Submission of Information Collection for OMB Review; Comment Request; Survey of Nonparticipating Single Premium Group Annuity Rates, 31539-31540 [2021-12362]

Download as PDF Federal Register / Vol. 86, No. 112 / Monday, June 14, 2021 / Notices CONTACT PERSON FOR MORE INFORMATION: Point of contact for this meeting is: Chris Blair, cblair@nsf.gov, 703/292– 7000. Meeting information and updates may be found at https://www.nsf.gov/ nsb/meetings/notices.jsp#sunshine. Please refer to the National Science Board website www.nsf.gov/nsb for general information. Chris Blair, Executive Assistant to the National Science Board Office. [FR Doc. 2021–12529 Filed 6–11–21; 4:15 pm] BILLING CODE 7555–01–P NUCLEAR REGULATORY COMMISSION American Centrifuge Operating, LLC; American Centrifuge Plant Nuclear Regulatory Commission. ACTION: Environmental assessment and finding of no significant impact; issuance. AGENCY: The U.S. Nuclear Regulatory Commission (NRC) is considering the amendment submitted by the American Centrifuge Operating, LLC (ACO) of Special Nuclear Materials (SNM) License SNM–2011 for the American Centrifuge Plant (ACP), a proposed commercial uranium enrichment facilty to be located in Piketon, Ohio. The NRC has prepared an environmental assessment (EA) for this proposed license amendment in accordance with its regulations. Based on the EA, the NRC has concluded that a finding of no significant impact (FONSI) is appropriate. The NRC is also conducting a safety evaluation of the proposed license amendment. DATES: The EA and FONSI referenced in this document are available on June 14, 2021. ADDRESSES: Please refer to Docket ID NRC–2021–0058 when contacting the NRC about the availability of information regarding this document. You may obtain publicly available information related to this document using any of the following methods: • Federal Rulemaking Website: Go to https://www.regulations.gov and search for Docket ID NRC–2021–0058. Address questions about Docket IDs in Regulations.gov to Stacy Schumann; telephone: 301–415–0624; email: Stacy.Schumann@nrc.gov. For technical questions, contact the individual listed in the FOR FURTHER INFORMATION CONTACT section of this document. lotter on DSK11XQN23PROD with NOTICES1 SUMMARY: 17:26 Jun 11, 2021 Jean Trefethen, Office of Nuclear Material Safety and Safeguards, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001; telephone: 301–415– 0867; email: Jean.Trefethen@nrc.gov. FOR FURTHER INFORMATION CONTACT: [Docket No. 70–7003; NRC–2021–0058] VerDate Sep<11>2014 • NRC’s Agencywide Documents Access and Management System (ADAMS): You may obtain publicly available documents online in the ADAMS Public Documents collection at https://www.nrc.gov/reading-rm/ adams.html. To begin the search, select ‘‘Begin Web-based ADAMS Search.’’ For problems with ADAMS, please contact the NRC’s Public Document Room (PDR) reference staff at 1–800–397–4209, 301– 415–4737, or by email to pdr.resource@ nrc.gov. The ADAMS accession number for each document referenced in this document (if that document is available in ADAMS) is provided the first time that a document is referenced. Jkt 253001 SUPPLEMENTARY INFORMATION: I. Introduction Frm 00063 Fmt 4703 II. Final Environmental Assessment Summary ACO is requesting an amendment to license SNM–2011 to authorize the enrichment of uranium-235 to the level necessary to produce HALEU in a demonstration cascade pursuant to a contract with DOE. The NRC has assessed the potential environmental impacts of the proposed action and the no-action alternative. The results of the NRC’s environmental review can be found in the final EA (ADAMS Accession No. ML21085A705). The NRC staff performed its environmental review in accordance with the requirements in 10 CFR part 51. In conducting the environmental review, the NRC considered information in the LAR; communications with the Ohio State Historic Preservation Office; as well as information provided by the Ohio Ecological Services Field Office of Fish and Wildlife, the Ohio Department of Health, and the Environmental Protection Agency Region V. III. Finding of No Significant Impact The NRC is considering a license amendment request (LAR) for license SNM–2011 for the ACP located on the U.S. Department of Energy (DOE) reservation in Piketon, Ohio (ADAMS Accession Nos. ML20139A097 and ML20139A098). The licensee, ACO, is