Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 68116-68118 [2014-26981]
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68116
Federal Register / Vol. 79, No. 220 / Friday, November 14, 2014 / Rules and Regulations
(2) A request for copies of the current
PMA approvals and denials document
and copies of summaries of safety and
effectiveness shall be sent in writing to
the Freedom of Information Staff’s
address listed on the Agency’s Web site
at https://www.fda.gov.
*
*
*
*
*
Dated: November 7, 2014.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2014–26914 Filed 11–13–14; 8:45 am]
BILLING CODE 4164–01–P
DEPARTMENT OF STATE
22 CFR Part 181
[Public Notice 8921]
RIN 1400–AD53
Publication, Coordination, and
Reporting of International Agreements
ACTION:
Final rule.
The Department of State
(‘‘Department’’) finalizes a proposed
rule to add additional categories of
international agreements to be exempted
from the requirement to publish in the
Treaties and Other International Acts
Series (TIAS). The TIAS is the official
treaty series of the United States and
serves as evidence of the treaties, and
international agreements other than
treaties, in all courts of law and equity
and of maritime jurisdiction, and in all
the tribunals and public offices of the
United States and of the several States,
without any need of further proof or
authentication. Certain international
agreements may be exempted from
publication in TIAS if the Department of
State provides notice in its regulations.
This rule adds three categories of
international agreements that are not
required to be published in TIAS.
DATES: This rule is effective on
November 14, 2014.
FOR FURTHER INFORMATION CONTACT:
Michael Mattler, Treaty Affairs, Office
of the Legal Adviser, Department of
State, Washington, DC 20520, (202)
647–1345, or at treatyoffice@state.gov.
SUPPLEMENTARY INFORMATION: Pursuant
to 1 U.S.C. 112a, the Secretary of State
is required to cause to be published
annually a compilation of all treaties
and international agreements to which
the United States is a party that were
signed, proclaimed, or ‘‘with reference
to which any other final formality ha[d]
been executed’’ during the calendar
year.
The Secretary of State, however, may
determine that publication of particular
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SUMMARY:
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categories of agreements is not required
if certain criteria are met, which are
listed in 1 U.S.C. 112a(b). The three
categories of international agreements
that are exempted by this rule (and
which are now included in 22 CFR
181.8) are:
(1) Bilateral acquisition and cross
servicing agreements and logistics
support agreements governing the
mutual exchange of logistics support,
supplies and services with the military
of certain countries or international
organizations.
(2) Bilateral agreements relating to the
provision of health care to military
personnel on a reciprocal basis.
(3) Bilateral agreements for the
reduction of intergovernmental debts.
Further description of these types of
international agreements is included in
the notice of proposed rulemaking. In
addition to these changes, the
Department amends 22 CFR 181.8(a)(9)
to refer to the newer Executive Order
dealing with classified information.
The Department of State received no
comments on the proposed rule.
Regulatory Analysis
For the complete regulatory analysis
regarding this rulemaking, please refer
to the analysis included in the notice of
proposed rulemaking, which is adopted
herein.
List of Subjects in 22 CFR Part 181
Treaties.
For the reasons set forth above, 22
CFR part 181 is amended as follows:
specialized aspects of each other’s
practices or operations;
(13) Bilateral agreements between
aviation agencies governing specified
aviation technical assistance projects for
the provision of managerial, operational,
and technical assistance in developing
and modernizing the civil aviation
infrastructure;
(14) Bilateral acquisition and cross
servicing agreements and logistics
support agreements;
(15) Bilateral agreements relating to
the provision of health care to military
personnel on a reciprocal basis; and
(16) Bilateral agreements for the
reduction of intergovernmental debts.
(b) In addition to those listed in
paragraph (a) of this section, the
following categories of agreements will
not be published in United States
Treaties and Other International
Agreements:
(1) Agreements on the subjects listed
in paragraphs (a)(1) through (9) of this
section that had not been published as
of February 26, 1996;
(2) Agreements on the subjects listed
in paragraphs (a)(10) through (13) of this
section that had not been published as
of September 8, 2006; and
(3) Agreements on the subjects listed
in paragraphs (a)(14) through (16) of this
section that had not been published as
of November 14, 2014.
*
*
*
*
*
Dated: November 5, 2014.
Michael J. Mattler,
Assistant Legal Adviser for Treaty Affairs,
Department of State.
[FR Doc. 2014–27006 Filed 11–13–14; 8:45 am]
PART 181—[AMENDED]
BILLING CODE 4710–08–P
1. The authority citation for part 181
continues to read as follows:
■
Authority: 1 U.S.C. 112a, 112b; and 22
U.S.C. 2651a.
