Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits, 18363-18364 [2024-05249]
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Federal Register / Vol. 89, No. 50 / Wednesday, March 13, 2024 / Rules and Regulations
the parenthetical authority citation at
the end of the section.
2(a), 92 Stat. 1660; and Sec. 701, Pub. L. 114–
74, 129 Stat. 599.
PART 141—BUSINESS PRACTICES ON
THE NAVAJO, HOPI AND ZUNI
RESERVATIONS
§ 226.42
12. In § 226.42, remove ‘‘$1,117’’ and
add in its place ‘‘$1,153’’.
PART 700—COMMISSION
OPERATIONS AND RELOCATION
PROCEDURES
3. The authority citation for part 141
continues to read as follows:
§ 226.43
■
■
§ 141.50
[Amended]
4. In § 141.50, remove ‘‘$1,566’’ and
add in its place ‘‘$1,617’’.
PART 211—LEASING OF TRIBAL
LANDS FOR MINERAL DEVELOPMENT
5. The authority citation for part 211
continues to read as follows:
■
Authority: Sec. 4, Act of May 11, 1938 (52
Stat. 347); Act of August 1, 1956 (70 Stat.
744); 25 U.S.C. 396a–g; 25 U.S.C. 2 and 9;
and Sec. 701, Pub. L. 114–74, 129 Stat. 599,
unless otherwise noted.
[Amended]
6. In § 211.55(a), remove ‘‘$1,882’’ and
add in its place ‘‘$1,943’’.
■
PART 213—LEASING OF RESTRICTED
LANDS FOR MEMBERS OF FIVE
CIVILIZED TRIBES, OKLAHOMA, FOR
MINING
7. The authority citation for part 213
continues to read as follows:
■
Authority: Sec. 2, 35 Stat. 312; sec. 18, 41
Stat. 426; sec. 1, 45 Stat. 495; sec. 1, 47 Stat.
777; 25 U.S.C. 356; and Sec. 701, Pub. L.
114–74, 129 Stat. 599. Interpret or apply secs.
3, 11, 35 Stat. 313, 316; sec. 8, 47 Stat. 779,
unless otherwise noted.
§ 213.37
[Amended]
13. In § 226.43:
a. Remove ‘‘$111’’ wherever it appears
and add ‘‘$115’’ in its place.
■ b. In paragraph (e), remove ‘‘$223’’
and add in its place ‘‘$230’’.
■ c. In paragraph (f), remove ‘‘$446’’ and
add in its place ‘‘$460’’.
■ d. In paragraph (g), remove ‘‘$1,117’’
and add in its place ‘‘$1,153’’.
■
§ 211.55
[Amended]
■
■
■
Authority: 5 U.S.C. 301; 25 U.S.C. 2 and
9; and Sec. 701, Pub. L. 114–74, 129 Stat.
599, unless otherwise noted.
[Amended]
PART 227—LEASING OF CERTAIN
LANDS IN WIND RIVER INDIAN
RESERVATION, WYOMING, FOR OIL
AND GAS MINING
14. The authority citation for part 227
continues to read as follows:
■
Authority: Sec. 1, 39 Stat. 519; and Sec.
701, Pub. L. 114–74, 129 Stat. 599, unless
otherwise noted.
§ 227.24
9. The authority citation for part 225
continues to read as follows:
■
Authority: Sec. 12, 50 Stat. 902; 25 U.S.C.
500K; and Sec. 701, Pub. L. 114–74, 129 Stat.
599.
§ 243.8
[Amended]
17. In § 243.8(a) introductory text,
remove ‘‘$7,383’’ and add in its place
‘‘$7,622’’.
■
18. The authority citation for part 249
continues to read as follows:
Authority: 25 U.S.C. 2, and 9; 5 U.S.C. 301;
and Sec. 701, Pub. L. 114–74, 129 Stat. 599,
unless otherwise noted.
[Amended]
19. In § 249.6(b), remove ‘‘$1,566’’ and
add in its place ‘‘$1,617’’.
