Discount Rates for Cost-Effectiveness Analysis of Federal Programs, 6140-6141 [2013-01843]
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6140
Federal Register / Vol. 78, No. 19 / Tuesday, January 29, 2013 / Notices
The plan administrator is personally
liable for the payment of civil penalties
assessed under section 502(c)(2) of
ERISA; therefore, civil penalties,
including amounts paid under this
DFVC Program, shall not be paid from
the assets of an employee benefit plan.
Section 4—Plan Administrators Filing
Notices for Apprenticeship and
Training Plans and Statements for ‘‘Top
Hat’’ Plans
.01 General. Administrators of
apprenticeship and training plans,
described in 29 CFR 2520.104–22, and
administrators of pension plans for a
select group of management or highly
compensated employees, described in
29 CFR 2520.104–23(a) (‘‘top hat
plans’’), who elect to file the applicable
notice and statement described in 29
CFR 2520.104–22 and 29 CFR 2520.104–
23, respectively, as a condition of relief
from the annual reporting requirements
may, in lieu of filing any past due
annual report and paying otherwise
applicable civil penalties, comply with
the requirements of this Section 4.
Administrators who have complied with
the requirements of this Section 4 shall
be considered as having elected
compliance with the exemption(s) and/
or alternative method of compliance
prescribed in 29 CFR 2520.104–22 or
2520.104–23, as appropriate, for all
subsequent plan years.
Filing Applicable Notice or
Statement With the U.S. Department Of
Labor.
The plan administrator must prepare
and file a notice or statement meeting
the requirements of 29 CFR 2520.104–22
or 29 CFR 2520.104–23, as appropriate.
The apprenticeship and training plan
notice described in 29 CFR 2520.104–22
shall be sent to the Employee Benefits
Security Administration in accordance
with the instructions in that regulation.
The ‘‘top hat’’ plan statement
described in 29 CFR 2520.104–23 shall
be sent to the Employee Benefits
Security Administration in accordance
with the instructions in that regulation.
srobinson on DSK4SPTVN1PROD with
Note: A plan sponsor maintaining more
than one ‘‘top hat’’ plan may file a single
statement covering multiple plans. See 29
CFR 2520.104–23(b).
.03 Payment of Applicable Penalty
Amount.
(a) The plan administrator of each
such apprenticeship and training or
‘‘top hat’’ plan shall pay the applicable
penalty amount by submitting electronic
payment in accordance with the online
penalty calculator and the web payment
system on the Department’s Web site.
(See https://www.dol.gov/ebsa/
calculator/dfvcpmain.html). The plan
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16:47 Jan 28, 2013
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administrator may also pay the penalty
by mailing a check to the address
specified on the Department’s Web site,
along with a paper copy of the most
current Form 5500 with only items 1a–
1b, 2a–2c, and 3a–3c completed. Use
plan number 888 for all top hat plans
and 999 for all apprenticeship and
training plans. The Form 5500 prepared
for DFVCP payment verification
purposes should not be filed with
EFAST2.
Note: A paper submission of the Form 5500
to the DFVC program is in addition to the
submission of the statement described in
regulation section 29 CFR § 2520.104–22 or
29 CFR 2520.104–23 that is filed directly
with the Department.
(b) The applicable penalty amount for
apprenticeship and training and ‘‘top
hat’’ plans is $750 for each DFVC
Program submission, without regard to
the number of plans maintained by the
same plan sponsor for which notices
and statements are filed pursuant to
Section 4 and without regard to the
number of plan participants covered
under such plan or plans.
.04 Liability for Applicable Penalty
Amount.
The plan administrator is personally
liable for the payment of civil penalties
assessed under section 502(c)(2) of
ERISA; therefore, civil penalties,
including amounts paid under this
DFVC Program, shall not be paid from
the assets of an employee benefit plan.
