32580 Federal Register / Vol. 83, No. 135 / Friday, July 13, 2018 / Rules and Regulations 

enforcement coordination for the 

Department of Justice and carries out a 

wide range of responsibilities. OIA 

works closely with its foreign and 

domestic stakeholders to ensure that 

criminals both at home and abroad are 

extradited to face justice. OIA also 

handles thousands of requests for 

mutual legal assistance, drafts and 

comments on legislation and policy, and 

participates in litigation related to 

international cooperation issues. At its 

core, international prisoner transfer is 

an area of international legal 

cooperation. Having concluded that the 

responsibility for handling international 

prisoner transfers more closely relates to 

the mission of OIA, the Department of 

Justice is moving the International 

Prisoner Transfer Unit from the Office of 

Enforcement Operations to OIA. To 

ensure OIA has the necessary 

authorities to find appropriate or 

inappropriate the transfer of offenders to 

or from a foreign country under certain 

treaties, the Department of Justice is 

modifying its delegation of authority in 

28 CFR 0.64–2. This modification will 

authorize the Assistant Attorney 

General for the Criminal Division to redelegate this authority to the Deputy 

Assistant Attorneys General in the 

Criminal Division and to the Director, 

the Deputy Directors, and the Associate 

Director supervising the International 

Prisoner Transfer Unit of the Office of 

International Affairs. This action will 

promote efficiency, better accomplish 

important law enforcement objectives, 

and enhance international relationships 

and cooperation. 

Administrative Procedure Act—5 

U.S.C. 553 

This rule is a rule of agency 

organization and relates to a matter 

relating to agency management and is 

therefore exempt from the requirements 

of prior notice and comment and a 30- 

day delay in the effective date. See 5 

U.S.C. 553(a)(2), (b)(3)(A). 

Regulatory Flexibility Act 

A Regulatory Flexibility Analysis is 

not required to be prepared for this final 

rule because the Department was not 

required to publish a general notice of 

proposed rulemaking for this matter. 5 

U.S.C. 604(a). 

Executive Order 12866—Regulatory 

Planning and Review 

This action has been drafted and 

reviewed in accordance with Executive 

Order 12866, Regulatory Planning and 

Review, section 1(b), The Principles of 

Regulation. This rule is limited to 

agency organization, management, and 

personnel as described in section 3(d)(3) 

of Executive Order 12866 and, therefore, 

is not a ‘‘regulation’’ or ‘‘rule’’ as 

defined by the order. Accordingly, this 

action has not been reviewed by the 

Office of Management and Budget. 

Executive Order 13132—Federalism 

This rule will not have substantial 

direct effects on the States, on the 

relationship between the national 

government and the States, or on 

distribution of power and 

responsibilities among the various 

levels of government. Therefore, in 

accordance with Executive Order 13132, 

it is determined that this rule does not 

have sufficient federalism implications 

to warrant the preparation of a 

Federalism Assessment. 

Executive Order 12988—Civil Justice 

Reform 

This rule was drafted in accordance 

with the applicable standards set forth 

in sections 3(a) and 3(b)(2) of Executive 

Order 12988. 

Unfunded Mandates Reform Act of 

1995 

This rule will not result in the 

expenditure by State, local, and tribal 

governments, in the aggregate, or by the 

private sector, of $100,000,000 or more 

in any one year, and it will not 

significantly or uniquely affect small 

governments. Therefore, no actions were 

deemed necessary under the provisions 

of the Unfunded Mandates Reform Act 

of 1995. 

Congressional Review Act 

This action pertains to agency 

management, personnel, and 

organizations and does not substantially 

affect the rights or obligations of nonagency parties and, accordingly, is not 

a ‘‘rule’’ as that term is used by the 

Congressional Review Act, 5 U.S.C. 

804(3)(B). Therefore, the reporting 

requirement of 5 U.S.C. 801 does not 

apply. 

