FM\15JYR1.SGM
15JYR1
34238
Federal Register / Vol. 74, No. 134 / Wednesday, July 15, 2009 / Rules and Regulations
These interest assumptions are found
in two PBGC regulations: the regulation
on Benefits Payable in Terminated
Single-Employer Plans (29 CFR Part
4022) and the regulation on Allocation
of Assets in Single-Employer Plans (29
CFR Part 4044). Assumptions under the
asset allocation regulation are updated
quarterly; assumptions under the benefit
payments regulation are updated
monthly. This final rule updates only
the assumptions under the benefit
payments regulation.
Two sets of interest assumptions are
prescribed under the benefit payments
regulation: (1) A set for PBGC to use to
determine whether a benefit is payable
as a lump sum and to determine lumpsum amounts to be paid by PBGC (found
in Appendix B to Part 4022), and (2) a
set for private-sector pension
practitioners to refer to if they wish to
use lump-sum interest rates determined
using PBGC’s historical methodology
(found in Appendix C to Part 4022).
This amendment (1) adds to
Appendix B to Part 4022 the interest
assumptions for PBGC to use for its own
lump-sum payments in plans with
valuation dates during August 2009, and
(2) adds to Appendix C to Part 4022 the
interest assumptions for private-sector
pension practitioners to refer to if they
wish to use lump-sum interest rates
determined using PBGC’s historical
methodology for valuation dates during
August 2009.
The interest assumptions that PBGC
will use for its own lump-sum payments
(set forth in Appendix B to part 4022)
will be 3.00 percent for the period
during which a benefit is in pay status
and 4.00 percent during any years
preceding the benefit’s placement in pay
status. These interest assumptions
represent a decrease (from those in
effect for July 2009) of 0.75 percent in
the immediate annuity rate and are
otherwise unchanged. For private-sector
payments, the interest assumptions (set
forth in Appendix C to part 4022) will
be the same as those used by PBGC for
determining and paying lump sums (set
forth in Appendix B to part 4022).
PBGC has determined that notice and
public comment on this amendment are
impracticable and contrary to the public
interest. This finding is based on the
need to determine and issue new
interest assumptions promptly so that
the assumptions can reflect current
market conditions as accurately as
possible.
Because of the need to provide
immediate guidance for the valuation
and payment of benefits in plans with
valuation dates during August 2009,
PBGC finds that good cause exists for
making the assumptions set forth in this
For plans with a valuation
date
Rate set
On or after
*
*
*
190 ....................................................................................
3. In appendix C to part 4022, Rate Set
190, as set forth below, is added to the
table.
■
Before
*
*
*
1. The authority citation for part 4022
continues to read as follows:
■
Authority: 29 U.S.C. 1302, 1322, 1322b,
1341(c)(3)(D), and 1344.
2. In appendix B to part 4022, Rate Set
190, as set forth below, is added to the
table.
■
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
*
*
*
*
*
Deferred annuities
(percent)
i2
i3
4.00
i1
4.00
*
3.00
4.00
n1
n2
*
7
8
*
For plans with a valuation
date
*
*
*
190 ....................................................................................
srobinson on DSKHWCL6B1PROD with RULES
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
Immediate
annuity rate
(percent)
9–1–09
On or after
Jkt 217001
Employee benefit plans, Pension
insurance, Pensions, Reporting and
recordkeeping requirements.
■ In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
*
8–1–09
*
Rate set
15:15 Jul 14, 2009
List of Subjects in 29 CFR Part 4022
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
*
VerDate Nov<24>2008
amendment effective less than 30 days
after publication.
PBGC has determined that this action
is not a ‘‘significant regulatory action’’
under the criteria set forth in Executive
Order 12866.
Because no general notice of proposed
rulemaking is required for this
amendment, the Regulatory Flexibility
Act of 1980 does not apply. See 5 U.S.C.
601(2).
PO 00000
Frm 00030
Before
*
8–1–09
Fmt 4700
Immediate
annuity rate
(percent)
Deferred annuities
(percent)
*
9–1–09
Sfmt 4700
i2
i1
i3
4.00
4.00
*
3.00
E:\FR\FM\15JYR1.SGM
4.00
15JYR1
n1
n2
*
7
8
Federal Register / Vol. 74, No. 134 / Wednesday, July 15, 2009 / Rules and Regulations
Issued in Washington, DC, on this 8th day
of July 2009.
