55966 Federal Register / Vol. 75, No. 178 / Wednesday, September 15, 2010 / Rules and Regulations 

5See Release No. IC–29132 [75 FR 10060]. 

6 5 U.S.C. 553(b). 

7 5 U.S.C. 601–612. 

8 5 U.S.C. 553(d)(3). 

9 15 U.S.C. 77f, 77g, 77h, 77j, and 77s(a). 

10 15 U.S.C. 78c, 78l, 78m, 78n, 78o, 78w, and 

78ll. 

11 15 U.S.C. 77sss. 

12 15 U.S.C. 80a–8, 80a–29, 80a–30, and 80a–37. 

Commission’s recent money market 

fund reform package,5 the EDGAR 

system will be upgraded to Release 10.3 

on August 30, 2010. EDGAR Release 

10.3 will deploy new submission types 

N–MFP and N–MFP/A to facilitate the 

electronic filing of the new form. Filers 

must follow the Form N–MFP XML 

Technical Specification, available at the 

‘‘Information for EDGAR Filers’’ web 

page on the Commission’s public Web 

site (http://www.sec.gov/info/ 

edgar.shtml), to construct their Form 

N–MFP and Form N–MFP/A 

submissions via the EDGAR Filing Web 

site (https://edgarfiling.sec.gov) or by 

clicking the ‘‘Are you an EDGARLink 

filer or would you like to create a new 

Asset-Backed Securities Issuing Entity?’’ 

link from the EDGAR Portal Web site 

(http://www.portal.edgarfiling.sec.gov). 

Also being implemented in EDGAR 

Release 10.3, EDGAR will begin to 

automatically change the status of a 

Series or Class to ‘‘Inactive’’ if it has not 

been updated by filers or referenced in 

a filing in the past 375 calendar days. 

In addition, the EDGAR Filing Web 

site, EDGAR Filer Management Web site 

and EDGAR OnlineForms Web site 

Login pages now will display a message 

warning the filers that they are about to 

enter a federal computer Web site. 

The filer manual is also being revised 

to address a change made previously in 

EDGAR to disseminate the co-registrant 

information for all investment company 

notices and orders issued in connection 

with 1940 Act applications. Prior to this 

change, only the primary registrant 

information was disseminated. 

Along with adoption of the Filer 

Manual, we are amending Rule 301 of 

Regulation S–T to provide for the 

incorporation by reference into the Code 

of Federal Regulations of today’s 

revisions. This incorporation by 

reference was approved by the Director 

of the Federal Register in accordance 

with 5 U.S.C. 552(a) and 1 CFR Part 51. 

You may obtain paper copies of the 

updated Filer Manual at the following 

address: Public Reference Room, U.S. 

Securities and Exchange Commission, 

100 F Street, NE., Room 1543, 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. We will post electronic 

format copies on the Commission’s Web 

site; the address for the Filer Manual is 

http://www.sec.gov/info/edgar.shtml. 

Since the Filer Manual relates solely 

to agency procedures or practice, 

publication for notice and comment is 

not required under the Administrative 

Procedure Act (APA).6 It follows that 

the requirements of the Regulatory 

Flexibility Act 7 do not apply. 

The effective date for the updated 

Filer Manual and the rule amendments 

is September 15, 2010. In accordance 

with the APA,8 we find that there is 

good cause to establish an effective date 

less than 30 days after publication of 

these rules. The EDGAR system upgrade 

to Release 10.3 is scheduled to become 

available on August 30, 2010. The 

Commission believes that establishing 

an effective date less than 30 days after 

publication of these rules is necessary to 

coordinate the effectiveness of the 

updated Filer Manual with the system 

upgrade. 

Statutory Basis 

We are adopting the amendments to 

Regulation S–T under Sections 6, 7, 8, 

10, and 19(a) of the Securities Act of 

1933,9 Sections 3, 12, 13, 14, 15, 23, and 

35A of the Securities Exchange Act of 

1934,10 Section 319 of the Trust 

Indenture Act of 1939,11 and Sections 8, 

30, 31, and 38 of the Investment 

Company Act of 1940.12

List of Subjects in 17 CFR Part 232 

Incorporation by reference, Reporting 

and recordkeeping requirements, 

Securities. 

