25470 Federal Register / Vol. 70, No. 92 / Friday, May 13, 2005 / Rules and Regulations 

(e) The completed application must 

be sent in duplicate to the USAID 

Registrar, Office of Private Voluntary 

Cooperation—American Schools & 

Hospitals Abroad, 1300 Pennsylvania 

Avenue, NW., Washington, DC 20523–

7600.

§ 203.8 IPVO annual documentation 

requirements. 

(a) To maintain its registration, each 

registered IPVO must submit documents 

and forms, in English, annually. The 

submission instructions and forms 

packet are available at USAID Web site 

www.usaid.gov Keyword: PVO 

Registration. The completed submission 

must include: 

(1) Audited financial statements for 

the most recent fiscal year prepared on 

an accrual basis in accordance with 

GAAP or generally accepted accounting 

standards for IPVO’s country of 

domicile by an independent CPA; or 

unaudited financial statements if total 

support and revenue is less than 

$50,000 in U.S. dollars; 

(2) Annual report or similar document 

that describes overall program activities 

for the same year as the audit, including 

a list of board members; 

(3) International Executive Contact 

Data Sheet; and 

(4) AID Form 200–1, PVO 

Classification Form. 

(b) IPVOs also must submit any 

amendments, if applicable, to its articles 

of incorporation, charter, or bylaws and 

any changes in the tax-exempt status. 

(c) Submission is due within six 

months after the close of the IPVO’s 

fiscal year. 

(d) In addition, each registrant must 

submit such other information as 

USAID may reasonably require to 

determine that the organization 

continues to meet the Conditions of 

Registration. 

(e) USAID may revise this list of 

documents from time to time. 

(f) Other USAID officials may request 

information similar to that submitted 

under these regulations for other 

purposes; for example, to determine the 

IPVO’s eligibility for a particular grant 

or cooperative agreement. 

(g) The completed submission must 

be sent annually in English to the 

USAID Registrar, Office of Private 

Voluntary Cooperation—American 

Schools & Hospitals Abroad, 1300 

Pennsylvania Avenue, NW., 

Washington, DC 20523–7600.

§ 203.9 Denial of registration. 

(a) Notification of denial of 

registration. Denial of registration by 

USAID will include written notice to 

the applicant stating the grounds for the 

denial. 

(b) Reconsideration. Within 30 days 

after receipt of a denial notification an 

organization may request that its 

application be reconsidered. USAID will 

consider the request and inform the 

applicant in writing of USAID’s 

subsequent decision. 

(c) Resubmission. An organization 

may at any time submit a new 

application for registration.

§ 203.10 Termination of registration.

(a) Reasons. USAID may terminate 

registration for any of the following 

reasons if the registrant: 

(1) Relinquishes its registration status 

voluntarily upon written notice to 

USAID; 

(2) Fails to comply with the 

documentation requirements or the 

Conditions of Registration; 

(3) Uses promotional material or 

advertisements suggesting that its 

USAID registration is an endorsement; 

or 

(4) Refuses to transfer to USAID any 

records, documents, copies of such 

records or documents, or information 

referred to in this regulation and within 

the registrant’s control within a 

reasonable time after USAID request 

them. 

(b) Notification of termination of 

registration. Termination by USAID will 

include written notice to the registrant 

stating the grounds for the termination. 

(c) Reconsideration. Within 30 days 

after receipt of a termination 

notification an organization may request 

that its termination be reconsidered. 

USAID will consider the request and 

inform the registrant in writing of 

USAID’s subsequent decision. In 

addition, USAID may, at its own 

discretion, reconsider a termination of 

registration at any time. 

(d) Resubmission. An organization 

may at any time submit a new 

application for registration.

§ 203.11 Access to records and 

communications. 

(a) All records, reports, and other 

documents that are made available to 

USAID pursuant to this regulation must 

be made available for public inspection 

and copying, pursuant to the Freedom 

of Information Act and other applicable 

laws. 

