Federal Register / Vol. 73, No. 10 / Tuesday, January 15, 2008 / Notices 2559 

A written summary of the hearing will 

be compiled, and such summary will be 

made available, upon written request to 

OPIC’s Corporate Secretary, at the cost 

of reproduction. 

Contact Person for Information: 

Information on the hearing may be 

obtained from Connie M. Downs at (202) 

336–8438, via facsimile at (202) 408–

0136, or via e-mail at cdown@opic.gov. 

Supplementary Information: OPIC is a 

U.S. Government agency that provides, 

on a commercial basis, political risk 

insurance and financing in friendly 

developing countries and emerging 

democracies for environmentally sound 

projects that confer positive 

developmental benefits upon the project 

country while creating employment in 

the U.S. OPIC is required by section 

231A(c) of the Foreign Assistance Act of 

1961, as amended (the ‘‘Act’’) to hold at 

least one public hearing each year. 

Dated: January 11, 2008. 

Connie M. Downs, 

OPIC Corporate Secretary. 

[FR Doc. 08–119 Filed 1–11–08; 1:17 pm] 

BILLING CODE 3210–01–M 

PENSION BENEFIT GUARANTY 

CORPORATION 

Interest Rates and Assumptions Under 

Parts 4006, 4007, 4062, 4219, and 4281 

of PBGC Regulations 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice about availability of 

interest rates and assumptions. 

SUMMARY: For a number of years, 

Pension Benefit Guaranty Corporation 

has published in the Federal Register a 

monthly notice informing the public of 

the interest rates and assumptions to be 

used under parts 4006, 4007, 4062, 

4219, and 4281 of PBGC regulations. 

These rates and assumptions are 

published elsewhere (or can be derived 

from rates published elsewhere) and are 

also available on PBGC’s Web site, http: 

//www.pbgc.gov. Now that plans subject 

to PBGC regulations are required to 

make premium filings electronically 

through PBGC’s Web site, PBGC has 

concluded that it is no longer necessary 

to duplicate the posting of these interest 

rates and assumptions on its Web site by 

also publishing the monthly Federal 

Register notices. Accordingly, this 

notice informs the public that the 

monthly Federal Register notices of 

PBGC interest rates and assumptions 

will no longer be published and 

describes how to access the rates and 

assumptions on PBGC’s Web site. 

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: Several 

regulations of Pension Benefit Guaranty 

Corporation (PBGC) require the use of 

interest rates and assumptions that 

change monthly or quarterly. The 

regulations on Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR part 4022) and Allocation of Assets 

in Single-Employer Plans (29 CFR part 

4044) require the use of interest rates 

and assumptions that are set by PBGC, 

and PBGC must amend those 

regulations monthly to promulgate new 

rates and assumptions. But other PBGC 

regulations refer to rates and 

assumptions that are not set by PBGC, 

but rather come from other sources. 

Thus persons using those regulations 

can determine the interest rates and 

assumptions they need to know without 

action by PBGC. For a number of years, 

PBGC has made the interest rates and 

assumptions available in monthly 

Federal Register notices and on its Web 

site. The regulations in this category are 

those on Premium Rates (29 CFR part 

4006), Payment of Premiums (29 CFR 

part 4007), Liability for Termination of 

Single-Employer Plans (29 CFR part 

4062), Notice, Collection, and 

Redetermination of Withdrawal 

Liability (29 CFR part 4219), and Duties 

of Plan Sponsor Following Mass 

Withdrawal (29 CFR part 4281). 

On June 1, 2006 (at 71 FR 31077), 

PBGC published a final rule under 

which plans covered by the PBGC 

pension insurance program must make 

annual premium filings electronically. 

The e-filing requirement was phased in 

over two years and became applicable to 

all plans for plan years beginning after 

2006. See 29 CFR 4007.3. Electronic 

premium filing is done through an 

application called ‘‘My Plan 

Administration Account’’ (‘‘My PAA’’) 

on PBGC’s Web site. Thus, plans or their 

representatives are required to have 

access to PBGC’s Web site in order to 

fulfill the premium e-filing obligation. 

Access to the Web site provides access 

to the interest rates and assumptions for 

use under the five regulations listed 

above because those rates and 

assumptions are posted on the Web site. 

PBGC has concluded that it is no longer 

necessary both to update the interest 

rates and assumptions on the Web site 

and to publish notice of the rates and 

assumptions in the Federal Register. 

Accordingly, PBGC is discontinuing 

publication of the monthly Federal 

Register notices. Monthly publication of 

final rules amending the benefit 

payments and allocation regulations 

(parts 4022 and 4044) will continue 

because of the need to amend those 

regulations each month to provide 

interest rates and assumptions set by 

PBGC. 

To access the interest rates and 

assumptions on PBGC’s Web site (http: 

//www.pbgc.gov), go to the 

‘‘practitioner’s page’’ (by clicking on 

‘‘Practitioners’’ at the top or left side of 

the home page). The interest rates and 

assumptions are listed at the top of the 

left column on the ‘‘practitioners page.’’

• For the interest rates for use in 

determining variable-rate premiums 

under the premium rates regulation 

(part 4006), click on the link to 

‘‘variable rate premiums.’’

• For the interest rates applied to late 

premium payments under the premium 

payment regulation (part 4007), click on 

the link to ‘‘late premium payments.’’

• For the interest rates applied to 

under- and overpayments of employer 

liability under the termination liability 

regulation (part 4062), click on the link 

to ‘‘late premium payments.’’

• For the interest rates for charging or 

crediting interest on under- and 

overpayments of withdrawal liability 

under the withdrawal liability notice 

and collection regulation (part 4219) 

unless an applicable plan provision 

provides otherwise, click on the link to 

‘‘overdue or defaulted withdrawal 

liability.’’

• For the interest rates and 

assumptions used for valuations under 

the plan sponsor duties regulation (part 

4281), click on the link to ‘‘immediate 

and deferred annuities.’’

The rates and assumptions also may 

be obtained by calling PBGC’s interest 

rate hotline at 202–326–4041 or by 

contacting Larry Shirley in PBGC’s 

Policy, Research & Analysis Department 

at 202–326–4080, ext. 3474, or 

shirley.larry@pbgc.gov. 

Issued in Washington, DC, on this 9th day 

of January 2008. 

Vincent K. Snowbarger, 

Deputy Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E8–568 Filed 1–14–08; 8:45 am] 

BILLING CODE 7709–01–P 


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