Vincent K. Snowbarger,
Acting Director, Pension Benefit Guaranty
Corporation.
[FR Doc. E9–16770 Filed 7–14–09; 8:45 am]
BILLING CODE 7709–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 100
[Docket No. USCG–2009–0562]
Regattas and Marine Parades; Great
Lakes Annual Marine Events
Coast Guard, DHS.
Notice of enforcement of
regulation.
AGENCY:
srobinson on DSKHWCL6B1PROD with RULES
ACTION:
SUMMARY: The Coast Guard will enforce
the local regulations for annual regattas
and marine parades in the Captain of
the Port Detroit zone from 7 a.m. on July
9, 2009 through 6 p.m. on August 2,
2009. This action is necessary and
intended to ensure safety of life on the
navigable waters immediately prior to,
during, and immediately after regattas
or marine parades. This rule will
establish restrictions upon, and control
movement of, vessels in specified areas
immediately prior to, during, and
immediately after regattas or marine
parades. During the enforcement
periods, no person or vessel may enter
the regulated areas without permission
of the Captain of the Port.
DATES: The regulations in 33 CFR 100
will be enforced as listed in the
SUPPLEMENTARY INFORMATION section of
this document.
FOR FURTHER INFORMATION CONTACT: CDR
Joseph Snowden, Prevention, U.S. Coast
Guard Sector Detroit, 110 Mount Elliot
Ave., Detroit, MI 48207; (313) 568–9508.
SUPPLEMENTARY INFORMATION: The Coast
Guard will enforce the following
regulated areas which were published in
the July 18, 2008 issue of the Federal
Register. (73 FR 41261):
§ 100.918 Detroit APBA Gold Cup,
Detroit, MI. This regulation is effective
from 7 a.m. on July 9, 2009 until 7 p.m.
on July 12, 2009. This regulation will be
enforced daily from 7 a.m. to 7 p.m. on
July 9, 10, 11, and 12, 2009.
§ 100.920 Tug Across the River,
Detroit, MI. This regulation is effective
from 5:30 p.m. to 7 p.m. on July 17,
2009.
§ 100.914 Trenton Rotary Roar on
the River, Trenton, MI. This regulation
is effective from 2 p.m. on July 24, 2009
VerDate Nov<24>2008
15:15 Jul 14, 2009
Jkt 217001
until 8 p.m. on July 26, 2009. This
regulation will be enforced from 2 p.m.
to 6 p.m. on July 24, 2009, from 8 a.m.
to 8 p.m. on July 25, 2009 and from 8
a.m. to 8 p.m. on July 26, 2009.
§ 100.915 St. Clair River Classic
Offshore Race, St. Clair, MI. This
regulation is effective from 10 a.m. on
July 31, 2009 until 6 p.m. on August 2,
2009. This regulation will be enforced
daily from 10 a.m. to 6 p.m. on July 31,
August 1, and August 2, 2009.
In accordance with the general
regulations in section 100.901 of this
part, entry into, transiting, or anchoring
within these regulated areas is
prohibited unless authorized by the
Captain of the Port Detroit or the Patrol
Commander.
These regulated areas are closed to all
vessel traffic, except as may be
permitted by the Captain of the Port
Detroit or the Patrol Commander.
Vessel operators given permission to
enter or operate in the regulated area
must comply with all directions given to
them by the Captain of the Port or the
Patrol Commander.
Dated: June 24, 2009.
F.M. Midgette,
Captain, U.S. Coast Guard, Captain of the
Port Detroit.
[FR Doc. E9–16684 Filed 7–14–09; 8:45 am]
BILLING CODE 4910–15–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 117
[USCG–2009–0233]
RIN 1625–AA09
Drawbridge Operation Regulation;
Manasquan River, NJ
Coast Guard, DHS.
Final rule.
