Federal Register / Vol. 70, No. 178 / Thursday, September 15, 2005 / Rules and Regulations 54477 

Overhaul and Upper Fitting Overhaul and 

Bolt Replacement’’ of the service bulletin. 

Alternative Methods of Compliance 

(AMOCs) 

(l)(1) The Manager, Seattle Aircraft 

Certification Office (ACO), FAA, has the 

authority to approve AMOCs for this AD, if 

requested in accordance with the procedures 

found in 14 CFR 39.19. 

(2) An AMOC that provides an acceptable 

level of safety may be used for any repair 

required by this AD, if it is approved by an 

Authorized Representative for the Boeing 

Commercial Airplanes Delegation Option 

Authorization Organization who has been 

authorized by the Manager, Seattle ACO, to 

make those findings. For a repair method to 

be approved, the repair must meet the 

certification basis of the airplane, and the 

approval must specifically refer to this AD. 

(3) The actions identified in paragraphs (g) 

and (j) of this AD are approved as an AMOC 

to paragraphs (c) and (d) of AD 2004–07–22, 

amendment 39–13566, for the inspections of 

structural significant item S–2, for the thrust 

links only, of Boeing Supplemental 

Structural Inspection Document D6–35022, 

Revision G, dated December 2000. All 

provisions of AD 2004–07–22 that are not 

specifically referenced in this paragraph, 

including the initial inspection threshold 

required by paragraph (d) of AD 2004–07–22, 

remain fully applicable and must be 

complied with. 

Material Incorporated by Reference 

(m) You must use Boeing Alert Service 

Bulletin 747–71A2309, dated August 18, 

2005, to perform the actions that are required 

by this AD, unless the AD specifies 

otherwise. The Director of the Federal 

Register approved the incorporation by 

reference of this document in accordance 

with 5 U.S.C. 552(a) and 1 CFR part 51. 

Contact Boeing Commercial Airplanes, P.O. 

Box 3707, Seattle, Washington 98124–2207, 

for a copy of this service information. You 

may review copies at the Docket Management 

Facility, U.S. Department of Transportation, 

400 Seventh Street SW., room PL–401, Nassif 

Building, Washington, DC; on the Internet at 

http://dms.dot.gov; or at the National 

Archives and Records Administration 

(NARA). For information on the availability 

of this material at the NARA, call (202) 741–

6030, or go to http://www.archives.gov/ 

federal_register/code_of_federal_regulations/ 

ibr_locations.html. 

Issued in Renton, Washington, on 

September 6, 2005. 

Kalene C. Yanamura, 

Acting Manager, Transport Airplane 

Directorate, Aircraft Certification Service. 

[FR Doc. 05–18212 Filed 9–14–05; 8:45 am] 

BILLING CODE 4910–13–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Parts 4022 and 4044 

Benefits Payable in Terminated SingleEmployer Plans; Allocation of Assets 

in Single-Employer Plans; Interest 

Assumptions for Valuing and Paying 

Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: The Pension Benefit Guaranty 

Corporation’s regulations on Benefits 

Payable in Terminated Single-Employer 

Plans and Allocation of Assets in 

Single-Employer Plans prescribe interest 

assumptions for valuing and paying 

benefits under terminating singleemployer plans. This final rule amends 

the regulations to adopt interest 

assumptions for plans with valuation 

dates in October 2005. Interest 

assumptions are also published on the 

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

DATES: Effective October 1, 2005. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion, Attorney, 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: The 

PBGC’s regulations prescribe actuarial 

assumptions—including interest 

assumptions—for valuing and paying 

plan benefits of terminating singleemployer plans covered by title IV of 

the Employee Retirement Income 

Security Act of 1974. The interest 

assumptions are intended to reflect 

current conditions in the financial and 

annuity markets. 

Three sets of interest assumptions are 

prescribed: (1) A set for the valuation of 

benefits for allocation purposes under 

section 4044 (found in appendix B to 

part 4044), (2) a set for the PBGC to use 

to determine whether a benefit is 

payable as a lump sum and to determine 

lump-sum amounts to be paid by the 

PBGC (found in appendix B to part 

4022), and (3) a set for private-sector 

pension practitioners to refer to if they 

wish to use lump-sum interest rates 

determined using the PBGC’s historical 

methodology (found in appendix C to 

part 4022). 

