Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 41436-41437 [2015-17376]
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41436
Federal Register / Vol. 80, No. 135 / Wednesday, July 15, 2015 / Rules and Regulations
Dated: July 8, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015–17179 Filed 7–14–15; 8:45 am]
BILLING CODE 8011–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Food and Drug Administration
21 CFR Part 161
[Docket No. FDA–2015–N–0011]
Canned Pacific Salmon; Technical
Amendment
AGENCY:
Food and Drug Administration,
HHS.
Final rule; technical
amendment.
ACTION:
The Food and Drug
Administration (FDA or we) is
amending a regulation pertaining to
canned Pacific salmon. The amendment
removes a paragraph that contains an
obsolete cross-reference.
DATES: This rule is effective July 15,
2015.
SUMMARY:
mstockstill on DSK4VPTVN1PROD with RULES
FOR FURTHER INFORMATION CONTACT:
Loretta Carey, Center for Food Safety
and Applied Nutrition (HFS–820), Food
and Drug Administration, 5100 Paint
Branch Pkwy., College Park, MD 20740–
3835, 240–402–2371.
SUPPLEMENTARY INFORMATION: Our
regulations at 21 CFR part 161 (‘‘Fish
and Shellfish’’) establish requirements
for specific standardized fish and
shellfish. One provision, at § 161.170,
pertains to canned Pacific salmon, and
§ 161.170(a)(5)(ii)(b) states that when
the form of the pack and the words
describing the pack are declared on the
label, the label must ‘‘bear the
statements required by § 105.69 of this
chapter.’’ (The regulation, at
§ 161.170(a)(3), describes various ‘‘forms
of pack;’’ one form of pack, for example,
is named ‘‘regular’’ and is described as
where the sections or steaks are cut
transversely from the fish and filled
vertically into the can.)
Section 105.69 was entitled ‘‘Foods
used to regulate sodium intake.’’ In the
Federal Register of June 3, 1996 (61 FR
27771), we revoked § 105.69 as part of
a ‘‘Reinventing Government’’ initiative,
and the revocation became effective on
July 3, 1996 (see 61 FR 43963; August
27, 1996) (confirming the effective date
for the revocation of various food
regulations)). However, the revocation
inadvertently omitted a corresponding
change to § 161.170(a)(5)(ii)(b).
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16:42 Jul 14, 2015
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Consequently, through this document,
we are amending § 161.170 by removing
paragraph (a)(5)(ii)(b) entirely and
redesignating paragraph (a)(5)(ii)(a) as
paragraph (a)(5)(ii).
Publication of this document
constitutes final action of these changes
under the Administrative Procedure Act
(5 U.S.C. 553). These amendments
eliminate an obsolete reference to a rule
that we revoked in 1996. FDA, therefore,
for good cause, finds under 5 U.S.C.
553(b)(3)(B) and (d)(3) that notice and
public comment are unnecessary.
FDA has determined, under 21 CFR
25.30(i), that this final rule is of a type
that does not individually or
cumulatively have a significant effect on
the human environment. Therefore,
neither an environmental assessment
nor an environmental impact statement
is required.
In addition, FDA has determined that
this final rule contains no new
collections of information. Therefore,
clearance by the Office of Management
and Budget under the Paperwork
Reduction Act of 1995 is not required.
List of Subjects in 21 CFR Part 161
Food grades and standards, Frozen
foods, Seafood.
Therefore, under the Federal Food,
Drug, and Cosmetic Act and under
authority delegated to the Commissioner
of Food and Drugs, 21 CFR part 161 is
amended as follows:
PART 161—FISH AND SHELLFISH
1. The authority citation for 21 CFR
part 161 continues to read as follows:
■
Authority: 21 U.S.C. 321, 341, 343, 348,
371, 379e.
§ 161.170
[Amended]
2. Amend § 161.170 by removing
paragraph (a)(5)(ii)(b) and redesignating
paragraph (a)(5)(ii)(a) as paragraph
(a)(5)(ii).
■
Dated: July 9, 2015.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2015–17249 Filed 7–14–15; 8:45 am]
BILLING CODE 4164–01–P
PENSION BENEFIT GUARANTY
CORPORATION
29 CFR Part 4022
Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions
for Paying Benefits
Pension Benefit Guaranty
Corporation.
AGENCY:
PO 00000
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ACTION:
Final rule.
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
August 2015. The interest assumptions
are used for paying benefits under
terminating single-employer plans
covered by the pension insurance
system administered by PBGC.
DATES: Effective August 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
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 August 2015.1
The August 2015 interest assumptions
under the benefit payments regulation
will be 1.50 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
SUMMARY:
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.
