Federal Register / Vol. 74, No. 71 / Wednesday, April 15, 2009 / Rules and Regulations 17395 

PART 145—COMMISSION RECORDS 

AND INFORMATION 

■ 11. The authority citation for part 145 

continues to read as follows: 

Authority: Public Law 99–570, 100 Stat. 

3207; Public Law 89–554, 80 Stat. 383; Public 

Law 90–23, 81 Stat. 54; Public Law 98–502, 

88 Stat. 1561–1564 (5 U.S.C. 552); Sec. 

101(a), Public Law 93–463, 88 Stat. 1389 (5 

U.S.C. 4a(j)), unless otherwise noted. 

■ 12. Section 145.9 is amended by 

revising paragraph (b) to read as follows: 

§ 145.9 Petition for confidential treatment 

of information submitted to the 

Commission. 

* * * * * 

(b) Scope. The provisions of this 

section shall apply only where the 

Commission has not specified that an 

alternative procedure be utilized in 

connection with a particular study, 

report, investigation, or other matter. 

See 40.8 for procedures to be utilized in 

connection with filing information 

required to be filed pursuant to 17 CFR 

parts 40 and 41. 

* * * * * 

Issued in Washington, DC on April 3, 2009 

by the Commission. 

David Stawick, 

Secretary of the Commission. 

[FR Doc. E9–8024 Filed 4–14–09; 8:45 am] 

BILLING CODE 6351–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Valuing and Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: Pension Benefit Guaranty 

Corporation’s regulation on Benefits 

Payable in Terminated Single-Employer 

Plans prescribes interest assumptions 

for valuing and paying certain benefits 

under terminating single-employer 

plans. This final rule amends the benefit 

payments regulation to adopt interest 

assumptions for plans with valuation 

dates in May 2009. Interest assumptions 

are also published on PBGC’s Web site 

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

DATES: Effective Date: May 1, 2009. 

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: PBGC’s 

regulations prescribe actuarial 

assumptions—including interest 

assumptions—for valuing and paying 

plan benefits of terminating singleemployer plans covered by title IV of 

the Employee Retirement Income 

Security Act of 1974. The interest 

assumptions are intended to reflect 

current conditions in the financial and 

annuity markets. 

These interest assumptions are found 

in two PBGC regulations: The regulation 

on Benefits Payable in Terminated 

Single-Employer Plans (29 CFR part 

4022) and the regulation on Allocation 

of Assets in Single-Employer Plans (29 

CFR part 4044). Assumptions under the 

asset allocation regulation are updated 

quarterly; assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates only 

the assumptions under the benefit 

payments regulation. 

Two sets of interest assumptions are 

prescribed under the benefit payments 

regulation: (1) A set for PBGC to use to 

determine whether a benefit is payable 

as a lump sum and to determine lumpsum amounts to be paid by PBGC (found 

in Appendix B to Part 4022), and (2) a 

set for private-sector pension 

practitioners to refer to if they wish to 

use lump-sum interest rates determined 

using PBGC’s historical methodology 

(found in Appendix C to Part 4022). 

This amendment (1) adds to 

Appendix B to Part 4022 the interest 

assumptions for PBGC to use for its own 

lump-sum payments in plans with 

valuation dates during May 2009, and 

(2) adds to Appendix C to Part 4022 the 

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 for valuation dates during 

May 2009. 

The interest assumptions that PBGC 

will use for its own lump-sum payments 

(set forth in Appendix B to part 4022) 

will be 3.50 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. These interest assumptions 

represent an increase (from those in 

effect for April 2009) of 0.25 percent in 

the immediate annuity rate and are 

otherwise unchanged. For private-sector 

payments, the interest assumptions (set 

forth in Appendix C to part 4022) will 

be the same as those used by PBGC for 

determining and paying lump sums (set 

forth in Appendix B to part 4022). 

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 valuation 

and payment of benefits in plans with 

valuation dates during May 2009, 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, the 

entry for Rate Set 187 is added to the 

table to read as follows: 

Appendix B to Part 4022—Lump Sum 

Interest Rates For PBGC Payments 

* * * * * 


rwilkins on PROD1PC63 with RULES
17396 Federal Register / Vol. 74, No. 71 / Wednesday, April 15, 2009 / Rules and Regulations 

Rate set 

For plans with a valuation 

date Immediate 

annuity rate 

(percent) 

Deferred annuities 

(percent) 

On or after Before i 1 i 2 i 3 n 1 n 2

* * * * * * * 

187 .................................... 5–1–09 6–1–09 3.25 4.00 4.00 4.00 7 8 

■ 3. In appendix C to part 4022, the 

entry for Rate Set 187 is added to the 

table to read as follows: 

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 i 1 i 2 i 3 n 1 n 2

* * * * * * * 

187 .................................... 5–1–09 6–1–09 3.25 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 10th day 

of April 2009. 

