Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits, 74021-74023 [2014-29382]
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Federal Register / Vol. 79, No. 240 / Monday, December 15, 2014 / Rules and Regulations
(b) Sponsors. See sponsors in
§ 510.600(c) of this chapter for use as in
paragraph (c) of this section.
(1) No. 053599 for use of in 2 mg/mL
solution as in paragraph (c)(1) of this
section.
(2) No. 053923 for use of in 5 mg/mL
solution as in paragraph (c)(2) of this
section.
(c) Conditions of use—(1) Dogs—(i)
Amount. Administer 0.05 mg per pound
(0.11 mg per kilogram) of body weight
by intravenous injection.
(ii) Indications for use. To reverse the
effects of xylazine in dogs.
(iii) Limitations. Not for use in foodproducing animals. Federal law restricts
this drug to use by or on the order of
a licensed veterinarian.
(2) Deer and elk—(i) Amount.
Administer 0.2 to 0.3 mg per kilogram
of body weight by intravenous injection.
(ii) Indications for use. A s an
antagonist to xylazine sedation in free
ranging or confined members of the
family Cervidae (deer and elk).
(iii) Limitations. Do not use in
domestic food-producing animals. Do
not use for 30 days before or during
hunting season. Federal law restricts
this drug to use by or on the order of
a licensed veterinarian.
PART 558—NEW ANIMAL DRUGS FOR
USE IN ANIMAL FEEDS
20. The authority citation for 21 CFR
part 558 continues to read as follows:
■
Authority: 21 U.S.C. 360b, 371.
§ 558.76
[Amended]
21. In § 558.76, in paragraph (d)(1)(x),
in the entry for ‘‘Quail’’, in the
‘‘Limitations’’ column, remove the first
sentence.
■
§ 558.105
[Removed]
22. Remove reserved § 558.105.
■ 23. In § 558.355, add paragraph
(f)(1)(xxxi) to read as follows:
■
§ 558.355
Monensin.
tkelley on DSK3SPTVN1PROD with RULES
*
*
*
*
*
(f) * * *
(1) * * *
(xxxi) Amount per ton. Monensin, 90
to 110 grams; plus virginiamycin, 20
grams.
(a) Indications for use. Broiler
chickens: As an aid in the prevention of
coccidiosis caused by E. necatrix, E.
tenella, E. acervulina, E. brunetti, E.
mivati, and E. maxima; and for
prevention of necrotic enteritis caused
by Clostridium perfringens susceptible
to virginiamycin.
(b) Limitations. Feed continuously as
sole ration. Do not feed to laying
chickens. See paragraph (d) of this
VerDate Sep<11>2014
17:02 Dec 12, 2014
Jkt 235001
section. As monensin provided by No.
000986; virginiamycin as provided by
No. 066104 in § 510.600(c) of this
chapter.
*
*
*
*
*
Dated: December 9, 2014.
Bernadette Dunham,
Director, Center for Veterinary Medicine.
[FR Doc. 2014–29249 Filed 12–12–14; 8:45 am]
BILLING CODE 4164–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Food and Drug Administration
74021
Veterinary Medicine, and in accordance
with § 514.116 Notice of withdrawal of
approval of application (21 CFR
514.116), notice is given that approval
of ANADA 200–305, and all
supplements and amendments thereto,
is hereby withdrawn, effective
December 26, 2014.
Elsewhere in this issue of the Federal
Register, FDA is amending the animal
drug regulations to reflect the voluntary
withdrawal of approval of this
application.
Dated: December 9, 2014.
Bernadette Dunham,
Director, Center for Veterinary Medicine.
[FR Doc. 2014–29248 Filed 12–12–14; 8:45 am]
21 CFR Part 520
BILLING CODE 4164–01–P
[Docket No. FDA–2014–N–0002]
Oral Dosage Form New Animal Drugs;
Withdrawal of Approval of New Animal
Drug Application; Oxytetracycline
AGENCY:
Food and Drug Administration,
HHS.
Notification of withdrawal of
approval.
ACTION:
The Food and Drug
Administration (FDA) is withdrawing
approval of an abbreviated new animal
drug application (ANADA) for an
oxytetracycline soluble powder used to
make medicated drinking water for
livestock and poultry. This action is
being taken at the sponsor’s request
because this product is no longer
manufactured or marketed.
DATES: Withdrawal of approval is
effective December 26, 2014.
