Federal Register / Vol. 65, No. 73 / Friday, April 14, 2000 / Rules and Regulations 20083

DEPARTMENT OF STATE

22 CFR Part 62

[Public Notice 3284]

Fees for Exchange Visitor Program

Designation Services

AGENCY: Bureau of Educational and

Cultural Affairs, State.

ACTION: Final rule.

SUMMARY: By interim final rule

published September 27, 1999 (64 FR

51894), the United States Department of

State [‘‘Department’’] adopted fees

sufficient for it to recover the full cost

of its administrative processing of

certain requests for Exchange Visitor

Program Designation services. The

Department is hereby adopting as final

the September 27, 1999 interim final

rule, with modifications. The

Department administers the Exchange

Visitor Program pursuant to the

Fulbright-Hays Act of 1961. The

Departments of Commerce, Justice, and

State, the Judiciary, and Related Agency

Appropriations Act of 1998 authorizes

the Department to collect fees related to

its provision of Exchange Visitor

Program services.

DATES: Effective Date: The interim rule

published on September 27, 1999 (64 FR

51894) is adopted as final and is

effective on April 14, 2000. The

addition in this rule of § 62.90 is

effective on April 14, 2000. The

specified fee will be assessed for all

requests for an extension, change of

category, reinstatement, or program

designation as well as for non-routine

requests for the Form IAP–66 postmarked after April 14, 2000.

FOR FURTHER INFORMATION CONTACT:

Sally J. Lawrence (Chief), Exchange

Visitor Program Designation Staff.

(202)401–9810.

SUPPLEMENTARY INFORMATION: On

September 27, 1999, the United States

Information Agency [‘‘USIA’’] issued an

interim final rule on the adoption of fees

for all requests for an extension, change

of category, reinstatement, or program

designation as well as for non-routine

requests for the Form IAP–66. This rule

was to be effective on January 1, 2000.

The September 27 interim final rule on

fees was amended by a final rule dated

October 7, 1999 (64 FR 54538), and also

by an interim final rule dated January 5,

2000 (65 FR 352). Those amendments

were needed because of the

consolidation of USIA into the

Department of State and the time

needed to establish an administrative

process for the Department’s collection

of the fees. The Department now has

had sufficient time to institute the

requisite collection, recording and

accounting system.

Accordingly, the Department hereby

adopts as a final rule the September 27,

1999 interim final rule at 64 FR 51894,

with administrative modifications as

indicated above. This rule has no effect

on the user fee that is currently being

charged for applications for waiver of

the two-year home-country residence

requirement of 212(e) of the

Immigration and Nationality Act, as set

forth in 22 CFR 22.1 item 72.

Regulatory Flexibility Act

Because this rule involves a foreign

affairs function of the United States

Government, the Department is not

required to prepare and make available

for public comment an initial regulatory

flexibility analysis.

Executive Order 13132

This rule will not have substantial

direct effect on the States, on the

relationship between the National

Government and the States, or on the

distribution of power and

responsibilities among the various

levels of government.

Executive Order 12866

This rule is exempt from review

under Executive Order 12866, but has

been reviewed internally by the

Department to ensure consistency with

the purposes thereof.

Small Business Regulatory Enforcement

Fairness Act

The Department has determined that

this rule is not a major rule, as defined

by section 804 of the Small Business

Regulatory Enforcement Fairness Act of

1996.

Unfunded Mandates Reform Act of

1995

No actions are necessary under the

provisions of the unfunded Mandates

Reform Act of 1995.

Paperwork Reduction Act

This rule does not create any new

paperwork requirements.

List of Subjects in 22 CFR Part 62

Cultural Exchange Programs.

In consideration of the foregoing, the

Department of State amends Chapter I,

Subchapter G of Title 22, Code of

Federal Regulations, as follows:

PART 62—EXCHANGE VISITOR

PROGRAM

1. The authority citation for 22 CFR

Part 62 is revised to read as follows:

Authority: 8 U.S.C. 1101(a)(15)(J), 1182,

1184, 1258; 22 U.S.C. 1431–1442, 2451–2460;

Foreign Affairs Reform and Restructuring Act

of 1998, Pub. L. 105–277, 112 Stat. 2681 et

seq.; Reorganization Plan No. 2 of 1977, 3

CFR, 1977 Comp. p. 200; E.O. 12048 of

March 27, 1978; 3 CFR, 1978 Comp. p. 168.

Subpart H—Fees

2. Section 62.90 is added to 22 CFR

Part 62 to read as follows:

§ 62.90 Fees.

(a) Remittances. Fees prescribed

within the framework of 31 U.S.C. 9701

shall be submitted as directed by the

Department and shall be in the amount

prescribed by law or regulation.

Remittances must be drawn on a bank

or other institution located in the

United States and be payable in United

States currency and shall be made

payable to the ‘‘Department of State.’’ A

charge of $25.00 will be imposed if a

check in payment of a fee is not honored

by the bank on which it is drawn. If an

applicant is residing outside the United

States at the time of application,

remittance may be made by a bank

international money order or a foreign

draft drawn on an institution in the

United States, and payable to the

Department of State in United States

currency.

(b) Amounts of fees. The following

fees are prescribed:

(1) Request for program extension—

$198.

(2) Request for change of program

category—$198.

(3) Request for reinstatement—$198.

(4) Request for program designation—

$799.

(5) Request for non-routine handling

of an IAP–66 Form Request—$43.

Dated: April 7, 2000.

William B. Bader,

Assistant Secretary for Educational and

Cultural Affairs, Department of State.

