63414 Federal Register / Vol. 81, No. 179 / Thursday, September 15, 2016 / Rules and Regulations 

petition for review of an ALJ’s decision 

at any time before that decision becomes 

final by filing a written withdrawal with 

the ARB. The ALJ or the ARB, as the 

case may be, will determine whether to 

approve the withdrawal of the 

objections or the petition for review. If 

the ALJ approves a request to withdraw 

objections to the Assistant Secretary’s 

findings and/or order, and there are no 

other pending objections, the Assistant 

Secretary’s findings and/or order will 

become the final order of the Secretary. 

If the ARB approves a request to 

withdraw a petition for review of an ALJ 

decision, and there are no other pending 

petitions for review of that decision, the 

ALJ’s decision will become the final 

order of the Secretary. If objections or a 

petition for review are withdrawn 

because of settlement, the settlement 

must be submitted for approval in 

accordance with paragraph (d) of this 

section. 

(d)(1) Investigative settlements. At any 

time after the filing of a SPA complaint 

and before the findings and/or order are 

objected to or become a final order by 

operation of law, the case may be settled 

if the Assistant Secretary, the 

complainant, and the respondent agree 

to a settlement. The Assistant 

Secretary’s approval of a settlement 

reached by the respondent and the 

complainant demonstrates the Assistant 

Secretary’s consent and achieves the 

consent of all three parties. 

(2) Adjudicatory settlements. At any 

time after the filing of objections to the 

Assistant Secretary’s findings and/or 

order, the case may be settled if the 

participating parties agree to a 

settlement and the settlement is 

approved by the ALJ if the case is before 

the ALJ or by the ARB, if the ARB has 

accepted the case for review. A copy of 

the settlement will be filed with the ALJ 

or the ARB as the case may be. 

(e) Any settlement approved by the 

Assistant Secretary, the ALJ, or the ARB 

will constitute the final order of the 

Secretary and may be enforced in a 

United States district court pursuant to 

49 U.S.C. 31105(e), as incorporated by 

46 U.S.C. 2114(b). 

§ 1986.112 Judicial review. 

(a) Within 60 days after the issuance 

of a final order under §§ 1986.109 and 

1986.110, any person adversely affected 

or aggrieved by the order may file a 

petition for review of the order in the 

court of appeals of the United States for 

the circuit in which the violation 

allegedly occurred or the circuit in 

which the complainant resided on the 

date of the violation. 

(b) A final order is not subject to 

judicial review in any criminal or other 

civil proceeding. 

(c) If a timely petition for review is 

filed, the record of a case, including the 

record of proceedings before the ALJ, 

will be transmitted by the ARB, or the 

ALJ, as the case may be, to the 

appropriate court pursuant to the 

Federal Rules of Appellate Procedure 

and the local rules of such court. 

§ 1986.113 Judicial enforcement. 

Whenever any person has failed to 

comply with a preliminary order of 

reinstatement or a final order, including 

one approving a settlement agreement 

issued under SPA, the Secretary may 

file a civil action seeking enforcement of 

the order in the United States district 

court for the district in which the 

violation was found to have occurred. 

§ 1986.114 District court jurisdiction of 

retaliation complaints under SPA. 

(a) If there is no final order of the 

Secretary, 210 days have passed since 

the filing of the complaint, and there is 

no showing that there has been delay 

due to the bad faith of the complainant, 

the complainant may bring an action at 

law or equity for de novo review in the 

appropriate district court of the United 

States, which will have jurisdiction over 

such an action without regard to the 

amount in controversy. The action shall, 

at the request of either party to such 

action, be tried by the court with a jury. 

(b) Within seven days after filing a 

complaint in federal court, a 

complainant must file with the 

Assistant Secretary, the ALJ, or the ARB, 

depending on where the proceeding is 

pending, a copy of the file-stamped 

complaint. A copy of the complaint also 

must be served on the OSHA official 

who issued the findings and/or 

preliminary order, the Assistant 

Secretary, and the Associate Solicitor, 

Division of Occupational Safety and 

Health, U.S. Department of Labor. 

