Federal Register / Vol. 65, No. 199 / Friday, October 13, 2000 / Rules and Regulations 60859

been filed by the American Ingredients

Co., 3947 Broadway, Kansas City, MO

64111. The petition proposed to amend

the food additive regulations in

§ 172.846 Sodium stearoyl lactylate (21

CFR 172.846) to provide for the safe use

of sodium stearoyl lactylate as an

emulsifier, stabilizer, and texturizer in

cream liqueur drinks.

II. Conclusions

FDA has evaluated the data in the

petition and other relevant material.

Based on this information, the agency

concludes that the proposed use of

sodium stearoyl lactylate is safe, that the

additive will achieve its intended

technical effect, and, therefore, that the

regulation in § 172.846 should be

amended as set forth below.

In accordance with § 171.1(h) (21 CFR

171.1(h)), the petition and the

documents that FDA considered and

relied upon in reaching its decision to

approve the petition are available for

inspection at the Center for Food Safety

and Applied Nutrition by appointment

with the information contact person

listed above. As provided in § 171.1(h),

the agency will delete from the

documents any materials that are not

available for public disclosure before

making the documents available for

inspection.

III. Environmental Impact

The agency has previously considered

the environmental effects of this rule as

announced in the notice of filing for

FAP 9A4684. No new information or

comments have been received that

would affect the agency’s previous

determination that there is no

significant impact on the human

environment and that an environmental

impact statement is not required.

IV. Paperwork Reduction Act of 1995

This final rule contains no collection

of information. Therefore, clearance by

the Office of Management and Budget

under the Paperwork Reduction Act of

1995 is not required.

V. Objections

Any person who will be adversely

affected by this regulation may at any

time file with the Dockets Management

Branch (address above) written

objections by November 13, 2000. Each

objection shall be separately numbered,

and each numbered objection shall

specify with particularity the provisions

of the regulation to which objection is

made and the grounds for the objection.

Each numbered objection on which a

hearing is requested shall specifically so

state. Failure to request a hearing for

any particular objection shall constitute

a waiver of the right to a hearing on that

objection. Each numbered objection for

which a hearing is requested shall

include a detailed description and

analysis of the specific factual

information intended to be presented in

support of the objection in the event

that a hearing is held. Failure to include

such a description and analysis for any

particular objection shall constitute a

waiver of the right to a hearing on the

objection. Three copies of all documents

are to be submitted and are to be

identified with the docket number

found in brackets in the heading of this

document. Any objections received in

response to the regulation may be seen

in the Dockets Management Branch

between 9 a.m. and 4 p.m., Monday

through Friday.

List of Subjects in 21 CFR Part 172

Food additives, Reporting and

recordkeeping requirements.

Therefore, under the Federal Food,

Drug, and Cosmetic Act and under

authority delegated to the Commissioner

of Food and Drugs and redelegated to

the Director, Center for Food Safety and

Applied Nutrition, 21 CFR part 172 is

amended as follows:

PART 172—FOOD ADDITIVES

PERMITTED FOR DIRECT ADDITION

TO FOOD FOR HUMAN

CONSUMPTION

1. The authority citation for 21 CFR

part 172 continues to read as follows:

Authority: 21 U.S.C. 321, 341, 342, 348,

371, 379e.

2. Section 172.846 is amended by

adding paragraph (c)(9) to read as

follows:

§ 172.846 Sodium stearoyl lactylate

* * * * *

(c) * * *

(9) As an emulsifier, stabilizer, or

texturizer in cream liqueur drinks, at a

level not to exceed 0.5 percent by

weight of the finished product.

Dated: October 2, 2000.

L. Robert Lake,

Director of Regulations and Policy, Center

for Food Safety and Applied Nutrition.

[FR Doc. 00–26251 Filed 10–12–00; 8:45 am]

BILLING CODE 4160–01–F

PENSION BENEFIT GUARANTY

CORPORATION

29 CFR Parts 4022 and 4044

Benefits Payable in Terminated SingleEmployer Plans; Allocation of Assets

in Single-Employer Plans; Interest

Assumptions for Valuing and Paying

Benefits

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Final rule.

