Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits, 93599-93600 [2016-30634]

Download as PDF Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Rules and Regulations that in accordance with 21 U.S.C. 811(h)(4), the Administrator will take into consideration any comments submitted by the Assistant Secretary with regard to the proposed temporary scheduling order. Further, the DEA believes that this temporary scheduling action is not a ‘‘rule’’ as defined by 5 U.S.C. 601(2), and, accordingly, is not subject to the requirements of the Regulatory Flexibility Act (RFA). The requirements for the preparation of an initial regulatory flexibility analysis in 5 U.S.C. 603(a) are not applicable where, as here, the DEA is not required by section 553 of the APA or any other law to publish a general notice of proposed rulemaking. Additionally, this action is not a significant regulatory action as defined by Executive Order 12866 (Regulatory Planning and Review), section 3(f), and, accordingly, this action has not been reviewed by the Office of Management and Budget. This action will not have substantial direct effects on the States, on the relationship between the national government and the States, or on the distribution of power and responsibilities among the various levels of government. Therefore, in accordance with Executive Order 13132 (Federalism) it is determined that this action does not have sufficient federalism implications to warrant the preparation of a Federalism Assessment. List of Subjects in 21 CFR Part 1308 Administrative practice and procedure, Drug traffic control, Reporting and recordkeeping requirements. For the reasons set out above, the DEA amends 21 CFR part 1308 as follows: PART 1308—SCHEDULES OF CONTROLLED SUBSTANCES 1. The authority citation for part 1308 continues to read as follows: ■ Authority: 21 U.S.C. 811, 812, 871(b), unless otherwise noted. 2. In § 1308.11, add paragraphs (h)(23) through (28) to read as follows: ■ § 1308.11 * Schedule I * * (h) * * * * * (23) methyl 2-(1-(5-fluoropentyl)-1H-indazole-3-carboxamido)-3,3-dimethylbutanoate, its optical, positional, and geometric isomers, salts and salts of isomers (Other names: 5F–ADB; 5F–MDMB–PINACA) ........................................................................... (24) methyl 2-(1-(5-fluoropentyl)-1H-indazole-3-carboxamido)-3-methylbutanoate, its optical, positional, and geometric isomers, salts and salts of isomers (Other names: 5F–AMB) ....................................................................................................................... (25) N-(adamantan-1-yl)-1-(5-fluoropentyl)-1H-indazole-3-carboxamide, its optical, positional, and geometric isomers, salts and salts of isomers (Other names: 5F–APINACA, 5F–AKB48) ............................................................................................................ (26) N-(1-amino-3,3-dimethyl-1-oxobutan-2-yl)-1-(4-fluorobenzyl)-1H-indazole-3-carboxamide, its optical, positional, and geometric isomers, salts and salts of isomers (Other names: ADB–FUBINACA) ................................................................................ (27) methyl 2-(1-(cyclohexylmethyl)-1H-indole-3-carboxamido)-3,3-dimethylbutanoate, its optical, positional, and geometric isomers, salts and salts of isomers (Other names: MDMB–CHMICA, MMB–CHMINACA) ................................................................ (28) methyl 2-(1-(4-fluorobenzyl)-1H-indazole-3-carboxamido)-3,3-dimethylbutanoate, its optical, positional, and geometric isomers, salts and salts of isomers (Other names: MDMB–FUBINACA) ............................................................................................ Dated: December 13, 2016. Chuck Rosenberg, Acting Administrator. [FR Doc. 2016–30595 Filed 12–20–16; 8:45 am] BILLING CODE 4410–09–P PENSION BENEFIT GUARANTY CORPORATION 29 CFR Part 4044 Allocation of Assets in SingleEmployer Plans; Interest Assumptions for Valuing Benefits Pension Benefit Guaranty Corporation. ACTION: Final rule. AGENCY: This final rule amends the Pension Benefit Guaranty Corporation’s regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for valuation dates in the first quarter of 2017. The interest assumptions are used for valuing benefits under terminating singleemployer plans covered by the pension insurance system administered by PBGC. As discussed below, PBGC has published a separate final rule document dealing with interest asabaliauskas on DSK3SPTVN1PROD with RULES SUMMARY: VerDate Sep<11>2014 17:05 Dec 20, 2016 Jkt 241001 assumptions under its regulation on Benefits Payable in Terminated SingleEmployer Plans for January 2017. DATES: Effective January 1, 2017. FOR FURTHER INFORMATION CONTACT: Deborah C. Murphy (Murphy.Deborah@ PBGC.gov), Assistant General Counsel for Regulatory Affairs, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005, 202–326– 4400 ext. 3451. (TTY/TDD users may call the Federal relay service toll free at 1–800–877–8339 and ask to be connected to 202–326–4400 ext. 3451.) SUPPLEMENTARY INFORMATION: PBGC’s regulation on Allocation of Assets in Single-Employer Plans (29 CFR part 4044) prescribes actuarial assumptions—including interest assumptions—for valuing 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). The interest assumptions in Appendix B to Part 4044 are used to value benefits for allocation purposes under ERISA section 4044. Assumptions under the asset allocation regulation are updated quarterly and are intended to reflect PO 00000 Frm 00029 Fmt 4700 Sfmt 4700 93599 (7034) (7033) (7049) (7010) (7042) (7020) current conditions in the financial and annuity markets. This final rule updates the asset allocation interest assumptions for the first quarter (January through March) of 2017. The first quarter 2017 interest assumptions under the allocation regulation will be 1.87 percent for the first 20 years following the valuation date and 2.37 percent thereafter. In comparison with the interest assumptions in effect for the fourth quarter of 2016, these interest assumptions represent no change in the select period (the period during which the select rate (the initial rate) applies), a decrease of 0.11 percent in the select rate, and a decrease of 0.30 percent in the ultimate rate (the final rate). 