Notice of Public Meeting, 28872-28873 [2018-13357]
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28872
Federal Register / Vol. 83, No. 120 / Thursday, June 21, 2018 / Notices
amozie on DSK3GDR082PROD with NOTICES1
• Email: paperwork.comments@
pbgc.gov. Refer to Withdrawal Liability
Survey in the subject line.
• Mail or Hand Delivery: Regulatory
Affairs Division, Office of the General
Counsel, Pension Benefit Guaranty
Corporation, 1200 K Street NW,
Washington, DC 20005–4026.
All submissions received must
include the agency’s name (Pension
Benefit Guaranty Corporation, or PBGC)
and refer to the Withdrawal Liability
Survey. All comments received will be
posted without change to PBGC’s
website, www.pbgc.gov, including any
personal information provided. Copies
of the collection of information may be
obtained by writing to Disclosure
Division, Office of the General Counsel,
Pension Benefit Guaranty Corporation,
1200 K Street NW, Washington, DC
20005–4026, or calling 202–326–4040
during normal business hours. TTY
users may call the Federal relay service
toll-free at 800–877–8339 and ask to be
connected to 202–326–4040.
FOR FURTHER INFORMATION CONTACT:
Hilary Duke, Assistant General Counsel
for Regulatory Affairs, Office of the
General Counsel, Pension Benefit
Guaranty Corporation, 1200 K Street
NW, Washington, DC 20005–4026, 202–
326–4400, extension 3839. TTY users
may call the Federal relay service tollfree at 1–800–877–8339 and ask to be
connected to 202–326–4400, extension
3839.
SUPPLEMENTARY INFORMATION: When a
contributing employer withdraws from
an underfunded multiemployer pension
plan, the plan sponsor assesses
withdrawal liability against the
employer. The plan sponsor is required
to determine and collect withdrawal
liability in accordance with section
4219 of the Employee Retirement
Income Security Act of 1974 (ERISA).
The plan sponsor assesses withdrawal
liability by issuing a notice to an
employer, including the amount of the
employer’s liability and a schedule of
payments. PBGC’s regulation on Notice,
Collection, and Redetermination of
Withdrawal Liability (29 CFR part 4219)
requires the plan sponsor to file with
PBGC a certification that notices have
been provided to employers.
PBGC is proposing to collect
information about withdrawal liability
that is owed by withdrawn employers of
terminated 1 and insolvent 2
1 Under section 4041A(f)(2) of ERISA, PBGC may
prescribe reporting requirements for terminated
multiemployer pension plans, which PBGC
considers appropriate to protect the interests of
plan participants and beneficiaries or to prevent
unreasonable loss to the corporation.
2 Under section 4261(b)(1) of ERISA, PBGC
provides financial assistance under such conditions
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multiemployer pension plans. PBGC
would distribute a survey that insolvent
plans receiving financial assistance and
terminated plans not yet receiving
financial assistance would be required
to complete and return to PBGC.
Smaller plans with less than 500
participants would not be required to
complete the survey. PBGC needs the
information from the survey about
withdrawal liability payments and
settlements, and whether employers
have withdrawn from the plan but have
not yet been assessed withdrawal
liability, to estimate with more
precision PBGC’s multiemployer
liabilities for purposes of its financial
statements.3 PBGC would also use the
information for its Multiemployer
Pension Insurance Modelling System
assumptions on collection of
withdrawal liability. Information
provided to PBGC would be confidential
to the extent provided in the Freedom
of Information Act and the Privacy Act.
The survey would be sent to
approximately 65 plans.4 PBGC
estimates that each survey would
require approximately 4 hours to
complete by a combination of pension
fund office staff (50%) and outside
attorneys (50%). PBGC estimates an
hour burden of 130 hours (based on
pension fund office time). The estimated
dollar equivalent of this hour burden,
based on an assumed hourly rate of $75
for administrative, clerical, and
supervisory time is $9,750. PBGC
estimates a cost burden for the
withdrawal liability survey of $52,000
(based on 130 attorney hours assuming
an average hourly rate of $400). PBGC
further estimates that the average
burden will be 2 hours of pension fund
office staff time and $800 per plan.
PBGC intends to request that OMB
approve PBGC’s use of this survey for
three years. An agency may not conduct
or sponsor, and a person is not required
to respond to, a collection of
information unless it displays a
currently valid OMB control number.
as the corporation determines are equitable and are
appropriate to prevent unreasonable loss to the
corporation with respect to the plan.