SUMMARY: The Pension Benefit Guaranty

Corporation’s regulations on Benefits

Payable in Terminated Single-Employer

Plans and Allocation of Assets in

Single-Employer Plans prescribe interest

assumptions for valuing and paying

benefits under terminating singleemployer plans. This final rule amends

the regulations to adopt interest

assumptions for plans with valuation

dates in November 2000. Interest

assumptions are also published on the

PBGC’s web site (www.pbgc.gov).

EFFECTIVE DATE: November 1, 2000.

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 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.

Three sets of interest assumptions are

prescribed: (1) a set for the valuation of

benefits for allocation purposes under

section 4044 (found in Appendix B to

Part 4044), (2) a set for the PBGC to use

to determine whether a benefit is

payable as a lump sum and to determine

lump-sum amounts to be paid by the

PBGC (found in Appendix B to Part

4022), and (3) a set for private-sector

pension practitioners to refer to if they

wish to use lump-sum interest rates

determined using the PBGC’s historical

methodology (found in Appendix C to

Part 4022). (See the PBGC’s two final

rules published March 17, 2000, in the

Federal Register (at 65 FR 14752 and

14753). Effective May 1, 2000, these

rules changed how the interest

60860 Federal Register / Vol. 65, No. 199 / Friday, October 13, 2000 / Rules and Regulations

assumptions are used and where they

are set forth in the PBGC’s regulations.)

Accordingly, 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 November 2000,

(2) adds to Appendix B to Part 4022 the

interest assumptions for the PBGC to

use for its own lump-sum payments in

plans with valuation dates during

November 2000, 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 the PBGC’s historical

methodology for valuation dates during

November 2000.

For valuation of benefits for allocation

purposes, the interest assumptions that

the PBGC will use (set forth in

Appendix B to part 4044) will be 7.10

percent for the first 25 years following

the valuation date and 6.25 percent

thereafter. These interest assumptions

represent an increase (from those in

effect for October 2000) of 0.10 percent

for the first 25 years following the

valuation date and are otherwise

unchanged.

The interest assumptions that the

PBGC will use for its own lump-sum

payments (set forth in Appendix B to

part 4022) will be 5.25 percent for the

period during which a benefit is in pay

status, 4.50 percent during the sevenyear period directly preceding the

benefit’s placement in pay status, and

4.00 percent during any other years

preceding the benefit’s placement in pay

status. These interest assumptions

represent an increase (from those in

effect for October 2000) of 0.25 percent

for the period in which a benefit is in

pay status and for the seven-year period

directly preceding benefit’s placement

in pay status 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 the PBGC for

determining and paying lump sums (set

forth in Appendix B to part 4022).

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

and payment of benefits in plans with

valuation dates during November 2000,

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.

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

85, as set forth below, is added to the

table. (The introductory text of the table

is omitted.)

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

*******

85 11–1–00 12–1–00 5.25 4.50 4.00 4.00 7 8

3. In appendix C to part 4022, Rate Set 85, as set forth below, is added to the table. (The introductory text

of the table is omitted.)

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

*******

85 11–1–00 12–1–00 5.25 4.50 4.00 4.00 7 8

Federal Register / Vol. 65, No. 199 / Friday, October 13, 2000 / Rules and Regulations 60861

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, as set forth below, is added to the

table. (The introductory text of the table

is omitted.)

Appendix B to Part 4044—Interest Rates Used to Value Benefits

* * * * * * *

For valuation dates occurring in the month—

The values of i1 are

i1 for t= i1 for t= i1 for t=

*******

November 2000 .................................................................... .0710 1–25 .0625 >25 N/A N/A

Issued in Washington, DC, on this 6th day

of October 2000.

John Seal,

Acting Executive Director, Pension Benefit

Guaranty Corporation.

