Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 41689-41690 [2011-17931]
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Federal Register / Vol. 76, No. 136 / Friday, July 15, 2011 / Rules and Regulations
IX. References
The following reference has been
placed on display in the Division of
Dockets Management (see ADDRESSES)
and may be seen by interested persons
between 9 a.m. and 4 p.m., Monday
through Friday. (FDA has verified the
Web site address, but FDA is not
responsible for any subsequent changes
to the Web sites after this document
publishes in the Federal Register).
1. Evaluations of the Joint FAO/WHO
Expert Committee on Food Additives
(JECFA), Hydroxypropyl Cellulose
Toxicology Monograph 687, FAS 26–
JECFA 35/85, 1989; https://apps.who.int
/ipsc/database/evaluations/search.aspx.
List of Subjects in 21 CFR Part 172
Food additives, Reporting and
recordkeeping requirements.
Therefore, under the Federal Food,
Drug, and Cosmetic Act and under
authority delegated to the Commissioner
of Food and Drugs and redelegated to
the Director, Center for Food Safety and
Applied Nutrition, 21 CFR part 172 is
amended as follows:
PART 172—FOOD ADDITIVES
PERMITTED FOR DIRECT ADDITION
TO FOOD FOR HUMAN
CONSUMPTION
1. The authority citation for 21 CFR
part 172 continues to read as follows:
■
Authority: 21 U.S.C. 321, 341, 342, 348,
371, 379e.
2. Section 172.870 is amended by
revising paragraphs (a)(1) and (b)(1) to
read as follows:
■
§ 172.870
Hydroxypropyl cellulose.
mstockstill on DSK4VPTVN1PROD with RULES
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*
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*
(a) * * *
(1) A cellulose ether containing
propylene glycol groups attached by an
ether linkage that contains, on an
anhydrous basis, not more than 4.6
hydroxypropyl groups per
anhydroglucose unit. The additive has a
minimum viscosity of 10 centipoises for
a 10 percent by weight aqueous solution
at 25 degrees C.
*
*
*
*
*
(b) * * *
(1) The additive identified in
paragraph (a)(1) of this section is used
or intended for use as an emulsifier,
film former, protective colloid,
stabilizer, suspending agent, or
thickener in food, in accordance with
good manufacturing practice. The
additive also may be used as a binder
in dietary supplements, in accordance
with good manufacturing practice.
*
*
*
*
*
VerDate Mar<15>2010
15:47 Jul 14, 2011
Jkt 223001
Dated: July 6, 2011.
Susan M. Bernard,
Acting Director, Office of Regulations, Policy
and Social Sciences, Center for Food Safety
and Applied Nutrition.
[FR Doc. 2011–17928 Filed 7–14–11; 8:45 am]
BILLING CODE 4160–01–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 the
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
August 2011. The interest assumptions
are used for paying benefits under
terminating single-employer plans
covered by the pension insurance
system administered by PBGC.
DATES: Effective August 1, 2011.
FOR FURTHER INFORMATION CONTACT:
Catherine B. Klion
(Klion.Catherine@pbgc.gov), 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 tollfree 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. The interest assumptions in
the regulation are also published on
PBGC’s Web site (https://www.pbgc.gov).
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.
SUMMARY:
PO 00000
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Fmt 4700
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41689
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 August 2011.1
The August 2011 interest assumptions
under the benefit payments regulation
will be 2.25 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 July 2011,
these interest assumptions are
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 August 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.
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
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.
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.
E:\FR\FM\15JYR1.SGM
15JYR1
41690
Federal Register / Vol. 76, No. 136 / Friday, July 15, 2011 / Rules and Regulations
2. In appendix B to part 4022, Rate Set
214, as set forth below, is added to the
table.
■
For plans with a valuation
date
Rate set
On or after
*
Before
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
*
9–1–11
3. In appendix C to part 4022, Rate Set
214, as set forth below, is added to the
table.
■
For plans with a valuation
date
On or after
*
Before
BILLING CODE 7709–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 165
[Docket No. USCG–2011–0578]
RIN 1625–AA00
Safety Zone; Chicago Harbor, Navy
Pier Southeast, Chicago, IL
Coast Guard, DHS.
Notice of enforcement of
regulation.
AGENCY:
ACTION:
The Coast Guard will enforce
the Navy Pier Southeast Safety Zone in
Chicago Harbor from August 3, 2011
through August 31, 2011. This action is
necessary and intended to ensure safety
of life on the navigable waters of the
United States immediately prior to,
during, and immediately after fireworks
events. During the aforementioned
period, the Coast Guard will enforce
restrictions upon, and control
movement of, vessels in a specified area
in Chicago Harbor. During the
enforcement period, no person or vessel
may enter the safety zone without
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SUMMARY:
15:47 Jul 14, 2011
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[FR Doc. 2011–17931 Filed 7–14–11; 8:45 am]
Jkt 223001
i2
*
4.00
4.00
*
*
i3
*
n1
*
4.00
n2
*
7
8
n1
n2
*
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
9–1–11
Issued in Washington, DC, on this 12th day
of July 2011.