(b) Communications from USAID will 

only be sent to the applicant’s or 

registrant’s headquarters.

§ 203.12 Cooperative Development 

Organizations (CDOs). 

CDOs are not PVOs for purposes of 

registration under this part. CDOs as 

part of the larger PVO community will 

continue to be listed in the U.S. PVO 

Registry at www.usaid.gov Keyword: 

Registry and will continue to be eligible 

for assistance that is otherwise available 

to registered U.S. PVOs. In order to be 

listed in the Registry as a CDO, the CDO 

must comply with the annual 

documentation requirements of § 203.5. 

A CDO applying for registration or 

registered under this part as a U.S. PVO 

must comply with the requirements of 

this part.

§ 203.13 Delegation of authority. 

The Administrator of USAID or his/

her designee may delegate authority to 

the Assistant Administrator of the 

Bureau for Democracy, Conflict and 

Humanitarian Assistance to administer 

the registration process and, in 

particular, the authority to waive, 

withdraw, or amend any or all of the 

provisions within this part.

Dated: May 5, 2005. 

Mary Newton, 

Registrar, Private Voluntary Cooperation—

American Schools & Hospitals Abroad, 

Bureau for Democracy, Conflict and 

Humanitarian Assistance.

[FR Doc. 05–9544 Filed 5–12–05; 8:45 am] 

BILLING CODE 6116–01–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 May 2005. Interest assumptions 

are also published on the PBGC’s Web 

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

EFFECTIVE DATE: June 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 

Federal Register / Vol. 70, No. 92 / Friday, May 13, 2005 / Rules and Regulations 25471

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 June 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 June 

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 June 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 3.70 

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 May 2005) of 0.20 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 2.50 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. These interest assumptions 

represent a decrease (from those in 

effect for May 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 June 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).

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 

140, 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

* * * * * * * 

140 6–1–05 7–1–05 2.50 4.00 4.00 4.00 7 8 

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

140, 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

* * * * * * * 

140 6–1–05 7–1–05 2.50 4.00 4.00 4.00 7 8 

25472 Federal Register / Vol. 70, No. 92 / Friday, May 13, 2005 / Rules and Regulations 

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 = 

* * * * * * * 

June 2005 ......................................................................... .0370 1–20 .0475 >20 N/A N/A 

Issued in Washington, DC, on this 6th day 

of May 2005. 

Vincent K. Snowbarger, 

Deputy Executive Director, Pension Benefit 

Guaranty Corporation.

[FR Doc. 05–9548 Filed 5–12–05; 8:45 am] 

BILLING CODE 7708–01–P

DEPARTMENT OF THE INTERIOR

Office of Surface Mining Reclamation 

and Enforcement 

30 CFR Part 938

[PA–124–FOR] 

Pennsylvania Regulatory Program

AGENCY: Office of Surface Mining 

Reclamation and Enforcement (OSM), 

Interior.

ACTION: Final rule; approval of 

amendment. 

SUMMARY: We are approving, with 

certain exceptions, a proposed 

amendment to the Pennsylvania 

program under the Surface Mining 

Control and Reclamation Act of 1977 

(SMCRA or the Act). Pennsylvania 

proposed to revise its Surface Mining 

Conservation and Reclamation Act 

(PASMCRA) and implementing 

regulations at 25 Pa Code Chapters 86–

90 with regard to various issues 

including bonding, remining and 

reclamation, postmining discharges, and 

water supply protection/replacement. 

Pennsylvania revised its program to 

provide additional safeguards and 

clarify ambiguities.

DATES: Effective Date: May 13, 2005.

FOR FURTHER INFORMATION CONTACT:

George Rieger, Director, Pittsburgh Field 

Division; Telephone: (717) 782–4036; email: grieger@osmre.gov.

