Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 2015-2017 [2012-586]
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Federal Register / Vol. 77, No. 9 / Friday, January 13, 2012 / Rules and Regulations
of the Notice of Intent to Discipline filed
by DHS shall be forwarded to the EOIR
disciplinary counsel, who may submit a
written request to the Board or the
adjudicating official requesting that any
discipline imposed upon a practitioner
that restricts his or her authority to
practice before DHS also apply to the
practitioner’s authority to practice
before the Board and the Immigration
Courts. Proof of service on the
practitioner of any request to broaden
the scope of the proposed discipline
must be filed with the adjudicating
official.
*
*
*
*
*
■ 5. Amend § 1003.106 by:
■ a. Revising paragraph (a)(1);
■ b. Adding paragraph (a)(2)
introductory text; and by
■ c. Removing from the first sentence in
paragraph (a)(2)(ii) the words ‘‘Except as
provided in §§ 1003.105(c)(3), upon’’
and adding in their place ‘‘Upon’’.
The addition and revision read as
follows:
rmajette on DSK2TPTVN1PROD with RULES
§ 1003.106 Right to be heard and
disposition.
(a) * * *
(1) Summary disciplinary
proceedings. A practitioner who is
subject to summary disciplinary
proceedings pursuant to § 1003.103(b)
must make a prima facie showing to the
Board in his or her answer that there is
a material issue of fact in dispute with
regard to the basis for summary
disciplinary proceedings, or with one or
more of the exceptions set forth in
§ 1003.103(b)(2)(i) through (iii). If the
practitioner files a timely answer and
the Board determines that there is a
material issue of fact in dispute with
regard to the basis for summary
disciplinary proceedings, or with one or
more of the exceptions set forth in
§ 1003.103(b)(2)(i) through (iii), then the
Board shall refer the case to the Chief
Immigration Judge for the appointment
of an adjudicating official. If the
practitioner fails to make such a prima
facie showing, the Board shall retain
jurisdiction over the case and issue a
final order. Notwithstanding the
foregoing, the Board shall refer any case
to the Chief Immigration Judge for the
appointment of an adjudicating official
in which the practitioner has filed a
timely answer and the case involves a
charge or charges that cannot be
adjudicated under the summary
disciplinary proceedings provisions in
§ 1003.103(b). The Board shall refer
such a case regardless of whether the
practitioner has requested a hearing.
(2) Procedure. The procedures of
paragraphs (b) through (d) of this
section apply to cases in which the
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practitioner files a timely answer to the
Notice of Intent to Discipline, with the
exception of cases in which the Board
issues a final order pursuant to
§ 1003.105(d)(2) or § 1003.106(a)(1).
*
*
*
*
*
§ 1003.107
2015
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 33
[Docket No. NE130; Special Conditions No.
33–008–SC]
[Amended]
6. Amend § 1003.107 by:
■ a. Removing from the section heading
the word ‘‘expulsion’’ and adding in its
place the word ‘‘disbarment’’.
■ b. Removing from paragraph (a) the
words ‘‘the Service’’ and adding in their
place the term ‘‘DHS’’;
■ c. Removing from the first sentence of
paragraph (b) introductory text the word
‘‘expelled’’ and adding in its place the
word ‘‘disbarred’’;
■ d. Removing from the third sentence
of paragraph (b) introductory text the
word ‘‘expelled’’ and adding in its place
the word ‘‘disbarred’’;
■ e. Removing from the second sentence
of paragraph (b)(1) the word ‘‘expelled’’
and adding in its place the word
‘‘disbarred’’; and by
■ f. Removing from the second sentence
of paragraph (b)(1) the word
‘‘expulsion’’ and adding in its place the
word ‘‘disbarment’’.
■
PART 1292—REPRESENTATION AND
APPEARANCES
Special Conditions: Pratt and Whitney
Canada Model PW210S Turboshaft
Engine
Correction
In rule document 2011–14113
appearing on pages 33981–33982 in the
issue of Friday, June 10, 2011, make the
following correction:
On page 33981, in the first column, in
the heading, Special Conditions No.
‘‘33–008–SCI’’ should read ‘‘33–008–
SC’’.
[FR Doc. C1–2011–14113 Filed 1–12–12; 8:45 am]
BILLING CODE 1505–01–D
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
February 2012. The interest
assumptions are used for paying
benefits under terminating singleemployer plans covered by the pension
insurance system administered by
PBGC.