[FR Doc. 00–26328 Filed 10–12–00; 8:45 am]

BILLING CODE 7708–01–P

DEPARTMENT OF DEFENSE

Department of the Navy

32 CFR Part 752

RIN 0703–AA68

Admiralty Claims

AGENCY: Department of the Navy, DOD.

ACTION: Final rule.

SUMMARY: The Department of the Navy

is updating its Admiralty Claims

regulations to reflect a change in the

Division name and address, to update

citations to the United States Code

provisions, and to remove the reference

to Commander, Fleet Air Caribbean, a

command that has been disestablished.

DATES: Effective October 13, 2000.

ADDRESSES: Office of the Judge

Advocate General (Code 13), 1322

Patterson Ave SE, Suite 3000,

Washington Navy Yard, DC 20374–

5066.

FOR FURTHER INFORMATION CONTACT:

Commander Gregg A. Crevi, JAGC, U.S.

Navy, Deputy Assistant Judge Advocate

General (Admiralty and Maritime Law),

Office of the Judge Advocate General

(Code 11), 1322 Patterson Ave SE, Suite

3000, Washington Navy Yard, DC

20374–5066, (202) 685–5040.

SUPPLEMENTARY INFORMATION: Pursuant

to the authority cited below, the

Department of the Navy amends 32 CFR

part 752. This amendment provides

notice that the Deputy Judge Advocate

General of the Navy (Admiralty and

Maritime Law) has made administrative

corrections to the Admiralty Claims

regulations. It has been determined that

invitation of public comment on this

amendment would be impracticable and

unnecessary, and it is therefore not

required under the public rulemaking

provisions of 32 CFR part 336 or

Secretary of the Navy Instruction

5720.45. Interested persons, however,

are invited to comment in writing on

this amendment. All written comments

received will be considered in making

subsequent amendments or revisions of

32 CFR Part 752, or the instructions on

which they are based. Changes may be

initiated on the basis of comments

received. Written comments should be

addressed to Commander Gregg A.

Crevi, JAGC, U.S. Navy, Deputy

Assistant Judge Advocate General

(Admiralty and Maritime Law), Office of

the Judge Advocate General (Code 11),

1322 Patterson Ave SE, Suite 3000,

Washington Navy Yard, DC 20374–

5066. It has been determined that this

final rule is not a ‘‘significant regulatory

action’’ as defined in Executive Order

12866.

Executive Order 13132, Federalism

It has been determined that this rule

does not have sufficient Federalism

implications to warrant the preparation

of a Federalism Assessment. The

provisions contained in this rule will

have little or no direct effect on States

or local governments.

Regulatory Flexibility Act

This rule will not have a significant

economic impact on a substantial

number of small entities for purposes of

the Regulatory Flexibility Act (5 U.S.C.

Chapter 6).

Paperwork Reduction Act

This rule does not impose collection

of information requirements for

purposes of the Paperwork Reduction

Act (44 U.S.C. Chapter 35, 5 CFR Part

1320).

List of Subjects

Admiralty, Claims, Salvage.

For the reasons set forth in the

preamble, amend part 752 of title 32 of

the Code of Federal Regulations as

follows:

PART 752—ADMIRALTY CLAIMS

1. The authority citation for 32 CFR

part 752 continues to read as follows:

Authority: 5 U.S.C. 301; 10 U.S.C. 5013,

5148, and 7621–7623, 32 CFR 700.206 and

700.1202.

§§ 752.2, 752.3, 752.4, 752.5 [Amended]

2. a. In 32 CFR part 752 remove the

words ‘‘Admiralty Division’’ and add, in

their place, the words ‘‘Admiralty and

Maritime Law Division’’ in the

following places:

(1) Section 752.2(b), (c), (d) and (g)

(2) Section 752.4(d)

(3) Section 752.5(a)

b. In addition to the amendments set

forth above, in 32 CFR part 752 remove

the date ‘‘(1982)’’ following all citations

to the United States Code, and add, in

its place, the date ‘‘(1994)’’ in the

following places:

(1) Section 752.2(a)

(2) Section 752.3(a)

(3) Section 752.4(a) and (c)

(4) Section 752.5(b)