3 Section 4008 of ERISA requires the corporation,
as soon as practicable after the close of each fiscal
year, to transmit a report to the President and the
Congress, including financial statements setting
forth the finances of the corporation at the end of
the fiscal year and the result of its operations
(including the source and application of its funds)
for the fiscal year.
4 As of September 30, 2017, there were 68
terminated plans not yet receiving financial
assistance and 72 insolvent plans that received
financial assistance from PBGC. See PBGC FY 2017
Annual Report, page 94 at https://www.pbgc.gov/
sites/default/files/pbgc-annual-report-2017.pdf.
Approximately 65 of the plans have 500 or more
participants.
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PBGC is soliciting public comments
to—
• Evaluate whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
collection of information, including the
validity of the methodology and
assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submission of
responses.
Issued in Washington, DC
Hilary Duke,
Assistant General Counsel for Regulatory
Affairs, Pension Benefit Guaranty
Corporation.
[FR Doc. 2018–13330 Filed 6–20–18; 8:45 am]
BILLING CODE 7709–02–P
PRESIDIO TRUST
Notice of Public Meeting
The Presidio Trust.
Notice of public meeting.
AGENCY:
ACTION:
In accordance with the
Presidio Trust Act, and in accordance
with the Presidio Trust’s bylaws, notice
is hereby given that a public meeting of
the Presidio Trust Board of Directors
will be held commencing 4:30 p.m. on
July 25, 2018, at the Officers’ Club, 50
Moraga Avenue, Presidio of San
Francisco, California.
The purposes of this meeting are: To
provide the Board Chair’s report; to
provide the Chief Executive Officer’s
report; to receive selected presentations
of concept proposals for development of
the Fort Scott site; to receive public
comment on the selected concept
proposals for the Fort Scott site; to
consider and potentially select which
proposers will be invited to respond to
a Request for Proposal for the Fort Scott
site; and to receive public comment on
other matters pertaining to Trust
business.
Individuals requiring special
accommodation at this meeting, such as
needing a sign language interpreter,
should contact Mollie Matull at 415–
561–5300 prior to July 18, 2018.
SUMMARY:
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Federal Register / Vol. 83, No. 120 / Thursday, June 21, 2018 / Notices
The meeting will begin at 4:30
p.m. on July 25, 2018.
ADDRESSES: The meeting will be held at
the Officers’ Club, 50 Moraga Avenue,
Presidio of San Francisco.
FOR FURTHER INFORMATION CONTACT:
Nancy J. Koch, General Counsel, the
Presidio Trust, 103 Montgomery Street,
P.O. Box 29052, San Francisco,
California 94129–0052, Telephone: 415–
561–5300.
DATES:
Dated: June 15, 2018.
Nancy J. Koch,
General Counsel.
[FR Doc. 2018–13357 Filed 6–20–18; 8:45 am]
BILLING CODE 4310–4R–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–83453; File No. SR–CBOE–
2018–041]
Self-Regulatory Organizations; Cboe
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Related to Physical Port
Fees for Cboe Options
June 15, 2018,
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on June 1,
2018, Cboe Exchange, Inc. (the
‘‘Exchange’’ or ‘‘Cboe Options’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
amozie on DSK3GDR082PROD with NOTICES1
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
Fees Schedule. The text of the proposed
rule change is also available on the
Exchange’s website (https://
www.cboe.com/AboutCBOE/
CBOELegalRegulatoryHome.aspx), at
the Exchange’s Office of the Secretary,
and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend its
fees for Network Access Ports used for
Disaster Recovery, effective June 1,
2018. Currently, the Exchange assesses
$250 per port, per month for 1 gigabit
(Gbps) and 10 Gbps Network Access
Ports that connect to the Exchange’s
Disaster Recovery Systems in Chicago
(‘‘Disaster Recovery Ports’’). The
Exchange proposes to increase its fees
for Disaster Recovery Ports. Specifically,
the Exchange proposes to assess a
monthly fee of $2,000 per 1 Gbps
Disaster Recovery Port and a monthly
fee of $6,000 per 10 Gbps Disaster
Recovery Port. This amount will
continue to enable the Exchange to
maintain the Disaster Recovery Ports in
case they become necessary. The
Exchange notes that the Disaster
Recovery Ports may now also be used to
access the Disaster Recovery Systems for
the following affiliate exchanges: Cboe
BZX Exchange, Inc., Cboe EDGX
Exchange, Inc., Cboe EDGA Exchange,
Inc., Cboe C2 Exchange, Inc., Cboe BYX
Exchange, Inc. and Cboe Futures
Exchange, LLC (‘‘Affiliated Exchanges’’).
The Exchange proposes to provide that
market participants will only be
assessed a single fee for any Disaster
Recovery Port that also accesses the
Disaster Recovery Systems for these
exchanges.3
Lastly, the Exchange notes that the
Fees Schedule currently provides that
separate Network Access Port fees are
assessed for unicast (orders, quotes) and
multicast (market data) connectivity and
includes a parenthetical that clarifies
that ‘‘if a TPH uses the 1 Gbps Disaster
Recovery Network Access Port for
unicast and multicast connectivity, the
TPH will be charged $500 per month’’.
The exchange notes that certain
Network Access Ports that connect to
the Disaster Recovery Systems are able
3 For example, if a market participant uses a 1
Gbps Disaster Recovery Port to connect to the
Disaster Recovery Systems for both Cboe Options
and EDGX, the market participant would only be
assessed one monthly fee of $2,000.
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28873
to receive both multicast and unicast
traffic, whereas other Network Access
Ports can only receive one type of
connectivity each (thus requiring a
market participants to maintain two
ports if that market participant desires
both types of connectivity).
Accordingly, market participants are
currently assessed fees based on
connectivity (i.e., a TPH is charged two
port fees regardless of whether it
receives both unicast and multicast
connectivity over a single port or each
type of connectivity over two separate
ports). The Exchange notes that physical
ports, including Disaster Recovery Ports,
at its Affiliated Exchanges allow for
unicast and multicast connectivity to be
received through a single port and that
those Exchanges therefore assess only a
‘‘per port’’ fee (instead of a ‘‘per
connectivity type’’ fee). Since market
participants will be able to use Disaster
Recovery Ports to access the Disaster
Recovery Systems of Cboe Options and
its Affiliated Exchanges, the Exchange
proposes to no longer charge for unicast
and multicast connectivity separately
for Disaster Recovery Ports. Therefore,
the Exchange proposes to eliminate the
clarification pertaining to Disaster
Recovery Ports currently in the
parenthetical in the Notes section.
Similarly, the Exchange also proposes to
make clear in the Fees Schedule that if
a market participant maintains two
Disaster Recovery Ports of the same size
in order to receive unicast and multicast
connectivity (i.e., they cannot receive
both connectivity types over 1 port),
then the Exchange will only assess one
Disaster Recovery Port fee (e.g., if a TPH
has two 1 Gb Disaster Recovery Ports,
one of which receives unicast traffic and
the other of which only receives
multicast traffic, that TPH will be
assessed $2,000, instead of $4,000).
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.4 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
6(b)(5) 5 requirements that the rules of
an exchange be designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
4 15
5 15
E:\FR\FM\21JNN1.SGM
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
21JNN1
]]>Agencies
[Federal Register Volume 83, Number 120 (Thursday, June 21, 2018)]
[Notices]
[Pages 28872-28873]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-13357]
=======================================================================
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PRESIDIO TRUST
Notice of Public Meeting
AGENCY: The Presidio Trust.
ACTION: Notice of public meeting.
-----------------------------------------------------------------------
SUMMARY: In accordance with the Presidio Trust Act, and in accordance
with the Presidio Trust's bylaws, notice is hereby given that a public
meeting of the Presidio Trust Board of Directors will be held
commencing 4:30 p.m. on July 25, 2018, at the Officers' Club, 50 Moraga
Avenue, Presidio of San Francisco, California.
The purposes of this meeting are: To provide the Board Chair's
report; to provide the Chief Executive Officer's report; to receive
selected presentations of concept proposals for development of the Fort
Scott site; to receive public comment on the selected concept proposals
for the Fort Scott site; to consider and potentially select which
proposers will be invited to respond to a Request for Proposal for the
Fort Scott site; and to receive public comment on other matters
pertaining to Trust business.
Individuals requiring special accommodation at this meeting, such
as needing a sign language interpreter, should contact Mollie Matull at
415-561-5300 prior to July 18, 2018.
[[Page 28873]]
DATES: The meeting will begin at 4:30 p.m. on July 25, 2018.
ADDRESSES: The meeting will be held at the Officers' Club, 50 Moraga
Avenue, Presidio of San Francisco.
FOR FURTHER INFORMATION CONTACT: Nancy J. Koch, General Counsel, the
Presidio Trust, 103 Montgomery Street, P.O. Box 29052, San Francisco,
California 94129-0052, Telephone: 415-561-5300.
Dated: June 15, 2018.
Nancy J. Koch,
General Counsel.
[FR Doc. 2018-13357 Filed 6-20-18; 8:45 am]
BILLING CODE 4310-4R-P