Authority: Sec. 3, 34 Stat. 543; secs. 1, 2,
45 Stat. 1478; sec. 3, 52 Stat. 1034, 1035; sec.
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20. The authority citation for part 273
continues to read as follows:
■
11. The authority citation for part 226
continues to read as follows:
Bryan Newland,
Assistant Secretary—Indian Affairs.
[FR Doc. 2024–05275 Filed 3–12–24; 8:45 am]
BILLING CODE 4337–15–P
PENSION BENEFIT GUARANTY
CORPORATION
AGENCY:
PART 273—EDUCATION CONTRACTS
UNDER JOHNSON-O’MALLEY ACT
■
24. In § 700.725, remove ‘‘$1’’ and add
in its place ‘‘$1 and 3¢’’.
■ 25. In § 700.725, remove ‘‘25¢’’ and
add in its place ‘‘26¢’’.
■
16. The authority citation for part 243
continues to read as follows:
■
§ 225.37
PART 226—LEASING OF OSAGE
RESERVATION LANDS FOR OIL AND
GAS MINING
[Amended]
Allocation of Assets in SingleEmployer Plans; Interest Assumptions
for Valuing Benefits
■
[Amended]
§ 700.725
PART 243—REINDEER IN ALASKA
Authority: 25 U.S.C. 2, 9, and 2101–2108;
and Sec. 701, Pub. L. 114–74, 129 Stat. 599.
10. In § 225.37(a), remove ‘‘$1,992’’
and add in its place ‘‘$2,057’’.
Authority: Pub. L. 99–590; Pub. L. 93–531,
88 Stat. 1712 as amended by Pub. L. 96–305,
94 Stat. 929, Pub. L. 100–666, 102 Stat. 3929
(25 U.S.C. 640d).
29 CFR Part 4044
§ 249.6
■
23. The authority citation for part 700
continues to read as follows:
[Amended]
15. In § 227.24, remove ‘‘$1,566’’ and
add in its place ‘‘$1,617’’.
■
PART 225—OIL AND GAS,
GEOTHERMAL, AND SOLID MINERALS
AGREEMENTS
22. In § 273.182(b) remove ‘‘$10,000’’
and add in its place ‘‘$10,324’’.
■
■
PART 249—OFF-RESERVATION
TREATY FISHING
8. In § 213.37, remove ‘‘$1,566’’ and
add in its place ‘‘$1,617’’.
■
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18363
Authority: Secs. 201–203, Pub. L. 93–638,
88 Stat. 2203, 2213–2214 (25 U.S.C. 455–
457), unless otherwise noted.
§ 273.182
[Amended]
21. In § 273.182(a) remove ‘‘$1,000’’
and add in its place ‘‘$1,032’’.
■
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Pension Benefit Guaranty
Corporation.
ACTION: Final rule.
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 plans with
valuation dates in the second quarter of
2024. These interest assumptions are
used for valuing benefits under
terminating single-employer plans and
for other purposes.
DATES: Effective April 1, 2024.
FOR FURTHER INFORMATION CONTACT:
Monica O’Donnell (odonnell.monica@
pbgc.gov), Attorney, Office of the
General Counsel, Pension Benefit
Guaranty Corporation, 445 12th Street
SW, Washington, DC 20024–2101, 202–
229–8706. 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: PBGC’s
regulation on Allocation of Assets in
Single-Employer Plans (29 CFR part
4044) prescribes actuarial
assumptions—including interest
assumptions—for valuing benefits under
terminating single-employer plans
covered by title IV of the Employee
SUMMARY:
E:\FR\FM\13MRR1.SGM
13MRR1
18364
Federal Register / Vol. 89, No. 50 / Wednesday, March 13, 2024 / Rules and Regulations
Retirement Income Security Act of 1974
(ERISA). The interest assumptions in
the regulation are also published on
PBGC’s website (www.pbgc.gov).