requesting authorization to enrich uranium-235 up to the level necessary to produce High-Assay Low-Enriched Uranium (HALEU) pursuant to a contract with DOE. Under the 3-year term of the DOE contract, ACO would operate a cascade consisting of 16 centrifuges for the purpose of demonstrating the commercial viability of HALEU production for potential future use in advanced reactors. The NRC staff has prepared a final EA as part of its review of this LAR request in accordance with the requirements of Part 51 of title 10 of the Code of Federal Regulations (10 CFR), ‘‘Environmental Protection Regulations for Domestic Licensing and Related Regulatory Functions.’’ Based on the final EA, the NRC has determined that an environmental impact statement (EIS) is not required for this proposed action and a FONSI is appropriate. The NRC is also conducting a safety evaluation of the proposed license amendment pursuant to 10 CFR part 70, and the results will be documented in a separate Safety Evaluation Report (SER). If ACO’s request is approved, the NRC will issue the license amendment following publication of this final EA and FONSI and the SER in the Federal Register. PO 00000 31539 Sfmt 4703 Based on its review of the proposed action in the EA, in accordance with the requirements in 10 CFR part 51, the NRC has concluded that the proposed action, amendment of NRC license SNM–2011 for the American Centrifuge Co., LLC, located in Piketon, Ohio, will not significantly affect the quality of the human environment. Therefore, the NRC has determined, pursuant to 10 CFR 51.31, that preparation of an EIS is not required for the proposed action and a FONSI is appropriate. Dated: June 8, 2021. For the Nuclear Regulatory Commission. Stacey F. Imboden, Acting Chief, Environmental Review Materials Branch, Division of Rulemaking, Environment, and Financial Support, Office of Nuclear Material Safety and Safeguards. [FR Doc. 2021–12356 Filed 6–11–21; 8:45 am] BILLING CODE 7590–01–P PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collection for OMB Review; Comment Request; Survey of Nonparticipating Single Premium Group Annuity Rates Pension Benefit Guaranty Corporation. ACTION: Notice of request for extension of OMB approval, with modifications. AGENCY: The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget SUMMARY: E:\FR\FM\14JNN1.SGM 14JNN1 lotter on DSK11XQN23PROD with NOTICES1 31540 Federal Register / Vol. 86, No. 112 / Monday, June 14, 2021 / Notices (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information with modifications. The purpose of this information collection is to survey insurance companies that provide group annuities for premium rates and related information to calibrate actuarial interest rate assumptions. The American Council of Life Insurers conducts this voluntary survey for PBGC. This notice informs the public of PBGC’s request and solicits public comment on the collection. DATES: Comments must be submitted by July 14, 2021. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. A copy of the request will be posted on PBGC’s website at https:// www.pbgc.gov/prac/laws-andregulation/federal-register-notices-openfor-comment. It may also be obtained without charge by writing to the Disclosure Division of the Office of the General Counsel of PBGC, 1200 K Street NW, Washington, DC 20005–4026; faxing a request to 202–326–4042; 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). The Disclosure Division will email, fax, or mail the information to you, as you request. FOR FURTHER INFORMATION CONTACT: Hilary Duke (duke.hilary@pbgc.gov), Assistant General Counsel for Regulatory Affairs, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026, 202–229– 3839; or Gregory Katz (katz.gregory@ pbgc.gov), Attorney, Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026, 202–229–3829. TTY users may call the Federal Relay Service tollfree at 800–877–8339 and ask to be connected to 202–229–3839 or 202– 229–3829. SUPPLEMENTARY INFORMATION: PBGC’s regulations prescribe actuarial valuation methods and assumptions (including interest rate assumptions) to be used to determine the actuarial present value of benefits under single-employer plans in involuntary or distress terminations (29 CFR part 4044) and the value of benefits VerDate Sep<11>2014 17:26 Jun 11, 2021 Jkt 253001 and certain assets under multiemployer plans that