Vincent K. Snowbarger, 

Acting Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E9–8674 Filed 4–14–09; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[USCG–2009–0234] 

Drawbridge Operation Regulations; 

Intracoastal Waterway (ICW); Albany 

Avenue, Atlantic City, NJ 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of temporary deviation 

from regulations. 

SUMMARY: The Commander, Fifth Coast 

Guard District, has issued a temporary 

deviation from the regulations 

governing the operation of the US40– 

322 Albany Avenue Bridge, at ICW mile 

70.0, across Inside Thorofare at Atlantic 

City, NJ. This deviation is necessary to 

facilitate traffic control during the 

Atlantic City Air Show. This deviation 

will cause the bridge to be maintained 

in the closed-to-navigation position for 

a brief period of time. 

DATES: This deviation is effective from 

10 a.m. to 5 p.m. on August 19, 2009. 

ADDRESSES: Documents indicated in this 

preamble as being available in the 

docket are part of docket USCG–2009– 

0234 and are available online at 

www.regulations.gov. They are also 

available for inspection or copying at 

two locations: the Docket Management 

Facility (M–30), U.S. Department of 

Transportation, West Building Ground 

Floor, Room W12–140, 1200 New Jersey 

Avenue SE, Washington, DC 20590, 

between 9 a.m. and 5 p.m., Monday 

through Friday, except Federal holidays, 

and the Commander (dpb), Fifth Coast 

Guard District, Federal Building, 1st 

Floor, 431 Crawford Street, Portsmouth, 

VA 23704–5004 between 8 a.m. and 4 

p.m., Monday through Friday, except 

Federal holidays. 

FOR FURTHER INFORMATION CONTACT: Mrs. 

Sandra S. Elliott, Bridge Management 

Specialist, Fifth Coast Guard District, at 

(757) 398–6557. 

SUPPLEMENTARY INFORMATION: 

The Greater Atlantic City Chamber of 

Commerce on behalf of the bridge 

owner, the New Jersey Department of 

Transportation, has requested a 

temporary deviation for the current 

operating regulation set out in 33 CFR 

117.733 (f) to close the US40–322 

(Albany Avenue) Bridge to navigation 

for the sole purpose of traffic control 

during the Atlantic City Air Show 

scheduled for Wednesday, August 19, 

2009, from 10 a.m. to 5 p.m. 

The US40–322 (Albany Avenue 

Bridge) at ICW mile 70.0, across Inside 

Thorofare at Atlantic City, NJ, is a lift 

drawbridge and has a vertical clearance 

in the closed position of 10 feet, above 

mean high water. The current operating 

regulation set out in 33 CFR 117.733 (f) 

requires the draw shall open on signal 

except that: Year-round from 11 p.m. to 

7 a.m. and from November 1 through 

March 31 from 3 p.m. to 11 p.m., the 

draw need only open if at least four 

hours notice is given, From June 1 

through September 30: from 9 a.m. to 4 

p.m. and from 6 p.m. to 9 p.m., the draw 

need only open on the hour and half 

hour; and from 4 p.m. to 6 p.m., the 

draw need not open. 

During the event, vessel operators 

with mast height lower than 10 feet will 

continue to be able to transit through 

the drawbridge. The Atlantic Ocean is 

an alternate route for vessels with a 

mast height greater than 10 feet. In the 

event of a maritime emergency, the 

drawbridge will be available for vessel 

openings. 

The Coast Guard will inform the users 

of the waterway through our Local and 

Broadcast Notices to Mariners of the 

closure period for the bridge so that 

vessels can arrange their transits and to 

minimize any impact caused by the 

temporary deviation. 

In accordance with 33 CFR 117.35(e), 

the drawbridge must return to its regular 

operating schedule immediately at the 

end of the designated time period. This 

deviation from the operating regulations 

is authorized under 33 CFR 117.35. 

Dated: April 1, 2009. 

Waverly W. Gregory, Jr., 

Chief, Bridge Administration Branch Fifth 

Coast Guard District. 

[FR Doc. E9–8618 Filed 4–14–09; 8:45 am] 

BILLING CODE 4910–15–P 


rwilkins on PROD1PC63 with RULES