Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits, 14275-14276 [2012-5788]

Download as PDF 14275 Federal Register / Vol. 77, No. 47 / Friday, March 9, 2012 / Rules and Regulations ACTION: Correcting amendments. The Pension Benefit Guaranty Corporation published a final rule document in the Federal Register on September 15, 2011 (at 76 FR 56973), amending its regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under those regulations. This document corrects an inadvertent error in that final rule relating to the prescribed interest assumption under the allocation regulation, applicable to plans with valuation dates during the fourth quarter of 2011. DATES: Effective March 9, 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 SUMMARY: free at 1–800–877–8339 and ask to be connected to 202–326–4024.) SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation published a final rule document in the Federal Register of September 15, 2011 (at 76 FR 56973), amending its regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under those regulations. The rule inadvertently misstated the prescribed interest assumptions under the allocation regulation, applicable to plans with valuation dates during the fourth quarter of 2011. The errors appeared both in the preamble and in the amendatory instructions. In the preamble, the first full paragraph in the second column on p. 56974 should have read as follows: The fourth quarter 2011 interest assumptions under the allocation regulation will be 4.09 percent for the first 20 years following the valuation date and 4.30 percent thereafter. In comparison with the interest assumptions in effect for the third quarter of 2011, these interest assumptions represent no change in the select period (the period during which the select rate (the initial rate) applies), a decrease of 0.13 percent in the select rate, and a decrease of 0.04 percent in the ultimate rate (the final rate). List of Subjects in 29 CFR Part 4044 Employee benefit plans, Pension insurance, Pensions. In consideration of the foregoing, 29 CFR part 4044 is corrected by making the following correcting amendment: PART 4044—ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS 1. The authority citation for part 4044 continues to read as follows: ■ Authority: 29 U.S.C. 1301(a), 1302(b)(3), 1341, 1344, 1362. 2. In appendix B to part 4044, the entry for October–December 2011 is corrected to read as follows: ■ Appendix B to Part 4044—Interest Rates Used To Value Benefits * * * * * The values of it are: For valuation dates occurring in the months— it * * * October–December 2011 ................................................. * * [FR Doc. 2012–5786 Filed 3–8–12; 8:45 am] BILLING CODE 7709–01–P PENSION BENEFIT GUARANTY CORPORATION 29 CFR Part 4044 Allocation of Assets in SingleEmployer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits Pension Benefit Guaranty Corporation. ACTION: Correcting amendments. erowe on DSK2VPTVN1PROD with RULES AGENCY: The Pension Benefit Guaranty Corporation published a final rule document in the Federal Register on June 15, 2011 (at 76 FR 34847), amending its regulations on Benefits Payable in Terminated Single-Employer SUMMARY: VerDate Mar<15>2010 15:10 Mar 08, 2012 Jkt 226001 it for t = 1–20 * 0.0430 >20 * 0.0409 * Issued in Washington, DC, on this 6th day of March 2012. Laricke Blanchard, Deputy Director for Policy, Pension Benefit Guaranty Corporation. for t = * PO 00000 Frm 00007 Fmt 4700 * * Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under those regulations. This document corrects an inadvertent error in that final rule relating to the prescribed interest assumption under the allocation regulation, applicable to plans with valuation dates during the third quarter of 2011. DATES: Effective March 9, 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: The Pension Benefit Guaranty Corporation published a final rule document in the Federal Register of June 15, 2011 (at 76 FR 34847), amending its regulations on Benefits Payable in Terminated Single- Sfmt 4700 it for t = * N/A * N/A * Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under those regulations. The rule inadvertently misstated the prescribed interest assumptions under the allocation regulation, applicable to plans with valuation dates during the third quarter of 2011. The errors appeared both in the preamble and in the amendatory instructions. In the preamble, the third full paragraph in the second column on p. 34847 should have read as follows: The third quarter 2011 interest assumptions under the allocation regulation will be 4.22 percent for the first 20 years following the valuation date and 4.34 percent thereafter. In comparison with the interest assumptions in effect for the second quarter of 2011, these interest assumptions represent no change in the select period (the period during which the select rate (the initial rate) applies), an increase of 0.26 percent in the select rate, and an increase of 0.02 percent in the