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 of benefits under plans with valuation dates during the first quarter of 2017, PBGC finds that good cause exists for E:\FR\FM\21DER1.SGM 21DER1 93600 Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Rules and Regulations 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 4044 Employee benefit plans, Pension insurance, Pensions. In consideration of the foregoing, 29 CFR part 4044 is amended as follows: 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 * it Signed in Washington, DC. Deborah Chase Murphy, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. for t = * 0.0187 * * January–March 2017 ................................ it 1–20 * * 0.0237 DEPARTMENT OF THE INTERIOR National Park Service Background 36 CFR Part 7 Description of Cape Hatteras National Seashore [FR Doc. 2016–30634 Filed 12–20–16; 8:45 am] BILLING CODE 7709–02–P [NPS–SER–CAHA–22533; PPSECAHAS0, PPMPSPD1Z.YM0000] RIN 1024–AE33 Special Regulations; Areas of the National Park System, Cape Hatteras National Seashore—Off-Road Vehicle Management National Park Service, Interior. Final rule. AGENCY: The National Park Service (NPS) amends its special regulation for off-road vehicle (ORV) use at Cape Hatteras National Seashore, North Carolina, to revise the times that certain beaches open to ORV use in the morning, to extend the dates that certain seasonal ORV routes are open in the fall and spring, and to modify the size and location of certain vehicle-free areas. The NPS was required to consider these changes by section 3057 of the National Defense Authorization Act for Fiscal Year 2015. The NPS also amends this special regulation to allow the Superintendent to issue ORV permits for different lengths of time than are currently allowed, and to remove an ORV route designation on Ocracoke Island to allow vehicle access to a asabaliauskas on DSK3SPTVN1PROD with RULES VerDate Sep<11>2014 17:05 Dec 20, 2016 Jkt 241001 * * for t = soundside area without the requirement of an ORV permit. DATES: This rule is effective on January 20, 2017. FOR FURTHER INFORMATION CONTACT: Superintendent, Cape Hatteras National Seashore, 1401 National Park Drive, Manteo, North Carolina 27954. Phone 252–475–9032. SUPPLEMENTARY INFORMATION: SUMMARY: * * 1. The authority citation for part 4044 continues to read as follows: ■ The values of it are: For valuation dates occurring in the month— ACTION: 2. In appendix B to part 4044, a new entry for January–March 2017, as set forth below, is added to the table. ■ Situated along the Outer Banks of North Carolina, Cape Hatteras National Seashore (Seashore or park) was authorized by Congress in 1937 and established in 1953 as the nation’s first national seashore. Consisting of more than thirty thousand acres distributed along approximately 67 miles of shoreline, the Seashore is part of a dynamic barrier island system. The Seashore contains important wildlife habitat created by dynamic environmental processes. Several species listed under the Endangered Species Act, including the piping plover, rufa subspecies of the red knot, and five species of sea turtles, are found within the park. The Seashore also serves as a popular recreation destination where users participate in a variety of activities. Authority and Jurisdiction To Promulgate Regulations In the NPS Organic Act (54 U.S.C. 100101), Congress granted the NPS broad authority to regulate the use of areas under its jurisdiction. The Organic Act authorizes the Secretary of the Interior, acting through the NPS, to ‘‘prescribe such regulations as the Secretary considers necessary or proper PO 00000 Frm 00030 Fmt 4700 Sfmt 4700 it * >20 for t = * N/A N/A for the use and management of [National Park] System units.’’ 54 U.S.C. 100751(a). Off-Road Motor Vehicle Regulation Executive Order 11644, Use of OffRoad Vehicles on the Public Lands, was issued in 1972 in response to the widespread and rapidly increasing offroad driving on public lands ‘‘often for legitimate purposes but also in frequent conflict with wise land and resource management practices, environmental values, and other types of recreational activity.’’ Executive Order 11644 was amended by Executive Order 11989 in 1977, and together they are jointly referred to in this rule as the ‘‘E.O.’’ The E.O. requires Federal agencies that allow motorized vehicle use in off-road areas to designate specific areas and routes on public lands where the use of motorized vehicles may be permitted and to minimize user conflicts and resource impacts. The NPS regulation at 36 CFR 4.10(b) implements the E.O. and requires that routes and areas designated for ORV use be promulgated as special regulations and that the designation of routes and areas must comply with 36 CFR 1.5 and E.O. 11644. It also states that ORV routes and areas may be designated only in national recreation areas, national seashores, national lakeshores, and national preserves. This rule is consistent with these authorities and with Section 8.2.3.1 (Motorized Off-road Vehicle Use) of NPS Management Policies 2006, available at: https:// www.nps.gov/policy/mp/policies.html. Recent ORV Management at Cape Hatteras National Seashore In 2010, the NPS completed the OffRoad Vehicle Management Plan and Environmental Impact Statement (ORV E:\FR\FM\21DER1.SGM 21DER1