2. Amend § 181.8 by:
a. Revising paragraphs (a)(9), (12), and
(13) and adding paragraphs (a)(14), (15),
and (16); and
■ b. Revising paragraph (b).
The revisions and additions read as
follows:
■
■
§ 181.8
Publication.
(a) * * *
(9) Agreements that have been given
a national security classification
pursuant to Executive Order No. 13526,
its predecessors, or its successors;
*
*
*
*
*
(12) Bilateral agreements that apply to
specified education and leadership
development programs designed to
acquaint U.S. and foreign armed forces,
law enforcement, homeland security, or
related personnel with limited,
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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
December 2014. The interest
assumptions are used for paying
benefits under terminating singleemployer plans covered by the pension
insurance system administered by
PBGC.
SUMMARY:
E:\FR\FM\14NOR1.SGM
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68117
Federal Register / Vol. 79, No. 220 / Friday, November 14, 2014 / Rules and Regulations
DATES:
Effective December 1, 2014.
FOR FURTHER INFORMATION CONTACT:
Catherine B. Klion (Klion.Catherine@
pbgc.gov), Assistant General Counsel for
Regulatory Affairs, 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 December 2014.1
The December 2014 interest
assumptions under the benefit payments
regulation will be 1.00 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 November
2014, these interest assumptions
represent a decrease 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 December 2014, PBGC
finds that good cause exists for making
the assumptions set forth in this
For plans with a valuation
date
On or after
*
Before
*
1–1–15
1.00
254
12–1–14
3. In appendix C to part 4022, Rate Set
254, as set forth below, is added to the
table.
■
*
For plans with a valuation
date
*
*
Before
*
*
1–1–15
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1 Appendix B to PBGC’s regulation on Allocation
of Assets in Single-Employer Plans (29 CFR Part
4044) prescribes interest assumptions for valuing
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16:41 Nov 13, 2014
Jkt 235001
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
254, as set forth below, is added to the
table.
■
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
*
*
*
*
*
i2
i3
*
4.00
n1
4.00
*
n2
*
7
8
n1
n2
*
Deferred annuities
(percent)
1.00
12–1–14
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
4.00
Immediate
annuity rate
(percent)
254
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
i1
*
On or after
*
Employee benefit plans, Pension
insurance, Pensions, Reporting and
recordkeeping requirements.
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
*
Rate set
List of Subjects in 29 CFR Part 4022
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
*
Rate set
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).
i1
i2
i3
4.00
*
4.00
4.00
*
benefits under terminating covered single-employer
plans for purposes of allocation of assets under
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*
*
7
ERISA section 4044. Those assumptions are
updated quarterly.
E:\FR\FM\14NOR1.SGM
14NOR1
8
68118
Federal Register / Vol. 79, No. 220 / Friday, November 14, 2014 / Rules and Regulations
Issued in Washington, DC, on this 7th day
of November 2014.
Judith Starr,
General Counsel, Pension Benefit Guaranty
Corporation.
[FR Doc. 2014–26981 Filed 11–13–14; 8:45 am]
BILLING CODE 7709–02–P
DEPARTMENT OF DEFENSE
Department of the Navy
32 CFR Part 706
Certifications and Exemptions Under
the International Regulations for
Preventing Collisions at Sea, 1972
AGENCY:
ACTION:
Department of the Navy, DoD.
Final rule.
The Department of the Navy
(DoN) is amending its certifications and
exemptions under the International
Regulations for Preventing Collisions at
Sea, 1972 (72 COLREGS), to reflect that
the Deputy Assistant Judge Advocate
General (DAJAG) (Admiralty and
Maritime Law) has determined that USS
MILWAUKEE (LCS 5) is a vessel of the
Navy which, due to its special
construction and purpose, cannot fully
comply with certain provisions of the 72
COLREGS without interfering with its
special function as a naval ship. The
intended effect of this rule is to warn
mariners in waters where 72 COLREGS
apply.
SUMMARY:
This rule is effective November
14, 2014, and is applicable beginning
October 31, 2014.
FOR FURTHER INFORMATION CONTACT:
Commander Theron R. Korsak, JAGC,
U.S. Navy, Admiralty Attorney,
(Admiralty and Maritime Law), Office of
the Judge Advocate General, Department
of the Navy, 1322 Patterson Ave. SE.,
Suite 3000, Washington Navy Yard, DC
20374–5066, telephone number: 202–
685–5040.
SUPPLEMENTARY INFORMATION: Pursuant
to the authority granted in 33 U.S.C.
1605, the DoN amends 32 CFR Part 706.
