Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 2578-2579 [2011-725]
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Federal Register / Vol. 76, No. 10 / Friday, January 14, 2011 / Rules and Regulations
made on or after December 18, 2004,
after any of the following:
(1) The date of notice of liquidation or
reliquidation, or the date of liquidation
or reliquidation, as determined under
§§ 159.9 or 159.10 of this chapter;
(2) The date of the decision, involving
neither a liquidation nor reliquidation,
as to which the protest is made (for
example: The date of an exaction; the
date of written notice excluding
merchandise from entry, delivery or
demanding redelivery to CBP custody
under any provision of the customs
laws; the date of written notice of a
denial of a claim filed under section
520(d), Tariff Act of 1930, as amended
(19 U.S.C. 1520(d)), or; within 90 days
of the date of denial of a petition filed
pursuant to section 520(c)(1), Tariff Act
of 1930, as amended (19 U.S.C.
1520(c)(1)), relating to an entry made
before December 18, 2004); or
*
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■ 20. Section 174.14, paragraphs (a) and
(b) are revised to read as follows:
srobinson on DSKHWCL6B1PROD with RULES
§ 174.14
Amendment of protests.
(a) Time for filing. A protest may be
amended at any time prior to the
expiration of the period within which
the protest may be filed under
§ 174.12(e). The amendment may assert
additional claims pertaining to the
administrative decision that is the
subject of the protest, or may challenge
an additional administrative decision
relating to the same category of
merchandise that is the subject of the
protest. For the presentation of
additional grounds or arguments in
support of a valid protest after the
applicable protest period set forth in
§ 174.12(e) has expired, see § 174.28.
(b) Form and number of copies of
amendment. If the protest was not filed
electronically, an amendment to the
protest must be filed in quadruplicate
on CBP Form 19 or on a form of the
same size, clearly labeled ‘‘Amendment
to Protest’’ at the top of the form.
Schedules or other attachments (other
than samples or similar exhibits) must
also be filed in quadruplicate. A protest
that was transmitted to CBP
electronically may be amended only
through an electronic data interchange
system authorized by CBP for that
purpose. Electronic submissions are not
required to be filed in quadruplicate.
*
*
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■ 21. Section 174.22, paragraph (a) is
revised to read as follows:
§ 174.22
protest.
Accelerated disposition of
(a) Request for accelerated
disposition. Accelerated disposition of a
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17:19 Jan 13, 2011
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protest filed in accordance with section
514, Tariff Act of 1930, as amended
(19 U.S.C. 1514) may be obtained at any
time after 90 days from the filing of such
protest for entries made before
December 18, 2004, or at any time
concurrent with or following the filing
of the protest for entries made on or
after December 18, 2004, by filing by
registered or certified mail a written
request for accelerated disposition with
the port director or other CBP officer
with whom the protest was filed.
*
*
*
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■ 22. Section 174.32 is revised to read
as follows:
§ 174.32
Publication.
Within 90 calendar days after issuing
a protest review decision, CBP will
publish the decision in the Customs
Bulletin or otherwise make it available
for public inspection. Disclosure is
governed by 6 CFR part 5 and 19 CFR
part 103.
Dated: January 10, 2011.
Alan Bersin,
Commissioner, U.S. Customs and Border
Protection.
[FR Doc. 2011–679 Filed 1–13–11; 8:45 am]
BILLING CODE 9111–14–P
PENSION BENEFIT GUARANTY
CORPORATION
29 CFR Part 4022
Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions
for Paying Benefits
Pension Benefit Guaranty
Corporation.
ACTION: Final rule.
AGENCY:
This final rule amends
Pension Benefit Guaranty Corporation’s
regulation on Benefits Payable in
Terminated Single-Employer Plans to
prescribe interest assumptions under
the regulation for valuation dates in
February 2011. Interest assumptions are
also published on PBGC’s Web site
(https://www.pbgc.gov).
DATES: Effective February 1, 2011.
