Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 7454-7455 [2016-02810]
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Federal Register / Vol. 81, No. 29 / Friday, February 12, 2016 / Rules and Regulations
the frequency and severity of alopecia
during chemotherapy in which
alopecia-inducing chemotherapeutic
agents are used.
(b) Classification—Class II (special
controls). The special controls for this
device are:
(1) Non-clinical performance testing
must demonstrate that the device meets
all design specifications and
performance requirements, and that the
device performs as intended under
anticipated conditions of use. This
information must include testing to
demonstrate accuracy of the
temperature control mechanism.
(2) Performance testing must
demonstrate the electromagnetic
compatibility and electrical safety of the
device.
(3) Software verification, validation,
and hazard analysis must be performed.
(4) The patient contacting
components of the device must be
demonstrated to be biocompatible.
Material names must be provided.
(5) Labeling must include the
following:
(i) A statement describing the
potential risk of developing scalp
metastasis.
(ii) Information on the patient
population and chemotherapeutic
agents/regimen for which the device has
been demonstrated to be effective.
(iii) A summary of the non-clinical
and/or clinical testing pertinent to use
of the device.
(iv) A summary of the device
technical parameters, including
temperature cooling range and duration
of cooling.
(v) A summary of the device- and
procedure-related adverse events
pertinent to use of the device.
(vi) Information on how the device
operates and the typical course of
treatment.
(6) Patient labeling must be provided
and must include:
(i) Relevant contraindications,
warnings, precautions, and adverse
effects/complications.
(ii) Information on how the device
operates and the typical course of
treatment.
(iii) Information on the patient
population for which there is clinical
evidence of effectiveness.
(iv) The potential risks and benefits
associated with use of the device.
(v) Postoperative care instructions.
(vi) A statement describing the
potential risk of developing scalp
metastasis.
VerDate Sep<11>2014
16:06 Feb 11, 2016
Jkt 238001
Dated: February 8, 2016.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2016–02878 Filed 2–11–16; 8:45 am]
BILLING CODE 4164–01–P
Dated: February 9, 2016.
David S. Newman,
Director of Legal Affairs, Visa Services,
Bureau of Consular Affairs, U.S. Department
of State.
[FR Doc. 2016–02962 Filed 2–11–16; 8:45 am]
BILLING CODE 4710–06–P
DEPARTMENT OF STATE
22 CFR Part 41
[Public Notice: 9439]
PENSION BENEFIT GUARANTY
CORPORATION
RIN 1400–AD17
29 CFR Part 4022
Visas: Documentation of
Nonimmigrants Under the Immigration
and Nationality Act, as Amended
Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions
for Paying Benefits
Department of State.
Interim final rule; correction.
AGENCY:
ACTION:
The Department of State
published a Federal Register interim
final rule on February 4, 2016, in
Volume 81, No. 23, page 5906. The
document contains an error in the
Regulatory Findings. This document
corrects the rule by replacing the text,
‘‘included elsewhere in this edition of
the Federal Register’’ with ‘‘published
in the Federal Register on February 8,
2016, 81 FR 6430.’’ There is also a
correction in the ADDRESSES section, to
provide the correct public notice
number to find the rule to submit
comments on www.regulations.gov.
DATES: This correction is effective on
February 19, 2016. Written comments
must be received on or before April 4,
2016.
FOR FURTHER INFORMATION CONTACT:
Paul-Anthony L. Magadia, U.S.
Department of State, Visa Services,
Legislation and Regulations Division,
Washington, DC 20006, 202–485–7641;
email: magadiapl@state.gov.
SUPPLEMENTARY INFORMATION: The
Department of State published an
interim final rule on February 4, 2016
(81 FR 5906); this document corrects
text in the ADDRESSES section and in the
discussion of Executive Order 12866.
SUMMARY:
Correction
In the FR Doc 2016–02191, appearing
on page 5906 in the Federal Register of
February 4, 2016 (81 FR 5906):
1. In the second column of page 5906,
third item under ADDRESSES, the term
‘‘XXXX’’ is corrected to read ‘‘9428.’’