[FR Doc. 00–9232 Filed 4–13–00; 8:45 am]

BILLING CODE 4710–08–U

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

20084 Federal Register / Vol. 65, No. 73 / Friday, April 14, 2000 / Rules and Regulations

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 May 2000. Interest assumptions

are also published on the PBGC’s web

site (http://www.pbgc.gov).

EFFECTIVE DATE: May 1, 2000.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Counsel, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005, 202–326–4024. (For TTY/TDD

users, call the Federal relay service tollfree 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.

On March 17, 2000, the PBGC

published in the Federal Register (at 65

FR 14752 and 14753) two final rules

changing how the interest rates are to be

used and where they are to be set forth

in the PBGC’s regulations. These two

final rules are effective May 1, 2000,

which is also the effective date of this

amendment to the interest rate tables.

As of May 1, 2000, three sets of

interest rate 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). (For a more detailed

explanation of the lump-sum interest

rates for private-sector payments, see 65

FR 14753.)

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 May 2000, (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 May

2000, 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 May 2000.

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 7.00

percent for the first 25 years following

the valuation date and 6.25 percent

thereafter. These interest assumptions

represent a decrease (from those in

effect for April 2000) of 0.10 percent for

the first 25 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 5.25 percent for the

period during which a benefit is in pay

status, 4.50 percent during the sevenyear period directly preceding the

benefit’s placement in pay status, and

4.00 percent during any other years

preceding the benefit’s placement in pay

status. These interest assumptions are

unchanged from those in effect for April

2000.

For private-sector payments, the

interest rate 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 May 2000, 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).

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, as amended

by the final rules effective May 1, 2000,

published March 17, 2000 (at 65 FR

14752 and 14753), are further 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

79, 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 i 1 i 2 i 3 n 1 n 2

*******

79 ...................................................................... 5–1–00 6–1–00 5.25 4.50 4.00 4.00 7 8

Federal Register / Vol. 65, No. 73 / Friday, April 14, 2000 / Rules and Regulations 20085

3. In appendix C to part 4022, Rate Set

79, 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

*******

79 ...................................................... 5–1–00 6–1–00 5.25 4.50 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 =

*******

May 2000 .................................................................................................. .0700 1–25 .0625 >25 N/A N/A

Issued in Washington, DC, on this 10th day

of April 2000.

John Seal,

Acting Executive Director, Pension Benefit

Guaranty Corporation.

[FR Doc. 00–9292 Filed 4–13–00; 8:45 am]

BILLING CODE 7708–01–P

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR PART 110

[CGD11–99–009]

RIN 2115–AA98

Anchorage Regulation; San Francisco

Bay, CA

AGENCY: Coast Guard, DOT.

ACTION: Final rule.

SUMMARY: The Coast Guard is amending

the regulations for the special anchorage

area in Richardson Bay, adjacent to San

Francisco Bay, California by modifying

the explanatory note accompanying the

designation of the special anchorage.

This explanatory information is

provided at the request of local

authorities and is intended to facilitate

safe navigation by calling mariners’

attention to local regulations governing

the anchorage area.

EFFECTIVE DATE: This final rule is

effective on May 15, 2000.

ADDRESSES: Documents as indicated in

this preamble are available for

inspection and copying at Coast Guard

Marine Safety Office, San Francisco

Bay, Building 14, Coast Guard Island,

Alameda, CA 94501. Normal office

hours are between 7:30 a.m. and 4 p.m.,

Monday through Friday, except

holidays.

FOR FURTHER INFORMATION CONTACT:

Lieutenant Andrew Cheney, Marine

Safety Office San Francisco Bay,

telephone (510) 437–2770.

SUPPLEMENTARY INFORMATION:

Regulatory History

On January 11, 2000 the Coast Guard

published a Notice of Proposed

Rulemaking (NPRM) for this regulation

in the Federal Register (65 FR 1581).

The comment period ended on March

13, 2000. The Coast Guard received one

comment on the proposal, which is

addressed below. A public hearing was

not requested and no hearing was held.

The Coast Guard is revising the

‘‘Note’’ accompanying the special

anchorage regulations, 33 CFR 110.126a,

for San Francisco Bay. This rule will

amend the explanatory information

provided regarding local authority and

requirements.

A special anchorage is an area where

vessels less than 20 meters in length are

not required to make sound signals

while anchored or display anchor lights

as would otherwise be required under

the Navigation Rules. Richardson Bay

was designated a special anchorage area

in 1969, and the regulations were

amended in 1980. The special

anchorage designation is marked on the

chart of the area and referenced in the

Coast Pilot for the convenience of

mariners. Local authorities also exercise

jurisdiction over this water area and

have enacted ordinances further

regulating vessel activity. These local

authorities have encountered confusion

on the part of mariners about the

applicable requirements and the

concurrent exercise of authority by both

federal and local entities. The

Richardson Bay Regional Agency asked

the Coast Guard to update the

explanatory note accompanying the

Federal anchorage regulations regarding

the existence of local authority and

ordinances. The Coast Guard believes

that providing accurate and current

information regarding applicable

authority and requirements would be in

the best interest of safe and efficient

navigation. This amendment to the

regulation does not alter the special

anchorage area designation or change

the dimensions of the anchorage area.

Discussion of Comments

One comment was received in favor of

the amendment to the anchorage

regulations. The commenter felt that the

change to the explanatory note would

help clarify jurisdiction over the waters

of Richardson Bay, and that it would

provide direction to the public

regarding appropriate use of the