This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL

REGISTER issue of each week.

Rules and Regulations Federal Register

7967 

Vol. 80, No. 30 

Friday, February 13, 2015 

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. 

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 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 

March 2015. The interest assumptions 

are used for paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. 

DATES: Effective March 1, 2015. 

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 toll-free 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 March 2015.1

The March 2015 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 February 2015, 

these interest assumptions represent a 

decrease of 0.50 percent in the 

immediate annuity rate and are 

otherwise 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 March 2015, 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 

257, 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

*******

257 ................................ 3–1–15 4–1–15 0.50 4.00 4.00 4.00 7 8 


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7968 Federal Register / Vol. 80, No. 30 / Friday, February 13, 2015 / Rules and Regulations 

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

257, 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

*******

257 ................................ 3–1–15 4–1–15 0.50 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 6th day 

of February 2015. 

Judith Starr, 

General Counsel, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2015–03050 Filed 2–12–15; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket No. USCG–2014–0751] 

RIN 1625–AA00 

Safety Zone; Triathlon National 

Championships, Milwaukee Harbor, 

Milwaukee, Wisconsin 

AGENCY: Coast Guard, DHS. 

ACTION: Final rule. 

SUMMARY: The Coast Guard is 

establishing a safety zone within 

Milwaukee Harbor in Milwaukee, 

Wisconsin. This zone is intended to 

restrict vessels from a portion of 

Milwaukee Harbor due to the 2015 

Olympic and Sprint Distance National 

Championships. This safety zone is 

necessary to protect the surrounding 

public and vessels from the hazards 

associated with the 2015 Olympic and 

Sprint Distance National 

Championships. 

DATES: This final rule is effective from 

August 1, 2015, until August 30, 2015. 

ADDRESSES: Documents mentioned in 

this preamble are part of docket USCG– 

2014–0751. To view documents 

mentioned in this preamble as being 

available in the docket, go to http://

www.regulations.gov, type the docket 

number in the ‘‘SEARCH’’ box and click 

‘‘SEARCH.’’ Click on Open Docket 

Folder on the line associated with this 

rulemaking. You may also visit the 

Docket Management Facility in Room 

W12–140 on the ground floor of the 

Department of Transportation West 

Building, 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, contact 

MST1 Joseph McCollum, Prevention 

Department, Coast Guard Sector Lake 

Michigan, Milwaukee, WI at (414) 747– 

7148 or by email at 

Joseph.P.McCollum@USCG.mil. If you 

have questions on viewing or submitting 

material to the docket, call Cheryl 

Collins, Program Manager, Docket 

Operations, telephone 202–366–9826. 

SUPPLEMENTARY INFORMATION: 

Table of Acronyms 

DHS Department of Homeland Security 

FR Federal Register 

NPRM Notice of Proposed Rulemaking 

TFR Temporary Final Rule 

A. Regulatory History and Information 

On December 30, 2014, The Coast 

Guard published an NPRM entitled 

Safety Zone; Triathlon National 

Championships, Milwaukee Harbor, 

Milwaukee, Wisconsin in the Federal 

Register (79 FR 78369). We did not 

receive any comments in response to the 

proposed rule. No public meeting was 

requested and none was held. 

B. Basis and Purpose 

The legal basis for this rule is the 

Coast Guard’s authority to establish 

safety zones: 33 U.S.C. 1231; 33 CFR 

1.05–1, 160.5; Department of Homeland 

Security Delegation No. 0170.1. 

In 2014, the Coast Guard was 

informed that the Olympic and Sprint 

Distance National Championships are 

scheduled to return to Milwaukee 

Harbor in 2015. Within and around 

Milwaukee Harbor at Lakeshore inlet, 

this event is expected to involve 

thousands of participants competing in 

a swim race surrounded by thousands of 

spectators. The swim portion of this 

event is anticipated to occur on three 

days during the second week of August, 

2015. The Captain of the Port Lake 

Michigan has determined that the 

likelihood of transiting watercraft 

during the swim competition involving 

a large number of competitors presents 

a significant risk of serious injuries or 

fatalities. 

C. Discussion of Comments, Changes 

and the Final Rule 

The Captain of the Port Lake 

Michigan has determined that a safety 

zone is necessary to mitigate the 

aforementioned safety risks. Thus, this 

rule establishes a safety zone that 

encompasses all waters of Milwaukee 

Harbor, including Lakeshore inlet and 

the Marina at Pier Wisconsin, west of an 

imaginary line across the entrance to the 

Marina at Pier Wisconsin connecting 

coordinates 43°02.253′ N., 087°53.623′ 

W. and 43°01.737′ N., 087°53.727′ W. 

(NAD 83). 

This rule will be effective from 

August 1, 2015, until August 30, 2015. 

Additionally, the Coast Guard 

anticipates that this safety zone will be 

enforced from 10:30 a.m. until 2:30 p.m. 

on August 7; from 6:30 a.m. until 4:30 

p.m. on August 8, and from 6:30 a.m. 

until 11:30 a.m. on August 9, 2015. This 

2015 enforcement schedule may change, 

and in the event of a change, the 

Captain of the Port Lake Michigan will 

issue a Notice of Enforcement with an 

updated enforcement schedule. 

The Captain of the Port Lake 

Michigan will notify the public that the 

zone in this rule is or will be enforced 

by all appropriate means to the affected 

segments of the public including 

publication in the Federal Register as 

practicable, in accordance with 33 CFR 

165.7(a). Such means of notification 

may also include, but are not limited to 

Broadcast Notice to Mariners or Local 

Notice to Mariners. 

All persons and vessels shall comply 

with the instructions of the Captain of 

the Port Lake Michigan or her 

designated on-scene representative. 

Entry into, transiting, or anchoring 

within the safety zone is prohibited 

unless authorized by the Captain of the 

Port Lake Michigan or her designated 

on-scene representative. The Captain of 


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