Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 70170-70171 [2015-28763]
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70170
Federal Register / Vol. 80, No. 219 / Friday, November 13, 2015 / Rules and Regulations
which we bind ourselves, our heirs,
executors, administrators, successors, and
assigns, jointly and severally, by these
conditions.
WITNESS our hands and seals this __day
of ll, 20__. WHEREAS, the principal
(including the principal’s employees, agents,
and contractors) desires access to airport
customs security areas;
Now, Therefore, the Condition of this
Obligation is Such That—
The principal agrees to comply with the
CBP regulations applicable to customs
security areas at airports. If the principal
defaults on the condition of this obligation,
the principal and surety, jointly and
severally, agree to pay liquidated damages of
$1,000 for each default; or such other amount
as may be authorized by law or regulation.
This bond is effective ___, 20ll, and
remains in force for one year beginning with
the effective date and for each succeeding
annual period, or until terminated. This bond
constitutes a separate bond for each annual
period in the amount listed above for
liabilities that accrue in each annual period.
Signed, Sealed, and Delivered in the
Presence of —
Name
Address
Name
Address
Principal (SEAL)
Name
Address
Name
Address
Name
Address
Surety (SEAL)
Name
Address
Appendix B to Part 113 [Amended]
55. Appendix B to Part 113 is
amended by removing the word
‘‘Customs’’ each place that it appears
and adding in its place the term ‘‘CBP’’.
■
Appendix C to Part 113 [Amended]
56. Appendix C to Part 113 is
amended by removing the word
‘‘Customs’’ each place that it appears
and adding in its place the term ‘‘CBP’’.
jstallworth on DSK7TPTVN1PROD with RULES
■
Authority: 15 U.S.C. 1124, 1125, 1127; 17
U.S.C. 101, 601, 602, 603; 19 U.S.C. 66, 1202,
1499, 1526, 1624; 31 U.S.C. 9701;
PENSION BENEFIT GUARANTY
CORPORATION
*
29 CFR Part 4022
*
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Sections 133.21 through 133.25 also issued
under 18 U.S.C. 1905; Sec. 818(g), Pub. L.
112–81.
*
*
*
*
*
58. In § 133.25, paragraph (c) is
revised to read as follows:
■
§ 133.25 Procedure on detention of articles
subject to restriction.
*
*
*
*
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(c) Disclosure to the trademark or
trade name owner. At any time
following presentation of the
merchandise for CBP’s examination, but
prior to seizure, CBP may release a
sample of the suspect merchandise to
the owner of the trademark or trade
name for examination or testing to assist
in determining whether the article
imported bears an infringing trademark
or trade name. To obtain a sample under
this paragraph, the owner of the mark
must furnish to CBP a bond in the form
and amount specified by CBP,
conditioned to indemnify the importer
or owner of the imported article against
any loss or damage resulting from the
furnishing of the sample by CBP to the
owner of the mark. CBP may demand
the return of the sample at any time.
The owner must return the sample to
CBP upon demand or at the conclusion
of the examination or testing, whichever
occurs sooner. In the event that the
sample is damaged, destroyed, or lost
while in the possession of the trademark
or trade name owner, the owner must,
in lieu of returning the sample, certify
to CBP that: ‘‘The sample described as
[insert description] and provided
pursuant to 19 CFR 133.25(c) was
(damaged/destroyed/lost) during
examination or testing for trademark
infringement.’’
*
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R. Gil Kerlikowske,
Commissioner.
Approved: November 4, 2015.
Timothy E. Skud,
Deputy Assistant Secretary of the Treasury.
[FR Doc. 2015–28503 Filed 11–12–15; 8:45 am]
BILLING CODE 9111–14–P
PART 133—TRADEMARKS, TRADE
NAMES, AND COPYRIGHTS
57. The general and specific authority
citations for part 133 continue to read as
follows:
■
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Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions
for Paying Benefits
Pension Benefit Guaranty
Corporation.
AGENCY:
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
December 2015. The interest
assumptions are used for paying
benefits under terminating singleemployer plans covered by the pension
insurance system administered by
PBGC.
SUMMARY:
DATES:
Effective December 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.)
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
SUPPLEMENTARY INFORMATION:
E:\FR\FM\13NOR1.SGM
13NOR1
70171
Federal Register / Vol. 80, No. 219 / Friday, November 13, 2015 / Rules and Regulations
benefit payments interest assumptions
for December 2015.1
The December 2015 interest
assumptions under the benefit payments
regulation will be 1.25 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
2015, 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 payment of
benefits under plans with valuation
dates during December 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.
For plans with a valuation
date
On or after
Rate set
*
266 ....................................
Before
*
1–1–16
1.25
12–1–15
3. In appendix C to part 4022, Rate Set
266, as set forth below, is added to the
table.
■
*
For plans with a valuation
date
*
*
Before
*
12–1–15
*
1–1–16
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)
1.25
i1
i2
i3
4.00
*
4.00
4.00
*
*
*
7
8
EPA is amending the
significant new use rules (SNURs) under
section 5(a)(2) of the Toxic Substances
Control Act (TSCA) for five chemical
substances which were the subject of
[FR Doc. 2015–28763 Filed 11–12–15; 8:45 am]
premanufacture notices (PMNs). This
action amends the SNURs to allow
certain uses without requiring a
significant new use notice (SNUN), and
extends SNUN requirements to certain
additional uses. EPA is amending these
SNURs based on review of new data for
each chemical substance. This action
requires persons who intend to
manufacture (including import) or
process any of these chemical
substances for an activity that is
designated as a significant new use by
this rule to notify EPA at least 90 days
before commencing that activity. The
required notification would provide
EPA with the opportunity to evaluate
the intended use and, if necessary, to
benefits under terminating covered single-employer
plans for purposes of allocation of assets under
ERISA section 4044. Those assumptions are
updated quarterly.
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 721
[EPA–HQ–OPPT–2014–0649; FRL–9935–43]
RIN 2070–AB27
BILLING CODE 7709–02–P
Modification of Significant New Uses
of Certain Chemical Substances
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
SUMMARY:
jstallworth on DSK7TPTVN1PROD with RULES
2. In appendix B to part 4022, Rate Set
266, as set forth below, is added to the
table.
■
4.00
Immediate
annuity rate
(percent)
Issued in Washington, DC, on this 6th day
of November 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty
Corporation.
Authority: 29 U.S.C. 1302, 1322, 1322b,
1341(c)(3)(D), and 1344.
i1
*
On or after
*
266 ...................................
1. The authority citation for part 4022
continues to read as follows:
■
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
*
Rate set
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
*
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
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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13NOR1
]]>Agencies
[Federal Register Volume 80, Number 219 (Friday, November 13, 2015)]
[Rules and Regulations]
[Pages 70170-70171]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28763]
=======================================================================
-----------------------------------------------------------------------
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 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 December 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
[[Page 70171]]
benefit payments interest assumptions for December 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 December 2015 interest assumptions under the benefit payments
regulation will be 1.25 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 2015, 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 payment
of benefits under plans with valuation dates during December 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 266, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
266..................................... 12-1-15 1-1-16 1.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, Rate Set 266, 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
266..................................... 12-1-15 1-1-16 1.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC, on this 6th day of November 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2015-28763 Filed 11-12-15; 8:45 am]
BILLING CODE 7709-02-P
