Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits, 55055-55056 [2019-22381]
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Federal Register / Vol. 84, No. 199 / Tuesday, October 15, 2019 / Rules and Regulations
(3) Observer present. Conduct halibut
deck sorting only when an observer is
present in the deck sampling station.
(4) Time limit. Conduct halibut deck
sorting only within the time limit
indicated on the Observer Sampling
Station Inspection Report. The time
limit begins when the codend is opened
on deck. When the time limit is reached,
all halibut deck sorting must stop.
(5) Single sorting pathway. Convey all
halibut sorted on deck to the observer
deck sampling station via a single
pathway.
(6) Careful handling. Handle all
halibut sorted on deck with a minimum
of injury.
(7) Sorting pace. Do not pressure or
rush the observer to move halibut
through the sampling process faster than
the observer can handle.
(8) Visual signal. Use a visual signal
to indicate to vessel crew when catch
may not to be weighed on a NMFSapproved scale specified in paragraph
(b)(1) of this section. The visual signal
must be on the conveyor belt adjacent
to the flow scale and visible in the view
of a camera required at § 679.28(b)(8).
§ 679.121
[Reserved]
[FR Doc. 2019–22198 Filed 10–11–19; 8:45 am]
DATES:
Effective October 21, 2019.
FOR FURTHER INFORMATION CONTACT:
29 CFR Part 4022
In FR Doc.
19–13609 appearing on page 43872 in
the Federal Register of Thursday,
August 22, 2019, the following
corrections are made:
AGENCY:
§ 200.30–3
[Corrected]
1. On page 44041, in the first column,
in part 200, in amendment 2, the
instruction ‘‘Section 200.30–3 is
amended by revising paragraphs (a)(7)
introductory text, (a)(7)(i) and (iv),
(a)(7)(vi)(A) and (C) through (F),
(a)(7)(vii) and (a)(10)(i) to read as
follows:’’ is corrected to read ‘‘Section
200.30–3 is amended by revising
paragraphs (a)(7) introductory text,
(a)(7)(i) and (iv), (a)(7)(vi)(A) and (C)
through (E), adding paragraphs
(a)(7)(vi)(F) and (a)(7)(vii), and revising
paragraph (a)(10)(i) to read as follows:’’
■
Part 240 [Corrected]
BILLING CODE 3510–22–P
2. On page 44041, in the third column,
in part 240, in amendment 3, the
instruction ‘‘The general authority
citation for part 240 is revised, the
sectional authorities for §§ 240.15c3–1
and 240.15c3–3 are revised, adding
sectional authorities for §§ 240.15c3–1a,
240.15c3–1e, 240.15c3–3, 240.18a–1,
240.18a–1a, 240.18a–1b, 240.18a–1c,
240.18a–1d, 240–18a–2, 240.18a–3 and
240.18a–4 in numerical order to read as
follows.’’ is corrected to read ‘‘The
general authority citation for part 240 is
revised, the sectional authorities for
§§ 240.15c3–1 and 240.15c3–3 are
revised, and sectional authorities for
§§ 240.18a–1, 240.18a–1a, 240.18a–1b,
240.18a–1c, 240.18a–1d, 240–18a–2,
240.18a–3, and 240.18a–10 and
§ 240.18a–4 are added in numerical
order to read as follows:’’
■
SECURITIES AND EXCHANGE
COMMISSION
17 CFR Parts 200 and 240
[Release No. 34–86175A; File No. S7–08–
12]
RIN 3235–AL12
Capital, Margin, and Segregation
Requirements for Security-Based
Swap Dealers and Major SecurityBased Swap Participants and Capital
and Segregation Requirements for
Broker-Dealers; Correction
Securities and Exchange
Commission.
ACTION: Final rule; correction.
AGENCY:
The Commission is correcting
a final rule that appeared in the Federal
Register on August 22, 2019. In the
document, the Commission adopted
capital and margin requirements for
security-based swap dealers (‘‘SBSDs’’)
and major security-based swap
participants (‘‘MSBSPs’’), segregation
requirements for SBSDs, and
notification requirements with respect
to segregation for SBSDs and MSBSPs in
accordance with the Dodd-Frank Wall
Street Reform and Consumer Protection
Act.
khammond on DSKJM1Z7X2PROD with RULES
SUMMARY:
VerDate Sep<11>2014
15:53 Oct 11, 2019
Jkt 250001
PENSION BENEFIT GUARANTY
CORPORATION
Sheila Dombal Swartz, Senior Special
Counsel, at (202) 551–5545; Division of
Trading and Markets, Securities and
Exchange Commission, 100 F Street NE,
Washington, DC 20549–7010.