This amendment provides notice that
the DAJAG (Admiralty and Maritime
Law), under authority delegated by the
Secretary of the Navy, has certified that
USS MILWAUKEE (LCS 5) is a vessel of
the Navy which, due to its special
construction and purpose, cannot fully
comply with the following specific
provisions of 72 COLREGS without
interfering with its special function as a
naval ship: Annex I paragraph 2 (a)(i),
pertaining to the location of the forward
masthead light at a height not less than
12 meters above the hull; Annex I,
paragraph 3(a), pertaining to the
location of the forward masthead light
in the forward quarter of the ship, and
the horizontal distance between the
forward and after masthead light. The
DAJAG (Admiralty and Maritime Law)
has also certified that the lights
involved are located in closest possible
compliance with the applicable 72
COLREGS requirements.
Moreover, it has been determined, in
accordance with 32 CFR Parts 296 and
DATES:
701, that publication of this amendment
for public comment prior to adoption is
impracticable, unnecessary, and
contrary to public interest since it is
based on technical findings that the
placement of lights on this vessel in a
manner differently from that prescribed
herein will adversely affect the vessel’s
ability to perform its military functions.
List of Subjects in 32 CFR Part 706
Marine safety, Navigation (water), and
Vessels.
For the reasons set forth in the
preamble, the DoN amends part 706 of
title 32 of the Code of Federal
Regulations as follows:
PART 706—CERTIFICATIONS AND
EXEMPTIONS UNDER THE
INTERNATIONAL REGULATIONS FOR
PREVENTING COLLISIONS AT SEA,
1972
1. The authority citation for part 706
continues to read as follows:
■
Authority: 33 U.S.C. 1605.
2. Section 706.2 is amended:
a. In Table One, by adding, in alpha
numerical order, by vessel number, an
entry for USS MILWAUKEE (LCS 5);
■ b. In Table Five, by adding, in alpha
numerical order, by vessel number, an
entry for USS MILWAUKEE (LCS 5).
■
■
§ 706.2 Certifications of the Secretary of
the Navy under Executive Order 11964 and
33 U.S.C. 1605.
*
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*
*
TABLE ONE
Vessel
Number
Distance in meters of
forward masthead light
below minimum required
height. § 2(a)(i) Annex I
*
*
*
USS MILWAUKEE ..............................................................
*
*
*
LCS 5 .................................................................................
*
6.75
*
*
*
*
*
*
*
TABLE FIVE
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Vessel
Number
Masthead
lights not over
all other
lights and
obstructions.
annex I, sec.
2(f)
*
*
*
USS MILWAUKEE ....................................................................
*
LCS 5 ........
*
........................
*
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*
16:41 Nov 13, 2014
*
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PO 00000
*
Frm 00026
Fmt 4700
Forward masthead light not
in forward
quarter of
ship. annex I,
sec. 3(a)
After masthead light less
than 1⁄2 ship’s
length aft of
forward masthead light.
annex I, sec.
3(a)
X
*
X
*
Sfmt 4700
E:\FR\FM\14NOR1.SGM
*
14NOR1
Percentage
horizontal
separation
attained
*
22.3
*
]]>Agencies
[Federal Register Volume 79, Number 220 (Friday, November 14, 2014)]
[Rules and Regulations]
[Pages 68116-68118]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-26981]
=======================================================================
-----------------------------------------------------------------------
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 December 2014. The interest assumptions are used
for paying benefits under terminating single-employer plans covered by
the pension insurance system administered by PBGC.
[[Page 68117]]
DATES: Effective December 1, 2014.
FOR FURTHER INFORMATION CONTACT: Catherine B. Klion
(Klion.Catherine@pbgc.gov), Assistant General Counsel for Regulatory
Affairs, 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 December 2014.\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 December 2014 interest assumptions under the benefit payments
regulation will be 1.00 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 November 2014, these interest assumptions
represent a decrease 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 December 2014, 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 254, 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 Deferred annuities (percent)
date Immediate ---------------------------------------------------------------------
Rate set ---------------------------- annuity rate
On or after Before (percent) i1 i2 i3 n1 n2
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
254..................................... 12-1-14 1-1-15 1.00 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 254, 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 Deferred annuities (percent)
date Immediate ---------------------------------------------------------------------
Rate set ---------------------------- annuity rate
On or after Before (percent) i1 i2 i3 n1 n2
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
254..................................... 12-1-14 1-1-15 1.00 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 68118]]
Issued in Washington, DC, on this 7th day of November 2014.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2014-26981 Filed 11-13-14; 8:45 am]
BILLING CODE 7709-02-P
