This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL

REGISTER issue of each week.

Rules and Regulations Federal Register

48855 

Vol. 77, No. 158 

Wednesday, August 15, 2012 

1Appendix B to PBGC’s regulation on Allocation 

of Assets in Single-Employer Plans (29 CFR part 

4044) prescribes interest assumptions for valuing 

benefits under terminating covered single-employer 

plans for purposes of allocation of assets under 

ERISA section 4044. Those assumptions are 

updated quarterly. 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans to 

prescribe interest assumptions under 

the regulation for valuation dates in 

September 2012. The interest 

assumptions are used for paying 

benefits under terminating singleemployer plans covered by the pension 

insurance system administered by 

PBGC. 

DATES: Effective September 1, 2012. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion (Klion.Catherine@

pbgc.gov), Manager, Regulatory and 

Policy Division, 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: PBGC’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR part 4022) prescribes actuarial 

assumptions—including interest 

assumptions—for paying plan benefits 

under terminating single-employer 

plans covered by title IV of the 

Employee Retirement Income Security 

Act of 1974. The interest assumptions in 

the regulation are also published on 

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

PBGC uses the interest assumptions in 

Appendix B to Part 4022 to determine 

whether a benefit is payable as a lump 

sum and to determine the amount to 

pay. Appendix C to Part 4022 contains 

interest assumptions for private-sector 

pension practitioners to refer to if they 

wish to use lump-sum interest rates 

determined using PBGC’s historical 

methodology. Currently, the rates in 

Appendices B and C of the benefit 

payment regulation are the same. 

The interest assumptions are intended 

to reflect current conditions in the 

financial and annuity markets. 

Assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates the 

benefit payments interest assumptions 

for September 2012.1

The September 2012 interest 

assumptions under the benefit payments 

regulation will be 0.75 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. In comparison with the interest 

assumptions in effect for August 2012, 

these interest assumptions represent a 

decrease of 0.25 percent in the 

immediate annuity rate and are 

otherwise unchanged. 

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 current 

market conditions as accurately as 

possible. 

Because of the need to provide 

immediate guidance for the payment of 

benefits under plans with valuation 

dates during September 2012, PBGC 

finds that good cause exists for making 

the assumptions set forth in this 

amendment effective less than 30 days 

after publication. 

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 in 29 CFR Part 4022 

Employee benefit plans, Pension 

insurance, Pensions, Reporting and 

recordkeeping requirements. 

In consideration of the foregoing, 29 

CFR part 4022 is 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 

227, as set forth below, is added to the 

table. 

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

*******

227 9–1–12 10–1–12 0.75 4.00 4.00 4.00 7 8 


srobinson on DSK4SPTVN1PROD with RULES
48856 Federal Register / Vol. 77, No. 158 / Wednesday, August 15, 2012 / Rules and Regulations 

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

227, as set forth below, is added to the 

table. 

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

*******

227 9–1–12 10–1–12 0.75 4.00 4.00 4.00 7 8 

Dated: Issued in Washington, DC, on this 

7th day of August 2012. 

Laricke Blanchard, 

Deputy Director for Policy, Pension Benefit 

Guaranty Corporation. 

[FR Doc. 2012–20030 Filed 8–14–12; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket No. USCG–2012–0380] 

Safety Zones; Annual Fireworks Event 

in the Captain of the Port Detroit Zone 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of enforcement of 

regulation. 

SUMMARY: The Coast Guard will enforce 

a safety zone for an annual fireworks 

event in the Captain of the Port Detroit 

zone from 9:15 p.m. to 10 p.m. on 

August 18, 2012. This action is 

necessary and intended to ensure safety 

of life on the navigable waters 

immediately prior to, during, and 

immediately after fireworks events. 

During the aforementioned period, the 

Coast Guard will enforce restrictions 

upon, and control movement of, vessels 

in a specified area immediately prior to, 

during, and immediately after fireworks 

events. During the enforcement period, 

no person or vessel may enter the safety 

zone without permission of the Captain 

of the Port. 