AGENCY:
ACTION:
SUMMARY: The Coast Guard is removing
the existing drawbridge operation
regulation for the Route 70 Bridge, mile
3.4, across Manasquan River at Riviera
Beach, NJ. The existing bridge has been
modified by permit from a movable
bridge to a fixed bridge. Since the bridge
is no longer a movable bridge, the
regulation controlling the opening and
closing of the bridge in no longer
necessary.
DATES:
This rule is effective July 15,
2009.
Documents indicated in this
preamble as being available in the
docket, are part of docket USCG–2009–
ADDRESSES:
PO 00000
Frm 00031
Fmt 4700
Sfmt 4700
34239
0233 and are available online by going
to https://www.regulations.gov, selecting
the Advanced Docket Search option on
the right side of the screen, inserting
USCG–2009–0233 in the Docket ID box,
pressing Enter, and then clicking on the
item in the Docket ID column. This
material is also available for inspection
or copying at the Docket Management
Facility (M–30), U.S. Department of
Transportation, West Building Ground
Floor, Room W12–140, 1200 New Jersey
Avenue, SE., Washington, DC 20590,
between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
FOR FURTHER INFORMATION CONTACT: If
you have questions on this rule, call
Waverly W. Gregory, Jr., Bridge
Administrator, Fifth Coast Guard
District, at (757) 398–6222. If you have
questions on viewing or submitting
material to the docket, call Renee V.
Wright, Program Manager, Docket
Operations, telephone 202–366–9826.
SUPPLEMENTARY INFORMATION: The Coast
Guard is issuing this final rule without
prior notice and opportunity to
comment pursuant to authority under
section 4(a) of the Administrative
Procedure Act (APA) (5 U.S.C. 553(b)).
This provision authorizes an agency to
issue a rule without prior notice and
opportunity to comment when the
agency for good cause finds that those
procedures are ‘‘impracticable,
unnecessary, or contrary to the public
interest.’’ Under 5 U.S.C. 553(b)(B), the
Coast Guard finds that good cause exists
for not publishing a notice of proposed
rulemaking (NPRM) with respect to this
rule because the bridge that the
regulation governed has been modified
from a movable bridge to a fixed bridge
and does not open for the passage of
vessels.
Under 5 U.S.C. 553(d)(3), the Coast
Guard finds that good cause exists for
making this rule effective in less than 30
days after publication in the Federal
Register because this rule removes the
regulation used for the operation of a
movable bridge that has been modified
to become a fixed bridge. The
modification has already taken place
and the removal of the regulation will
not affect mariners.
Background and Purpose
On September 23, 2005, a Coast Guard
Bridge Permit (2–05–5) was issued to
the New Jersey Department of
Transportation (NJDOT) to replace the
existing single-leaf bascule bridge,
which carries Route 70 over Manasquan
River at Riviera Beach, NJ, with a new
fixed bridge. NJDOT completed
construction for a new fixed bridge in
December 2008.
E:\FR\FM\15JYR1.SGM
15JYR1
]]>Agencies
[Federal Register Volume 74, Number 134 (Wednesday, July 15, 2009)]
[Rules and Regulations]
[Pages 34237-34239]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-16770]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
29 CFR Part 4022
Benefits Payable in Terminated Single-Employer Plans; Interest
Assumptions for Valuing and Paying Benefits
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: Pension Benefit Guaranty Corporation's regulation on Benefits
Payable in Terminated Single-Employer Plans prescribes interest
assumptions for valuing and paying certain benefits under terminating
single[pi]employer plans. This final rule amends the benefit payments
regulation to adopt interest assumptions for plans with valuation dates
in August 2009. Interest assumptions are also published on PBGC's Web
site (https://www.pbgc.gov).
DATES: Effective August 1, 2009.
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: PBGC's regulations prescribe actuarial
assumptions--including interest assumptions--for valuing and paying
plan benefits of terminating single-employer plans covered by title IV
of the Employee Retirement Income Security Act of 1974. The interest
assumptions are intended to reflect current conditions in the financial
and annuity markets.
[[Page 34238]]
These interest assumptions are found in two PBGC regulations: the
regulation on Benefits Payable in Terminated Single-Employer Plans (29
CFR Part 4022) and the regulation on Allocation of Assets in Single-
Employer Plans (29 CFR Part 4044). Assumptions under the asset
allocation regulation are updated quarterly; assumptions under the
benefit payments regulation are updated monthly. This final rule
updates only the assumptions under the benefit payments regulation.