PBGC uses the interest assumptions in
appendix B to part 4044 (‘‘Interest Rates
Used to Value Benefits’’) to determine
the present value of annuities in an
involuntary or distress termination of a
single-employer plan under the asset
allocation regulation. The assumptions
are also used to determine the value of
multiemployer plan benefits and certain
assets when a plan terminates by mass
withdrawal in accordance with PBGC’s
regulation on Duties of Plan Sponsor
Following Mass Withdrawal (29 CFR
part 4281).
The second quarter 2024 interest
assumptions will be 5.50 percent for the
first 20 years following the valuation
date and 4.83 percent thereafter. In
comparison with the interest
assumptions in effect for the first
quarter of 2024, these interest
assumptions represent no change in the
select period (the period during which
the select rate (the initial rate) applies),
For valuation dates occurring in the
month—
it
0.0550
[FR Doc. 2024–05249 Filed 3–12–24; 8:45 am]
BILLING CODE 7709–02–P
FEDERAL COMMUNICATIONS
COMMISSION
47 CFR Part 73
[MB Docket No. 23–406; RM–11969; DA 24–
199; FR ID 207515]
Television Broadcasting Services
Greenville, South Carolina
Federal Communications
Commission.
ACTION: Final rule.
AGENCY:
On November 27, 2023, the
Media Bureau, Video Division (Bureau)
issued a Notice of Proposed Rulemaking
(NPRM) in response to a petition for
rulemaking filed by Carolina Christian
Broadcasting, Inc. (Petitioner), the
licensee of WGGS–TV (Station or
WGGS), channel 2, Greenville, South
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15:51 Mar 12, 2024
Jkt 262001
for t =
*
Issued in Washington, DC, by
Hilary Duke,
Assistant General Counsel for Regulatory
Affairs, Pension Benefit Guaranty
Corporation.
VerDate Sep<11>2014
Need for Immediate Guidance
PBGC has determined that notice of,
and public comment on, this rule are
impracticable, unnecessary, and
contrary to the public interest. PBGC
routinely updates the interest
assumptions in appendix B of the asset
allocation regulation each quarter so
that they are available to value benefits.
Accordingly, PBGC finds that the public
interest is best served by issuing this
rule expeditiously, without an
opportunity for notice and comment,
and that good cause exists for making
the assumptions set forth in this
amendment effective less than 30 days
after publication to allow the use of the
proper assumptions to estimate the
value of plan benefits for plans with
valuation dates early in the second
quarter of 2024.
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
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.
2. In appendix B to part 4044, an entry
for ‘‘April–June 2024’’ is added at the
end of the table to read as follows:
■
Appendix B to Part 4044—Interest
Rates Used To Value Benefits
*
*
*
*
*
The values of it are:
*
*
April–June 2024 ........................................
SUMMARY:
an increase of 0.05 percent in the select
rate, and a decrease of 0.39 percent in
the ultimate rate (the final rate).
it
*
1–20
for t =
*
0.0483
Carolina (Greenville), requesting the
substitution of channel 29 for channel 2
at Greenville in the Table of TV
Allotments. For the reasons set forth in
the Report and Order referenced below,
the Bureau amends FCC regulations to
substitute channel 29 for channel 2 at
Greenville.
DATES: Effective April 12, 2024.
FOR FURTHER INFORMATION CONTACT:
Joyce Bernstein, Media Bureau, at (202)
418–1647 or Joyce.Bernstein@fcc.gov.
SUPPLEMENTARY INFORMATION: The
proposed rule was published at 88 FR
84771 on December 6, 2023. The
Petitioner filed comments in support of
the petition reaffirming its commitment
to apply for channel 29. No other
comments were filed.
The Bureau believes the public
interest would be served by substituting
channel 29 for channel 2 at Greenville.
