20210 Federal Register / Vol. 65, No. 73 / Friday, April 14, 2000 / Notices

released off site, and there is no

significant increase in occupational or

public radiation exposure. Therefore,

there are no significant radiological

environmental impacts associated with

the proposed action.

With regard to potential nonradiological impacts, the proposed

action does not involve any historic

sites. It does not affect non-radiological

plant effluents and has no other

environmental impact. Therefore, there

are no significant non-radiological

environmental impacts associated with

the proposed action.

Accordingly, the NRC concludes that

there are no significant environmental

impacts associated with the proposed

action.

Alternative to the Proposed Action

As an alternative to the proposed

action, the staff considered denial of the

proposed action (i.e., the ‘‘no action’’

alternative). Denial of the exemption

would result in no change in current

environmental impacts. The

environmental impacts of the proposed

action and the alternative action are

similar.

Alternative Use of Resources

This action does not involve the use

of any resources not previously

considered in the Final Environmental

Statement dated February 13, 1974, for

SQN Units 1 and 2.

Agencies and Persons Consulted

In accordance with its stated policy,

the NRC staff consulted with an official

of the State of Tennessee, Ms. Joelle

Key, on March 29, 2000, regarding the

environmental impact of the proposed

action. Ms. Key had no comments.

Finding of No Significant Impact

On the basis of the environmental

assessment, the Commission concludes

that the proposed action will not have

a significant effect on the quality of the

human environment. Accordingly, the

Commission has determined not to

prepare an environmental impact

statement for the proposed action.

For further details with respect to this

action, see the licensee’s letter dated

February 11, 2000, which is available

for public inspection at the

Commission’s Public Document Room,

the Gelman Building, 2120 L Street

NW., Washington, DC. Publically

available records will be accessible

electronically from the ADAMS Public

Library component on the NRC Web

site, http://www.nrc.gov (the Electronic

Reading Room) and from the

Agencywide Documents Access and

Management System.

Dated at Rockville, Maryland, this 10th day

of April 2000.

For The Nuclear Regulatory Commission.

Ronald W. Hernan,

Senior Project Manager, Section 2, Project

Directorate II, Division of Licensing Project

Management, Office of Nuclear Reactor

Regulation.

[FR Doc. 00–9298 Filed 4–13–00; 8:45 am]

BILLING CODE 7590–01–P

PENSION BENEFIT GUARANTY

CORPORATION

Interest Assumption for Determining

Variable-Rate Premium; Interest on

Late Premium Payments; Interest on

Underpayments and Overpayments of

Single-Employer Plan Termination

Liability and Multiemployer Withdrawal

Liability; Interest Assumptions for

Multiemployer Plan Valuations

Following Mass Withdrawal

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Notice of interest rates and

assumptions.

SUMMARY: This notice informs the public

of the interest rates and assumptions to

be used under certain Pension Benefit

Guaranty Corporation regulations. These

rates and assumptions are published

elsewhere (or are derivable from rates

published elsewhere), but are collected

and published in this notice for the

convenience of the public. Interest rates

are also published on the PBGC’s web

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

DATES: The interest rate for determining

the variable-rate premium under part

4006 applies to premium payment years

beginning in April 2000. The interest

assumptions for performing

multiemployer plan valuations

following mass withdrawal under part

4281 apply to valuation dates occurring

in May 2000. The interest rates for late

premium payments under part 4007 and

for underpayments and overpayments of

single-employer plan termination

liability under part 4062 and

multiemployer withdrawal liability

under part 4219 apply to interest

accruing during the second quarter

(April through June) of 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:

Variable-Rate Premiums

Section 4006(a)(3)(E)(iii)(II) of the

Employee Retirement Income Security

Act of 1974 (ERISA) and § 4006.4(b)(1)

of the PBGC’s regulation on Premium

Rates (29 CFR part 4006) prescribe use

of an assumed interest rate in

determining a single-employer plan’s

variable-rate premium. The rate is the

‘‘applicable percentage’’ (currently 85

percent) of the annual yield on 30-year

Treasury securities for the month

preceding the beginning of the plan year

for which premiums are being paid (the

‘‘premium payment year’’). The yield

figure is reported in Federal Reserve

Statistical Releases G.13 and H.15.