ultimate rate (the final rate). List of Subjects in 29 CFR Part 4044 Employee benefit plans, Pension insurance, Pensions. E:\FR\FM\09MRR1.SGM 09MRR1 14276 Federal Register / Vol. 77, No. 47 / Friday, March 9, 2012 / Rules and Regulations In consideration of the foregoing, 29 CFR part 4044 is corrected by making the following correcting amendment: PART 4044—ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS 2. In appendix B to part 4044, the entry for July–September 2011 is corrected to read as follows: ■ 1. The authority citation for part 4044 continues to read as follows: Appendix B to Part 4044—Interest Rates Used To Value Benefits Authority: 29 U.S.C. 1301(a), 1302(b)(3), 1341, 1344, 1362. * * * * * The values of it are: For valuation dates occurring in the months— it * * * July–September 2011 ....................................................... * * [FR Doc. 2012–5788 Filed 3–8–12; 8:45 am] BILLING CODE 7709–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 165 [Docket No. USCG–2012–0084] RIN 1625–AA11 Regulated Navigation Area; Little Bay Bridge Construction, Little Bay, Portsmouth, NH Coast Guard, DHS. Temporary interim rule with request for comments. AGENCY: ACTION: The Coast Guard is establishing a regulated navigation area (RNA) on the navigable waters of Little Bay in the Piscataqua River under and surrounding the Little Bay and General Sullivan Bridges in order to facilitate construction of the Little Bay Bridge between Newington, NH and Dover, NH. This temporary interim rule is necessary to provide for the safety of life on the navigable waters during bridge construction operations that could pose an imminent hazard to vessels operating in the area. This rule implements certain safety measures, including speed restrictions and the temporary suspension of vessel traffic during construction operations. DATES: This rule is effective in the CFR from March 9, 2012 through July 31, 2013, and effective with actual notice for purposes of enforcement from February 28, 2012, through July 31, erowe on DSK2VPTVN1PROD with RULES SUMMARY: VerDate Mar<15>2010 15:10 Mar 08, 2012 Jkt 226001 it for t = 1–20 * 0.0434 >20 * 0.0422 * Issued in Washington, DC, on this 6th day of March 2012. Laricke Blanchard, Deputy Director for Policy, Pension Benefit Guaranty Corporation. for t = * PO 00000 Frm 00008 Fmt 4700 * * 2013. Public comments will be accepted and reviewed by the Coast Guard through July 31, 2013. ADDRESSES: You may submit comments identified by docket number USCG– 2012–0084 using any one of the following methods: (1) Federal e-Rulemaking Portal: https://www.regulations.gov. (2) Fax: 202–493–2251. (3) Mail: 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– 0001. (4) Hand delivery: Same as mail address above, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The telephone number is 202–366–9329. To avoid duplication, please use only one of these four methods. See the ‘‘Public Participation and Request for Comments’’ portion of the SUPPLEMENTARY INFORMATION section below for instructions on submitting comments. Documents indicated in this preamble as being available in the docket are part of docket USCG–2012–0084 and are available online by going to https:// www.regulations.gov, inserting USCG– 2012–0084 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 email Ensign Elizabeth V. Morris of the Waterways Management Division, U.S. Coast Guard Sector Northern New England, telephone 207– Sfmt 4700 it for t = * N/A * N/A * 741–5440, email Elizabeth.V.Morris@uscg.mil; or Lieutenant Junior Grade Isaac Slavitt of the Waterways Management Branch, U.S. Coast Guard First District, telephone 617–223–8385, email Isaac.M.Slavitt@uscg.mil. If you have questions on viewing the docket, call Renee V. Wright, Program Manager, Docket Operations, telephone 202–366– 9826. SUPPLEMENTARY INFORMATION: Public Participation and Request for Comments We encourage you to participate in this rulemaking by submitting comments and related materials. All comments received will be posted, without change, to https:// www.regulations.gov and will include any personal information you have provided. As this interim rule will be in effect before the end of the comment period, the Coast Guard will evaluate and revise this rule as necessary to address significant public comments. Submitting Comments If you submit a comment, please include the docket number for this rulemaking (USCG–2012–0084), indicate the specific section of this document to which each comment applies, and provide a reason for each suggestion or recommendation. You may submit your comments and material online (via https:// www.regulations.gov) or by fax, mail, or hand delivery, but please use only one of these means. If you submit a comment online via www.regulations.gov, it will be considered received by the Coast Guard when you successfully transmit the comment. If you fax, hand deliver, or mail your comment, it will be considered as having been received by E:\FR\FM\09MRR1.SGM 09MRR1

