Change in Rates and Classes of General Applicability for Competitive Products, 10390-10391 [2023-03421]

Download as PDF 10390 Federal Register / Vol. 88, No. 33 / Friday, February 17, 2023 / Notices lotter on DSK11XQN23PROD with NOTICES1 FOR FURTHER INFORMATION CONTACT: Melissa Rifkin (rifkin.melissa@pbgc.gov), Attorney, Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 445 12th Street SW, Washington, DC 20024–2101, 202– 229–6563. (If you are deaf or hard of hearing, or have a speech disability, please dial 7–1–1 to access telecommunications relay services.) SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation (PBGC) administers the pension plan termination insurance program under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). Section 4006(a)(7) of ERISA provides for a ‘‘termination premium’’ (in addition to the flat-rate and variable-rate premiums under sections 4006(a)(3)(A) and (E)) that is payable for 3 years following certain distress and involuntary plan terminations. PBGC’s regulations on Premium Rates (29 CFR part 4006) and Payment of Premiums (29 CFR part 4007) implement the termination premium. Sections 4007.3 and 4007.13(b) of the premium payment regulation require the filing of termination premium information and payments with PBGC. PBGC has issued Form T and its corresponding instructions for paying the termination premium. In this renewal, PBGC is updating the email address listed in the filing instructions for Form T and making a clarifying edit. In general, the termination premium applies where a single-employer plan terminates in a distress termination under section 4041(c) of ERISA (unless contributing sponsors and controlled group members meet the bankruptcy liquidation requirements of section 4041(c)(2)(B)(i)) or in an involuntary termination under section 4042 of ERISA, and the termination date under section 4048 of ERISA is after 2005. The termination premium is payable for 3 years. The same amount is payable each year. The termination premium is due on the 30th day of each of 3 consecutive 12-month periods. The first 12-month period generally begins shortly after the termination date or after the conclusion of bankruptcy proceedings in certain cases. The termination premium and related information must be filed by a person liable for the termination premium. The persons liable for the termination premium are contributing sponsors and members of their controlled groups, determined on the day before the plan termination date. Section 4007.10 of the premium payment regulation requires the retention of records supporting or VerDate Sep<11>2014 19:09 Feb 16, 2023 Jkt 259001 validating the computation of premiums paid and requires that the records be made available to PBGC. The existing collection of information was approved under OMB control number 1212–0064 (expires April 30, 2023). On December 12, 2022, PBGC published in the Federal Register (at 87 FR 76090) 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, during the next 3 years, it will receive an average of 1 filing of Form T per year. PBGC estimates that the total annual burden for the collection of information will be 5 minutes and $67. Issued in Washington, DC. Stephanie Cibinic, Deputy Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2023–03350 Filed 2–16–23; 8:45 am] BILLING CODE 7709–02–P POSTAL SERVICE Change in Rates and Classes of General Applicability for Competitive Products AGENCY: Postal ServiceTM. Notice of a change in rates and classifications of general applicability for competitive products. ACTION: This notice sets forth changes in rates and classifications of general applicability for competitive products, namely, First-Class Package Service. SUMMARY: DATES: Effective date: July 9, 2023. FOR FURTHER INFORMATION CONTACT: Elizabeth Reed, 202–268–3179. On February 9, 2023, pursuant to their authority under 39 U.S.C. 3632, the Governors of the Postal Service established prices and classification changes for competitive products. The Governors’ Decision and the record of proceedings in connection with such decision are reprinted below in accordance with section 3632(b)(2). Mail Classification Schedule language containing the new prices and SUPPLEMENTARY INFORMATION: PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 classification changes can be found at www.prc.gov. Sarah Sullivan, Attorney, Ethics & Legal Compliance. Decision of the Governors of the United States Postal Service on Changes in Rates and Classifications of General Applicability for Competitive Products (Governors’ Decision No. 23–1) February 9, 2023 Statement of Explanation and Justification Pursuant to authority under section 3632 of title 39, as amended by the Postal Accountability and Enhancement Act of 2006 (‘‘PAEA’’), we establish changes in rates and classifications of general applicability for First-Class Package Service, one of the Postal Service’s competitive products. The changes are described generally below, with a detailed description of the changes in the attachment. The attachment includes the draft Mail Classification Schedule sections with classification changes in legislative format. In Governors’ Decision 22–2, we established a variety of changes designed to simplify and streamline the Postal Service’s ground competitive package offerings under one product, First-Class Package Service. Subsequently, in Governors’ Decision 22–4, we delayed implementation of the changes and committed to implementing them this calendar year with a minimum of 30 days’ notice. The changes we establish today will implement the approved changes and rename the First-Class Package Service product as ‘‘USPS Ground Advantage.’’ The Retail and Commercial price categories will be maintained, and the Retail price category will retain its seal against inspection. USPS Ground Advantage will also include up to $100 of insurance as well as cubic pricing tiers up to one cubic foot (1 cu. ft.). Certain additional changes are being made today, to clarify that dimensional weighting applies up to Zone 9, and to clarify that the dimension noncompliance fee applies to this product. We are also removing Certificate of Mailing and Certified Mail as available extra services that can be utilized with USPS Ground Advantage. Rates are being established for USPS Ground Advantage, reflecting both ounce-based and pound-based rates, to take effect on July 9, 2023. These rates are designed to closely align with existing ground package rates established in January 2023. We understand that management may E:\FR\FM\17FEN1.SGM 17FEN1 Federal Register / Vol. 88, No. 33 / Friday, February 17, 2023 / Notices propose further updates to these proposed rates at our May meeting, which will be considered at that time. The Postal Service expects that its retail and commercial customers will all benefit from this consolidated ground package offering, which beginning on July 9, 2023, will be known as USPS Ground Advantage. Pearl’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘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. Order I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The changes in rates and classes set forth herein shall be effective at 12:01 a.m. on July 9, 2023. We direct the Secretary to have this decision published in the Federal Register in accordance with 39 U.S.C. 3632(b)(2) and direct management to file with the Postal Regulatory Commission appropriate notice of these changes. By The Governors: /s/ llllllllllllllllll Roman Martinez IV, Chairman, Board of Governors. The Exchange amend Exchange Rule 2618(a)(2) to offer two additional optional risk settings to Equity Members, called the Gross Notional Open and Trade Value and Net Notional Open and Trade Value. The text of the proposed rule change is available on the Exchange’s website at https://www.miaxoptions.com/rulefilings/pearl at MIAX Pearl’s principal office, 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 UNITED STATES POSTAL SERVICE OFFICE OF THE BOARD OF GOVERNORS CERTIFICATION OF GOVERNORS’ VOTE ON GOVERNORS’ DECISION NO. 23–1 In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for Consistent with 39 U.S.C. 3632(a), I hereby certify that, on February 9, 2023, the proposed rule change and discussed any comments it received on the the Governors voted on adopting proposed rule change. The text of these Governors’ Decision No. 23–1, and that a majority of the Governors then holding statements may be examined at the places specified in Item IV below. The office voted in favor of that Decision. Exchange has prepared summaries, set Date: February 9, 2023 forth in sections A, B, and C below, of /s/ the most significant aspects of such llllllllllllllllllll statements. Michael J. Elston Secretary of the Board of Governors. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2023–03421 Filed 2–16–23; 8:45 am] BILLING CODE 7710–12–P 1. Purpose SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96905; File No. SR– PEARL–2023–03] Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 2618 To Add Optional Risk Control Settings lotter on DSK11XQN23PROD with NOTICES1 February 13, 2023. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on February 3, 2023, MIAX PEARL, LLC (‘‘MIAX 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 17:13 Feb 16, 2023 Jkt 259001 The purpose of the proposed rule change is to provide Equity Members additional risk settings when trading equity securities on MIAX Pearl Equities. To help Equity Members manage their risk, the Exchange currently offers risk settings that authorize the Exchange to take automated action if a designated limit for an Equity Member is breached. Such risk settings provide Equity Members with enhanced abilities to manage their risk when trading on the Exchange. The Exchange now proposes to amend Exchange Rule 2618(a)(2) to offer two additional optional risk settings to Equity Members, called the Gross Notional Open and Trade Value and Net Notional Open and Trade Value. Each of these new risk settings seeks to combine PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 10391 certain existing risk settings into a single risk setting and are described below. Exchange Rule 2618(a)(2) sets forth the specific cumulative risk settings the Exchange offers and include Gross Notional Trade Value, Net Notional Trade Value, Gross Notional Open Value, and Net Notional Open Value.3 Gross Notional Trade Value is a preestablished maximum daily dollar amount for purchases and sales across all symbols, where both purchases and sales are counted as positive values. Net Notional Trade Value is a preestablished maximum daily dollar amount for purchases and sales across all symbols, where purchases are counted as positive values and sales are counted as negative values. For purposes of calculating the Gross Notional Trade Value and Net Notional Trade Value, only executed orders are included. The Gross Notional Open Value is a pre-established maximum daily dollar amount for open buy and sell orders across all symbols, where both open orders to buy and sell are counted as positive values. For purposes of calculating the Gross Notional Open Value, only unexecuted orders are included. The Net Notional Open Value is a pre-established maximum daily dollar amount for open buy and sell orders across all symbols, where open orders to buy are counted as positive values and open orders to sell are counted as negative values. For purposes of calculating the Net Notional Open Value, only unexecuted orders are included, just like the Gross Notional Open Value risk control. For both the Gross Notional Open Value and Net Notional Open Value risk settings, the open orders calculation only includes Limit Orders and Pegged Orders resting on the MIAX Pearl Equities Book and Limit Orders that have been routed to an away exchange for execution.4 Limit Orders and Pegged Orders are included at their limit price. Market Orders are not included.5 Each of the above risk settings is completely optional and is not applied where the 3 See Securities Exchange Act Release Nos. 89971 (September 23, 2020), 85 FR 61053 (September 29, 2022 [sic]) (SR–PEARL–2020–16); 90478 (November 23, 2022 [sic]), 85 FR 76630 (November 30, 2020) (SR–PEARL–2020–26); and 96205 (November 1, 2022), 87 FR 67080 (November 17 [sic], 2022) (SR– PEARL–2022–43). 4 Pegged Orders are not eligible for routing pursuant to Exchange Rule 2617(b). See Exchange Rule 2614(a)(3)(E). 5 See Securities Exchange Act Release No. 96205 (November 1, 2022), 87 FR 67080 (November 17 [sic], 2022) (SR–PEARL–2022–43). E:\FR\FM\17FEN1.SGM 17FEN1