Text of the Amendment 

■ In accordance with the foregoing, 

Title 17, Chapter II of the Code of 

Federal Regulations is amended as 

follows: 

PART 232—REGULATION S–T— 

GENERAL RULES AND REGULATIONS 

FOR ELECTRONIC FILINGS 

■ 1. The authority citation for Part 232 

continues to read in part as follows: 

Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 

77s(a), 77z–3, 77sss(a), 78c(b), 78l, 78m, 78n, 

78o(d), 78w(a), 78ll, 80a–6(c), 80a–8, 80a–29, 

80a–30, 80a–37, and 7201 et seq.; and 18 

U.S.C. 1350. 

* * * * * 

■ 2. Section 232.301 is revised to read 

as follows: 

§ 232.301 EDGAR Filer Manual. 

Filers must prepare electronic filings 

in the manner prescribed by the EDGAR 

Filer Manual, promulgated by the 

Commission, which sets out the 

technical formatting requirements for 

electronic submissions. The 

requirements for becoming an EDGAR 

Filer and updating company data are set 

forth in the updated EDGAR Filer 

Manual, Volume I: ‘‘General 

Information,’’ Version 8 (October 2009). 

The requirements for filing on EDGAR 

are set forth in the updated EDGAR Filer 

Manual, Volume II: ‘‘EDGAR Filing,’’ 

Version 15 (August 2010). Additional 

provisions applicable to Form N–SAR 

filers are set forth in the EDGAR Filer 

Manual, Volume III: ‘‘N–SAR 

Supplement,’’ Version 1 (September 

2005). All of these provisions have been 

incorporated by reference into the Code 

of Federal Regulations, which action 

was approved by the Director of the 

Federal Register in accordance with 5 

U.S.C. 552(a) and 1 CFR Part 51. You 

must comply with these requirements in 

order for documents to be timely 

received and accepted. You can obtain 

paper copies of the EDGAR Filer 

Manual from the following address: 

Public Reference Room, U.S. Securities 

and Exchange Commission, 100 F 

Street, NE., Room 1543, Washington, DC 

20549, on official business days 

between the hours of 10 a.m. and 3 p.m. 

Electronic copies are available on the 

Commission’s Web site. The address for 

the Filer Manual is http://www.sec.gov/ 

info/edgar.shtml. You can also inspect 

the document at the National Archives 

and Records Administration (NARA). 

For information on the availability of 

this material at NARA, call 202–741– 

6030, or go to: http://www.archives.gov/ 

federal_register/code_of_federal_

regulations/ibr_locations.html. 

Dated: September 9, 2010. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–22983 Filed 9–14–10; 8:45 am] 

BILLING CODE P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Parts 4022 and 4044 

Allocation of Assets in SingleEmployer Plans; Benefits Payable in 

Terminated Single-Employer Plans; 

Interest Assumptions for Valuing and 

Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: Pension Benefit Guaranty 

Corporation’s regulations on Allocation 

of Assets in Single-Employer Plans and 

Benefits Payable in Terminated SingleEmployer Plans prescribe interest 

assumptions for valuing and paying 

mstockstill on DSKH9S0YB1PROD with RULES

Federal Register / Vol. 75, No. 178 / Wednesday, September 15, 2010 / Rules and Regulations 55967 

certain benefits under terminating 

single-employer plans. This final rule 

amends the asset allocation regulation 

to adopt interest assumptions for plans 

with valuation dates in the fourth 

quarter of 2010 and amends the benefit 

payments regulation to adopt interest 

assumptions for plans with valuation 

dates in October 2010. Interest 

assumptions are also published on 

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

DATES: Effective October 1, 2010. 

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 Allocation of Assets in SingleEmployer Plans (29 CFR Part 4044) and 

the regulation on Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR Part 4022). Assumptions under the 

asset allocation regulation are updated 

quarterly; assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates the 

assumptions under the asset allocation 

regulation for the fourth quarter 

(October through December) of 2010 and 

updates the assumptions under the 

benefit payments regulation for October 

2010. 

The interest assumptions prescribed 

under the asset allocation regulation 

(found in Appendix B to Part 4044) are 

used for the valuation of benefits for 

allocation purposes under ERISA 

section 4044. 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 lump-sum amounts to be 

paid by PBGC (found in Appendix B to 

Part 4022), and (2) a set for privatesector 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 4044 the interest 

assumptions for valuing benefits for 

allocation purposes in plans with 

valuation dates during the fourth 

quarter (October through December) of 

2010, (2) 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 

October 2010, and (3) 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 October 2010. 