SUMMARY:
7. The authority citation for part 1292
continues to read as follows:
■
Authority: 8 U.S.C. 1103, 1252b, 1362.
8. Section 1292.3 is revised to read as
follows:
■
§ 1292.3 Professional conduct for
practitioners—Rules and procedures.
Attorneys and representatives
practicing before the Board, the
Immigration Courts, or DHS are subject
to the imposition of disciplinary
sanctions as provided in 8 CFR part
1003, subpart G, § 1003.101 et seq. See
also 8 CFR 292.3 (pertaining to practice
before DHS).
Dated: January 3, 2012.
Eric H. Holder, Jr.,
Attorney General.
[FR Doc. 2012–602 Filed 1–12–12; 8:45 am]
BILLING CODE 4410–30–P
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DATES:
Effective February 1, 2012.
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
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2016
Federal Register / Vol. 77, No. 9 / Friday, January 13, 2012 / Rules and Regulations
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 February 2012.1
The February 2012 interest
assumptions under the benefit payments
regulation will be 1.25 percent for the
Rate set
For plans with a valuation
date
On or after
*
220
Before
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 2012,
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 February 2012, 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.
3. In appendix C to part 4022, Rate Set
220, as set forth below, is added to the
table.
■
For plans with a valuation
date
On or after
*
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220
Before
*
2–1–12
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*
*
4.00
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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
220, as set forth below, is added to the
table.
■
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
*
*
*
*
*
i3
*
n1
*
4.00
n2
*
7
8
n1
n2
*
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
*
Jkt 226001
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
3–1–12
1 Appendix B to PBGC’s regulation on Allocation
of Assets in Single-Employer Plans (29 CFR Part
4044) prescribes interest assumptions for valuing
Employee benefit plans, Pension
insurance, Pensions, Reporting and
recordkeeping requirements.
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
i2
*
4.00
1.25
*
Rate set
i1
*
3–1–12
List of Subjects in 29 CFR Part 4022
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
*
2–1–12
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).
1.25
i1
i2
*
4.00
4.00
i3
*
benefits under terminating covered single-employer
plans for purposes of allocation of assets under
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*
4.00
*
7
8
ERISA section 4044. Those assumptions are
updated quarterly.
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Federal Register / Vol. 77, No. 9 / Friday, January 13, 2012 / Rules and Regulations
Issued in Washington, DC, on this 10th day
of January 2012.
Laricke Blanchard,
Deputy Director for Policy, Pension Benefit
Guaranty Corporation.
[FR Doc. 2012–586 Filed 1–12–12; 8:45 am]
BILLING CODE 7709–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR PART 165
[Docket No. USCG–2011–1161]
RIN 1625–AA00
Safety Zone; Ice Rescue Exercise;
Green Bay, Dyckesville, WI
Coast Guard, DHS.
ACTION: Temporary final rule.
AGENCY:
The Coast Guard is
establishing a temporary safety zone on
the waters of Green Bay near
Dyckesville, Wisconsin. This zone is
intended to restrict vessels and persons
from a portion of Green Bay due to a
large scale ice rescue exercise that will
involve multiple State and Federal
agencies. This temporary safety zone is
necessary to protect the surrounding
public and vessels from the hazards
associated with the ice rescue exercise.
DATES: This rule is effective between
7 a.m. on January 17, 2012, and 7 a.m.
on January 20, 2012.
ADDRESSES: Documents indicated in this
preamble as being available in the
docket are part of docket USCG–2011–
1161 and are available online by going
to www.regulations.gov, inserting
USCG–2011–1161 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, contact or email BM1 Adam Kraft,
U.S. Coast Guard Sector Lake Michigan,
at (414) 747–7148 or
Adam.D.Kraft@uscg.mil. If you have
questions on viewing the docket, call
Renee V. Wright, Program Manager,
Docket Operations, telephone (202)
366–9826.
SUPPLEMENTARY INFORMATION:
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SUMMARY:
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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 an agency for good
cause finds that those procedures are
‘‘impracticable, unnecessary, or contrary
to the public interest.’’ Under 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. The final details for the
ice rescue exercise were not received by
the Coast Guard in sufficient time for a
comment period to run before the start
of the event. Thus, waiting for a
comment period to run would inhibit
the Coast Guard from performing its
statutory function of protecting life on
navigable waters during the ice rescue
exercise and thus would be impractical
and contrary to the public interest.