Section 5—Waiver of Right to Notice,
Abatement of Assessment and Plan
Status
.01 Payment of a penalty under the
terms of this DFVC Program constitutes,
with regard to the filings submitted
under the Program, a waiver of an
administrator’s right both to receive
notices of intent to assess a penalty
under 29 CFR 2560.502c–2 from the
Department and to contest the
Department’s assessment of the penalty
amount.
.02 Although this Notice does not
provide relief from late filing penalties
under the Code, the IRS has provided
the Department with the following
information. The Code and the
regulations thereunder require
information to be filed on the Form
5500 Series Annual Return/Report and
provide the IRS with authority to
impose or assess penalties for failing or
refusing to timely file an annual return/
report. The IRS expects to issue separate
guidance to provide certain penalty
relief under the Code for delinquent
Form 5500 and Form 5500–SF Annual
Returns/Reports filed for Title I plans
where:
PO 00000
Frm 00076
Fmt 4703
Sfmt 4703
(a) The conditions of this DFVC
Program have been satisfied (including
filing Schedules E, P, R, and T, as
applicable); and
(b) Any requirements imposed by the
IRS in such separate guidance are
satisfied.
The relief under this notice is
available only to the extent that a Form
5500 is required under Title I of ERISA.
Plans that are not subject to Title I of
ERISA are ineligible to participate in the
DFVC Program.
.03 Although this Notice does not
provide relief from late filing penalties
under Title IV of ERISA, the Pension
Benefit Guaranty Corporation (PBGC)
has provided the Department with the
following information. Title IV of ERISA
and the regulations thereunder require
information to be filed on the Form
5500 and Form 5500–SF Annual
Returns/Reports and provide the PBGC
with authority to assess penalties
against a plan administrator under
ERISA section 4071 for late filing of the
Form 5500 Series Annual Return/
Report. The PBGC has agreed that it will
not assess a penalty against a plan
administrator under ERISA section 4071
for late filing of a Form 5500 or Form
5500–SF Annual Return/Report, as
appropriate, filed for a Title I plan
where the conditions of this DFVC
Program have been satisfied.
.04 Acceptance by the Department of
a filing and penalty payment made
pursuant to this DFVC Program does not
represent a determination by the
Department as to the status of the
arrangement as a plan, the particular
type of plan under Title I of ERISA, the
status of the plan sponsor under the
Code, or a determination by the
Department that the provisions of 29
CFR 2520.104–22 or 29 CFR 2520.104–
23 have been satisfied.
Signed at Washington, DC, this 18th day of
January 2013.
Phyllis C. Borzi,
Assistant Secretary, Employee Benefits
Security Administration, U.S. Department of
Labor.
[FR Doc. 2013–01616 Filed 1–28–13; 8:45 am]
BILLING CODE 4510–29–P
OFFICE OF MANAGEMENT AND
BUDGET
Discount Rates for Cost-Effectiveness
Analysis of Federal Programs
Office of Management and
Budget.
ACTION: Revisions to Appendix C of
OMB Circular A–94.
AGENCY:
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29JAN1
6141
Federal Register / Vol. 78, No. 19 / Tuesday, January 29, 2013 / Notices
The Office of Management
and Budget revised Circular A–94 in
1992. The revised Circular specified
certain discount rates to be updated
annually when the interest rate and
inflation assumptions used to prepare
the Budget of the United States
Government were changed. These
discount rates are found in Appendix C
of the revised Circular. The updated
discount rates are shown below. The
discount rates in Appendix C are to be
used for cost-effectiveness analysis,
including lease-purchase analysis, as
specified in the revised Circular. They
do not apply to regulatory analysis.
SUMMARY:
The revised discount rates will
be in effect through December 2013.
FOR FURTHER INFORMATION CONTACT:
Gideon F. Lukens, Office of Economic
Policy, Office of Management and
Budget, (202) 395–3316.
DATES:
Michael C. Falkenheim,
Acting Associate Director for Economic
Policy, Office of Management and Budget.