FOR FURTHER INFORMATION CONTACT:
Sujaya Dessai, Center for Veterinary
Medicine (HFV–212), Food and Drug
Administration, 7519 Standish Pl.,
Rockville, MD 20855, 240–276–9075,
sujaya.dessai@fda.hhs.gov.
SUPPLEMENTARY INFORMATION:
´
Vetoquinol N.-A., Inc., 2000 chemin
Georges, Lavaltrie (PQ), Canada, J5T 3S5
has requested that FDA withdraw
approval of ANADA 200–305 for
Oxytetracycline Hydrochloride Soluble
Powder because the product is no longer
manufactured or marketed. Note this
ANADA was identified as being affected
by guidance for industry (GFI) #213,
‘‘New Animal Drugs and New Animal
Drug Combination Products
Administered in or on Medicated Feed
or Drinking Water of Food-Producing
Animals: Recommendations for Drug
Sponsors for Voluntarily Aligning
Product Use Conditions with GFI #209’’,
December 2013.
Therefore, under authority delegated
to the Commissioner of Food and Drugs
and redelegated to the Center for
SUMMARY:
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PENSION BENEFIT GUARANTY
CORPORATION
29 CFR Parts 4022 and 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: Final rule.
AGENCY:
This final rule amends the
Pension Benefit Guaranty Corporation’s
regulations on Benefits Payable in
Terminated Single-Employer Plans and
Allocation of Assets in Single-Employer
Plans to prescribe interest assumptions
under the benefit payments regulation
for valuation dates in January 2015 and
interest assumptions under the asset
allocation regulation for valuation dates
in the first quarter of 2015. The interest
assumptions are used for valuing and
paying benefits under terminating
single-employer plans covered by the
pension insurance system administered
by PBGC.
DATES: Effective January 1, 2015.
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
regulations on Allocation of Assets in
Single-Employer Plans (29 CFR part
4044) and Benefits Payable in
Terminated Single-Employer Plans (29
CFR part 4022) prescribe actuarial
SUMMARY:
E:\FR\FM\15DER1.SGM
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74022
Federal Register / Vol. 79, No. 240 / Monday, December 15, 2014 / Rules and Regulations
assumptions—including interest
assumptions—for valuing and paying
plan benefits under terminating singleemployer plans covered by title IV of
the Employee Retirement Income
Security Act of 1974. The interest
assumptions in the regulations are also
published on PBGC’s Web site (https://
www.pbgc.gov).
The interest assumptions in Appendix
B to Part 4044 are used to value benefits
for allocation purposes under ERISA
section 4044. 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 asset allocation
regulation are updated quarterly;
assumptions under the benefit payments
regulation are updated monthly. This
final rule updates the benefit payments
interest assumptions for January 2015
and updates the asset allocation interest
assumptions for the first quarter
(January through March) of 2015.
The first quarter 2015 interest
assumptions under the allocation
regulation will be 2.89 percent for the
For plans with a valuation
date
Rate set
On or after
*
Before
first 20 years following the valuation
date and 3.12 percent thereafter. In
comparison with the interest
assumptions in effect for the fourth
quarter of 2014, these interest
assumptions represent no change in the
select period, (the period during which
the select rate (the initial rate) applies),
a decrease of 0.21 percent in the select
rate, and a decrease of 0.17 percent in
the ultimate rate (the final rate).
The January 2015 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 December
2014, 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 valuation
and payment of benefits under plans
with valuation dates during January
2015, PBGC finds that good cause exists
for making the assumptions set forth in
this amendment effective less than 30
days after publication.
1–1–15
i1
1.00
3. In appendix C to part 4022, Rate Set
255, as set forth below, is added to the
table.
■
4.00
*
For plans with a valuation
date
*
*
On or after
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*
255 ....................................
VerDate Sep<11>2014
Before
*
*
2–1–15
Jkt 235001
Employee benefit plans, Pension
insurance, Pensions.
In consideration of the foregoing, 29
CFR parts 4022 and 4044 are 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.
2. In appendix B to part 4022, Rate Set
255, as set forth below, is added to the
table.
■
Appendix B to Part 4022—Lump Sum
Interest Rates For PBGC Payments
*
*
*
*
*
i3
n1
*
n2
*
4.00
*
7
8
Deferred annuities
(percent)
1.00
17:02 Dec 12, 2014
29 CFR Part 4044
*
Immediate
annuity rate
(percent)
1–1–15
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
29 CFR Part 4022
i2
*
4.00
*
2–1–15
List of Subjects
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
*
255
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).
