Federal Register / Vol. 77, No. 241 / Friday, December 14, 2012 / Rules and Regulations 74353 

An example of how the fee is 

calculated for one exchange, the 

Chicago Board of Trade, is set forth 

here: 

a. Actual three-year average costs 

equal $78,553. 

b. The alternative computation is: (.5) 

($78,553) + (.5) (.274) ($1,340,083) = 

$222,868. 

c. The fee is the lesser of a or b; in 

this case $78,553. 

As noted above, the alternative 

calculation based on contracts traded is 

not applicable to NFA because it is not 

a DCM and has no contracts traded. The 

Commission’s average annual cost for 

conducting oversight review of the NFA 

rule enforcement program during fiscal 

years 2009 through 2011 was $577,549 

(one-third of $1,732,647). The fee to be 

paid by the NFA for the current fiscal 

year is $577,549. 

II. Schedule of Fees 

Therefore, fees for the Commission’s 

review of the rule enforcement programs 

at the registered futures associations and 

DCMs regulated by the Commission are 

as follows: 

2012 fee 

lesser of actual or 

calculated fee 

CBOE Futures ............................................................................................................................................................................. $17,611 

Chicago Board of Trade .............................................................................................................................................................. 78,553 

Chicago Climate Exchange ......................................................................................................................................................... 497 

Chicago Mercantile Exchange ..................................................................................................................................................... 548,855 

ICE Futures U.S. ......................................................................................................................................................................... 88,143 

Kansas City Board of Trade ........................................................................................................................................................ 44,642 

Minneapolis Grain Exchange ....................................................................................................................................................... 35,730 

New York Mercantile Exchange .................................................................................................................................................. 227,640 

New York LIFFE .......................................................................................................................................................................... 71,111 

Subtotal ................................................................................................................................................................................. 1,112,781 

National Futures Association ....................................................................................................................................................... 577,549 

Total ............................................................................................................................................................................... 1,690,330 

III. Payment Method 

The Debt Collection Improvement Act 

(DCIA) requires deposits of fees owed to 

the government by electronic transfer of 

funds (See 31 U.S.C. 3720). For 

information about electronic payments, 

please contact Jennifer Fleming at (202) 

418–5034 or jfleming@cftc.gov, or see 

the CFTC Web site at www.cftc.gov, 

specifically, www.cftc.gov/cftc/ 

cftcelectronicpayments.htm. 

Issued in Washington, DC on this 11th day 

of December 2012, by the Commission. 

Sauntia S. Warfield, 

Assistant Secretary of the Commission. 

[FR Doc. 2012–30224 Filed 12–13–12; 8:45 am] 

BILLING CODE 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. 


mstockstill on DSK4VPTVN1PROD with ER14DE12.000</GPH>
74354 Federal Register / Vol. 77, No. 241 / Friday, December 14, 2012 / Rules and Regulations 

SUMMARY: This final rule amends the 

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 

January 2013. The interest assumptions 

are used for paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. As 

discussed below, PBGC will publish a 

separate final rule document dealing 

with interest assumptions under its 

regulation on Allocation of Assets in 

Single-Employer Plans for the first 

quarter of 2013. 

DATES: Effective January 1, 2013. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion 

(Klion.Catherine@pbgc.gov), Assistant 

General Counsel for Regulatory Affairs, 

Pension Benefit Guaranty Corporation, 

1200 K Street NW., Washington, DC 

20005, 202–326–4024. (TTY/TDD users 

may call the Federal relay service tollfree at 1–800–877–8339 and ask to be 

connected to 202–326–4024.) 

SUPPLEMENTARY INFORMATION: 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. The interest assumptions in 

the regulation are also published on 

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

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 January 2013. 

PBGC normally updates the 

assumptions under the benefit payments 

regulation for January at the same time 

as PBGC updates assumptions for the 

first quarter of the year under its 

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044) in a single rulemaking document. 

Because of delays in obtaining data used 

in setting assumptions under Part 4044 

for the first quarter of 2013, PBGC is 

publishing two separate rulemaking 

documents to update the benefit 

payments regulation for January 2013 

and the allocation regulation for the first 

quarter of 2013. 

The January 2013 interest 

assumptions under the benefit payments 

regulation will be 0.75 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 December 

2012, 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 January 2013, 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 

231 is added to the table to read as 

follows: 

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

*******

231 1–1–13 2–1–13 0.75 4.00 4.00 4.00 7 8 

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

231 is added to the table to read as 

follows: 

Appendix C to Part 4022—Lump Sum 

Interest Rates For Private-Sector 

Payments 

* * * * * 

mstockstill on DSK4VPTVN1PROD with 

Federal Register / Vol. 77, No. 241 / Friday, December 14, 2012 / Rules and Regulations 74355 

Rate set 

For plans 

with a 

valuation date 

Immediate 

annuity rate 

(percent) 

Deferred 

annuities 

(percent) 

On or after Before i1 i2 i3 n1 n2

*******

231 1–1–13 2–1–13 0.75 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 11th day 

of December 2012. 

Laricke Blanchard, 

Deputy Director for Policy, Pension Benefit 

Guaranty Corporation. 

