69480 Federal Register / Vol. 71, No. 231 / Friday, December 1, 2006 / Rules and Regulations 

been drafted in accordance with the 

principles in Executive Order 12866, 

Section 1(b). This rule has been 

determined to be a significant regulatory 

action. Therefore, this action has been 

reviewed by the Office of Management 

and Budget. This rule merely clarifies 

existing regulations regarding the 

registration by individual practitioners 

conducting business in more than one 

State. 

Executive Order 12988 

This regulation meets the applicable 

standards set forth in Sections 3(a) and 

3(b)(2) of Executive Order 12988 Civil 

Justice Reform. 

Executive Order 13132 

This rulemaking does not preempt or 

modify any provision of State law; nor 

does it impose enforcement 

responsibilities on any State; nor does it 

diminish the power of any State to 

enforce its own laws. Accordingly, this 

rulemaking does not have federalism 

implications warranting the application 

of Executive Order 13132. 

Paperwork Reduction Act 

This rulemaking merely clarifies that 

DEA registration must be obtained by 

practitioners for each State in which a 

practitioner conducts business, except 

under certain specific circumstances. 

While it is possible that the amendment 

of the regulations could cause certain 

persons who were not previously 

registered in a State to register with 

DEA, it is not possible for DEA to 

determine how many persons might be 

affected by this circumstance. It is 

important to note that this rule serves 

merely as a clarification. The Controlled 

Substances Act, which establishes the 

requirement of registration, has not been 

changed, and the requirement of 

registration addressed by this 

rulemaking remains consistent. 

Therefore, persons who register as a 

result of publication of this clarification 

should have been previously registered 

with DEA, but were not registered due 

to confusion regarding registration 

requirements. Thus, at this time, as DEA 

is not able to determine the impact of 

this rulemaking on the registrant 

population, DEA will make any 

necessary revisions to the affected 

information collection at the time of 

renewal of the collection. 

Unfunded Mandates Reform Act of 1995 

This rule will not result in the 

expenditure by State, local, and tribal 

governments, in the aggregate, or by the 

private sector, of $118,000,000 or more 

in any one year, and will not 

significantly or uniquely affect small 

governments. Therefore, no actions are 

deemed necessary under the provisions 

of the Unfunded Mandates Reform Act 

of 1995. 

Congressional Review Act 

This rule is not a major rule as 

defined by Section 804 of the Small 

Business Regulatory Enforcement 

Fairness Act of 1996 (Congressional 

Review Act). This rule will not result in 

an annual effect on the economy of 

$100,000,000 or more; a major increase 

in costs or prices; or significant adverse 

effects on competition, employment, 

investment, productivity, innovation, or 

on the ability of United States-based 

companies to compete with foreignbased companies in domestic and 

export markets. 

List of Subjects in 21 CFR Part 1301 

Administrative practice and 

procedure, Drug traffic control, Security 

measures. 

■ For the reasons set forth above, 21 

CFR part 1301 is amended as follows: 

PART 1301—REGISTRATION OF 

MANUFACTURERS, DISTRIBUTORS, 

AND DISPENSERS OF CONTROLLED 

SUBSTANCES 

■ 1. The authority citation for part 1301 

continues to read as follows: 

Authority: 21 U.S.C. 821, 822, 823, 824, 

871(b), 875, 877, 951, 952, 953, 956, 957. 

■ 2. Section 1301.12 is amended by 

revising paragraph (b)(3) to read as 

follows: 

§ 1301.12 Separate registrations for 

separate locations. 

* * * * * 

(b) * * * 

(3) An office used by a practitioner 

(who is registered at another location in 

the same State or jurisdiction of the 

United States) where controlled 

substances are prescribed but neither 

administered nor otherwise dispensed 

as a regular part of the professional 

practice of the practitioner at such 

office, and where no supplies of 

controlled substances are maintained. 

* * * * * 

Dated: October 21, 2006. 

Joseph T. Rannazzisi, 

Deputy Assistant Administrator, Office of 

Diversion Control. 

[FR Doc. E6–20334 Filed 11–30–06; 8:45 am] 

BILLING CODE 4410–09–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This rule amends Appendix D 

to the Pension Benefit Guaranty 

Corporation’s regulation on Benefits 

Payable in Terminated Single-Employer 

Plans by adding the maximum 

guaranteeable pension benefit that may 

be paid by the PBGC with respect to a 

plan participant in a single-employer 

pension plan that terminates in 2007. 

The amendment is necessary because 

the maximum guarantee amount 

changes each year, based on changes in 

the contribution and benefit base under 

section 230 of the Social Security Act. 

The effect of the amendment is to advise 

plan administrators, participants and 

beneficiaries of the increased maximum 

guarantee amount for 2007. 

DATES: Effective Date: January 1, 2007. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion, 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: Section 

4022(b) of the Employee Retirement 

Income Security Act of 1974 provides 

for certain limitations on benefits 

guaranteed by the PBGC in terminating 

single-employer pension plans covered 

under Title IV of ERISA. One of the 

limitations, set forth in section 

4022(b)(3)(B), is a dollar ceiling on the 

amount of the monthly benefit that may 

be paid to a plan participant (in the 

form of a life annuity beginning at age 

65) by the PBGC. The ceiling is equal to 

‘‘$750 multiplied by a fraction, the 

numerator of which is the contribution 

and benefit base (determined under 

section 230 of the Social Security Act) 

in effect at the time the plan terminates 

and the denominator of which is such 

contribution and benefit base in effect in 

calendar year 1974 [$13,200].’’ This 

formula is also set forth in § 4022.22(b) 

of the PBGC’s regulation on Benefits 

Payable in Terminated Single-Employer 

Plans (29 CFR part 4022). Appendix D 

to Part 4022 lists, for each year 

beginning with 1974, the maximum 

guaranteeable benefit payable by the 


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Federal Register / Vol. 71, No. 231 / Friday, December 1, 2006 / Rules and Regulations 69481 

PBGC to participants in single-employer 

plans that have terminated in that year. 

Section 230(d) of the Social Security 

Act (42 U.S.C. 430(d)) provides special 

rules for determining the contribution 

and benefit base for purposes of ERISA 

section 4022(b)(3)(B). Each year the 

Social Security Administration 

determines, and notifies the PBGC of, 

the contribution and benefit base to be 

used by the PBGC under these 

provisions, and the PBGC publishes an 

amendment to Appendix D to Part 4022 

to add the guarantee limit for the 

coming year. 

The PBGC has been notified by the 

Social Security Administration that, 

under section 230 of the Social Security 

Act, $72,600 is the contribution and 

benefit base that is to be used to 

calculate the PBGC maximum 

guaranteeable benefit for 2007. 

Accordingly, the formula under section 

4022(b)(3)(B) of ERISA and 29 CFR 

4022.22(b) is: $750 multiplied by 

$72,600/$13,200. Thus, the maximum 

monthly benefit guaranteeable by the 

PBGC in 2007 is $4,125.00 per month in 

the form of a life annuity beginning at 

age 65. This amendment updates 

Appendix D to Part 4022 to add this 

maximum guaranteeable amount for 

plans that terminate in 2007. (If a 

benefit is payable in a different form or 

begins at a different age, the maximum 

guaranteeable amount is the actuarial 

equivalent of $4,125.00 per month.) 

General notice of proposed 

rulemaking is unnecessary. The 

maximum guaranteeable benefit is 

determined according to the formula in 

section 4022(b)(3)(B) of ERISA, and 

these amendments make no change in 

its method of calculation but simply list 

2007 maximum guaranteeable benefit 

amounts for the information of the 

public. 

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 

regulation, the Regulatory Flexibility 

Act of 1980 does not apply (5 U.S.C. 

601(2)). 

List of Subjects in 29 CFR Part 4022 

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. Appendix D to part 4022 is 

amended by adding a new entry to the 

end of the table to read as follows. The 

introductory text is reproduced for the 

convenience of the reader and remains 

unchanged. 

Appendix D to Part 4022—Maximum 

Guaranteeable Monthly Benefit 

The following table lists by year the 

maximum guaranteeable monthly benefit 

payable in the form of a life annuity 

commencing at age 65 as described by 

§ 4022.22(b) to a participant in a plan that 

terminated in that year: 

Year 

Maximum 

guaranteeable 

monthly 

benefit 

*****

2007 ...................................... $4,125.00 

Issued in Washington, DC, this 17th day of 

November, 2006. 

Vincent K. Snowbarger, 

Interim Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E6–20389 Filed 11–30–06; 8:45 am] 

BILLING CODE 7709–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4044 

Allocation of Assets in SingleEmployer Plans; Valuation of Benefits 

and Assets; Expected Retirement Age 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This rule amends the Pension 

Benefit Guaranty Corporation’s 

regulation on Allocation of Assets in 

Single-Employer Plans by substituting a 

new table that applies to any plan being 

terminated either in a distress 

termination or involuntarily by the 

PBGC with a valuation date falling in 

2007, and is used to determine expected 

retirement ages for plan participants. 

This table is needed in order to compute 

the value of early retirement benefits 

and, thus, the total value of benefits 

under the plan. 

DATES: Effective Date: January 1, 2007. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion, 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: The 

PBGC’s regulation on Allocation of 

Assets in Single-Employer Plans (29 

CFR part 4044) sets forth (in subpart B) 

the methods for valuing plan benefits of 

terminating single-employer plans 

covered under Title IV of the Employee 

Retirement Income Security Act of 1974. 

Under ERISA section 4041(c), 

guaranteed benefits and benefit 

liabilities under a plan that is 

undergoing a distress termination must 

be valued in accordance with part 4044, 

subpart B. In addition, when the PBGC 

terminates an underfunded plan 

involuntarily pursuant to ERISA Section 

4042(a), it uses the subpart B valuation 

rules to determine the amount of the 

plan’s underfunding. 

Under § 4044.51(b) of the asset 

allocation regulation, early retirement 

benefits are valued based on the annuity 

starting date, if a retirement date has 

been selected, or the expected 

retirement age, if the annuity starting 

date is not known on the valuation date. 

Sections 4044.55 through 4044.57 set 

forth rules for determining the expected 

retirement ages for plan participants 

entitled to early retirement benefits. 

Appendix D of part 4044 contains tables 

to be used in determining the expected 

early retirement ages. 

Table I in appendix D (Selection of 

Retirement Rate Category) is used to 

determine whether a participant has a 

low, medium, or high probability of 

retiring early. The determination is 

based on the year a participant would 

reach ‘‘unreduced retirement age’’ (i.e., 

the earlier of the normal retirement age 

or the age at which an unreduced 

benefit is first payable) and the 

participant’s monthly benefit at 

unreduced retirement age. The table 

applies only to plans with valuation 

dates in the current year and is updated 

annually by the PBGC to reflect changes 

in the cost of living, etc. 

Tables II–A, II–B, and II–C (Expected 

Retirement Ages for Individuals in the 

Low, Medium, and High Categories 

respectively) are used to determine the 

expected retirement age after the 

probability of early retirement has been 

determined using Table I. These tables 

establish, by probability category, the 

expected retirement age based on both 


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