Under 5 U.S.C. 553(d)(3), the Coast
Guard finds that good cause exists for
making this rule effective less than 30
days after publication in the Federal
Register. For the same reasons
discussed in the preceding paragraph, a
30 day notice period would be
impractical and contrary to the public
interest.
2017
January 17, 2012 and 7 a.m. on January
20, 2012.
All persons and vessels shall comply
with the instructions of the Coast Guard
Captain of the Port, Sector Lake
Michigan, or his or her designated
representative. Entry into, transiting, or
anchoring within the safety zone is
prohibited unless authorized by the
Captain of the Port, Sector Lake
Michigan, or his or her designated
representative. The Captain of the Port,
Sector Lake Michigan, or his or her
designated representative may be
contacted via VHF Channel 16.
Regulatory Analyses
We developed this rule after
considering numerous statutes and
executive orders related to rulemaking.
Below we summarize our analyses
based on 13 of these statutes or
executive orders.
Discussion of Rule
Regulatory Planning and Review
This rule is not a significant
regulatory action under section 3(f) of
Executive Order 12866, Regulatory
Planning and Review, as supplemented
by Executive Order 13563, Improving
Regulation and Regulatory Review, and
does not require an assessment of
potential costs and benefits under
section 6(a)(3) of Executive Order
12866. The Office of Management and
Budget has not reviewed it under that
Order.
We conclude that this rule is not a
significant regulatory action because we
anticipate that it will have minimal
impact on the economy, will not
interfere with other agencies, will not
adversely alter the budget of any grant
or loan recipients, and will not raise any
novel legal or policy issues. The safety
zone created by this rule will be
relatively small and exist for relatively
short time. Thus, restrictions on vessel
movement within that particular area
are expected to be minimal. Under
certain conditions, moreover, vessels
may still transit through the safety zone
when permitted by the Captain of the
Port.
With the aforementioned hazards in
mind, the Captain of the Port Sector
Lake Michigan has determined that it is
necessary to establish a temporary safety
zone to protect people and vessels. The
safety zone will encompass all U.S.
navigable waters of Green Bay within
the arc of a circle with a 2000-yard
radius of the Red River county park
with its center point located with its
center in the approximate position
44°40′00″ N, 087°45′00″ W. [DATUM:
NAD 83]. This safety zone will be
effective and enforce between 7 a.m. on
Small Entities
Under the Regulatory Flexibility Act
(5 U.S.C. 601–612), we have considered
whether this rule will have a significant
economic impact on a substantial
number of small entities. The term
‘‘small entities’’ comprises small
businesses, not-for-profit organizations
that are independently owned and
operated and are not dominant in their
fields, and governmental jurisdictions
with populations of less than 50,000.
The Coast Guard certifies under 5
U.S.C. 605(b) that this rule will not have
Background and Purpose
Local, state, and federal officials have
set up an ice rescue exercise on the
waters of Green Bay. This exercise will
provide a realistic simulation of a large
scale ice rescue response that would
include the efforts of multiple local,
State, and Federal agencies. These
exercises are meant to establish and
maintain continuity in the response
efforts of multiple agencies. The Captain
of the Port Sector Lake has determined
that this ice rescue exercise will pose
hazards to the public.
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]]>Agencies
[Federal Register Volume 77, Number 9 (Friday, January 13, 2012)]
[Rules and Regulations]
[Pages 2015-2017]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-586]
=======================================================================
-----------------------------------------------------------------------
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 February 2012. The interest assumptions are used
for paying benefits under terminating single-employer plans covered by
the pension insurance system administered by PBGC.
DATES: Effective February 1, 2012.
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
[[Page 2016]]
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 February 2012.\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 2012 interest assumptions under the benefit payments
regulation will be 1.25 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 January 2012, 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 February 2012, 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.
0
2. In appendix B to part 4022, Rate Set 220, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
220 2-1-12 3-1-12 1.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 220, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
220 2-1-12 3-1-12 1.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 2017]]
Issued in Washington, DC, on this 10th day of January 2012.
Laricke Blanchard,
Deputy Director for Policy, Pension Benefit Guaranty Corporation.
[FR Doc. 2012-586 Filed 1-12-12; 8:45 am]
BILLING CODE 7709-01-P
