Federal Register / Vol. 72, No. 50 / Thursday, March 15, 2007 / Notices 12227 

The proposed amendment to replace the 

RCS DNB parameter limits in TS with 

references to the COLR does not involve a 

physical alteration of the plant, nor a change 

or addition of a system function. The 

proposed amendment does not involve 

operation of any required SSCs in a manner 

or configuration different from those 

previously recognized or evaluated. No new 

failure mechanisms will be introduced by the 

proposed change. 

Therefore, the proposed amendment does 

not create the possibility of a new or different 

kind of accident from any accident 

previously evaluated. 

Criterion 3: Does the Proposed Change 

Involve a Significant Reduction in the Margin 

of Safety? 

Response: No. 

The proposed amendment to replace the 

RCS DNB parameter limits in TS with 

references to the COLR will continue to 

maintain the margin of safety. The DNB 

parameter limits specified in the COLR will 

be determined based on the safety analyses 

of transients and accidents, performed using 

the NRC-approved methodologies that show 

that, with appropriate measurement 

uncertainties of these parameters accounted 

for, the acceptance criteria for each of the 

analyzed transients are met. This provides 

the same margin of safety as the limit values 

currently specified in the TS. Any future 

revisions to the safety analyses that require 

prior NRC approval are identified per the 10 

CFR 50.59 review process. 

Therefore, the proposed amendment would 

not involve a significant reduction in a 

margin of safety. 

Based on the staff’s review of the licensee’s 

analysis, the staff concludes that the 

proposed amendment presents no significant 

hazards consideration under the standards 

set forth in 10 CFR 50.92(c) and, accordingly, 

a finding of ‘‘no significant hazards 

consideration’’ is justified. 

[Lit. face SIG] 

Dated at Rockville, Maryland this lll 

day of lll, 2007. 

For The Nuclear Regulatory Commission. 

Project Manager 

Plant Licensing Branch [ ] 

Division of Operating Reactor Licensing 

Office of Nuclear Reactor Regulation 

[FR Doc. E7–4752 Filed 3–14–07; 8:45 am] 

BILLING CODE 7590–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Required Interest Rate Assumption for 

Determining Variable-Rate Premium for 

Single-Employer Plans; Interest 

Assumptions for Multiemployer Plan 

Valuations Following Mass Withdrawal 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of interest rates and 

assumptions. 

SUMMARY: This notice informs the public 

of the interest rates and assumptions to 

be used under certain Pension Benefit 

Guaranty Corporation regulations. These 

rates and assumptions are published 

elsewhere (or can be derived from rates 

published elsewhere), but are collected 

and published in this notice for the 

convenience of the public. Interest rates 

are also published on the PBGC’s Web 

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

DATES: The required interest rate for 

determining the variable-rate premium 

under part 4006 applies to premium 

payment years beginning in March 

2007. The interest assumptions for 

performing multiemployer plan 

valuations following mass withdrawal 

under part 4281 apply to valuation dates 

occurring in April 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: 

Variable-Rate Premiums 

Section 4006(a)(3)(E)(iii)(II) of the 

Employee Retirement Income Security 

Act of 1974 (ERISA) and § 4006.4(b)(1) 

of the PBGC’s regulation on Premium 

Rates (29 CFR part 4006) prescribe use 

of an assumed interest rate (the 

‘‘required interest rate’’) in determining 

a single-employer plan’s variable-rate 

premium. Pursuant to the Pension 

Protection Act of 2006, for premium 

payment years beginning in 2006 or 

2007, the required interest rate is the 

‘‘applicable percentage’’ of the annual 

rate of interest determined by the 

Secretary of the Treasury on amounts 

invested conservatively in long-term 

investment grade corporate bonds for 

the month preceding the beginning of 

the plan year for which premiums are 

being paid (the ‘‘premium payment 

year’’). 

On February 2, 2007 (at 72 FR 4955), 

the Internal Revenue Service (IRS) 

published final regulations containing 

updated mortality tables for determining 

current liability under section 412(l)(7) 

of the Code and section 302(d)(7) of 

ERISA for plan years beginning on or 

after January 1, 2007. As a result, in 

accordance with section 

4006(a)(3)(E)(iii)(II) of ERISA, the 

‘‘applicable percentage’’ to be used in 

determining the required interest rate 

for plan years beginning in 2007 is 100 

percent. 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in March 2007 is 5.85 percent (i.e., 100 

percent of the 5.85 percent composite 

corporate bond rate for February 2007 as 

determined by the Treasury). 

The following table lists the required 

interest rates to be used in determining 

variable-rate premiums for premium 

payment years beginning between April 

2006 and March 2007. 

For premium payment years 

beginning in: 

The required 

interest rate is: 

April 2006 ............................. 5.01 

May 2006 .............................. 5.25 

June 2006 ............................. 5.35 

July 2006 .............................. 5.36 

August 2006 ......................... 5.36 

September 2006 ................... 5.19 

October 2006 ........................ 5.06 

November 2006 .................... 5.05 

December 2006 .................... 4.90 

January 2007 ........................ 5.75 

February 2007 ...................... 5.89 

March 2007 ........................... 5.85 

Multiemployer Plan Valuations 

Following Mass Withdrawal 

The PBGC’s regulation on Duties of 

Plan Sponsor Following Mass 

Withdrawal (29 CFR part 4281) 

prescribes the use of interest 

assumptions under the PBGC’s 

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044). The interest assumptions 

applicable to valuation dates in April 

2007 under part 4044 are contained in 

an amendment to part 4044 published 

elsewhere in today’s Federal Register. 

Tables showing the assumptions 

applicable to prior periods are codified 

in appendix B to 29 CFR part 4044. 

Issued in Washington, DC, on this 8th day 

of March 2007. 

Vincent K. Snowbarger, 

Interim Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E7–4679 Filed 3–14–07; 8:45 am] 

BILLING CODE 7709–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. IC–27750; 812–13336] 

Vanguard Bond Index Funds, et al.; 

Notice of Application 

March 9, 2007. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of an application for an 

order under section 6(c) of the 

Investment Company Act of 1940 (the 

‘‘Act’’) for exemptions from sections 

2(a)(32), 18(f)(1), 18(i), 22(d) and 24(d) 

of the Act and rule 22c–1 under the Act, 


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