61270 Federal Register / Vol. 69, No. 199 / Friday, October 15, 2004 / Notices 

7.0 The NEPA Process 

The EIS for the proposed ACP will be 

prepared according to NEPA and NRC 

NEPA implementing regulations 

contained in 10 CFR part 51. 

After the scoping process is complete, 

the NRC will prepare a draft EIS. The 

draft EIS is scheduled to be published 

by July 2005. A 45-day comment period 

on the draft EIS is planned, and a public 

meeting to receive comments will be 

held approximately three weeks after 

publication of the draft EIS. Availability 

of the draft EIS, the dates of the public 

comment period, and information about 

the public meeting will be announced in 

the Federal Register, on NRC’s USEC 

Web page, and in the local news media. 

The final EIS is expected to be 

published in March 2006 and will 

incorporate, as appropriate, public 

comments received on the draft EIS.

Signed in Rockville, MD, this 7th day of 

October 2004.

For the Nuclear Regulatory Commission. 

B. Jennifer Davis, 

Chief, Environmental and Performance 

Assessment Directorate, Division of Waste 

Management and Environmental Protection, 

Office of Nuclear Material Safety and 

Safeguards.

[FR Doc. 04–23134 Filed 10–14–04; 8:45 am] 

BILLING CODE 7590–01–P

PENSION BENEFIT GUARANTY 

CORPORATION 

Proposed Submission of Information 

Collection for OMB Review; Comment 

Request; Liability for Termination of 

Single-Employer Plans

AGENCY: Pension Benefit Guaranty 

Corporation.

ACTION: Notice of intention to request 

extension of OMB approval. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (‘‘PBGC’’) intends to 

request that the Office of Management 

and Budget (‘‘OMB’’) extend approval, 

under the Paperwork Reduction Act, of 

a collection of information contained in 

its regulation on Liability for 

Termination of Single-Employer Plans, 

29 CFR part 4062 (OMB control number 

1212–0017; expires January 31, 2005). 

This notice informs the public of the 

PBGC’s intent and solicits public 

comment on the collection of 

information.

DATES: Comments should be submitted 

by December 14, 2004.

ADDRESSES: Comments may be mailed to 

the Office of the General Counsel, 

Pension Benefit Guaranty Corporation, 

1200 K Street, NW., Washington, DC 

20005–4026, or delivered to Suite 340 at 

that address during normal business 

hours. Comments also may be submitted 

electronically through the PBGC’s Web 

site at http://www.pbgc.gov/paperwork,

or by fax to (202) 326–4112. The PBGC 

will make all comments available on its 

Web site, http://www.pbgc.gov.

Copies of the collection of 

information may be obtained without 

charge by writing to the PBGC’s 

Communications and Public Affairs 

Department at Suite 240 at the above 

address or by visiting that office or 

calling (202) 326–4040 during normal 

business hours. (TTY and TDD users 

may call the Federal relay service tollfree at 1–800–877–8339 and ask to be 

connected to (202) 326–4040.) The 

regulation on Liability for Termination 

of Single-Employer Plans can be 

accessed on the PBGC’s Web site at 

http://www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General 

Counsel, or Thomas H. Gabriel, 

Attorney, Office of the General Counsel, 

Pension Benefit Guaranty Corporation, 

1200 K Street, NW., Washington, DC 

20005–4026, (202) 326–4024. (For TTY 

and TDD, call (800) 877–8339 and 

request connection to (202) 326–4024).

SUPPLEMENTARY INFORMATION: Section 

4062 of the Employee Retirement 

Income Security Act of 1974 provides 

that the contributing sponsor of a singleemployer pension plan and members of 

the sponsor’s controlled group (‘‘the 

employer’’) incur liability (‘‘employer 

liability’’) if the plan terminates with 

assets insufficient to pay benefit 

liabilities under the plan. The PBGC’s 

statutory lien for employer liability and 

the payment terms for employer liability 

are affected by whether and to what 

extent employer liability exceeds 30 

percent of the employer’s net worth. 

Section 4062.6 of the PBGC’s 

employer liability regulation (29 CFR 

4062.6) requires a contributing sponsor 

or member of the contributing sponsor’s 

controlled group who believes employer 

liability upon plan termination exceeds 

30 percent of the employer’s net worth 

to so notify the PBGC and to submit net 

worth information. This information is 

necessary to enable the PBGC to 

determine whether and to what extent 

employer liability exceeds 30 percent of 

the employer’s net worth. 