[FR Doc. 2012–30202 Filed 12–13–12; 8:45 am] 

BILLING CODE 7709–01–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R09–OAR–2011–0589; FRL–9726–4] 

Approval of Air Quality Implementation 

Plans; California; San Joaquin Valley; 

Attainment Plan for the 1997 8-Hour 

Ozone Standards; Technical 

Amendments 

AGENCY: U.S. Environmental Protection 

Agency (EPA). 

ACTION: Final rule; technical 

amendments. 

SUMMARY: EPA is making a technical 

amendment to the Code of Federal 

Regulations (CFR) to reflect the 

Agency’s March 1, 2012 final approval 

of the California State Implementation 

Plan for attainment of the 1997 8-hour 

ozone National Ambient Air Quality 

Standards in the San Joaquin Valley. 

This technical amendment corrects the 

CFR to properly codify the California 

Air Resources Board’s commitment to 

update the air quality modeling in the 

San Joaquin Valley 8-Hour Ozone SIP by 

December 31, 2014. 

DATES: This technical amendment is 

effective on December 14, 2012. 

FOR FURTHER INFORMATION CONTACT: 

Frances Wicher, Air Planning Office 

(AIR–2), U.S. Environmental Protection 

Agency, Region 9, (415) 972–3957, 

wicher.frances@epa.gov. 

SUPPLEMENTARY INFORMATION: 

Throughout this document, ‘‘we’’, ‘‘us’’ 

and ‘‘our’’ refer to EPA. 

On March 1, 2012, EPA fully 

approved the California State 

Implementation Plan (SIP) for 

attainment of the 1997 8-hour ozone 

National Ambient Air Quality Standards 

(NAAQS) in the San Joaquin Valley and 

included provisions of this SIP in the 

Code of Federal Regulations (CFR) at 40 

CFR 52.220(c). See 77 FR 12652 (March 

1, 2012). 

The regulatory text for this final 

action included paragraph 

(c)(396)(ii)(A)(2)(ii) of 40 CFR 52.220. 

This paragraph contains CARB’s 

commitment to update the air quality 

modeling in the San Joaquin Valley 8- 

Hour Ozone SIP to reflect emissions 

inventory improvements and any other 

new information by December 31, 2014 

or the date by which state 

implementation plans are due for the 

expected revision to the Federal 8-hour 

ozone standard whichever comes first, 

as provided on page 3 of CARB 

Resolution No. 11–22 (dated July 21, 

2011). CARB Resolution 11–22 

documents CARB’s adoption of the 8- 

Hour Ozone State Implementation Plan 

Revisions and Technical Revisions to 

the PM2.5 State Implementation Plan 

Transportation Conformity Budgets for 

the South Coast and San Joaquin Valley 

Air Basins (dated June 20, 2011). 

However, the amendatory language at 

the beginning of this regulatory text (77 

FR 12672) did not identify this 

paragraph and as a result this paragraph 

is not currently in the CFR. We are 

issuing this technical amendment to 40 

CFR 52.220 to correct this oversight. 

This technical amendment makes no 

change to the substance of our March 1, 

2012 approval of the SJV 8-Hour Ozone 

SIP. 

List of Subjects in 40 CFR Part 52 

Environmental protection, Air 

pollution control, Intergovernmental 

relations, Nitrogen Dioxide, Ozone, 

Volatile organic compounds. 

Dated: December 4, 2012. 

Jared Blumenfeld, 

Regional Administrator, Region IX. 

Part 52, Chapter I, Title 40 of the Code 

of Federal Regulations is amended as 

follows: 

PART 52 [AMENDED] 

■ 1. The authority citation for part 52 

continues to read as follows: 

Authority: 42 U.S.C. 7401 et seq. 

Subpart F—California 

■ 2. Section 52.220 is amended by 

adding paragraph (c)(396)(ii)(A)(2)(ii) to 

read as follows: 

§ 52.220 Identification of plan. 

* * * * * 

(c) * * * 

(396) * * * 

(ii) * * * 

(A) * * * 

(2) * * * 

(ii) Commitment to update the air 

quality modeling in the SJV 2007 Ozone 

Plan to reflect the emissions inventory 

improvements and any other new 

information by December 31, 2014 or 

the date by which state implementation 

plans are due for the expected revision 

to the Federal 8-hour ozone standard 

whichever comes first, as provided on 

page 3. 

* * * * * 

[FR Doc. 2012–30245 Filed 12–13–12; 8:45 am] 

BILLING CODE 6560–50–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R08–OAR–2011–0114; FRL–9751–6] 

Approval, Disapproval and 

Promulgation of State Implementation 

Plans; State of Utah; Regional Haze 

Rule Requirements for Mandatory 

Class I Areas Under 40 CFR 51.309 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: EPA is partially approving 

and partially disapproving a State 

Implementation Plan (SIP) revision 

submitted by the State of Utah on May 

26, 2011 that addresses regional haze. 

EPA is also approving specific sections 

of a State of Utah SIP revision submitted 

on September 9, 2008 to address 

regional haze. These SIP revisions were 

submitted to address the requirements 

of the Clean Air Act (CAA or Act) and 

our rules that require states to prevent 

any future and remedy any existing 

man-made impairment of visibility in 

mstockstill on DSK4VPTVN1PROD with