21252 Federal Register / Vol. 76, No. 73 / Friday, April 15, 2011 / Rules and Regulations 

1Appendix B to PBGC’s regulation on Allocation 

of Assets in Single-Employer Plans (29 CFR part 

4044) prescribes interest assumptions for valuing 

benefits under terminating covered single-employer 

plans for purposes of allocation of assets under 

ERISA section 4044. Those assumptions are 

updated quarterly. 

The Voting Section maintains a current list 

of those jurisdictions that have maintained 

successful declaratory judgments from the 

United States District Court for the District of 

Columbia pursuant to section 4 of the Act on 

its Web site at http://www.justice.gov/crt/ 

voting. 

Dated: April 8, 2011. 

Eric H. Holder, Jr., 

Attorney General. 

[FR Doc. 2011–9083 Filed 4–14–11; 8:45 am] 

BILLING CODE 4410–13–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends 

Pension Benefit Guaranty Corporation’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans to 

prescribe interest assumptions under 

the regulation for valuation dates in 

May 2011. PBGC’s regulation on 

Benefits Payable in Terminated SingleEmployer Plans prescribes actuarial 

assumptions—including interest 

assumptions—for paying plan benefits 

under terminating single-employer 

plans covered by title IV of the 

Employee Retirement Income Security 

Act of 1974. 

DATES: Effective May 1, 2011. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion, Manager, Regulatory 

and Policy Division, Legislative and 

Regulatory Department, Pension Benefit 

Guaranty Corporation, 1200 K Street, 

NW., Washington, DC 20005, 202–326– 

4024. (TTY/TDD users may call the 

Federal relay service toll-free at 1–800– 

877–8339 and ask to be connected to 

202–326–4024.) 

SUPPLEMENTARY INFORMATION: Interest 

assumptions are also published on 

PBGC’s Web site (http://www.pbgc.gov). 

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 terminating single-employer 

plans covered by title IV of the 

Employee Retirement Income Security 

Act of 1974. 

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 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 benefit 

payments regulation are updated 

monthly. This final rule updates the 

benefit payments interest assumptions 

for May 2011.1

The May 2011 interest assumptions 

under the benefit payments regulation 

will be 2.50 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 April 2011, 

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 payment of 

benefits under plans with valuation 

dates during May 2011, 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 

■ 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 

211, 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

*******

211 5–1–11 6–1–11 2.50 4.00 4.00 4.00 7 8 

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

211, as set forth below, is added to the 

table. 

Appendix C to Part 4022—Lump Sum 

Interest Rates for Private-Sector 

Payments 

* * * * * 


jlentini on DSKJ8SOYB1PROD with RULES
Federal Register / Vol. 76, No. 73 / Friday, April 15, 2011 / Rules and Regulations 21253 

Rate set 

For plans with a valuation 

date Immediate 

annuity rate 

(percent) 

Deferred annuities 

(percent) 

On or after Before i1 i2 i3 n1 n2

*******

211 5–1–11 6–1–11 2.50 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 7th day 

of April 2011. 

Vincent K. Snowbarger, 

Deputy Director for Operations, Pension 

Benefit Guaranty Corporation. 

[FR Doc. 2011–8926 Filed 4–14–11; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2011–0252] 

Drawbridge Operation Regulation; 

Company Canal, Lockport, LA 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of temporary deviation 

from regulations. 

SUMMARY: The Commander, Eighth 

Coast Guard District, has issued a 

temporary deviation from the regulation 

governing the operation of the LA 1 

vertical lift span bridge across Company 

Canal, mile 0.4, at Lockport, Lafourche 

Parish, Louisiana. The deviation is 

necessary to perform electrical 

rehabilitation work on the bridge. This 

deviation allows the bridge to remain 

closed to navigation for twelve 

consecutive hours each day from 

Monday through Thursday for three 

weeks. 

DATES: This deviation is effective from 

6 a.m. on Monday, June 27, 2011 

through 6 p.m. on Thursday, July 14, 

2011. 