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
regulation on Benefits Payable in
SUMMARY:
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Terminated Single-Employer Plans (29
CFR part 4022) prescribes actuarial
assumptions—including interest
assumptions—for paying plan benefits
under terminating single-employer
plans covered by title IV of the
Employee Retirement Income Security
Act of 1974.
PBGC uses the interest assumptions in
Appendix B to part 4022 to determine
whether a benefit is payable as a lump
sum and to determine the amount to
pay. Appendix C to part 4022 contains
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. Currently, the rates in
Appendices B and C of the benefit
payment regulation are the same.
The interest assumptions are intended
to reflect current conditions in the
financial and annuity markets.
Assumptions under the benefit
payments regulation are updated
monthly. This final rule updates the
benefit payments interest assumptions
for February 2011.1
The February 2011 interest
assumptions under the benefit payments
regulation will be 2.50 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. In comparison with the interest
assumptions in effect for January 2011,
these interest assumptions represent an
increase of 0.25 percent in the
immediate annuity rate and are
otherwise unchanged.
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 payment of
benefits under plans with valuation
dates during February 2011, 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.
1 Appendix B to PBGC’s regulation on Allocation
of Assets in Single-Employer Plans (29 CFR part
4044) prescribes interest assumptions for valuing
benefits under terminating covered single-employer
plans for purposes of allocation of assets under
ERISA section 4044. Those assumptions are
updated quarterly.
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14JAR1
2579
Federal Register / Vol. 76, No. 10 / Friday, January 14, 2011 / Rules and Regulations
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.
On or after
*
Before
3–1–11
3. In appendix C to part 4022, Rate Set
208, as set forth below, is added to the
table.
■
For plans with a valuation
date
On or after
*
Before
*
208
BILLING CODE 7709–01–P
DEPARTMENT OF HOMELAND
SECURITY
33 CFR Part 165
[Docket No. USCG–2010–1112]
RIN 1625–AA00
Safety Zone; Lake Mead Intake
Construction, Lake Mead, Boulder City,
NV
Coast Guard, DHS.
Temporary final rule.
AGENCY:
The Coast Guard is
establishing a safety zone on the
navigable waters of Lake Mead in
support of the construction project for
Lake Mead’s Intake #3 during the first
6 months of 2011. Blasting will take
place at regular intervals at the location
and in the manner set forth herein. This
safety zone is necessary to ensure
srobinson on DSKHWCL6B1PROD with RULES
SUMMARY:
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17:19 Jan 13, 2011
Jkt 223001
4.00
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i3
*
n1
*
4.00
n2
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7
8
n1
n2
*
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
2.50
i1
i2
*
4.00
4.00
i3
*
unauthorized personnel and vessels
remain safe by keeping clear of the
hazardous area during blasting
operations. Persons and vessels are
prohibited from entering into, transiting
through, or anchoring within this safety
zone unless authorized by the Captain
of the Port (COTP) or his designated
representative.
This rule is effective in the CFR
on January 14, 2011 through June 30,
2011. This rule is effective with actual
notice for purposes of enforcement from
January 1, 2011 until June 30, 2011.
ADDRESSES: Documents indicated in this
preamble as being available in the
docket are part of docket USCG–2010–
1112 and are available online by going
to https://www.regulations.gov, inserting
USCG–2010–1112 in the ‘‘Keyword’’
box, and then clicking ‘‘Search.’’ They
are 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 temporary
rule, call or e-mail BM1 Shane Jackson,
Waterways Management, U.S. Coast
DATES:
Coast Guard
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Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
3–1–11
[FR Doc. 2011–725 Filed 1–13–11; 8:45 am]
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4.00
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2–1–11
Issued in Washington, DC, on this 10th day
of January 2011.
Vincent K. Snowbarger,
Deputy Director for Operations, Pension
Benefit Guaranty Corporation.