2. In the third column of page 5907,
the first sentence of the discussion
regarding ‘‘Executive Order 12866:
Regulatory Review’’ is corrected to read:
‘‘The costs of this rulemaking are
discussed in the companion DHS rule,
RIN 1651–AB09, published in the
Federal Register on February 8, 2016,
81 FR 6430.’’
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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
March 2016. The interest assumptions
are used for paying benefits under
terminating single-employer plans
covered by the pension insurance
system administered by PBGC.
DATES: Effective March 1, 2016.
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.
SUMMARY:
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Federal Register / Vol. 81, No. 29 / Friday, February 12, 2016 / Rules and Regulations
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 March 2016.1
The March 2016 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 February 2016,
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 March 2016, 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).
For plans with a valuation date
On or after
*
269 ........................
Before
*
3–1–16
*
4–1–16
3. In appendix C to part 4022, add
Rate Set 269 to the table to read as
follows:
*
For plans with a valuation date
*
Authority: 29 U.S.C. 1302, 1322, 1322b,
1341(c)(3)(D), and 1344.
2. In appendix B to part 4022, add
Rate Set 269 to the table to read as
follows:
■
Appendix B to Part 4022—Lump Sum
Interest Rates For PBGC Payments
*
*
*
*
i3
*
4.00
*
3–1–16
*
*
*
n1
*
4.00
4.00
n2
*
7
8
*
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
Before
*
4–1–16
Issued in Washington, DC, on this 4th day
of February 2016.
Judith Starr,
General Counsel, Pension Benefit Guaranty
Corporation.
i1
i2
*
4.00
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Parts 9 and 721
[EPA–HQ–OPPT–2013–0399; FRL–9941–56]
RIN 2070–AB27
BILLING CODE 7709–02–P
i3
*
1.25
[FR Doc. 2016–02810 Filed 2–11–16; 8:45 am]
Significant New Use Rule on Certain
Chemical Substances
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
srobinson on DSK5SPTVN1PROD with RULES
1. The authority citation for part 4022
continues to read as follows:
■
i2
i1
1.25
*
Rate set
*
269 ........................
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
Appendix C to Part 4022—Lump Sum
Interest Rates For Private-Sector
Payments
■
On or after
Employee benefit plans, Pension
insurance, Pensions, Reporting and
recordkeeping requirements.
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
Deferred annuities
(percent)
Immediate
annuity rate
(percent)
Rate set
List of Subjects in 29 CFR Part 4022
n1
*
4.00
4.00
n2
*
7
chemical substances that were the
subject of premanufacture notices
(PMNs). This action requires persons
who intend to manufacture (including
import) or process any of the 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
prohibit or limit the activity before it
occurs.
EPA is finalizing significant
new use rules (SNURs) under the Toxic
Substances Control Act (TSCA) for three
DATES:
benefits under terminating covered single-employer
plans for purposes of allocation of assets under
ERISA section 4044. Those assumptions are
updated quarterly.
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
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This final rule is effective April
12, 2016.
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]]>Agencies
[Federal Register Volume 81, Number 29 (Friday, February 12, 2016)]
[Rules and Regulations]
[Pages 7454-7455]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-02810]
=======================================================================
-----------------------------------------------------------------------
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 March 2016. The interest assumptions are used
for paying benefits under terminating single-employer plans covered by
the pension insurance system administered by PBGC.
DATES: Effective March 1, 2016.
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.
[[Page 7455]]
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 March 2016.\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 March 2016 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 February 2016, 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 March 2016, 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, add Rate Set 269 to the table to read as
follows:
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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
269.................................... 3-1-16 4-1-16 1.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, add Rate Set 269 to the table to read as
follows:
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
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
269.................................... 3-1-16 4-1-16 1.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC, on this 4th day of February 2016.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2016-02810 Filed 2-11-16; 8:45 am]
BILLING CODE 7709-02-P