The assumed interest rate to be used

in determining variable-rate premiums

for premium payment years beginning

in April 2000 is 5.14 percent (i.e., 85

percent of the 6.05 percent yield figure

for March 2000).

The following table lists the assumed

interest rates to be used in determining

variable-rate premiums for premium

payment years beginning between May

1999 and April 2000.

For premium payment years

beginning in:

The assumed interest rate is:

May 1999 .................................. 4.72

June 1999 ................................. 4.94

July 1999 .................................. 5.13

August 1999 ............................. 5.08

September 1999 ....................... 5.16

October 1999 ............................ 5.16

November 1999 ........................ 5.32

December 1999 ........................ 5.23

January 2000 ............................ 5.40

February 2000 .......................... 5.64

March 2000 ............................... 5.30

April 2000 ................................. 5.14

Late Premium Payments;

Underpayments and Overpayments of

Single-Employer Plan Termination

Liability

Section 4007(b) of ERISA and

§ 4007.7(a) of the PBGC’s regulation on

Payment of Premiums (29 CFR part

4007) require the payment of interest on

late premium payments at the rate

established under section 6601 of the

Internal Revenue Code. Similarly,

§ 4062.7 of the PBGC’s regulation on

Liability for Termination of Singleemployer Plans (29 CFR part 4062)

requires that interest be charged or

credited at the section 6601 rate on

underpayments and overpayments of

employer liability under section 4062 of

ERISA. The section 6601 rate is

established periodically (currently

quarterly) by the Internal Revenue

Service. The rate applicable to the

second quarter (April through June) of

Federal Register / Vol. 65, No. 73 / Friday, April 14, 2000 / Notices 20211

2000, as announced by the IRS, is 9

percent.

The following table lists the late

payment interest rates for premiums and

employer liability for the specified time

periods:

From— Through— Interest rate

(percent)

10/1/92 .......... 6/30/94 7

7/1/94 ............ 9/30/94 8

10/1/94 .......... 3/31/95 9

4/1/95 ............ 6/30/95 10

7/1/95 ............ 3/31/96 9

4/1/96 ............ 6/30/96 8

7/1/96 ............ 3/31/98 9

4/1/98 ............ 12/31/98 8

1/1/99 ............ 3/31/99 7

4/1/99 ............ 3/31/00 8

4/1/00 ............ 6/30/00 9

Underpayments and Overpayments of

Multiemployer Withdrawal Liability

Section 4219.32(b) of the PBGC’s

regulation on Notice, Collection, and

Redetermination of Withdrawal

Liability (29 CFR part 4219) specifies

the rate at which a multiemployer plan

is to charge or credit interest on

underpayments and overpayments of

withdrawal liability under section 4219

of ERISA unless an applicable plan

provision provides otherwise. For

interest accruing during any calendar

quarter, the specified rate is the average

quoted prime rate on short-term

commercial loans for the fifteenth day

(or the next business day if the fifteenth

day is not a business day) of the month

preceding the beginning of the quarter,

as reported by the Board of Governors

of the Federal Reserve System in

Statistical Release H.15 (‘‘Selected

Interest Rates’’). The rate for the second

quarter (April through June) of 2000

(i.e., the rate reported for March 15,

2000) is 8.75 percent.

The following table lists the

withdrawal liability underpayment and

overpayment interest rates for the

specified time periods:

From Through

Interest

Rate (percent)

10/1/92 .......... 6/30/94 6.00

7/1/94 ............ 9/30/94 7.25

10/1/94 .......... 12/31/94 7.75

1/1/95 ............ 3/31/95 8.50

4/1/95 ............ 9/30/95 9.00

10/1/95 .......... 3/31/96 8.75

4/1/96 ............ 6/30/97 8.25

7/1/97 ............ 12/31/98 8.50

1/1/99 ............ 9/30/99 7.75

10/1/99 .......... 12/31/99 8.25

1/1/00 ............ 3/31/00 8.50

4/1/00 ............ 6/30/00 8.75

Multiemployer Plan Valuations

Following Mass Withdrawal

The PBGC’s regulation on Duties of

Plan Sponsor Following Mass

Withdrawal (29 CFR part 4281)

prescribes the use of interest

assumptions under the PBGC’s

regulation on Allocation of Assets in

Single-employer Plans (29 CFR part

4044). The interest assumptions

applicable to valuation dates in May

2000 under part 4044 are contained in

an amendment to part 4044 published

elsewhere in today’s Federal Register.