ACTION:
i1
2.50
*
Rate set
*
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
*
2–1–11
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
1. The authority citation for part 4022
continues to read as follows:
*
208
2. In appendix B to part 4022, Rate Set
208, as set forth below, is added to the
table.
■
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
■
For plans with a valuation
date
Rate set
Authority: 29 U.S.C. 1302, 1322, 1322b,
1341(c)(3)(D), and 1344.
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
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Guard Sector San Diego, Coast Guard;
telephone 619–278–7267, e-mail
Shane.E.Jackson@uscg.mil. If you have
questions on viewing the docket, call
Renee V. Wright, Program Manager,
Docket Operations, telephone 202–366–
9826.
SUPPLEMENTARY INFORMATION:
Regulatory Information
The Coast Guard is issuing this
temporary 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 such
publication would be impractical given
the timing of the construction.
Immediate action is necessary to ensure
the safety of commercial and
recreational vessels in the vicinity of
any blasting on the dates and times this
rule will be in effect.
E:\FR\FM\14JAR1.SGM
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]]>Agencies
[Federal Register Volume 76, Number 10 (Friday, January 14, 2011)]
[Rules and Regulations]
[Pages 2578-2579]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-725]
=======================================================================
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PENSION BENEFIT GUARANTY CORPORATION
29 CFR Part 4022
Benefits Payable in Terminated Single-Employer Plans; Interest
Assumptions for Paying Benefits
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: This final rule amends Pension Benefit Guaranty Corporation's
regulation on Benefits Payable in Terminated Single-Employer Plans to
prescribe interest assumptions under the regulation for valuation dates
in February 2011. Interest assumptions are also published on PBGC's Web
site (https://www.pbgc.gov).
DATES: Effective February 1, 2011.
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 regulation on Benefits Payable in
Terminated Single-Employer Plans (29 CFR part 4022) prescribes
actuarial assumptions--including interest assumptions--for paying plan
benefits under terminating single-employer plans covered by title IV of
the Employee Retirement Income Security Act of 1974.
PBGC uses the interest assumptions in Appendix B to part 4022 to
determine whether a benefit is payable as a lump sum and to determine
the amount to pay. Appendix C to part 4022 contains 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. Currently, the rates in Appendices B and C of
the benefit payment regulation are the same.
The interest assumptions are intended to reflect current conditions
in the financial and annuity markets. Assumptions under the benefit
payments regulation are updated monthly. This final rule updates the
benefit payments interest assumptions for February 2011.\1\
---------------------------------------------------------------------------
\1\ Appendix B to PBGC's regulation on Allocation of Assets in
Single-Employer Plans (29 CFR part 4044) prescribes interest
assumptions for valuing benefits under terminating covered single-
employer plans for purposes of allocation of assets under ERISA
section 4044. Those assumptions are updated quarterly.
---------------------------------------------------------------------------
The February 2011 interest assumptions under the benefit payments
regulation will be 2.50 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. In comparison with the interest
assumptions in effect for January 2011, these interest assumptions
represent an increase of 0.25 percent in the immediate annuity rate and
are otherwise unchanged.
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 payment
of benefits under plans with valuation dates during February 2011, 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.
[[Page 2579]]
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.
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 208, 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 valuation date Immediate Deferred annuities (percent)
Rate set ---------------------------------- annuity rate ------------------------------------------------------------------------------------
On or after Before (percent) i1 i2 i3 n1 n2
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
208 2-1-11 3-1-11 2.50 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 208, 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 valuation date Immediate Deferred annuities (percent)
Rate set ---------------------------------- annuity rate ------------------------------------------------------------------------------------
On or after Before (percent) i1 i2 i3 n1 n2
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
208 2-1-11 3-1-11 2.50 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC, on this 10th day of January 2011.
Vincent K. Snowbarger,
Deputy Director for Operations, Pension Benefit Guaranty Corporation.
[FR Doc. 2011-725 Filed 1-13-11; 8:45 am]
BILLING CODE 7709-01-P