Appendix C
(Revised December 2012)
Discount Rates for Cost-Effectiveness, Lease
Purchase, and Related Analyses
Effective Dates. This appendix is updated
annually. This version of the appendix is
valid for calendar year 2013. A copy of the
updated appendix can be obtained in
electronic form through the OMB home page
at https://www.whitehouse.gov/omb/
circulars_a094/a94_appx-c/. The text of the
Circular is found at https://
www.whitehouse.gov/omb/circulars_a094/,
and a table of past years’ rates is located at
https://www.whitehouse.gov/sites/default/
files/omb/assets/a94/dischist.pdf. Updates of
the appendix are also available upon request
from OMB’s Office of Economic Policy (202–
395–3381).
Nominal Discount Rates. A forecast of
nominal or market interest rates for calendar
year 2013 based on the economic
assumptions for the 2014 Budget is presented
below. These nominal rates are to be used for
discounting nominal flows, which are often
encountered in lease-purchase analysis.
NOMINAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[In percent]
3-Year
5-Year
7-Year
10-Year
20-Year
30-Year
0.5
1.1
1.5
2.0
2.7
3.0
Real Discount Rates. A forecast of real
interest rates from which the inflation
premium has been removed and based on the
economic assumptions from the 2014 Budget
is presented below. These real rates are to be
used for discounting constant-dollar flows, as
is often required in cost-effectiveness
analysis.
REAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[In percent]
3-Year
5-Year
7-Year
10-Year
20-Year
30-Year
¥1.4
¥0.8
¥0.4
0.1
0.8
1.1
Analyses of programs with terms different
from those presented above may use a linear
interpolation. For example, a four-year
project can be evaluated with a rate equal to
the average of the three-year and five-year
rates. Programs with durations longer than 30
years may use the 30-year interest rate.
[FR Doc. 2013–01843 Filed 1–28–13; 8:45 am]
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OFFICE OF NATIONAL DRUG
CONTROL POLICY
Paperwork Reduction Act; Notice of
Intent To Collect; Comment Request
AGENCY:
Office of National Drug Control
Policy.
The Office of National Drug
Control Policy (ONDCP) seeks public
comment on its proposed collection of
information.
srobinson on DSK4SPTVN1PROD with
ACTION:
ONDCP proposes the
extension of three existing data
collection instruments used in the
production of advertising for the
National Youth Anti-Drug Media
Campaign and for advertising tracking.
SUMMARY:
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16:47 Jan 28, 2013
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Purpose: The existing data collection
instruments are critical to the continuity
and improvement of the National Youth
Anti-Drug Media Campaign.
Type and Title of Collections:
Qualitative Research, OMB 3201–0011,
uses focus groups. Copy Testing, OMB
3201–0006, consists of 15-minute online
interviews. Tracking Study, OMB 3201–
0010, consists of 15-minute online
interviews.
Frequency: Qualitative Research and
Copy Testing performed quarterly.
Tracking Study performed weekly.
Affected Public: Teenagers and adult
influencers of teenagers.
Estimated Burden: Qualitative
Research, $19,800; Copy Testing,
$16,500; Tracking Study, $37,700.
Additional information: Collection
instruments similar to those proposed
are available at the Information
Collection Review section of https://
www.reginfo.gov/public/jsp/Utilities/
index.jsp.
Contact: Address comments or
questions to Andrew Hertzberg through
any of the following: Executive Office of
the President, Office of National Drug
Control Policy, Washington DC 20503;
PO 00000
Frm 00077
Fmt 4703
Sfmt 4703
AHertzberg@ondcp.eop.gov; (202) 395–
6721 (fax); or, (202) 395–6353 (voice).
Signed in Washington DC on January 23,
2013.
Daniel R. Petersen,
Deputy General Counsel.
[FR Doc. 2013–01762 Filed 1–28–13; 8:45 am]
BILLING CODE 3180–02–P
NATIONAL SCIENCE FOUNDATION
Information Collection Activities:
Proposed Collection; Comment
Request
National Science Foundation.
Notice.