The collection of information under 

the regulation has been approved by 

OMB under control number 1212–0017 

through January 31, 2005. The PBGC 

intends to request that OMB extend its 

approval for another three years. An 

agency may not conduct or sponsor, and 

a person is not required to respond to, 

a collection of information unless it 

displays a currently valid OMB control 

number. 

The PBGC estimates that an average of 

5 contributing sponsors or controlled 

group members per year will respond to 

this collection of information. The 

PBGC further estimates that the average 

annual burden of this collection of 

information will be 12 hours and $3,300 

per respondent, with an average total 

annual burden of 60 hours and $16,500. 

The PBGC is soliciting public 

comments to—

• Evaluate whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

collection of information, including the 

validity of the methodology and 

assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submission of 

responses.

Issued in Washington, DC, this 12th day of 

October, 2004. 

Stuart A. Sirkin, 

Director, Corporate Policy and Research 

Department, Pension Benefit Guaranty 

Corporation.

[FR Doc. 04–23182 Filed 10–14–04; 8:45 am] 

BILLING CODE 7708–01–P

PENSION BENEFIT GUARANTY 

CORPORATION 

Required Interest Rate 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 

Federal Register / Vol. 69, No. 199 / Friday, October 15, 2004 / Notices 61271

rates and assumptions are published 

elsewhere (or can be derived 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 required interest rate for 

determining the variable-rate premium 

under part 4006 applies to premium 

payment years beginning in October 

2004. The interest assumptions for 

performing multiemployer plan 

valuations following mass withdrawal 

under part 4281 apply to valuation dates 

occurring in November 2004. 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 fourth 

quarter (October through December) of 

2004.

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. (TTY/TDD users 

may 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 (the 

‘‘required interest rate’’) in determining 

a single-employer plan’s variable-rate 

premium. Pursuant to the Pension 

Funding Equity Act of 2004, for 

premium payment years beginning in 

2004 or 2005, the required interest rate 

is the ‘‘applicable percentage’’

(currently 85 percent) of the annual rate 

of interest determined by the Secretary 

of the Treasury on amounts invested 

conservatively in long-term investment 

grade corporate bonds for the month 

preceding the beginning of the plan year 

for which premiums are being paid. 

Thus, the required interest rate to be 

used in determining variable-rate 

premiums for premium payment years 

beginning in October 2004 is 4.79 

percent (i.e., 85 percent of the 5.63 

percent composite corporate bond rate 

for September 2004 as determined by 

the Treasury). 

The following table lists the required 

interest rates to be used in determining 

variable-rate premiums for premium 

payment years beginning between 

November 2003 and October 2004. Note 

that the required interest rates for 

premium payment years beginning in 

November through December 2003 were 

determined under the Job Creation and 

Worker Assistance Act of 2002, and that 

the required interest rates for premium 

payment years beginning in January 

through October 2004 were determined 

under the Pension Funding Equity Act 

of 2004.

For premium payment years 

beginning in: 

The required interest rate is: 

November 2003* ....................... 5.16 

December 2003* ....................... 5.12 

January 2004** ......................... 4.94 

February 2004** ....................... 4.83 

March 2004** ............................ 4.79 

April 2004** ............................... 4.62 

May 2004** ............................... 4.98 

June 2004** .............................. 5.26 

July 2004** ............................... 5.25 

August 2004** ........................... 5.10 

September 2004** .................... 4.95 

October 2004** ......................... 4.79 

* The required interest rates for premium 

payment years beginning in November 

through December 2003 were determined 

under the Job Creation and Worker Assistance Act of 2002. 

** The required interest rates for premium 

payment years beginning in January through 

October 2004 were determined under the Pension Funding Equity Act of 2004. 

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 

fourth quarter (October through 

December) of 2004, as announced by the 

IRS, is 5 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) 

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

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

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

4/1/00 ................ 3/31/01 9 

4/1/01 ................ 6/30/01 8 

7/1/01 ................ 12/31/01 7 

1/1/02 ................ 12/31/02 6 

1/1/03 ................ 9/30/03 5 

10/1/03 .............. 3/31/04 4 

4/1/04 ................ 6/30/04 5 

7/1/04 ................ 9/30/04 4 

10/1/04 .............. 12/31/04 5 

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 fourth 

quarter (October through December) of 

2004 (i.e., the rate reported for 

September 15, 2004) is 4.50 percent. 