The interest assumptions that PBGC 

will use for valuing benefits for 

allocation purposes (set forth in 

Appendix B to part 4044) will be 4.48 

percent for the first 25 years following 

the valuation date and 4.51 percent 

thereafter. In comparison with the 

interest assumptions in effect for the 

third quarter of 2010, these interest 

assumptions represent an increase of 5 

years in the select period (the period 

during which the select rate (the initial 

rate) applies), a decrease of 0.45 percent 

in the select rate, and a decrease of 0.15 

percent in the ultimate rate (the final 

rate). 

The interest assumptions that PBGC 

will use for its own lump-sum payments 

(set forth in Appendix B to part 4022) 

will be 1.75 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 September 

2010, these interest assumptions 

represent a decrease of 0.50 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 October 2010, 

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 

29 CFR Part 4022 

Employee benefit plans, Pension 

insurance, Pensions, Reporting and 

recordkeeping requirements. 

29 CFR Part 4044 

Employee benefit plans, Pension 

insurance, Pensions. 

■ In consideration of the foregoing, 29 

CFR parts 4022 and 4044 are 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 

204, as set forth below, is added to the 

table. 

Appendix B to Part 4022—Lump Sum 

Interest Rates for PBGC Payments 

* * * * * 

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55968 Federal Register / Vol. 75, No. 178 / Wednesday, September 15, 2010 / Rules and Regulations 

Rate set 

For plans with a valuation 

date Immediate 

annuity rate 

(percent) 

Deferred annuities 

(percent) 

On or after Before i1 i2 i3 n1 n2

*******

204 10–1–10 11–1–10 1.75 4.00 4.00 4.00 7 8 

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

204, 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

*******

204 10–1–10 11–1–10 1.75 4.00 4.00 4.00 7 8 

PART 4044—ALLOCATION OF 

ASSETS IN SINGLE-EMPLOYER 

PLANS 

■ 4. The authority citation for part 4044 

continues to read as follows: 

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

1341, 1344, 1362. 

■ 5. In appendix B to part 4044, a new 

entry for October–December 2010, as set 

forth below, is added to the table. 

Appendix B to Part 4044—Interest 

Rates Used to Value Benefits 

* * * * * 

For valuation dates occurring in the months— 

The values of it are: 

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

*******

October–December 2010 ................................................. 0.0448 1–25 0.0451 >25 N/A N/A 

Issued in Washington, DC, on this 9th day 

of September 2010. 

Vincent K. Snowbarger, 

Deputy Director for Operations, Pension 

Benefit Guaranty Corporation. 

[FR Doc. 2010–22953 Filed 9–14–10; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 100 

[Docket No. USCG–2010–0518] 

RIN 1625–AA08 

Special Local Regulations, Sabine 

River; Orange, TX 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a temporary Special Local 

Regulation in the Port Arthur Captain of 

the Port Zone on the Sabine River, 

Orange, Texas. This Special Local 

Regulation is intended to restrict vessels 

from portions of the Sabine River during 

the Thunder on the Sabine boat races. 

This Special Local Regulation is 

necessary to protect spectators and 

vessels from the hazards associated with 

powerboat races. 

DATES: This rule is effective from 8 a.m. 

on September 25, 2010, to 6 p.m. on 

September 26, 2010. This regulation 

will be enforced daily from 8 a.m. until 

6 p.m. on September 25 and 26, 2010. 

ADDRESSES: Comments and material 

received from the public, as well as 

documents mentioned in this preamble 

as being available in the docket, are part 

of docket USCG–2010–0518 and are 

available online by going to http:// 

www.regulations.gov, inserting USCG– 

2010–0518 in the ‘‘Keyword’’ box, and 

then clicking ‘‘Search.’’ This material is 

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 rule, call or 

e-mail Mr. Scott Whalen, Marine Safety 

Unit Port Arthur, TX, Coast Guard; 

telephone 409–719–5086, e-mail 

scott.k.whalen@uscg.mil. If you have 

questions on viewing the docket, call 

Renee V. Wright, Program Manager, 

Docket Operations, telephone 202–366– 

9826. 

SUPPLEMENTARY INFORMATION: 

Regulatory Information 

On July 15, 2010 we published a 

notice of proposed rulemaking (NPRM) 

entitled Special Local Regulations; 

Sabine River, Orange, TX in the Federal 

Register (75 FR 41119). We received no 

comments on the proposed rule. No 

mstockstill on DSKH9S0YB1PROD with RULES