7078 Federal Register / Vol. 62, No. 31 / Friday, February 14, 1997 / Notices

PENSION BENEFIT GUARANTY

CORPORATION

Interest Assumption for Determining

Variable-Rate Premium; 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 are derivable 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 home

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

DATES: The interest rate for determining

the variable-rate premium under part

4006 applies to premium payment years

beginning in February 1997. The

interest assumptions for performing

multiemployer plan valuations

following mass withdrawal under part

4281 apply to valuation dates occurring

in March 1997.

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 (202–326–4179

for TTY and TDD).

SUPPLEMENTARY INFORMATION:

Variable-Rate Premiums

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

Employee Retirement Income Security

Act of 1974 and § 4006.4(b)(1) of the

PBGC’s regulation on Premium Rates

(29 CFR part 4006) prescribe use of an

assumed interest rate in determining a

single-employer plan’s variable-rate

premium. The rate is a specified

percentage (currently 80 percent) of the

annual yield on 30-year Treasury

securities for the month preceding the

beginning of the plan year for which

premiums are being paid (the ‘‘premium

payment year’’). The yield figure is

reported in Federal Reserve Statistical

Releases G. 13 and H. 15.

The assumed interest rate to be used

in determining variable-rate premiums

for premium payment years beginning

in February 1997 (i.e., 80 percent of the

yield figure for January 1997) is 5.46

percent. The following table lists the

assumed interest rates to be used in

determining variable-rate premiums for

premium payment years beginning

between March 1996 and February

1997.

For premium payment years

beginning in

The required interest rate is

March 1996 ............................... 4.99

April 1996 .................................. 5.28

May 1996 .................................. 5.43

June 1996 ................................. 5.54

July 1996 .................................. 5.65

August 1996 .............................. 5.62

September 1996 ....................... 5.47

October 1996 ............................ 5.62

November 1996 ........................ 5.45

December 1996 ........................ 5.18

January 1997 ............................ 5.24

February 1997 .......................... 5.46

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 March

1997 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 6th day

of February 1997.

Martin Slate,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 97–3680 Filed 2–13–97; 8:45 am]

BILLING CODE 7708–01–P

RAILROAD RETIREMENT BOARD

Proposed Collection; Comment

Request

SUMMARY: In accordance with the

requirement of Section 3506(c)(2)(A) of

the Paperwork Reduction Act of 1995

which provides opportunity for public

comment on new or revised data

collections, the Railroad Retirement

Board (RRB) will publish periodic

summaries of proposed data collections.

Comments are invited on: (a) Whether

the proposed information collection is

necessary for the proper performance of

the functions of the agency, including

whether the information has practical

utility; (b) the accuracy of the RRB’s

estimate of the burden of the collection

of the information; (c) ways to enhance

the quality, utility, and clarity of the

information to be collected; and (d)

ways to minimize the burden related to

the collection of information on

respondents, including the use of

automated collection techniques or

other forms of information technology.

Title and purpose of information

collection: Survivor Questionnaire;

OMB 3220–0032. Under Section 6 of the

Railroad Retirement Act (RRA), benefits

that may be due on the death of a

railroad employee or a survivor

annuitant include (1) a lump-sum death

benefit (2) a residual lump-sum

payment (3) accrued annuities due but

unpaid at death, and (4) monthly

survivor insurance payments. The

requirements for determining the

entitlement of possible beneficiaries to

these benefits are prescribed in 20 CFR

part 234.

When the RRB receives notification of

the death of a railroad employee or

survivor annuitant, an RRB field office

utilizes Form RL–94–F, Survivor

Questionnaire, to secure additional

information from surviving relatives

needed to determine if any further

benefits are payable under the RRA.

Completion is voluntary. One response

is requested of each respondent.

The RRB proposes minor changes to

Form RL–94–F to incorporate language

required by the Paperwork Reduction

Act of 1995 and to request the address

of the person who either paid or will

pay the deceased annuitant’s burial

expenses. Currently, the RRB requests

only their name and phone number. The

completion time for the RL–94–F is

estimated at between 5 to 11 minutes.

The RRB estimates that approximately

26,500 responses are received annually.

Additional Information or Comments:

To request more information or to

obtain a copy of the information

collection justification, forms, and/or

supporting material, please call the RRB

Clearance Officer at (312) 751–3363.

Comments regarding the information

collection should be addressed to

Ronald J. Hodapp, Railroad Retirement

Board, 844 North Rush Street, Chicago,

Illinois 60611–2092. Written comments

should be received within 60 days of

this notice.

Chuck Mierzwa,

Clearance Officer.

[FR Doc. 97–3805 Filed 2–13–97; 8:45 am]

BILLING CODE 7905–01–M