58544 Federal Register / Vol. 74, No. 218 / Friday, November 13, 2009 / Rules and Regulations 

received a presumptive parole date 

under the parole determination that 

preceded the hearing under this 

paragraph, the prisoner shall not forfeit 

the presumptive parole date unless the 

presumptive date is rescinded for 

institutional misconduct, new criminal 

conduct, or for new adverse 

information. 

(6) Decisions resulting from hearings 

under this paragraph may not be 

appealed to the Commission. 

Dated: November 6, 2009. 

Isaac Fulwood, 

Chairman, United States Parole Commission. 

[FR Doc. E9–27308 Filed 11–12–09; 8:45 am] 

BILLING CODE 4410–31–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 December 2009. Interest 

assumptions are also published on 

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

DATES: Effective December 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 December 2009, 

and (2) adds to Appendix C to Part 4022 

the interest assumptions for privatesector pension practitioners to refer to if 

they wish to use lump-sum interest rates 

determined using PBGC’s historical 

methodology for valuation dates during 

December 2009. 

The interest assumptions that PBGC 

will use for its own lump-sum payments 

(set forth in Appendix B to part 4022) 

will be 2.50 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. In comparison with the interest 

assumptions in effect for November 

2009, these interest assumptions 

represent an increase 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 December 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, Rate Set 

194, 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

* * * * * * * 

194 12–1–09 1–1–10 2.50 4.00 4.00 4.00 7 8 

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Federal Register / Vol. 74, No. 218 / Friday, November 13, 2009 / Rules and Regulations 58545 

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

194, 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

* * * * * * * 

194 12–1–09 1–1–10 2.50 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 5th day 

of November 2009. 

Vincent K. Snowbarger, 

Acting Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E9–27221 Filed 11–12–09; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket No. USCG–2009–0942] 

RIN 1625–AA11 

Safety Zone and Regulated Navigation 

Area, Chicago Sanitary and Ship 

Canal, Romeoville, IL 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a safety zone and regulated 

navigation area on the Chicago Sanitary 

and Ship Canal near Romeoville, IL. 

This temporary final rule places 

navigational and operational restrictions 

on all vessels transiting the navigable 

waters located adjacent to and over the 

U.S. Army Corps of Engineers’ (USACE) 

electrical dispersal fish barrier system. 

DATES: This temporary final rule is 

effective from 5 p.m. on November 13, 

2009, until 5 p.m. on November 20, 

2009. This temporary final rule is 

enforceable with actual notice by Coast 

Guard personnel beginning October 16, 

2009. 

ADDRESSES: Documents indicated in this 

preamble as being available in the 

docket are part of docket USCG–2009– 

0942 and are available online by going 

to http://www.regulations.gov, inserting 

USCG–2009–0942 in the ‘‘Keyword’’ 

box, and then clicking ‘‘Search.’’ They 

are also available for inspection or 

copying at 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. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this temporary 

final rule, call CDR Tim Cummins, 

Deputy Prevention Division, Ninth 

Coast Guard District, telephone 216– 

902–6045. If you have questions on 

viewing the docket, call Renee V. 

Wright, Program Manager, Docket 

Operations, telephone 202–366–9826. 

SUPPLEMENTARY INFORMATION: 

Regulatory Information 

The Coast Guard is issuing this 

temporary final rule without prior 

notice and opportunity to comment 

pursuant to authority under section 4(a) 

of the Administrative Procedure Act 

(APA) (5 U.S.C. 553(b)). This provision 

authorizes an agency to issue a rule 

without prior notice and opportunity to 

comment when the agency for good 

cause finds that those procedures are 

‘‘impracticable, unnecessary, or contrary 

to the public interest.’’ Under 5 U.S.C. 

553(b)(B), the Coast Guard finds that 

good cause exists for not publishing a 

notice of proposed rulemaking (NPRM) 

with respect to this rule because the 

U.S. Army Corps of Engineers (USACE) 

made the decision, without time for a 

proper notice period, to permanently 

increase the voltage of the fish barrier to 

two-volts per inch in response to data 

which indicates that Asian carp are 

closer to the Great Lakes waterway 

system than originally thought. The 

electric current in the water created by 

the electrical dispersal barriers coupled 

with the uncertainty of the effects of the 

increased voltage poses a safety risk to 

commercial vessels and recreational 

boaters who transit the area. Therefore, 

it would be against the public interest 

to delay the issuing of this rule. 

Under 5 U.S.C. 553(d)(3), the Coast 

Guard finds that good cause exists for 

making this rule effective less than 30 

days after publication in the Federal 

Register because of the safety risk to 

commercial vessels and recreational 

boaters who transit the area. The 

following discussion and the 

Background and Purpose section below 

provide additional support of the Coast 

Guard’s determination that good cause 

exists for not publishing a NPRM and 

for making this rule effective less than 

30 days after publication. 

In 2002, the USACE energized a 

demonstration electrical dispersal 

barrier located in the Chicago Sanitary 

and Ship Canal. The demonstration 

barrier, commonly referred to as 

‘‘Barrier I,’’ generates a low-voltage 

electric field (one-volt per inch) across 

the canal, which connects the Illinois 

River to Lake Michigan. Barrier I was 

built to block the passage of aquatic 

nuisance species, such as Asian carp, 

and prevent them from moving between 

the Mississippi River basin and Great 

Lakes via the canal. In 2006, the USACE 

completed construction of a new barrier, 

‘‘Barrier IIA.’’ Because of its design, 

Barrier IIA can generate a more 

powerful electric field (up to four-volts 

per inch), over a larger area within the 

Chicago Sanitary and Ship Canal, than 

Barrier I. Testing was conducted by the 

USACE which indicated that two-volts 

per inch is the optimal voltage to deter 

aquatic nuisance species. The USACE’s 

original plan was to perform testing on 

the effects of the increased voltage on 

vessels passing through the fish barrier 

prior to permanently increasing the 

voltage. However, after receiving data 

that the Asian carp were closer to the 

Great Lakes than expected, the decision 

was made to immediately energize the 

barrier to two-volts per inch without 

prior testing. 

A comprehensive, independent 

analysis of Barrier IIA, conducted in 

2008 by the USACE at the one-volt per 

inch level, found a serious risk of injury 

or death to persons immersed in the 

water located adjacent to and over the 

barrier. Additionally, sparking between 

barges transiting the barrier (a risk to 

flammable cargoes) occurred at the onevolt per inch level. The Coast Guard and 

USACE developed regulations and 

safety guidelines, with stakeholder 

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