Agencies

[Federal Register Volume 88, Number 33 (Friday, February 17, 2023)]
[Notices]
[Pages 10390-10391]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-03421]


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POSTAL SERVICE


Change in Rates and Classes of General Applicability for 
Competitive Products

AGENCY: Postal ServiceTM.

ACTION: Notice of a change in rates and classifications of general 
applicability for competitive products.

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

SUMMARY: This notice sets forth changes in rates and classifications of 
general applicability for competitive products, namely, First-Class 
Package Service.

DATES: Effective date: July 9, 2023.

FOR FURTHER INFORMATION CONTACT: Elizabeth Reed, 202-268-3179.

SUPPLEMENTARY INFORMATION: On February 9, 2023, pursuant to their 
authority under 39 U.S.C. 3632, the Governors of the Postal Service 
established prices and classification changes for competitive products. 
The Governors' Decision and the record of proceedings in connection 
with such decision are reprinted below in accordance with section 
3632(b)(2). Mail Classification Schedule language containing the new 
prices and classification changes can be found at www.prc.gov.

Sarah Sullivan,
Attorney, Ethics & Legal Compliance.

Decision of the Governors of the United States Postal Service on 
Changes in Rates and Classifications of General Applicability for 
Competitive Products (Governors' Decision No. 23-1)

    February 9, 2023

Statement of Explanation and Justification

    Pursuant to authority under section 3632 of title 39, as amended by 
the Postal Accountability and Enhancement Act of 2006 (``PAEA''), we 
establish changes in rates and classifications of general applicability 
for First-Class Package Service, one of the Postal Service's 
competitive products. The changes are described generally below, with a 
detailed description of the changes in the attachment. The attachment 
includes the draft Mail Classification Schedule sections with 
classification changes in legislative format.
    In Governors' Decision 22-2, we established a variety of changes 
designed to simplify and streamline the Postal Service's ground 
competitive package offerings under one product, First-Class Package 
Service. Subsequently, in Governors' Decision 22-4, we delayed 
implementation of the changes and committed to implementing them this 
calendar year with a minimum of 30 days' notice. The changes we 
establish today will implement the approved changes and rename the 
First-Class Package Service product as ``USPS Ground Advantage.'' The 
Retail and Commercial price categories will be maintained, and the 
Retail price category will retain its seal against inspection. USPS 
Ground Advantage will also include up to $100 of insurance as well as 
cubic pricing tiers up to one cubic foot (1 cu. ft.). Certain 
additional changes are being made today, to clarify that dimensional 
weighting applies up to Zone 9, and to clarify that the dimension 
noncompliance fee applies to this product. We are also removing 
Certificate of Mailing and Certified Mail as available extra services 
that can be utilized with USPS Ground Advantage.
    Rates are being established for USPS Ground Advantage, reflecting 
both ounce-based and pound-based rates, to take effect on July 9, 2023. 
These rates are designed to closely align with existing ground package 
rates established in January 2023. We understand that management may

[[Page 10391]]

propose further updates to these proposed rates at our May meeting, 
which will be considered at that time. The Postal Service expects that 
its retail and commercial customers will all benefit from this 
consolidated ground package offering, which beginning on July 9, 2023, 
will be known as USPS Ground Advantage.

Order

    The changes in rates and classes set forth herein shall be 
effective at 12:01 a.m. on July 9, 2023. We direct the Secretary to 
have this decision published in the Federal Register in accordance with 
39 U.S.C. 3632(b)(2) and direct management to file with the Postal 
Regulatory Commission appropriate notice of these changes.
    By The Governors:
/s/
-----------------------------------------------------------------------
Roman Martinez IV,
Chairman, Board of Governors.

UNITED STATES POSTAL SERVICE OFFICE OF THE BOARD OF GOVERNORS

CERTIFICATION OF GOVERNORS' VOTE ON GOVERNORS' DECISION NO. 23-1

    Consistent with 39 U.S.C. 3632(a), I hereby certify that, on 
February 9, 2023, the Governors voted on adopting Governors' Decision 
No. 23-1, and that a majority of the Governors then holding office 
voted in favor of that Decision.

    Date: February 9, 2023
/s/
-----------------------------------------------------------------------
Michael J. Elston
Secretary of the Board of Governors.

[FR Doc. 2023-03421 Filed 2-16-23; 8:45 am]
BILLING CODE 7710-12-P
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