List of Subjects in 28 CFR Part 0 

Authority delegations (Government 

agencies), Crime, Government 

employees, Law enforcement, 

Organization and functions 

(Government agencies), Prisoners. 

For the reasons stated in the 

preamble, title 28, part 0, of the Code of 

Federal Regulations is amended as 

follows: 

PART 0—ORGANIZATION OF THE 

DEPARTMENT OF JUSTICE 

■ 1. The authority citation for part 0 

continues to read as follows: 

Authority: 5 U.S.C. 301; 28 U.S.C. 509, 

510, 515–519. 

■ 2. In § 0.64–2, revise the final sentence 

to read as follows: 

§ 0.64–2. Delegation respecting transfer of 

offenders to and from foreign countries. 

* * * The Assistant Attorney 

General, Criminal Division, is 

authorized to re-delegate this authority 

within the Criminal Division to the 

Deputy Assistant Attorneys General in 

the Criminal Division and to the 

Director, the Deputy Directors, and the 

Associate Director supervising the 

International Prisoner Transfer Unit of 

the Office of International Affairs. 

Dated: June 29, 2018. 

Jefferson B. Sessions III, 

Attorney General. 

[FR Doc. 2018–15047 Filed 7–12–18; 8:45 am] 

BILLING CODE 4410–14–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans to 

prescribe interest assumptions under 

the regulation for valuation dates in 

August 2018. The interest assumptions 

are used for paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. 

DATES: Effective August 1, 2018. 

FOR FURTHER INFORMATION CONTACT: 

Hilary Duke (duke.hilary@pbgc.gov), 

Assistant General Counsel for 

Regulatory Affairs, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW, Washington, DC 20005, 202–326– 

4400 ext. 3839. (TTY users may call the 

Federal relay service toll-free at 1–800– 

877–8339 and ask to be connected to 

202–326–4400, ext. 3839.) 

SUPPLEMENTARY INFORMATION: PBGC’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR part 4022) prescribes actuarial 

assumptions—including interest 

assumptions—for paying plan benefits 

under terminated single-employer plans 

covered by title IV of the Employee 

Retirement Income Security Act of 1974. 


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Federal Register / Vol. 83, No. 135 / Friday, July 13, 2018 / Rules and Regulations 32581 

1Appendix B to PBGC’s regulation on Allocation 

of Assets in Single-Employer Plans (29 CFR part 

4044) prescribes interest assumptions for valuing 

benefits under terminating covered single-employer 

plans for purposes of allocation of assets under 

ERISA section 4044. Those assumptions are 

updated quarterly. 

The interest assumptions in the 

regulation are also published on PBGC’s 

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

PBGC uses the interest assumptions in 

appendix B to part 4022 to determine 

whether a benefit is payable as a lump 

sum and to determine the amount to 

pay. Appendix C to part 4022 contains 

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. Currently, the rates in 

appendices B and C of the benefit 

payment regulation are the same. 

The interest assumptions are intended 

to reflect current conditions in the 

financial and annuity markets. 

Assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates the 

benefit payments interest assumptions 

for August 2018.1

The August 2018 interest assumptions 

under the benefit payments regulation 

will be 1.25 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 July 2018, 

these assumptions represent no change 

in the immediate rate and are otherwise 

unchanged. 

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 payment of 

benefits under plans with valuation 

dates during August 2018, 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 in 29 CFR Part 4022 

Employee benefit plans, Pension 

insurance, Pensions, Reporting and 

recordkeeping requirements. 

In consideration of the foregoing, 29 

CFR part 4022 is 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 

298 is added at the end of the table to 

read as follows: 

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

*******

298 8–1–18 9–1–18 1.25 4.00 4.00 4.00 7 8 

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

298 is added at the end of the table to 

read as follows: 

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

*******

298 8–1–18 9–1–18 1.25 4.00 4.00 4.00 7 8 

Issued in Washington, DC. 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2018–14974 Filed 7–12–18; 8:45 am] 

BILLING CODE 7709–02–P 


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