SUPPLEMENTARY INFORMATION:
Dated: October 4, 2019.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2019–22053 Filed 10–11–19; 8:45 am]
BILLING CODE 8011–01–P
PO 00000
Frm 00039
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55055
Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions
for Paying Benefits
Pension Benefit Guaranty
Corporation.
ACTION: Final rule.
This final rule amends the
Pension Benefit Guaranty Corporation’s
regulation on Benefits Payable in
Terminated Single-Employer Plans to
prescribe certain interest assumptions
under the regulation for plans with
valuation dates in November 2019.
These interest assumptions are used for
paying certain benefits under
terminating single-employer plans
covered by the pension insurance
system administered by PBGC.
DATES: Effective November 1, 2019.
FOR FURTHER INFORMATION CONTACT:
Gregory Katz (katz.gregory@pbgc.gov),
Attorney, Regulatory Affairs Division,
Pension Benefit Guaranty Corporation,
1200 K Street NW, Washington, DC
20005, 202–326–4400 ext. 3829. (TTY
users may call the Federal relay service
toll-free at 1–800–877–8339 and ask to
be connected to 202–326–4400, ext.
3829.)
SUMMARY:
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 terminated single-employer plans
covered by title IV of the Employee
Retirement Income Security Act of 1974
(ERISA). The interest assumptions in
the regulation are also published on
PBGC’s website (https://www.pbgc.gov).
PBGC uses the interest assumptions in
appendix B to part 4022 (‘‘Lump Sum
Interest Rates for PBGC Payments’’) to
determine whether a benefit is payable
as a lump sum and to determine the
amount to pay. Because some privatesector pension plans use these interest
rates to determine lump sum amounts
payable to plan participants (if the
resulting lump sum is larger than the
amount required under section 417(e)(3)
of the Internal Revenue Code and
section 205(g)(3) of ERISA), these rates
are also provided in appendix C to part
4022 (‘‘Lump Sum Interest Rates for
Private-Sector Payments’’).
This final rule updates appendices B
and C of the benefits payment regulation
to provide the rates for November 2019
measurement dates.
SUPPLEMENTARY INFORMATION:
E:\FR\FM\15OCR1.SGM
15OCR1
55056
Federal Register / Vol. 84, No. 199 / Tuesday, October 15, 2019 / Rules and Regulations
The November 2019 lump sum
interest assumptions will be 0.25
percent for the period during which a
benefit is (or is assumed to be) 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 October 2019,
these assumptions represent an increase
of 0.25 percent in the immediate rate
and are otherwise unchanged.
PBGC updates appendices B and C
each month. 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 issue
new interest assumptions promptly so
that they are available for plans that rely
on our publication of them each month
to calculate lump sum benefit amounts.
Because of the need to provide
immediate guidance for the payment of
benefits under plans with valuation
dates during November 2019, 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
Rate set
313
On or after
Before
Immediate
annuity
rate
(percent)
11–1–19
12–1–19
0.25
3. In appendix C to part 4022, rate set
313 is added at the end of the table to
read as follows:
■
For plans with a valuation
date
On or after
*
Before
*
313
BILLING CODE 7709–02–P
DEPARTMENT OF DEFENSE
Office of the Secretary
32 CFR Part 78
khammond on DSKJM1Z7X2PROD with RULES
[Docket ID: DOD–2019–OS–0012]
RIN 0790–AK19
Voluntary State Tax Withholding From
Retired Pay
Office of the Under Secretary of
Defense (Comptroller), DoD.
ACTION: Direct final rule.
AGENCY:
17:42 Oct 11, 2019
Jkt 250001
Authority: 29 U.S.C. 1302, 1322, 1322b,
1341(c)(3)(D), and 1344.
2. In appendix B to part 4022, rate set
313 is added at the end of the table to
read as follows:
■
Appendix B to Part 4022—Lump Sum
Interest Rates for PBGC Payments
*
*
*
*
*
i1
i2
i3
n1
n2
4.00
4.00
4.00
7
8
*
n1
n2
*
*
Immediate
annuity
rate
(percent)
0.25
Deferred annuities
(percent)
i1
i2
*
4.00
4.00
i3
*
This direct final rule removes
DoD’s regulation on the voluntary state
income tax withholding from the
monthly retired or retainer pay of any
member or former member of the
uniformed Services. That regulation is
unnecessary because it restates current
law; sets forth internal policy and
procedures; and conveys to the public
administrative and procedural
information that does not require
rulemaking. Accordingly, DoD will
remove this part and publish a
document in the Federal Register
informing the States and current and
former members of that administrative
information, such as where to submit
requests for income withholding.
SUMMARY:
[FR Doc. 2019–22381 Filed 10–11–19; 8:45 am]
VerDate Sep<11>2014
*
12–1–19
Issued in Washington, DC.
Hilary Duke,
Assistant General Counsel for Regulatory
Affairs, Pension Benefit Guaranty
Corporation.
1. The authority citation for part 4022
continues to read as follows:
■
Deferred annuities
(percent)
*
11–1–19
PART 4022—BENEFITS PAYABLE IN
TERMINATED SINGLE-EMPLOYER
PLANS
Appendix C to Part 4022—Lump Sum
Interest Rates for Private-Sector
Payments
*
Rate set
In consideration of the foregoing, 29
CFR part 4022 is amended as follows:
This rule is effective November
25, 2019 without further action, unless
adverse comment is received by
November 14, 2019. If adverse comment
is received, DoD will publish a timely
DATES:
PO 00000
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Fmt 4700
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*
4.00
*
7
8
withdrawal of the rule in the Federal
Register.
You may submit comments,
identified by docket number and/or RIN
number and title, by any of the
following methods:
• Federal Rulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Mail: Department of Defense, Office
of the Chief Management Officer,
Directorate for Oversight and
Compliance, 4800 Mark Center Drive,
Suite 08D09, Attn: Mailbox 24,
Alexandria, VA 22350–1700.
Instructions: All submissions received
must include the agency name and
docket number or Regulatory
Information Number (RIN) for this
Federal Register document. The general
policy for comments and other
submissions from members of the public
is to make these submissions available
ADDRESSES:
E:\FR\FM\15OCR1.SGM
15OCR1
]]>Agencies
[Federal Register Volume 84, Number 199 (Tuesday, October 15, 2019)]
[Rules and Regulations]
[Pages 55055-55056]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22381]
=======================================================================
-----------------------------------------------------------------------
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 certain interest assumptions under the
regulation for plans with valuation dates in November 2019. These
interest assumptions are used for paying certain benefits under
terminating single-employer plans covered by the pension insurance
system administered by PBGC.
DATES: Effective November 1, 2019.
FOR FURTHER INFORMATION CONTACT: Gregory Katz ([email protected]),
Attorney, Regulatory Affairs Division, Pension Benefit Guaranty
Corporation, 1200 K Street NW, Washington, DC 20005, 202-326-4400 ext.
3829. (TTY users may call the Federal relay service toll-free at 1-800-
877-8339 and ask to be connected to 202-326-4400, ext. 3829.)
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 terminated single-employer plans covered by title IV of
the Employee Retirement Income Security Act of 1974 (ERISA). The
interest assumptions in the regulation are also published on PBGC's
website (https://www.pbgc.gov).
PBGC uses the interest assumptions in appendix B to part 4022
(``Lump Sum Interest Rates for PBGC Payments'') to determine whether a
benefit is payable as a lump sum and to determine the amount to pay.
Because some private-sector pension plans use these interest rates to
determine lump sum amounts payable to plan participants (if the
resulting lump sum is larger than the amount required under section
417(e)(3) of the Internal Revenue Code and section 205(g)(3) of ERISA),
these rates are also provided in appendix C to part 4022 (``Lump Sum
Interest Rates for Private-Sector Payments'').
This final rule updates appendices B and C of the benefits payment
regulation to provide the rates for November 2019 measurement dates.
[[Page 55056]]
The November 2019 lump sum interest assumptions will be 0.25
percent for the period during which a benefit is (or is assumed to be)
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 October 2019, these assumptions represent an increase of
0.25 percent in the immediate rate and are otherwise unchanged.
PBGC updates appendices B and C each month. 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
issue new interest assumptions promptly so that they are available for
plans that rely on our publication of them each month to calculate lump
sum benefit amounts.
Because of the need to provide immediate guidance for the payment
of benefits under plans with valuation dates during November 2019, 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 313 is added at the end of the
table to read as follows:
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) i i i n n
--------------------------------------------------------------------------------------------------------------------------------------------------------
313 11-1-19 12-1-19 0.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
0
3. In appendix C to part 4022, rate set 313 is added at the end of the
table to read as follows:
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) i i i n n
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
313 11-1-19 12-1-19 0.25 4.00 4.00 4.00 7 8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC.
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit
Guaranty Corporation.
[FR Doc. 2019-22381 Filed 10-11-19; 8:45 am]
BILLING CODE 7709-02-P