Accordingly, this amendment (1) 

Adds to appendix B to part 4044 the 

interest assumptions for valuing benefits 

for allocation purposes in plans with 

valuation dates during October 2005, (2) 

adds to appendix B to part 4022 the 

interest assumptions for the PBGC to 

use for its own lump-sum payments in 

plans with valuation dates during 

October 2005, and (3) adds to appendix 

C to part 4022 the interest assumptions 

for private-sector pension practitioners 

to refer to if they wish to use lump-sum 

interest rates determined using the 

PBGC’s historical methodology for 

valuation dates during October 2005. 

For valuation of benefits for allocation 

purposes, the interest assumptions that 

the PBGC will use (set forth in appendix 

B to part 4044) will be 3.50 percent for 

the first 20 years following the valuation 

date and 4.75 percent thereafter. These 

interest assumptions represent a 

decrease (from those in effect for August 

2005) of 0.10 percent for the first 20 

years following the valuation date and 

are otherwise unchanged. 

The interest assumptions that the 

PBGC will use for its own lump-sum 

payments (set forth in appendix B to 

part 4022) will be 2.25 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. These interest assumptions 

represent a decrease (from those in 

effect for August 2005) of 0.25 percent 

for the period during which a benefit is 

in pay status and are otherwise 

unchanged. 

For private-sector payments, the 

interest assumptions (set forth in 

appendix C to part 4022) will be the 

same as those used by the PBGC for 

determining and paying lump sums (set 

forth in appendix B to part 4022). 

The 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, as 

accurately as possible, current market 

conditions. 

Because of the need to provide 

immediate guidance for the valuation 

and payment of benefits in plans with 

valuation dates during October 2005, 

the PBGC finds that good cause exists 

for making the assumptions set forth in 

this amendment effective less than 30 

days after publication. 

The 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). 

54478 Federal Register / Vol. 70, No. 178 / Thursday, September 15, 2005 / Rules and Regulations 

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 

144, as set forth below, is added to the 

table. (The introductory text of the table 

is omitted.) 

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

* * * * * * * 

144 10–1–05 11–1–05 2.25 4.00 4.00 4.00 7 8 

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

144, as set forth below, is added to the 

table. (The introductory text of the table 

is omitted.) 

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

* * * * * * * 

144 10–1–05 11–1–05 2.25 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, as set forth below, is added to the 

table. (The introductory text of the table 

is omitted.) 

Appendix B To Part 4044—Interest 

Rates Used To Value Benefits 

* * * * * 

For valuation dates occurring in the month—

The values of it are: 

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

* * * * * * * 

October 2005 .................................................................... .0350 1–20 .0475 >20 N/A N/A 

Issued in Washington, DC, on this 9th day 

of September, 2005. 

Vincent K. Snowbarger, 

Deputy Executive Director, Pension Benefit 

Guaranty Corporation. 

[FR Doc. 05–18328 Filed 9–14–05; 8:45 am] 

BILLING CODE 7708–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 100 

[CGD05–05–110] 

RIN 1625–AA08 

Special Local Regulations for Marine 

Events; Wrightsville Channel, 

Wrightsville Beach, NC 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of enforcement of 

regulation. 

SUMMARY: The Coast Guard is 

implementing the special local 

regulations at 33 CFR 100.513 during 

the Wilmington YMCA Triathlon to be 

held September 24, 2005, on the waters 

of Wrightsville Channel, Wrightsville 

Beach, North Carolina. This action is 

necessary to provide for the safety of life 

on navigable waters during the event. 

The effect will be to restrict general 

navigation in the regulated area for the 

safety of participants and vessels 

transiting the event area. 

Enforcement Dates: 33 CFR 100.513 

will be enforced from 6:30 a.m. to 8:30 

a.m. on September 24, 2005. 

FOR FURTHER INFORMATION CONTACT: 

D.M. Sens, Project Manager, Fifth Coast