AGENCY:
ACTION:
Under the Paperwork
Reduction Act of 1995, Public Law 104–
13 (44 U.S.C. 3501 et seq.), and as part
of its continuing effort to reduce
paperwork and respondent burden, the
National Science Foundation (NSF) is
inviting the general public and other
Federal agencies to comment on this
proposed information collection.
DATES: Written comments on this notice
must be received by April 1, 2013 to be
SUMMARY:
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]]>Agencies
[Federal Register Volume 78, Number 19 (Tuesday, January 29, 2013)]
[Notices]
[Pages 6140-6141]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-01843]
=======================================================================
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OFFICE OF MANAGEMENT AND BUDGET
Discount Rates for Cost-Effectiveness Analysis of Federal
Programs
AGENCY: Office of Management and Budget.
ACTION: Revisions to Appendix C of OMB Circular A-94.
-----------------------------------------------------------------------
[[Page 6141]]
SUMMARY: The Office of Management and Budget revised Circular A-94 in
1992. The revised Circular specified certain discount rates to be
updated annually when the interest rate and inflation assumptions used
to prepare the Budget of the United States Government were changed.
These discount rates are found in Appendix C of the revised Circular.
The updated discount rates are shown below. The discount rates in
Appendix C are to be used for cost-effectiveness analysis, including
lease-purchase analysis, as specified in the revised Circular. They do
not apply to regulatory analysis.
DATES: The revised discount rates will be in effect through December
2013.
FOR FURTHER INFORMATION CONTACT: Gideon F. Lukens, Office of Economic
Policy, Office of Management and Budget, (202) 395-3316.
Michael C. Falkenheim,
Acting Associate Director for Economic Policy, Office of Management and
Budget.
Appendix C
(Revised December 2012)
Discount Rates for Cost-Effectiveness, Lease Purchase, and Related
Analyses
Effective Dates. This appendix is updated annually. This version
of the appendix is valid for calendar year 2013. A copy of the
updated appendix can be obtained in electronic form through the OMB
home page at https://www.whitehouse.gov/omb/circulars_a094/a94_appx-c/. The text of the Circular is found at https://www.whitehouse.gov/omb/circulars_a094/, and a table of past years'
rates is located at https://www.whitehouse.gov/sites/default/files/omb/assets/a94/dischist.pdf. Updates of the appendix are also
available upon request from OMB's Office of Economic Policy (202-
395-3381).
Nominal Discount Rates. A forecast of nominal or market interest
rates for calendar year 2013 based on the economic assumptions for
the 2014 Budget is presented below. These nominal rates are to be
used for discounting nominal flows, which are often encountered in
lease-purchase analysis.
Nominal Interest Rates on Treasury Notes and Bonds of Specified Maturities
[In percent]
----------------------------------------------------------------------------------------------------------------
3-Year 5-Year 7-Year 10-Year 20-Year 30-Year
----------------------------------------------------------------------------------------------------------------
0.5 1.1 1.5 2.0 2.7 3.0
----------------------------------------------------------------------------------------------------------------
Real Discount Rates. A forecast of real interest rates from
which the inflation premium has been removed and based on the
economic assumptions from the 2014 Budget is presented below. These
real rates are to be used for discounting constant-dollar flows, as
is often required in cost-effectiveness analysis.
Real Interest Rates on Treasury Notes and Bonds of Specified Maturities
[In percent]
----------------------------------------------------------------------------------------------------------------
3-Year 5-Year 7-Year 10-Year 20-Year 30-Year
----------------------------------------------------------------------------------------------------------------
-1.4 -0.8 -0.4 0.1 0.8 1.1
----------------------------------------------------------------------------------------------------------------
Analyses of programs with terms different from those presented
above may use a linear interpolation. For example, a four-year
project can be evaluated with a rate equal to the average of the
three-year and five-year rates. Programs with durations longer than
30 years may use the 30-year interest rate.
[FR Doc. 2013-01843 Filed 1-28-13; 8:45 am]
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