The following table lists the 

withdrawal liability underpayment and 

overpayment interest rates for the 

specified time periods:

From— Through— Interest rate 

(percent) 

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 

7/1/00 ................ 3/31/01 9.50 

4/1/01 ................ 6/30/01 8.50 

7/1/01 ................ 9/30/01 7.00 

10/1/01 .............. 12/31/01 6.50 

1/1/02 ................ 12/31/02 4.75 

1/1/03 ................ 9/30/03 4.25 

10/1/03 .............. 9/30/04 4.00 

10/1/04 .............. 12/31/04 4.50 

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 

61272 Federal Register / Vol. 69, No. 199 / Friday, October 15, 2004 / Notices 

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

3The O-Strip is an exchange-traded fund (‘‘ETF’’) 

share that seeks to provide investment results 

corresponding to the newly-launched Standard & 

Poor’s (‘‘S&P’’) 500 O-Strip Index. The S&P 500 OStrip Index consists of all the individual S&P 500 

component securities that are primarily traded in 

the over-the-counter market. The Index currently 

consists of approximately 75 securities, 

representing approximately 15% of the market 

capitalization of the S&P 500 Index.

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044). The interest assumptions 

applicable to valuation dates in 

November 2004 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 12th day 

of October 2004. 

Joseph H. Grant, 

Deputy Executive Director and Chief 

Operating Officer, Pension Benefit Guaranty 

Corporation.

[FR Doc. 04–23181 Filed 10–14–04; 8:45 am] 

BILLING CODE 7708–01–P

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Pub. L. 94–409, that the 

Securities and Exchange Commission 

will hold the following meeting during 

the week of October 18, 2004: 

A Closed Meeting will be held on 

Tuesday, October 19, 2004 at 10 a.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters may also be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), (8), (9)(B), and 

(10) and 17 CFR 200.402(a)(3), (5), (7), 

(8), 9(ii) and (10), permit consideration 

of the scheduled matters at the Closed 

Meeting. 

Commissioner Glassman, as duty 

officer, voted to consider the items 

listed for the closed meeting in closed 

session. 

The subject matter of the Closed 

Meeting scheduled for Tuesday, October 

19, 2004 will be: 

Formal orders of investigations; 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; 

Regulatory matters regarding financial 

institutions; and 

Amici consideration. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. For further 

information and to ascertain what, if 

any, matters have been added, deleted 

or postponed, please contact: 

The Office of the Secretary at (202) 

942–7070.

Dated: October 12, 2004. 

Jonathan G. Katz, 

Secretary.

[FR Doc. 04–23199 Filed 10–12–04; 4:09 pm] 

BILLING CODE 8010–01–P

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–50500; File No. SR–Amex–

2004–80] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by the 

American Stock Exchange LLC 

Relating to Transaction Fees in 

Connection With the SPDR O-Strip 

October 7, 2004. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b-4 thereunder, 2

notice is hereby given that on October 

1, 2004, the American Stock Exchange 

LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the Exchange. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons.

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to revise 

transaction fees for specialists and 

registered options traders (‘‘ROTs’’) in 

connection with transactions in the 

SPDR O-Strip (‘‘O-Strip’’). 3 The text of 

the revised fee schedule is available at 

the Office of the Secretary, Amex, and 

at the Commission’s Public Reference 

Room.

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of, and basis for, 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. Amex 

has prepared summaries, set forth in 

sections A, B, and C below, of the most 

significant aspects of such statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Amex recently launched the trading 

of the O-Strip on the Exchange. 

Transaction charges for specialists, 

ROTs, broker-dealers, and customers 

have accordingly been billed at current 

rates existing for ETFs pursuant to the 

existing fee schedule in effect. The 

Exchange now proposes, in connection 

with the O-Strip, to charge specialists 

and ROTs as set forth below in the 

transaction fee schedule:

TRANSACTION CHARGES FOR THE O-STRIP

Specialists Registered traders 

Per Share Side .................................................. $0.0050 ($.50 per 100 shares) ........................ $0.0050 ($.50 per 100 shares) 

Subject to the following per trade maximums: .. $300 (60,000 shares) ....................................... $300 (60,000 shares) 

Transaction charges for specialists are capped at $400,000 per month per specialist unit 

Transaction fees for off-floor brokerdealers and customers will remain as set forth in the existing ETF fee schedule. 

These charges are $0.006 per share 

($0.60 per 100 shares), capped at $100 

per trade (16,667 shares). Accordingly,