§ 1986.115 Special circumstances; waiver 

of rules. 

In special circumstances not 

contemplated by the provisions of the 

rules in this part, or for good cause 

shown, the ALJ or the ARB on review 

may, upon application, after three days 

notice to all parties, waive any rule or 

issue such orders as justice or the 

administration of SPA requires. 

[FR Doc. 2016–21758 Filed 9–14–16; 8:45 am] 

BILLING CODE 4510–26–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Parts 4022 and 4044 

Allocation of Assets in SingleEmployer Plans; Benefits Payable in 

Terminated Single-Employer Plans; 

Interest Assumptions for Valuing and 

Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulations on Benefits Payable in 

Terminated Single-Employer Plans and 

Allocation of Assets in Single-Employer 

Plans to prescribe interest assumptions 

under the benefit payments regulation 

for valuation dates in October 2016 and 

interest assumptions under the asset 

allocation regulation for valuation dates 

in the fourth quarter of 2016. The 

interest assumptions are used for 

valuing and paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. 

DATES: Effective October 1, 2016. 

FOR FURTHER INFORMATION CONTACT: 

Deborah C. Murphy (Murphy.Deborah@

PBGC.gov), Assistant General Counsel 

for Regulatory Affairs, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW., Washington, DC 20005, 202–326– 

4400 ext. 3451. (TTY/TDD users may 

call the Federal relay service toll free at 

1–800–877–8339 and ask to be 

connected to 202–326–4400 ext. 3451.) 

SUPPLEMENTARY INFORMATION: PBGC’s 

regulations on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044) and Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR part 4022) prescribe actuarial 

assumptions—including interest 

assumptions—for valuing and paying 

plan benefits under terminating singleemployer plans covered by title IV of 

the Employee Retirement Income 

Security Act of 1974. The interest 

assumptions in the regulations are also 

published on PBGC’s Web site (http://

www.pbgc.gov). 

The interest assumptions in Appendix 

B to Part 4044 are used to value benefits 

for allocation purposes under ERISA 

section 4044. PBGC uses the interest 

assumptions in Appendix B to Part 4022 

to determine whether a benefit is 

payable as a lump sum and to determine 

the amount to pay. Appendix C to Part 

4022 contains interest assumptions for 

private-sector pension practitioners to 

refer to if they wish to use lump-sum 

interest rates determined using PBGC’s 


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Federal Register / Vol. 81, No. 179 / Thursday, September 15, 2016 / Rules and Regulations 63415 

historical methodology. Currently, the 

rates in Appendices B and C of the 

benefit payment regulation are the same. 

The interest assumptions are intended 

to reflect current conditions in the 

financial and annuity markets. 

Assumptions under the asset allocation 

regulation are updated quarterly; 

assumptions under the benefit payments 

regulation are updated monthly. This 

final rule updates the benefit payments 

interest assumptions for October 2016 

and updates the asset allocation interest 

assumptions for the fourth quarter 

(October through December) of 2016. 

The fourth quarter 2016 interest 

assumptions under the allocation 

regulation will be 1.98 percent for the 

first 20 years following the valuation 

date and 2.67 percent thereafter. In 

comparison with the interest 

assumptions in effect for the third 

quarter of 2016, these interest 

assumptions represent no change in the 

select period (the period during which 

the select rate (the initial rate) applies), 

a decrease of 0.52 percent in the select 

rate, and a decrease of 0.18 percent in 

the ultimate rate (the final rate). 

The October 2016 interest 

assumptions under the benefit payments 

regulation will be 0.50 percent for the 

period during which a benefit is 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 September 

2016, these interest assumptions are 

unchanged. 

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 determine and issue new 

interest assumptions promptly so that 

the assumptions can reflect current 

market conditions as accurately as 

possible. 