SUPPLEMENTARY INFORMATION:

I. Background on the Pennsylvania Program 

II. Submission of the Amendment 

III. OSM’s Findings 

IV. Summary and Disposition of Comments 

V. OSM’s Decision 

VI. Effect of Director’s Decision 

VII. Procedural Determinations

I. Background on the Pennsylvania 

Program 

Section 503(a) of the Act permits a 

State to assume primacy for the 

regulation of surface coal mining and 

reclamation operations on non-Federal 

and non-Indian lands within its borders 

by demonstrating that its State program 

includes, among other things, ‘‘a State 

law which provides for the regulation of 

surface coal mining and reclamation 

operations in accordance with the 

requirements of the Act * * *; and 

rules and regulations consistent with 

regulations issued by the Secretary 

pursuant to the Act.’’ See 30 U.S.C. 

1253(a)(1) and (7). On the basis of these 

criteria, the Secretary of the Interior 

conditionally approved the 

Pennsylvania program on July 30, 1982. 

You can find background information 

on the Pennsylvania program, including 

the Secretary’s findings, the disposition 

of comments, and conditions of 

approval in the July 30, 1982, Federal 

Register (47 FR 33050). You can also 

find later actions concerning 

Pennsylvania’s program and program 

amendments at 30 CFR 938.11, 938.12, 

938.15 and 938.16. 

II. Submission of the Proposed 

Amendment 

By letter dated December 18, 1998 

(Administrative Record No. PA 853.01), 

the Pennsylvania Department of 

Environmental Protection (PADEP) 

submitted a proposed amendment to its 

program covering various issues 

including bonding, remining and 

reclamation, postmining discharges, and 

water supply protection/replacement. 

The proposal included two documents: 

‘‘Provisions of Pennsylvania’s Statute—

Surface Mining Conservation and 

Reclamation Act—Submitted for 

Program Amendment’’ and ‘‘Provisions 

of Pennsylvania’s Regulations—25 Pa. 

Code Chapters 86–90—Submitted for 

Program Amendment.’’

We announced receipt of the 

proposed amendment in the March 12, 

1999 Federal Register (64 FR 12269), 

and in the same document invited 

public comment and provided an 

opportunity for a public hearing on the 

adequacy of the proposed amendment. 

The public comment period closed on 

April 12, 1999. Please refer to the March 

12, 1999, Federal Register for additional 

background information. In the July 8, 

1999 Federal Register (64 FR 36828), we 

reopened the comment period in 

response to a June 1, 1999, letter 

(Administrative Record No. PA 853.11) 

from PADEP regarding deletion of the 

definition of the term ‘‘best professional 

judgment’’ at 25 Pa. Code 87.202 and 25 

Pa. Code 88.502, and the deletion of 

subsections 25 Pa. Code 87.207(b) and 

25 Pa. Code 88.507(b). The reopened 

public comment period ended on July 

23, 1999. We received comments from: 

the Pennsylvania Historical and 

Museum Commission dated January 14, 

1999 (Administrative Record No. PA 

853.03); the United States Department of 

Agriculture, Natural Resources 

Conservation Service dated January 19, 

1999 (Administrative Record No. PA 

853.04); the U.S. Department of Labor, 

Mine Safety and Health Administration 

(MSHA), New Stanton, Pennsylvania, 

Office dated January 20, 1999 

(Administrative Record No. PA 853.05); 

MSHA’s Wilkes-Barre, Pennsylvania, 

Office dated January 26, 1999 

(Administrative Record No. PA 853.06); 

Amerikohl Mining, Inc. dated March 29, 

1999 (Administrative Record No. PA 

853.08); the Pennsylvania Coal 

Association dated April 9, 1999 

(Administrative Record No. PA 853.09); 

Schmid and Company Inc., Consulting 

Ecologists dated April 9, 1999 

(Administrative Record No. PA 853.10); 

and, the U.S. Environmental Protection 

Agency dated May 25, 2000 

(Administrative Record No. PA 853.19). 

By letters dated September 22, 1999 

(Administrative Record No. PA 853.14), 

and April 6, 2000 (Administrative 

Record No. PA 853.17), we requested