Petitioner states that its proposed
channel substitution would serve the
public interest by resolving reception
challenges currently experienced by
viewers in the WGGS service area, and
substantially improving access to the
Station’s programming. The Petitioner
notes that the Commission has
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it
for t =
*
>20
*
N/A
N/A
recognized that VHF channels have
certain characteristics that pose
challenges for their use in providing
digital television service, including a
large variability in the performance of
indoor antennas available to viewers,
with most antennas performing very
poorly on VHF channels. The Petitioner
proposes to operate the Station on
channel 29 with a 3-node Distributed
Transmission System (DTS) facility, and
all viewers within the Station’s
community of license will continue to
be served by the Station. An analysis
using the Commission’s TVStudy
software indicates that the Station’s
move to channel 29 would result in a
loss of service to 946,964 persons,
mostly located around the edge of the
channel 2 noise limited service contour
(NLSC). All but 417 persons of those
persons, however, would remain wellserved by continuing to receive at least
five full power or Class A stations, and
those 417 persons would continue to
receive service from at least four such
stations, a number of persons that the
Commission has found to be de
minimis.
E:\FR\FM\13MRR1.SGM
13MRR1
]]>Agencies
[Federal Register Volume 89, Number 50 (Wednesday, March 13, 2024)]
[Rules and Regulations]
[Pages 18363-18364]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05249]
=======================================================================
-----------------------------------------------------------------------
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 plans with valuation dates in the second quarter of
2024. These interest assumptions are used for valuing benefits under
terminating single-employer plans and for other purposes.
DATES: Effective April 1, 2024.
FOR FURTHER INFORMATION CONTACT: Monica O'Donnell
([email protected]), Attorney, Office of the General Counsel,
Pension Benefit Guaranty Corporation, 445 12th Street SW, Washington,
DC 20024-2101, 202-229-8706. 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: PBGC's regulation on Allocation of Assets in
Single-Employer Plans (29 CFR part 4044) prescribes actuarial
assumptions--including interest assumptions--for valuing benefits under
terminating single-employer plans covered by title IV of the Employee
[[Page 18364]]
Retirement Income Security Act of 1974 (ERISA). The interest
assumptions in the regulation are also published on PBGC's website
(www.pbgc.gov).
PBGC uses the interest assumptions in appendix B to part 4044
(``Interest Rates Used to Value Benefits'') to determine the present
value of annuities in an involuntary or distress termination of a
single-employer plan under the asset allocation regulation. The
assumptions are also used to determine the value of multiemployer plan
benefits and certain assets when a plan terminates by mass withdrawal
in accordance with PBGC's regulation on Duties of Plan Sponsor
Following Mass Withdrawal (29 CFR part 4281).
The second quarter 2024 interest assumptions will be 5.50 percent
for the first 20 years following the valuation date and 4.83 percent
thereafter. In comparison with the interest assumptions in effect for
the first quarter of 2024, these interest assumptions represent no
change in the select period (the period during which the select rate
(the initial rate) applies), an increase of 0.05 percent in the select
rate, and a decrease of 0.39 percent in the ultimate rate (the final
rate).
Need for Immediate Guidance
PBGC has determined that notice of, and public comment on, this
rule are impracticable, unnecessary, and contrary to the public
interest. PBGC routinely updates the interest assumptions in appendix B
of the asset allocation regulation each quarter so that they are
available to value benefits. Accordingly, PBGC finds that the public
interest is best served by issuing this rule expeditiously, without an
opportunity for notice and comment, and that good cause exists for
making the assumptions set forth in this amendment effective less than
30 days after publication to allow the use of the proper assumptions to
estimate the value of plan benefits for plans with valuation dates
early in the second quarter of 2024.
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, an entry for ``April-June 2024'' is
added at the end of the table to read as follows:
Appendix B to Part 4044--Interest Rates Used To Value Benefits
* * * * *
--------------------------------------------------------------------------------------------------------------------------------------------------------
The values of i are:
For valuation dates occurring in the month-- -----------------------------------------------------------------------------------------------
i for t = i for t = i for t =
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
April-June 2024......................................... 0.0550 1-20 0.0483 >20 N/A N/A
--------------------------------------------------------------------------------------------------------------------------------------------------------
Issued in Washington, DC, by
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit
Guaranty Corporation.
[FR Doc. 2024-05249 Filed 3-12-24; 8:45 am]
BILLING CODE 7709-02-P