Because of the need to provide 

immediate guidance for the valuation 

and payment of benefits under plans 

with valuation dates during October 

2016, 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 

29 CFR Part 4022 

Employee benefit plans, Pension 

insurance, Pensions, Reporting and 

recordkeeping requirements. 

29 CFR Part 4044 

Employee benefit plans, Pension 

insurance, Pensions. 

In consideration of the foregoing, 29 

CFR parts 4022 and 4044 are amended 

as follows: 

PART 4022—BENEFITS PAYABLE IN 

TERMINATED SINGLE-EMPLOYER 

PLANS 

■ 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. 

■ 2. In appendix B to part 4022, Rate Set 

276, as set forth below, is added to the 

table. 

Appendix B to Part 4022—Lump Sum 

Interest Rates for PBGC Payments 

* * * * * 

Rate set 

For plans with a valuation 

date Immediate 

annuity rate 

(percent) 

Deferred annuities 

(percent) 

On or after Before i1 i2 i3 n1 n2

*******

276 10–1–16 11–1–16 0.50 4.00 4.00 4.00 7 8 

■ 3. In appendix C to part 4022, Rate Set 

276, as set forth below, is added to the 

table. 

Appendix C to Part 4022—Lump Sum 

Interest Rates for Private-Sector 

Payments 

* * * * * 

Rate set 

For plans with a valuation 

date Immediate 

annuity rate 

(percent) 

Deferred annuities 

(percent) 

On or after Before i1 i2 i3 n1 n2

*******

276 10–1–16 11–1–16 0.50 4.00 4.00 4.00 7 8 

PART 4044—ALLOCATION OF 

ASSETS IN SINGLE-EMPLOYER 

PLANS 

■ 4. The authority citation for part 4044 

continues to read as follows: 

Authority: 29 U.S.C. 1301(a), 1302(b)(3), 

1341, 1344, 1362. 

■ 5. In appendix B to part 4044, a new 

entry for October–December 2016, as set 

forth below, is added to the table. 

Appendix B to Part 4044—Interest 

Rates Used to Value Benefits 

* * * * * 


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63416 Federal Register / Vol. 81, No. 179 / Thursday, September 15, 2016 / Rules and Regulations 

For valuation dates occurring in the month— 

The values of it are: 

it for t = it for t = it for t = 

*******

October–December 2016 ................................................. 0.0198 1–20 0.0267 >20 N/A N/A 

Issued in Washington, DC, by 

Judith Starr, 

General Counsel, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2016–22172 Filed 9–14–16; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket Number USCG–2016–0757] 

RIN 1625–AA08 

Special Local Regulation; Atchafalaya 

River, Morgan City, LA 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a special local regulation 

for all navigable waters, near mile 

marker 4.5 of the Morgan City Port 

Allen route to extend north and south 

1000 feet of Russo’s boat launch on the 

Atchafalaya River. The special local 

regulation is necessary to protect 

participants and spectators from the 

hazards associated with the Battle of the 

Basin power boat race. Entry of vessels 

or persons into this zone is prohibited 

unless specifically authorized by the 

Captain of the Port Morgan City or a 

designated representative. 

DATES: This rule is effective from 10 

a.m. on September 24, 2016 through 7 

p.m. September 25, 2016. 

ADDRESSES: To view documents 

mentioned in this preamble as being 

available in the docket, go to http://

www.regulations.gov, type USCG–2016– 

0757 in the ‘‘SEARCH’’ box and click 

‘‘SEARCH.’’ Click on Open Docket 

Folder on the line associated with this 

rule. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this rule, contact 

LTJG Vanessa Taylor, Marine Safety 

Unit Morgan City, U.S. Coast Guard; 

telephone 985–380–5334, email 

Vanessa.R.Taylor@uscg.mil. 