Agencies

[Federal Register Volume 77, Number 47 (Friday, March 9, 2012)]
[Rules and Regulations]
[Pages 14275-14276]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-5788]


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PENSION BENEFIT GUARANTY CORPORATION

29 CFR Part 4044


Allocation of Assets in Single-Employer Plans; Benefits Payable 
in Terminated Single-Employer Plans; Interest Assumptions for Valuing 
and Paying Benefits

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Correcting amendments.

-----------------------------------------------------------------------

SUMMARY: The Pension Benefit Guaranty Corporation published a final 
rule document in the Federal Register on June 15, 2011 (at 76 FR 
34847), amending its regulations on Benefits Payable in Terminated 
Single-Employer Plans and Allocation of Assets in Single-Employer Plans 
to prescribe interest assumptions under those regulations. This 
document corrects an inadvertent error in that final rule relating to 
the prescribed interest assumption under the allocation regulation, 
applicable to plans with valuation dates during the third quarter of 
2011.

DATES: Effective March 9, 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: The Pension Benefit Guaranty Corporation 
published a final rule document in the Federal Register of June 15, 
2011 (at 76 FR 34847), amending its regulations on Benefits Payable in 
Terminated Single-Employer Plans and Allocation of Assets in Single-
Employer Plans to prescribe interest assumptions under those 
regulations. The rule inadvertently misstated the prescribed interest 
assumptions under the allocation regulation, applicable to plans with 
valuation dates during the third quarter of 2011. The errors appeared 
both in the preamble and in the amendatory instructions.
    In the preamble, the third full paragraph in the second column on 
p. 34847 should have read as follows:

    The third quarter 2011 interest assumptions under the allocation 
regulation will be 4.22 percent for the first 20 years following the 
valuation date and 4.34 percent thereafter. In comparison with the 
interest assumptions in effect for the second quarter of 2011, these 
interest assumptions represent no change in the select period (the 
period during which the select rate (the initial rate) applies), an 
increase of 0.26 percent in the select rate, and an increase of 0.02 
percent in the ultimate rate (the final rate).

List of Subjects in 29 CFR Part 4044

    Employee benefit plans, Pension insurance, Pensions.


[[Page 14276]]


    In consideration of the foregoing, 29 CFR part 4044 is corrected by 
making the following correcting amendment:

PART 4044--ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS

0
1. The authority citation for part 4044 continues to read as follows:

    Authority: 29 U.S.C. 1301(a), 1302(b)(3), 1341, 1344, 1362.

    2. In appendix B to part 4044, the entry for July-September 2011 is 
corrected to read as follows:

Appendix B to Part 4044--Interest Rates Used To Value Benefits

* * * * *

----------------------------------------------------------------------------------------------------------------
                                                             The values of it are:
     For valuation dates     -----------------------------------------------------------------------------------
  occurring in the months--        it          for t =         it          for t =         it          for t =
----------------------------------------------------------------------------------------------------------------
 
                                                  * * * * * * *
July-September 2011.........       0.0422          1-20        0.0434           >20           N/A           N/A
 
                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------


    Issued in Washington, DC, on this 6th day of March 2012.
Laricke Blanchard,
Deputy Director for Policy, Pension Benefit Guaranty Corporation.
[FR Doc. 2012-5788 Filed 3-8-12; 8:45 am]
BILLING CODE 7709-01-P
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