Laricke Blanchard,
Deputy Director for Policy Pension Benefit
Guaranty Corporation.
VerDate Mar<15>2010
i1
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
*
8–1–11
*
Deferred annuities
(percent)
2.25
*
214
*
*
8–1–11
Rate set
*
Immediate
annuity rate
(percent)
*
214
*
2.25
i1
i2
*
4.00
i3
4.00
*
permission of the Captain of the Port,
Sector Lake Michigan.
DATES: The regulations in 33 CFR
165.931 will be enforced at various
times and on various dates between 9:15
p.m. on August 3, 2011 to 9:45 p.m. on
August 31, 2011.
FOR FURTHER INFORMATION CONTACT: If
you have questions on this notice, call
or e-mail BM1 Adam Kraft, Prevention
Department, Coast Guard Sector Lake
Michigan, Milwaukee, WI at 414–747–
7154, e-mail Adam.D.Kraft@uscg.mil.
SUPPLEMENTARY INFORMATION: The Coast
Guard will enforce the Safety Zone;
Chicago Harbor, Navy Pier Southeast,
Chicago, IL listed in 33 CFR 165.931 for
the following events:
(1) Navy Pier Fireworks; on August 3,
2011 from 9:15 p.m. through 9:45 p.m.;
on August 6, 2011 from 10: p.m. through
10:30 p.m.; on August 10, 2011 from
9:15 p.m. through 9:45 p.m.; on August
13, 2011 from 10 p.m. through 10:30
p.m.; on August 17, 2011 from 9:15 p.m.
through 9:45 p.m.; on August 20, 2011
from 10 p.m. through 10:30 p.m.; on
August 24, 2011 from 9:15 p.m. through
9:45 p.m.; on August 27, 2011 from 10
p.m. through 10:30 p.m.; and on August
31, 2011 from 9:15 p.m. through 9:45
p.m.
All vessels must obtain permission
from the Captain of the Port, Sector Lake
Michigan, or his or her on-scene
representative to enter, move within, or
exit the safety zone. Vessels and persons
granted permission to enter the safety
zone shall obey all lawful orders or
directions of the Captain of the Port,
PO 00000
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8
Sector Lake Michigan, or his or her onscene representative. While within the
safety zone, all vessels shall operate at
the minimum speed necessary to
maintain a safe course.
This notice is issued under authority
of 33 CFR 165.931 and 5 U.S.C. 552 (a).
In addition to this notice in the Federal
Register, the Coast Guard will provide
the maritime community with advance
notification of these enforcement
periods via broadcast Notice to Mariners
or Local Notice to Mariners. The
Captain of the Port, Sector Lake
Michigan, will issue a Broadcast Notice
to Mariners notifying the public when
enforcement of this safety zone is
suspended. If the Captain of the Port,
Sector Lake Michigan, determines that
the safety zone need not be enforced for
the full duration stated in this notice, he
or she may use a Broadcast Notice to
Mariners to grant general permission to
enter the safety zone. The Captain of the
Port, Sector Lake Michigan, or his or her
on-scene representative may be
contacted via VHF Channel 16.
Dated: June 29, 2011.
M.W. Sibley,
Captain, U.S. Coast Guard, Captain of the
Port Lake Michigan.
[FR Doc. 2011–17795 Filed 7–14–11; 8:45 am]
BILLING CODE 9110–04–P
E:\FR\FM\15JYR1.SGM
15JYR1
]]>Agencies
[Federal Register Volume 76, Number 136 (Friday, July 15, 2011)]
[Rules and Regulations]
[Pages 41689-41690]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-17931]
=======================================================================
-----------------------------------------------------------------------
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 the 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 August 2011. The interest assumptions are used
for paying benefits under terminating single-employer plans covered by
the pension insurance system administered by PBGC.
DATES: Effective August 1, 2011.
FOR FURTHER INFORMATION CONTACT: Catherine B. Klion
(Klion.Catherine@pbgc.gov), 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. The interest
assumptions in the regulation are also published on PBGC's Web site
(https://www.pbgc.gov).
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 August 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 August 2011 interest assumptions under the benefit payments
regulation will be 2.25 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 July 2011, these interest assumptions are
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 August 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.
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.
[[Page 41690]]
0
2. In appendix B to part 4022, Rate Set 214, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
214 8-1-11 9-1-11 2.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 214, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
214 8-1-11 9-1-11 2.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC, on this 12th day of July 2011.
Laricke Blanchard,
Deputy Director for Policy Pension Benefit Guaranty Corporation.
[FR Doc. 2011-17931 Filed 7-14-11; 8:45 am]
BILLING CODE 7709-01-P