PO 00000
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7
8
74023
Federal Register / Vol. 79, No. 240 / Monday, December 15, 2014 / Rules and Regulations
Authority: 29 U.S.C. 1301(a), 1302(b)(3),
1341, 1344, 1362.
PART 4044—ALLOCATION OF
ASSETS IN SINGLE–EMPLOYER
PLANS
Appendix B to Part 4044—Interest
Rates Used to Value Benefits
5. In appendix B to part 4044, a new
entry for January—March 2015, as set
forth below, is added to the table.
*
■
4. The authority citation for part 4044
continues to read as follows:
■
*
*
*
*
The values of it are:
For valuation dates occurring in the month—
it
*
*
*
January–March 2015 ........................................................
Issued in Washington, DC, on this 10th day
of December 2014.
Judith Starr,
General Counsel, Pension Benefit Guaranty
Corporation.
[FR Doc. 2014–29382 Filed 12–12–14; 8:45 am]
BILLING CODE 7709–02–P
DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Part 347
RIN 1530–AA08
Regulations Governing Retirement
Savings Bonds
Bureau of the Fiscal Service,
Fiscal Service, Treasury.
ACTION: Final rule.
AGENCY:
The United States Department
of the Treasury, Bureau of the Fiscal
Service, offers a new nonmarketable,
electronic retirement savings bond for
Treasury’s new retirement savings
program. The bonds will be issued to a
designated custodian for Roth
individual retirement accounts
established under Treasury’s program.
This new savings bond is only available
to participants in the retirement savings
program and will protect the principal
contributed while earning interest at a
rate previously available only to federal
employees invested in the Government
Securities Investment Fund (G Fund) of
their Thrift Savings Plan.
DATES: This final rule is effective
December 15, 2014.
ADDRESSES: You can download this
Final Rule at the following Internet
addresses: https://www.gpo.gov; or
https://www.regulations.gov.
FOR FURTHER INFORMATION CONTACT:
Technical information: Kimberly
Reese, Program Manager, 304–480–7929
or kimberly.reese@fiscal.treasury.gov.
Legal information: David T.
Copenhaver, Deputy Chief Counsel,
tkelley on DSK3SPTVN1PROD with RULES
SUMMARY:
VerDate Sep<11>2014
17:02 Dec 12, 2014
Jkt 235001
for t =
it
for t =
1–20
*
0.0312
>20
*
0.0289
304–480–8692 or david.copenhaver@
fiscal.treasury.gov.
SUPPLEMENTARY INFORMATION:
I. Background
The Secretary of the Treasury is
authorized under Chapter 31 of Title 31,
United States Code, to issue United
States obligations and offer them for sale
under such terms and conditions as the
Secretary may prescribe. On January 29,
2014, the President of the United States
issued a Presidential Memorandum
directing the Secretary to develop a new
retirement savings security focused on
reaching new and small-dollar savers. In
response, the Secretary is offering
electronic retirement savings bonds for
Treasury’s retirement savings program.
This new retirement savings program
allows individuals to establish Roth
individual retirement accounts (Roth
IRAs) with Treasury’s designated
custodian. These accounts will allow
savers to begin investing for retirement
with no start-up costs and no fees.
Participants in the program can
continue to make periodic electronic
contributions in any amount to their
account.
Amounts contributed by participants
in the program will be invested
exclusively in Treasury’s new
retirement savings bonds. The
designated custodian for the program
will purchase and hold these new bonds
for the benefit of the participants. This
new savings bond is only available to
participants in Treasury’s new
retirement savings program and will
protect the principal contributed while
earning interest at a rate previously
available only to federal employees
invested in the Government Securities
Investment Fund (G Fund) of their
Thrift Savings Plan.
Individuals can continue to
participate in the program until their
account balance reaches $15,000 or
until they have participated in the
program for 30 years, whichever occurs
first. At any time, participants can
transfer their balance to a commercial
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Fmt 4700
Sfmt 4700
it
*
for t =
*
N/A
N/A
financial services provider to take
advantage of the broad array of
retirement products available in the
marketplace. Because the accounts
offered through the program are Roth
IRAs, participants also have the
flexibility to withdraw their
contributions at any time without a
penalty. Participants can keep their
account and can continue investing in
the retirement savings bond even if they
change jobs.
With the retirement savings bond and
Treasury’s retirement savings program,
American families can begin to build for
their retirement. Treasury’s program
serves as a stepping stone to the broader
array of retirement products available in
today’s marketplace. This rule
establishes the terms and conditions of
the retirement savings bonds.