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15JYR1
41437
Federal Register / Vol. 80, No. 135 / Wednesday, July 15, 2015 / Rules and Regulations
status. In comparison with the interest
assumptions in effect for July 2015,
these interest assumptions represent an
increase 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
Rate set
For plans with a valuation
date
On or after
*
262
Before
dates during August 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 in 29 CFR Part 4022
Employee benefit plans, Pension
insurance, Pensions, Reporting and
recordkeeping requirements.
3. In appendix C to part 4022, Rate Set
262, as set forth below, is added to the
table.
■
For plans with a valuation
date
On or after
*
262
Before
BILLING CODE 7709–02–P
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
49 CFR Part 1002
mstockstill on DSK4VPTVN1PROD with RULES
[Docket No. EP 542 (Sub-No. 23)]
Regulations Governing Fees for
Services Performed in Connection
With Licensing and Related Services—
2015 Update
Surface Transportation Board.
Final rules.
AGENCY:
ACTION:
VerDate Sep<11>2014
16:42 Jul 14, 2015
*
*
[FR Doc. 2015–17376 Filed 7–14–15; 8:45 am]
Jkt 235001
2. In appendix B to part 4022, Rate Set
262, as set forth below, is added to the
table.
■
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
*
4.00
*
*
*
*
*
*
i3
*
n1
*
4.00
n2
*
7
8
n1
n2
*
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
9–1–15
Issued in Washington, DC, on this 7th day
of July 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty
Corporation.
Authority: 29 U.S.C. 1302, 1322, 1322b,
1341(c)(3)(D), and 1344.
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
*
8–1–15
1. The authority citation for part 4022
continues to read as follows:
■
i2
*
4.00
1.50
*
Rate set
i1
*
9–1–15
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
*
8–1–15
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
1.50
i1
i2
*
4.00
i3
4.00
*
The Board updates for 2015
the fees that the public must pay to file
certain cases and pleadings with the
Board. The update will increase 11 fees
by $50 or less, increase 34 fees by $100,
increase 22 fees by more than $100, and
keep the remaining 58 fees at their
existing level.
DATES: These rules are effective August
14, 2015.
FOR FURTHER INFORMATION CONTACT:
David T. Groves, (202) 245–0327, or
Andrea Pope-Matheson (202) 245–0363.
[TDD for the hearing impaired: 1–800–
877–8339.]
SUPPLEMENTARY INFORMATION: The
Board’s regulations at 49 CFR 1002.3
provide for an annual update of the
Board’s entire user-fee schedule. Fees
are generally revised based on the cost
study formula set forth at 49 CFR
1002.3(d). As compared with the 2014
fee update, the 2015 fee changes
adopted here reflect a combination of a
SUMMARY:
PO 00000
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*
4.00
*
7
8
1% across-the-board increase to salary
costs; no change in publication cost
levels; increases to two of the three
Board Overhead cost factors; and a
modest decrease to the third Board
Overhead cost factor from its
comparable 2014 level, resulting from
the mechanical application of the
update formula in 49 CFR 1002.3(d).
Results from the formula application
indicate that justified fee amounts in
this 2015 update decision either remain
unchanged (58 fee items), increase $50
or less (11 fee items), increase by $100
(34 fee items) or increase over $100 (22
fee items) from their respective 2014
update levels. No new fee items are
proposed in this proceeding. Therefore,
the Board finds that notice and
comment are unnecessary for this
proceeding. See Regulations Governing
Fees for Servs.—1990 Update, 7 I.C.C.2d
3 (1990); Regulations Governing Fees for
Servs.—1991 Update, 8 I.C.C.2d 13
(1991); Regulations Governing Fees for
E:\FR\FM\15JYR1.SGM
15JYR1
]]>Agencies
[Federal Register Volume 80, Number 135 (Wednesday, July 15, 2015)]
[Rules and Regulations]
[Pages 41436-41437]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-17376]
=======================================================================
-----------------------------------------------------------------------
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 August 2015. The interest assumptions are used
for paying benefits under terminating single-employer plans covered by
the pension insurance system administered by PBGC.
DATES: Effective August 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 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 August 2015.\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 August 2015 interest assumptions under the benefit payments
regulation will be 1.50 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
[[Page 41437]]
status. In comparison with the interest assumptions in effect for July
2015, these interest assumptions represent an increase 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 August 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 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 262, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
262 8-1-15 9-1-15 1.50 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 262, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
262 8-1-15 9-1-15 1.50 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC, on this 7th day of July 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2015-17376 Filed 7-14-15; 8:45 am]
BILLING CODE 7709-02-P