DATES: The regulations in 33 CFR 

165.941 will be enforced from 9:15 p.m. 

to 10 p.m. on August 18, 2012. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this notice, call 

or email LT Adrian Palomeque, 

Prevention, U.S. Coast Guard Sector 

Detroit, 110 Mount Elliot Ave., Detroit, 

MI 48207; telephone (313) 568–9508, 

email Adrian.F.Palomeque@uscg.mil. 

SUPPLEMENTARY INFORMATION: The Coast 

Guard will enforce the safety zone listed 

in 33 CFR 165.941, Safety Zones; 

Annual Fireworks Events in the Captain 

of the Port Detroit Zone, at the following 

date and times for the following event: 

(1) Cheeseburger Festival Fireworks, 

Caseville, MI. The safety zone listed in 

33 CFR 165.941(a)(11) will be enforced 

from 9:15 p.m. to 10 p.m. on August 18, 

2012. In the case of inclement weather 

on August 18, 2012, this safety zone will 

be enforced from 9:15 p.m. to 10 p.m. 

on August 19, 2012. 

Under the provisions of 33 CFR 

165.23, entry into, transiting, or 

anchoring within this safety zone during 

the enforcement period is prohibited 

unless authorized by the Captain of the 

Port Detroit or his designated 

representative. Vessels that wish to 

transit through the safety zone may 

request permission from the Captain of 

the Port Detroit. Requests must be made 

in advance and approved by the Captain 

of Port before transits will be 

authorized. Approvals will be granted 

on a case by case basis. The Captain of 

the Port may be contacted via U.S. Coast 

Guard Sector Detroit on channel 16, 

VHF-FM. The Coast Guard will give 

notice to the public via Local Notice to 

Mariners and VHF radio broadcasts that 

the regulation is in effect. 

This notice is issued under authority 

of 33 CFR 165.23 and 5 U.S.C. 552(a). 

If the Captain of the Port determines 

that this safety zone need not be 

enforced for the full duration stated in 

this notice, he or she may use a 

Broadcast Notice to Mariners to grant 

general permission to enter the safety 

zone. 

Dated: August 2, 2012. 

J.E. Ogden, 

Captain, U.S. Coast Guard, Captain of the 

Port Detroit. 

[FR Doc. 2012–20002 Filed 8–14–12; 8:45 am] 

BILLING CODE 9110–04–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket Number USCG–2012–0729] 

RIN 1625–AA00 

Safety Zone; Superior Bay, Duluth, MN 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a temporary safety zone 

encompassing a portion of the Duluth 

Harbor Basin, Northern Section, 

including the Duluth Entry. This safety 

zone is intended to help protect 

participants, event safety personnel, 

boaters and spectators during the 

Superior Man Triathlon. 

DATES: This rule is effective from 6 a.m. 

to 8:30 a.m. on August 26, 2012. 

ADDRESSES: Documents mentioned in 

this preamble are part of docket [USCG– 

2012–0729]. To view documents 

mentioned in this preamble as being 

available in the docket, go to http:// 

www.regulations.gov, type the docket 

number in the ‘‘SEARCH’’ box and click 

‘‘SEARCH.’’ Click on Open Docket 

Folder on the line associated with this 

rulemaking. You may also visit the 

Docket Management Facility in Room 

W12–140 on the ground floor of the 

Department of Transportation West 

Building, 1200 New Jersey Avenue SE., 

Washington, DC 20590, between 9 a.m. 

and 5 p.m., Monday through Friday, 

except Federal holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this rule, call or 

email Lieutenant Judson A Coleman, 

Marine Safety Unit Duluth U.S. Coast 

Guard; telephone (218) 720–5286 ext 

111, email Judson.A.Coleman@uscg.mil. 

If you have questions on viewing or 

submitting material to the docket, call 

Renee V. Wright, Program Manager, 

Docket Operations, telephone (202) 

366–9826. 


srobinson on DSK4SPTVN1PROD with RULES