SUPPLEMENTARY INFORMATION: 

I. Table of Abbreviations 

CFR Code of Federal Regulations 

DHS Department of Homeland Security 

FR Federal Register 

NPRM Notice of proposed rulemaking 

§ Section 

U.S.C. United States Code 

MM Mile Marker 

II. Background Information and 

Regulatory History 

The Coast Guard is issuing this 

temporary rule without prior notice and 

opportunity to comment pursuant to 

authority under section 4(a) of the 

Administrative Procedure Act (APA) (5 

U.S.C. 553(b)). This provision 

authorizes an agency to issue a rule 

without prior notice and opportunity to 

comment when the agency for good 

cause finds that those procedures are 

‘‘impracticable, unnecessary, or contrary 

to the public interest.’’ Under 5 U.S.C. 

553(b)(B), the Coast Guard finds that 

good cause exists for not publishing a 

notice of proposed rulemaking (NPRM) 

with respect to this rule because the 

Coast Guard did not receive notice of 

the request until July 25, 2016. 

Completing the NPRM process would 

delay the immediate action needed to 

protect spectators and vessels from 

hazards associated with the boat races. 

It is impracticable to publish an NPRM 

because we must establish this special 

local regulation by September 24, 2016. 

We are issuing this rule, and under 5 

U.S.C. 553(d)(3), the Coast Guard finds 

that good cause exists for making it 

effective less than 30 days after 

publication in the Federal Register. 

Providing 30 days notice for this 

occurrence would unnecessarily delay 

the effective date and would be 

impracticable based on the limited time 

frame, as well as be contrary to public 

interest because immediate action is 

needed to protect spectators from the 

potential safety hazards associated with 

the high speed boat races. 

III. Legal Authority and Need for Rule 

The Coast Guard is issuing this rule 

under authority in 33 U.S.C. 1233. The 

Captain of the Port Morgan City (COTP) 

has determined that potential hazards 

associated with the combination of 

recreational and commercial vessels and 

a high speed boat racing event starting 

at 10 a.m. and lasting until 7 p.m. on 

September 24, 2016 and September 25, 

2016 is a safety concern for anyone 

within this area. This rule is needed to 

help ensure the safety of persons and 

recreational boats during the event on 

the navigable waters within the special 

local regulation. 

IV. Discussion of the Rule 

This rule establishes a special local 

regulation that will be enforced from 10 

a.m. until 7 p.m. on September 24, 2016 

and September 25, 2016. The special 

local regulation will cover all navigable 

waters near mile marker 4.5 on the 

Morgan City Port Allen alternate route 

extending 1000 feet north and south 

from Russo’s boat launch in Morgan 

City. The duration of the zone is 

intended to protect spectators, vessels, 

and the marine environment in these 

navigable waters while the speed races 

occur. No vessel or person will be 

permitted to enter the special local 

regulation without obtaining permission 

from the COTP or a designated 

representative. 

V. Regulatory Analyses 

We developed this rule after 

considering numerous statutes and 

Executive orders related to rulemaking. 

Below we summarize our analyses 

based on a number of these statutes and 

Executive Orders, and we discuss First 

Amendment rights of protestors. 

A. Regulatory Planning and Review 

Executive Orders 12866 and 13563 

direct agencies to assess the costs and 

benefits of available regulatory 

alternatives and, if regulation is 

necessary, to select regulatory 

approaches that maximize net benefits. 

Executive Order 13563 emphasizes the 

importance of quantifying both costs 

and benefits, of reducing costs, of 

harmonizing rules, and of promoting 

flexibility. This rule has not been 

designated a ‘‘significant regulatory 

action,’’ under Executive Order 12866. 

Accordingly, it has not been reviewed 

by the Office of Management and 

Budget. 

This regulatory action determination 

is based on the size, location, duration, 

and specific times of enforcement for 

the special local regulation. The limited 

duration of the zone is intended to 

protect personnel, vessels, and the 

marine environment in these navigable 

waters while the high speed boat races 


rmajette on DSK2TPTVN1PROD with RULES