Tables showing the assumptions

applicable to prior periods are codified

in appendix B to 29 CFR part 4044.

Issued in Washington, DC, on this 10th day

of April 2000.

John Seal,

Acting Executive Director, Pension Benefit

Guaranty Corporation.

[FR Doc. 00–9293 Filed 4–13–00; 8:45 am]

BILLING CODE 7708–01–P

POSTAL SERVICE

Postage Evidencing Product

Submission Procedures

AGENCY: Postal Service.

ACTION: Notice of proposed procedure;

response to comments; extension of

time for comments.

SUMMARY: ‘‘Postage Evidencing Product

Submission Procedures,’’ as published

in the Federal Register on August 17,

1999, was a notification of proposed

product submission procedures for all

postage evidencing products, including

those in the Information Based Indicia

Program (IBIP). In response to the

solicitation of public comments, two

submissions were received. These

comments were considered in making

the changes incorporated in this revised

version, as noted in the discussion of

comments, below. In addition to these

changes, this version includes new

policy on the relationship between the

Postal Service and the Provider

regarding intellectual property issues.

The USPS, in a cooperative effort with

Product Providers and other interested

parties, is allowing 30 days for

submission of any additional comments

to ensure all issues are considered prior

to publication of the final rule.

DATES: Comments must be received on

or before May 15, 2000.

ADDRESSES: Written comments should

be mailed or delivered to the Manager,

Postage Technology Management, Room

8430, 475 L’Enfant Plaza SW,

Washington DC 20260–2444. Copies of

all written comments will be available

at the above address for inspection and

photocopying between 9 a.m. and 4

p.m., Monday through Friday.

FOR FURTHER INFORMATION CONTACT:

Nicholas S. Stankosky, (202) 268–5311.

SUPPLEMENTARY INFORMATION: With the

expansion of postage application

methods and technologies, it is essential

that product submission procedures for

all postage evidencing products be

clearly stated and defined. The Postal

Service evaluation process can be

effective and efficient if these

procedures are followed explicitly by all

suppliers. In this way, secure and

convenient technology will be made

available to the mailing public with

minimal delay and with the complete

assurance that all Postal Service

technical, quality, and security

requirements have been met. These

procedures apply to all proposed

postage evidencing products and

systems, whether the Provider is new or

is currently authorized by the Postal

Service.

Title 39, Code of Federal Regulations

(CFR) Section 501.9, Security Testing,

states, ‘‘the Postal Service reserves the

right to require or conduct additional

examination and testing at any time,

without cause, of any meter submitted

to the Postal Service for approval or

approved by the Postal Service for

manufacture and distribution.’’ For

products meeting the performance

criteria for postage evidencing under the

Information Based Indicia Program

(IBIP), including PC Postage products,

the equivalent section is 39 CFR Section

502.10, Security Testing, published as a

proposed rule in the Federal Register,

September 2, 1998. When the Postal

Service elects to retest a previously

approved product, the Provider will be

required to resubmit the product for

evaluation according to part or all of the

proposed procedures. Full or partial

compliance with the procedures will be

determined by the Postal Service prior

to resubmission by the Provider. The

proposed submission procedures will be

referenced in 39 CFR parts 501 and 502

but will be published as a separate

document titled ‘‘Postage Technology

Management, Postage Evidencing

Product Submission Procedures.’’

Discussion of Comments

A. Scope of Review

1. One commenter expressed concern

that the scope of Postal Service review

of any postage evidencing device should

be limited to the boundaries of the

logical security device and to the

infrastructures and interfaces through

which the Postal Service verifies that

payment for postage has been received.