Agencies

[Federal Register Volume 81, Number 245 (Wednesday, December 21, 2016)]
[Rules and Regulations]
[Pages 93599-93600]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-30634]


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PENSION BENEFIT GUARANTY CORPORATION

29 CFR Part 4044


Allocation of Assets in Single-Employer Plans; Interest 
Assumptions for Valuing Benefits

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: This final rule amends the Pension Benefit Guaranty 
Corporation's regulation on Allocation of Assets in Single-Employer 
Plans to prescribe interest assumptions under the asset allocation 
regulation for valuation dates in the first quarter of 2017. The 
interest assumptions are used for valuing benefits under terminating 
single-employer plans covered by the pension insurance system 
administered by PBGC. As discussed below, PBGC has published a separate 
final rule document dealing with interest assumptions under its 
regulation on Benefits Payable in Terminated Single-Employer Plans for 
January 2017.

DATES: Effective January 1, 2017.

FOR FURTHER INFORMATION CONTACT: Deborah C. Murphy 
(Murphy.Deborah@PBGC.gov), Assistant General Counsel for Regulatory 
Affairs, Office of the General Counsel, Pension Benefit Guaranty 
Corporation, 1200 K Street NW., Washington, DC 20005, 202-326-4400 ext. 
3451. (TTY/TDD users may call the Federal relay service toll free at 1-
800-877-8339 and ask to be connected to 202-326-4400 ext. 3451.)

SUPPLEMENTARY INFORMATION: PBGC's regulation on Allocation of Assets in 
Single-Employer Plans (29 CFR part 4044) prescribes actuarial 
assumptions--including interest assumptions--for valuing 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).
    The interest assumptions in Appendix B to Part 4044 are used to 
value benefits for allocation purposes under ERISA section 4044. 
Assumptions under the asset allocation regulation are updated quarterly 
and are intended to reflect current conditions in the financial and 
annuity markets. This final rule updates the asset allocation interest 
assumptions for the first quarter (January through March) of 2017.
    The first quarter 2017 interest assumptions under the allocation 
regulation will be 1.87 percent for the first 20 years following the 
valuation date and 2.37 percent thereafter. In comparison with the 
interest assumptions in effect for the fourth quarter of 2016, these 
interest assumptions represent no change in the select period (the 
period during which the select rate (the initial rate) applies), a 
decrease of 0.11 percent in the select rate, and a decrease of 0.30 
percent in the ultimate rate (the final rate).
    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 
of benefits under plans with valuation dates during the first quarter 
of 2017, PBGC finds that good cause exists for

[[Page 93600]]

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 4044

    Employee benefit plans, Pension insurance, Pensions.

    In consideration of the foregoing, 29 CFR part 4044 is amended as 
follows:

PART 4044--ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS

0
1. 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
2. In appendix B to part 4044, a new entry for January-March 2017, 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 2017................................          0.0187             1-20           0.0237              >20              N/A              N/A
--------------------------------------------------------------------------------------------------------------------------------------------------------


    Signed in Washington, DC.
Deborah Chase Murphy,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2016-30634 Filed 12-20-16; 8:45 am]
BILLING CODE 7709-02-P
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