Two sets of interest assumptions are prescribed under the benefit
payments regulation: (1) A set for PBGC to use to determine whether a
benefit is payable as a lump sum and to determine lump-sum amounts to
be paid by PBGC (found in Appendix B to Part 4022), and (2) a set for
private-sector pension practitioners to refer to if they wish to use
lump-sum interest rates determined using PBGC's historical methodology
(found in Appendix C to Part 4022).
This amendment (1) adds to Appendix B to Part 4022 the interest
assumptions for PBGC to use for its own lump-sum payments in plans with
valuation dates during August 2009, and (2) adds to Appendix C to Part
4022 the interest assumptions for private-sector pension practitioners
to refer to if they wish to use lump-sum interest rates determined
using PBGC's historical methodology for valuation dates during August
2009.
The interest assumptions that PBGC will use for its own lump-sum
payments (set forth in Appendix B to part 4022) will be 3.00 percent
for the period during which a benefit is in pay status and 4.00 percent
during any years preceding the benefit's placement in pay status. These
interest assumptions represent a decrease (from those in effect for
July 2009) of 0.75 percent in the immediate annuity rate and are
otherwise unchanged. For private-sector payments, the interest
assumptions (set forth in Appendix C to part 4022) will be the same as
those used by PBGC for determining and paying lump sums (set forth in
Appendix B to part 4022).
PBGC has determined that notice and public comment on this
amendment are impracticable and contrary to the public interest. This
finding is based on the need to determine and issue new interest
assumptions promptly so that the assumptions can reflect current market
conditions as accurately as possible.
Because of the need to provide immediate guidance for the valuation
and payment of benefits in plans with valuation dates during August
2009, PBGC finds that good cause exists for making the assumptions set
forth in this amendment effective less than 30 days after publication.
PBGC has determined that this action is not a ``significant
regulatory action'' under the criteria set forth in Executive Order
12866.
Because no general notice of proposed rulemaking is required for
this amendment, the Regulatory Flexibility Act of 1980 does not apply.
See 5 U.S.C. 601(2).
List of Subjects in 29 CFR Part 4022
Employee benefit plans, Pension insurance, Pensions, Reporting and
recordkeeping requirements.
0
In consideration of the foregoing, 29 CFR part 4022 is amended as
follows:
PART 4022--BENEFITS PAYABLE IN TERMINATED SINGLE-EMPLOYER PLANS
0
1. The authority citation for part 4022 continues to read as follows:
Authority: 29 U.S.C. 1302, 1322, 1322b, 1341(c)(3)(D), and 1344.
0
2. In appendix B to part 4022, Rate Set 190, as set forth below, is
added to the table.
Appendix B to Part 4022--Lump Sum Interest Rates for PBGC Payments
* * * * *
----------------------------------------------------------------------------------------------------------------
For plans with a Immediate Deferred annuities (percent)
valuation date annuity ----------------------------------------
Rate set -------------------------- rate
On or after Before (percent) i1 i2 i3 n1 n2
----------------------------------------------------------------------------------------------------------------
* * * * * * *
190............................. 8-1-09 9-1-09 3.00 4.00 4.00 4.00 7 8
----------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 190, as set forth below, is
added to the table.
Appendix C to Part 4022--Lump Sum Interest Rates for Private-Sector
Payments
* * * * *
----------------------------------------------------------------------------------------------------------------
For plans with a Immediate Deferred annuities (percent)
valuation date annuity ----------------------------------------
Rate set -------------------------- rate
On or after Before (percent) i1 i2 i3 n1 n2
----------------------------------------------------------------------------------------------------------------
* * * * * * *
190............................. 8-1-09 9-1-09 3.00 4.00 4.00 4.00 7 8
----------------------------------------------------------------------------------------------------------------
[[Page 34239]]
Issued in Washington, DC, on this 8th day of July 2009.
Vincent K. Snowbarger,
Acting Director, Pension Benefit Guaranty Corporation.
[FR Doc. E9-16770 Filed 7-14-09; 8:45 am]
BILLING CODE 7709-01-P