undergo a mass withdrawal of contributing employers (29 CFR part 4281). In each month immediately preceding the start of a new calendar quarter, PBGC publishes the interest rates to be used under those regulations for plans terminating or undergoing mass withdrawal during the next quarter. The interest rates are intended to reflect current conditions in the annuity markets. To determine these interest rates, PBGC gathers premium rate data from insurance companies that are providing group annuity contracts to terminating pension plans through a quarterly survey. The American Council of Life Insurers (ACLI) distributes the survey and provides PBGC with ‘‘blind’’ data (i.e., PBGC is unable to match responses with the insurance companies that submitted them). PBGC also uses the information from the survey in determining the interest rates it uses to value benefits payable to participants and beneficiaries in PBGC-trusteed plans for purposes of PBGC’s financial statements. PBGC is proposing several changes to the survey distributed by ACLI: • Addition of a question asking for specific information about the interest assumptions underlying the annuity premium rates reported in parts I and II of the survey. This information is needed to allow PBGC to better analyze annuity price data provided in the survey. • Increases to the dollar ranges in the questions on respondents’ group annuity business in part III to allow the survey to continue to capture the variability and range of business accepted by respondents as the prices of plan termination annuity contracts increase with inflation. • Changes to the instructions to clarify that respondents should provide pricing information only for full plan terminations (and transactions priced consistently with full plan terminations), that the annuity premium rates provided should include reductions for investment expenses but exclude administrative expenses, and that respondents should assume that plan provisions are straightforward and do not contain significant levels of antiselection, expensive options, or subsidies. • Addition of a confirmation that administrative expenses are excluded from pricing information and an option to comment on any exceptions. This is needed for PBGC to compare pricing information amongst survey responses when respondents are unable to PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 completely exclude administrative expenses from pricing information. • Consolidation and simplification of former parts III and IV into a new part III and elimination of questions asking for information PBGC no longer uses. These changes streamline and simplify the response process. • Modification of a question asking for the volume of respondents’ plan termination annuity business so that it requests annual data instead of quarterly data to reduce volatility in survey responses. • Addition of a question soliciting feedback on how PBGC could improve the survey process. • Addition of flexibility to conduct the survey electronically. This voluntary survey is directed at insurance companies most, if not all, of which are members of ACLI. The survey is conducted quarterly and approximately 20 insurance companies will be asked to participate. The existing collection of information was approved under OMB control number 1212–0030 (expires August 31, 2021). On April 1, 2021, PBGC published in the Federal Register (at 86 FR 17217) a notice informing the public of its intent to request an extension of this collection of information, as modified. No comments were received. PBGC is requesting that OMB extend approval of the collection (with modifications) 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. PBGC estimates that about 6 insurance companies will respond to the survey each quarter, and that each survey will require approximately 30 minutes to complete and return. The total burden is estimated to be 12 hours (30 minutes per survey × 4 surveys per year × 6 respondents per quarter). Issued in Washington, DC. Hilary Duke, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2021–12362 Filed 6–11–21; 8:45 am] BILLING CODE 7709–02–P PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collections for OMB Review; Comment Request; Reportable Events; Notice of Failure To Make Required Contributions Pension Benefit Guaranty Corporation. AGENCY: E:\FR\FM\14JNN1.SGM 14JNN1