II. Procedural Requirements
A. Administrative Procedure Act (APA)
Because this rule relates to United
States securities, which are contracts
between Treasury and the owner of the
security, this rule falls within the
contract exception to the APA at 5
U.S.C. 553(a)(2). As a result, the notice,
public comment, and delayed effective
date provisions of the APA are
inapplicable to this rule.
B. Congressional Review Act (CRA)
This rule is not a major rule pursuant
to the CRA, 5 U.S.C. 801 et seq. It is not
expected to lead to any of the results
listed in 5 U.S.C. 804(2). This rule may
take immediate effect after we submit a
copy of it to Congress and the
Comptroller General.
C. Paperwork Reduction Act (PRA)
There is no new collection of
information contained in this final rule
that would be subject to the PRA, 44
U.S.C. 3501 et seq. Under the PRA, an
agency may not conduct or sponsor, and
a person is not required to respond to,
a collection of information unless it
displays a valid OMB control number.
E:\FR\FM\15DER1.SGM
15DER1
]]>Agencies
[Federal Register Volume 79, Number 240 (Monday, December 15, 2014)]
[Unknown Section]
[Pages 74021-74023]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-29382]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
29 CFR Parts 4022 and 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: Final rule.
-----------------------------------------------------------------------
SUMMARY: This final rule amends the Pension Benefit Guaranty
Corporation's regulations on Benefits Payable in Terminated Single-
Employer Plans and Allocation of Assets in Single-Employer Plans to
prescribe interest assumptions under the benefit payments regulation
for valuation dates in January 2015 and interest assumptions under the
asset allocation regulation for valuation dates in the first quarter of
2015. The interest assumptions are used for valuing and paying benefits
under terminating single-employer plans covered by the pension
insurance system administered by PBGC.
DATES: Effective January 1, 2015.
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 regulations on Allocation of Assets
in Single-Employer Plans (29 CFR part 4044) and Benefits Payable in
Terminated Single-Employer Plans (29 CFR part 4022) prescribe actuarial
[[Page 74022]]
assumptions--including interest assumptions--for valuing and 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 regulations are also published on PBGC's Web site
(https://www.pbgc.gov).
The interest assumptions in Appendix B to Part 4044 are used to
value benefits for allocation purposes under ERISA section 4044. 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 asset
allocation regulation are updated quarterly; assumptions under the
benefit payments regulation are updated monthly. This final rule
updates the benefit payments interest assumptions for January 2015 and
updates the asset allocation interest assumptions for the first quarter
(January through March) of 2015.
The first quarter 2015 interest assumptions under the allocation
regulation will be 2.89 percent for the first 20 years following the
valuation date and 3.12 percent thereafter. In comparison with the
interest assumptions in effect for the fourth quarter of 2014, these
interest assumptions represent no change in the select period, (the
period during which the select rate (the initial rate) applies), a
decrease of 0.21 percent in the select rate, and a decrease of 0.17
percent in the ultimate rate (the final rate).
The January 2015 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 December 2014, 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 valuation
and payment of benefits under plans with valuation dates during January
2015, 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
29 CFR Part 4022
Employee benefit plans, Pension insurance, Pensions, Reporting and
recordkeeping requirements.
29 CFR Part 4044
Employee benefit plans, Pension insurance, Pensions.
In consideration of the foregoing, 29 CFR parts 4022 and 4044 are
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 255, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
255 1-1-15 2-1-15 1.00 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 255, 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
--------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
255......................... 1-1-15 2-1-15 1.00 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 74023]]
PART 4044--ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS
0
4. The authority citation for part 4044 continues to read as follows:
Authority: 29 U.S.C. 1301(a), 1302(b)(3), 1341, 1344, 1362.
0
5. In appendix B to part 4044, a new entry for January--March 2015, as
set forth below, is added to the table.
Appendix B to Part 4044--Interest Rates Used to Value Benefits
* * * * *
----------------------------------------------------------------------------------------------------------------
The values of it are:
For valuation dates -----------------------------------------------------------------------------------
occurring in the month-- it for t = it for t = it for t =
----------------------------------------------------------------------------------------------------------------
* * * * * * *
January-March 2015.......... 0.0289 1-20 0.0312 >20 N/A N/A
----------------------------------------------------------------------------------------------------------------
Issued in Washington, DC, on this 10th day of December 2014.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2014-29382 Filed 12-12-14; 8:45 am]
BILLING CODE 7709-02-P
