Federal Register / Vol. 64, No. 49 / Monday, March 15, 1999 /Rules and Regulations 12745

13020, 3 CFR, 1996 Comp. p. 219; E.O.

13026, 3 CFR, 1996 Comp., p. 228; Notice of

August 13, 1997 (62 FR 43629, August 15,

1997); Notice of August 17, 1998 (63 FR

55121, August 17, 1998).

PART 774—[CORRECTED]

Supplement No. 1 to part 774—the

Commerce Control List—[Corrected]

2. In Supplement No. 1 to part 774

(the Commerce Control List), Category

4—Computers, Export Control

Classification Numbers (ECCNs) 4D001

and 4E001 are amended by revising the

License Requirements sections to read

as follows:

4D001 ‘‘Software’’ Specially Designed

or Modified for the ‘‘Development’’,

‘‘Production’’ or ‘‘Use’’ of Equipment or

‘‘Software’’ Controlled by 4A001 to

4A004, or 4D (Except 4D980, 4D993 or

4D994)

License Requirements

Reason for Control: NS, MT, CC, AT,

NP, XP

Control(s) Country chart

NS applies to ‘‘software’’ for

commodities or software

controlled by 4A001 to

4A004, 4D001 to 4D003.

NS Column 1

MT applies to ‘‘software’’ for

equipment controlled by

4A001 to 4A003 for MT reasons.

MT Column

1

CC applies to ‘‘software’’ for

for computerized finger-print

equipment controlled by

4A003 for CC reasons.

CC Column

1

AT applies to entire entry ....... AT Column 1

NP applies to ‘‘software’’ for computers

with a CTP greater than 2,000 Mtops, unless

a License Exception is available. See

§ 742.3(b) of the EAR for information on

applicable licensing review policies.

XP applies to ‘‘software’’ for computers

with a CTP greater than 2,000 Mtops, unless

a License Exception is available. XP controls

vary according to destination and end-user

and end-use. See § 742.12 of the EAR for

additional information.

License Requirement Notes: See § 743.1 of

the EAR for reporting requirements for

exports under License Exceptions.

* * * * *

4E001 ‘‘Technology’’ According to the

General Technology Note, for the

‘‘Development’’, ‘‘Production’’ or ‘‘Use’’

of Equipment or ‘‘Software’’ Controlled

by 4A (Except 4A980, 4A993 or 4A994)

or 4D (Except 4D980, 4D993, 4D994)

License Requirements

Reason for Control: NS, MT, CC, AT, NP,

XP

Control(s) Country

Chart

NS applies to ‘‘technology’’ for

commodities or software

controlled by 4A001 to

4A004, 4D001 to 4D003.

NS Column 1

MT applies to ‘‘technology’’ for

items controlled by 4A001 to

4A003 4A101, 4D001,

4D102 or 4D002 for MT reasons.

MT Column

1

CC applies to ‘‘technology’’ for

computerized finger-print

equipment controlled by

4A003 for CC reasons.

CC Column

1

AT applies to entire entry ....... AT Column 1

NP applies to ‘‘technology’’ for computers

with a CTP greater than 2,000 Mtops, unless

a License Exception is available. See

§ 742.3(b) of the EAR for information on

applicable licensing review policies.

XP applies to ‘‘technology’’ for computers

with a CTP greater than 2,000 Mtops, unless

a License Exception is available. XP controls

vary according to destination and end-user

and end-use. See § 742.12 of the EAR for

additional information.

License Requirement Notes: See § 743.1 of

the EAR for reporting requirements for

exports under License Exceptions.

* * * * *

Dated: March 9, 1999.

Eileen M. Albanese,

Director, Office of Exporter Services.

[FR Doc. 99–6269 Filed 3–12–99; 8:45 am]

BILLING CODE 3510–33–P

PENSION BENEFIT GUARANTY

CORPORATION

29 CFR Part 4044

Allocation of Assets in SingleEmployer Plans; Interest Assumptions

for Valuing Benefits

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Final rule.

SUMMARY: The Pension Benefit Guaranty

Corporation’s regulation on Allocation

of Assets in Single-Employer Plans

prescribes interest assumptions for

valuing benefits under terminating

single-employer plans. This final rule

amends the regulation to adopt interest

assumptions for plans with valuation

dates in April 1999.

EFFECTIVE DATE: April 1, 1999.

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: The

PBGC’s regulation on Allocation of

Assets in Single-Employer Plans (29

CFR part 4044) prescribes actuarial

assumptions for valuing plan benefits of

terminating single-employer plans

covered by title IV of the Employee

Retirement Income Security Act of 1974.

Among the actuarial assumptions

prescribed in part 4044 are interest

assumptions. These interest

assumptions are intended to reflect

current conditions in the financial and

annuity markets.

Two sets of interest assumptions are

prescribed, one set for the valuation of

benefits to be paid as annuities and one

set for the valuation of benefits to be

paid as lump sums. This amendment

adds to appendix B to part 4044 the

annuity and lump sum interest

assumptions for valuing benefits in

plans with valuation dates during April

1999.

For annuity benefits, the interest

assumptions will be 5.60 percent for the

first 20 years following the valuation

date and 5.25 percent thereafter. The

annuity interest assumptions represent

an increase (from those in effect for

March 1999) of 0.30 percent for the first

20 years following the valuation date

and are otherwise unchanged. For

benefits to be paid as lump sums, the

interest assumptions to be used by the

PBGC will be 4.25 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. The lump sum interest

assumptions represent an increase (from

those in effect for March 1999) of 0.25

percent for the period during which a

benefit is in pay status and are

otherwise unchanged.