ADDRESSES: Documents mentioned in 

this preamble as being available in the 

docket are part of docket USCG–2011– 

0252 and are available online by going 

to http://www.regulations.gov, inserting 

USCG–2011–0252 in the ‘‘Keyword’’ box 

and then clicking ‘‘Search’’. They are 

also available for inspection or copying 

at the Docket Management Facility (M– 

30), U.S. Department of Transportation, 

West Building Ground Floor, Room 

W12–140, 1200 New Jersey Avenue, SE., 

Washington, DC 20590, between 9 a.m. 

and 5 p.m., Monday through Friday, 

except Federal holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this rule, call or 

e-mail David Frank, Bridge 

Administration Branch, Coast Guard; 

telephone 504–671–2128, e-mail 

David.M.Frank@uscg.mil. If you have 

questions on viewing the docket, call 

Renee V. Wright, Program Manager, 

Docket Operations, telephone 202–366– 

9826. 

SUPPLEMENTARY INFORMATION: The 

Louisiana Department of Transportation 

and Development has requested a 

temporary deviation from the operating 

schedule of the vertical lift span bridge 

across Company Canal at mile 0.4 in 

Lockport, Lafourche Parish, Louisiana. 

The vertical clearance of the bridge is 

5 feet above Mean High Water in the 

closed-to-navigation position and 50 

feet above Mean High Water in the 

open-to-navigation position. 

In accordance with 33 CFR 

117.438(a), the vertical lift span of the 

bridge currently opens on signal except 

that, from 6 p.m. to 10 a.m. the draw 

opens on signal if at least 4 hours notice 

is given. This deviation allows the 

vertical lift span of the bridge to remain 

closed to navigation from 6 a.m. until 

6 p.m. Monday through Thursday from 

Monday, June 27, 2011 through 

Thursday July 14, 2011. 

The closure is necessary in order to 

replace electrical conductors and 

conduit throughout the bridge structure, 

including the removal and replacement 

of all navigation lights on the span and 

fender system. This maintenance is 

essential for the continued operation of 

the bridge. Temporary navigational 

lighting will be provided during the 

closure and power outage period. 

Notices will be published in the Eighth 

Coast Guard District Local Notice to 

Mariners and will be broadcast via the 

Coast Guard Broadcast Notice to 

Mariners System. 

Navigation on the waterway consists 

of commercial and recreational fishing 

vessels, small to medium crew boats, 

and small tugs with and without tows. 

The bridge opens for the passage of 

navigation an average of 16 times per 

month. There are two alternate 

waterway routes available via the Gulf 

Intracoastal Waterway east to Bayou 

Lafourche and west to Navigation Canal. 

Small vessels may pass under the bridge 

while in the closed-to-navigation 

position provided caution is exercised. 

Due to prior experience and 

coordination with waterway users, it 

has been determined that this closure 

will not have a significant effect on 

vessels that use the waterway. 

In accordance with 33 CFR 117.35(e), 

the drawbridge must return to its regular 

operating schedule immediately at the 

end of the designated time period. This 

deviation from the operating regulations 

is authorized under 33 CFR 117.35. 

Dated: April 5, 2011. 

David M. Frank, 

Bridge Administrator. 

[FR Doc. 2011–9147 Filed 4–14–11; 8:45 am] 

BILLING CODE 9110–04–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket No. USCG–2010–0939] 

RIN 1625–AA00 

Safety Zone; M/V DAVY CROCKETT, 

Columbia River 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The U.S. Coast Guard is 

extending and expanding the emergency 

safety zone established on the waters of 

the Columbia River surrounding the 

M/V DAVY CROCKETT at 

approximately river mile 117 on January 

28, 2011. The safety zone is necessary 

to help ensure the safety of the response 

workers and maritime public from the 

hazards associated with deleterious 

state of and ongoing response operations 

involving the M/V DAVY CROCKETT. 

All persons and vessels are prohibited 

from entering or remaining in the safety 

zone unless authorized by the Captain 

of the Port, Columbia River or his 

designated representative. 

DATES: This rule is effective from April 

15, 2011 through May 17, 2011. This 

rule is effective with actual notice for 

purposes of enforcement on March 28, 

2011. This rule will remain in effect 

through May 17, 2011. 

ADDRESSES: Documents indicated in this 

preamble as being available in the 


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