Agencies

[Federal Register Volume 86, Number 112 (Monday, June 14, 2021)]
[Notices]
[Pages 31539-31540]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-12362]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Survey of Nonparticipating Single Premium Group Annuity Rates

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval, with 
modifications.

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

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting 
that the Office of Management and Budget

[[Page 31540]]

(OMB) extend approval, under the Paperwork Reduction Act, of a 
collection of information with modifications. The purpose of this 
information collection is to survey insurance companies that provide 
group annuities for premium rates and related information to calibrate 
actuarial interest rate assumptions. The American Council of Life 
Insurers conducts this voluntary survey for PBGC. This notice informs 
the public of PBGC's request and solicits public comment on the 
collection.

DATES: Comments must be submitted by July 14, 2021.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    A copy of the request will be posted on PBGC's website at https://www.pbgc.gov/prac/laws-and-regulation/federal-register-notices-open-for-comment. It may also be obtained without charge by writing to the 
Disclosure Division of the Office of the General Counsel of PBGC, 1200 
K Street NW, Washington, DC 20005-4026; faxing a request to 202-326-
4042; 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). The Disclosure Division will email, fax, 
or mail the information to you, as you request.

FOR FURTHER INFORMATION CONTACT: Hilary Duke ([email protected]), 
Assistant General Counsel for Regulatory Affairs, Office of the General 
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, 
Washington, DC 20005-4026, 202-229-3839; or Gregory Katz 
([email protected]), Attorney, Regulatory Affairs Division, Office 
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street NW, Washington, DC 20005-4026, 202-229-3829. TTY users may call 
the Federal Relay Service toll-free at 800-877-8339 and ask to be 
connected to 202-229-3839 or 202-229-3829.

SUPPLEMENTARY INFORMATION: PBGC's regulations prescribe actuarial 
valuation methods and assumptions (including interest rate assumptions) 
to be used to determine the actuarial present value of benefits under 
single-employer plans in involuntary or distress terminations (29 CFR 
part 4044) and the value of benefits and certain assets under 
multiemployer plans that undergo a mass withdrawal of contributing 
employers (29 CFR part 4281). In each month immediately preceding the 
start of a new calendar quarter, PBGC publishes the interest rates to 
be used under those regulations for plans terminating or undergoing 
mass withdrawal during the next quarter.
    The interest rates are intended to reflect current conditions in 
the annuity markets. To determine these interest rates, PBGC gathers 
premium rate data from insurance companies that are providing group 
annuity contracts to terminating pension plans through a quarterly 
survey. The American Council of Life Insurers (ACLI) distributes the 
survey and provides PBGC with ``blind'' data (i.e., PBGC is unable to 
match responses with the insurance companies that submitted them). PBGC 
also uses the information from the survey in determining the interest 
rates it uses to value benefits payable to participants and 
beneficiaries in PBGC-trusteed plans for purposes of PBGC's financial 
statements.
    PBGC is proposing several changes to the survey distributed by 
ACLI:
     Addition of a question asking for specific information 
about the interest assumptions underlying the annuity premium rates 
reported in parts I and II of the survey. This information is needed to 
allow PBGC to better analyze annuity price data provided in the survey.
     Increases to the dollar ranges in the questions on 
respondents' group annuity business in part III to allow the survey to 
continue to capture the variability and range of business accepted by 
respondents as the prices of plan termination annuity contracts 
increase with inflation.
     Changes to the instructions to clarify that respondents 
should provide pricing information only for full plan terminations (and 
transactions priced consistently with full plan terminations), that the 
annuity premium rates provided should include reductions for investment 
expenses but exclude administrative expenses, and that respondents 
should assume that plan provisions are straightforward and do not 
contain significant levels of anti-selection, expensive options, or 
subsidies.
     Addition of a confirmation that administrative expenses 
are excluded from pricing information and an option to comment on any 
exceptions. This is needed for PBGC to compare pricing information 
amongst survey responses when respondents are unable to completely 
exclude administrative expenses from pricing information.
     Consolidation and simplification of former parts III and 
IV into a new part III and elimination of questions asking for 
information PBGC no longer uses. These changes streamline and simplify 
the response process.
     Modification of a question asking for the volume of 
respondents' plan termination annuity business so that it requests 
annual data instead of quarterly data to reduce volatility in survey 
responses.
     Addition of a question soliciting feedback on how PBGC 
could improve the survey process.
     Addition of flexibility to conduct the survey 
electronically.
    This voluntary survey is directed at insurance companies most, if 
not all, of which are members of ACLI. The survey is conducted 
quarterly and approximately 20 insurance companies will be asked to 
participate.
    The existing collection of information was approved under OMB 
control number 1212-0030 (expires August 31, 2021). On April 1, 2021, 
PBGC published in the Federal Register (at 86 FR 17217) a notice 
informing the public of its intent to request an extension of this 
collection of information, as modified. No comments were received. PBGC 
is requesting that OMB extend approval of the collection (with 
modifications) 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.
    PBGC estimates that about 6 insurance companies will respond to the 
survey each quarter, and that each survey will require approximately 30 
minutes to complete and return. The total burden is estimated to be 12 
hours (30 minutes per survey x 4 surveys per year x 6 respondents per 
quarter).

    Issued in Washington, DC.
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2021-12362 Filed 6-11-21; 8:45 am]
BILLING CODE 7709-02-P
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