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 of

benefits in plans with valuation dates

during April 1999, 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.
12746 Federal Register / Vol. 64, No. 49 / Monday, March 15, 1999 /Rules and Regulations

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 4044

Pension insurance, Pensions.

In consideration of the foregoing, 29

CFR part 4044 is amended as follows:

PART 4044—ALLOCATION OF

ASSETS IN SINGLE-EMPLOYER

PLANS

1. The authority citation for part 4044

continues to read as follows:

Authority: 29 U.S.C. 1301(a), 1302(b)(3),

1341, 1344, 1362.

2. In appendix B, a new entry is

added to Table I, and Rate Set 66 is

added to Table II, as set forth below.

The introductory text of each table is

republished for the convenience of the

reader and remains unchanged.

Appendix B to Part 4044—Interest

Rates Used to Value Annuities and

Lump Sums

TABLE I.—ANNUITY VALUATIONS

[This table sets forth, for each indicated calendar month, the interest rates (denoted by i1, i2, * * * , and referred to generally as it) assumed to

be in effect between specified anniversaries of a valuation date that occurs within that calendar month; those anniversaries are specified in

the columns adjacent to the rates. The last listed rate is assumed to be in effect after the last listed anniversary date.]

For valuation dates occurring in the month—

The values of it are:

it for t = it for t = it for t =

* * * * * * *

April 1999 .......................................................................... .0560 1–20 .0525 >20 N/A N/A

TABLE II.—LUMP SUM VALUATIONS

[In using this table: (1) For benefits for which the participant or beneficiary is entitled to be in pay status on the valuation date, the immediate annuity rate shall apply; (2) For benefits for which the deferral period is y years (where y is an integer and 0 < y ≤ n1), interest rate i1 shall

apply from the valuation date for a period of y years, and thereafter the immediate annuity rate shall apply; (3) For benefits for which the deferral period is y years (where y is an integer and n1 < y ≤ n1 + n2), interest rate i2 shall apply from the valuation date for a period of y—n1

years, interest rate i1 shall apply for the following n1 years, and thereafter the immediate annuity rate shall apply; (4) For benefits for which

the deferral period is y years (where y is an integer and y ≤ n1 + n2), interest rate i3 shall apply from the valuation date for a period of y—

n1—n2 years, interest rate i2 shall apply for the following n2 years, interest rate i1 shall apply for the following n1 years, and thereafter the immediate annuity rate shall apply.]

Rate set

For plans

with a valuation date

Immediate annuity rate

(percent)

Deferred annuities (percent)

On or after Before i1 i2 i3 n1 n2

* * * * * * *

66 ...................................... 04–1–99 05–1–99 4.25 4.00 4.00 4.00 7 8

Issued in Washington, DC, on this 8th day

of March 1999.

David M. Strauss

Executive Director

Pension Benefit Guaranty Corporation

[FR Doc. 99–6126 Filed 3–12–99; 8:45 am]

BILLING CODE 7708–01–P

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 165

[CGD01–98–151]

RIN 2115–AE84

Regulated Navigation Area: Navigable

Waters Within the First Coast Guard

District

AGENCY: Coast Guard, DOT.

ACTION: Interim rule with request for

comments.

SUMMARY: The Coast Guard amends the

Regulated Navigation Area (RNA)

within the navigable waters of the First

Coast Guard District with respect to the

provisions governing the positive

control of barges. The Interim Rule

allows the Captain of the Port (COTP) to

authorize exemptions to the positive

control provisions established in the

Final Rule that became effective on

January 29, 1999, and also reopens the

docket for further comments on the

positive control provisions and the

effect of this Interim Rule on those

provisions. The Interim Rule provides

additional opportunities for small

businesses affected by the RNA both to

carry on their businesses and to submit

comments on the impact of the RNA.

The Interim Rule also allows the Coast

Guard an additional opportunity to

analyze the impact of the RNA on small

business entities.

DATES: Effective Date: The Interim Rule

is effective March 15, 1999.

Comment Date: Comments are due on

or before June 14, 1999.

Publc Meeting Date: A public meeting

will be held on April 16, 1999, from 10

a.m. to 2 p.m.

ADDRESSES: Public Meeting: The Coast

Guard will conduct the public meeting

at the U.S. Navy/Marine Corps Reserve

Center, Classroom 5, 30 Woodward

Ave., New Haven, Connecticut, 06512.

Comments: You may mail or deliver

comments to Commander (m), First

Coast Guard District, 408 Atlantic

Avenue, Boston, MA 02210–3350. The

Commander, First Coast Guard District,

maintains the public docket for this

rulemaking. Comments, and documents

as indicated in this preamble, will

become part of this docket and will be

available for inspection or copying at

the same address between 8 a.m. and 3

p.m., Monday through Friday, except

federal holidays.

FOR FURTHER INFORMATION CONTACT:

Lieutenant Rich Klein, c/o Commander

(m), First Coast Guard District, 408

Atlantic Avenue, Boston, MA 02210–

3350; telephone 617–223–8243.

SUPPLEMENTARY INFORMATION: