61152 Federal Register / Vol. 62, No. 220 / Friday, November 14, 1997 / Notices

II

Section 70.24 of Title 10 of the Code

of Federal Regulations, ‘‘Criticality

Accident Requirements,’’ requires that

each licensee authorized to possess

special nuclear material maintain a

criticality accident monitoring system in

each area where such material is

handled, used, or stored. Subsections

(a)(1) and (a)(2) of 10 CFR 70.24 specify

detection and sensitivity requirements

that these monitors must meet.

Subsection (a)(1) also specifies that all

areas subject to criticality accident

monitoring must be covered by two

detectors. Subsection (a)(3) of 10 CFR

70.24 requires licensees to maintain

emergency procedures for each area in

which this licensed special nuclear

material is handled, used, or stored and

provides that (1) the procedures ensure

that all personnel withdraw to an area

of safety upon the sounding of a

criticality accident monitor alarm, (2)

the procedures must include drills to

familiarize personnel with the

evacuation plan, and (3) the procedures

designate responsible individuals for

determining the cause of the alarm and

placement of radiation survey

instruments in accessible locations for

use in such an emergency. Subsection

(b)(1) of 10 CFR 70.24 requires licensees

to provide the means for identifying

quickly any personnel who have

received a dose of 10 rads or more.

Subsection (b)(2) of 10 CFR 70.24

requires licensees to maintain personnel

decontamination facilities, to maintain

arrangements for a physician and other

medical personnel qualified to handle

radiation emergencies, and to maintain

arrangements for the transportation of

contaminated individuals to treatment

facilities outside the site boundary.

Paragraph (c) of 10 CFR 70.24 exempts

Part 50 licensees from the requirements

of paragraph (b) of 10 CFR 70.24 for

special nuclear material used or to be

used in the reactor. Subsection (d) of 10

CFR 70.24 states that any licensee that

believes that there is good cause why it

should be granted an exemption from all

or part of 10 CFR 70.24 may apply to the

Commission for such an exemption and

shall specify the reasons for the relief

requested.

III

The special nuclear material that

could be assembled into a critical mass

at DBNPS is in the form of nuclear fuel.

The quantity of special nuclear material

other than fuel that is stored onsite in

any given location is small enough to

preclude achieving a critical mass. The

Commission’s technical staff has

evaluated the possibility of an

inadvertent criticality of the nuclear fuel

at DBNPS and has determined that it is

extremely unlikely that such an

accident will occur if the licensees meet

the following seven criteria:

1. Only one new fuel assembly is

allowed out of a shipping cask or

storage rack at one time;

2. The k-effective does not exceed

0.95, at a 95% probability, 95%

confidence level, in the event that the

fresh fuel storage racks are filled with

fuel of the maximum permissible U–235

enrichment and flooded with pure

water;

3. If optimum moderation occurs at

low moderator density, the k-effective

does not exceed 0.98, at a 95%

probability, 95% confidence level, in

the event that the fresh fuel storage

racks are filled with fuel of the

maximum permissible U–235

enrichment and flooded with a

moderator at the density corresponding

to optimum moderation;

4. The k-effective does not exceed

0.95, at a 95% probability, 95%

confidence level, in the event that the

spent fuel storage racks are filled with

fuel of the maximum permissible U–235

enrichment and flooded with pure

water;

5. The quantity of special nuclear

material, other than nuclear fuel, stored

onsite in any given area is less than the

quantity necessary for a critical mass;

6. Radiation monitors, as required by

General Design Criterion 63, are

provided in fuel storage and handling

areas to detect excessive radiation levels

and to initiate appropriate safety

actions; and

7. The maximum nominal U–235

enrichment is limited to 5.0 weight

percent.

By letter dated January 30, 1997, as

supplemented May 28 and October 3,

1997, the licensees requested an

exemption from 10 CFR 70.24. In this

request, the licensees addressed the

seven criteria given above. The

Commission’s technical staff has

reviewed the licensees’ submittals and

has determined that DBNPS meets the

criteria for prevention of inadvertent

criticality. Therefore, the staff has

determined that it is extremely unlikely

an inadvertent criticality will occur in

the handling of special nuclear

materials or in their storage areas at

DBNPS.

The purpose of the criticality

monitors required by 10 CFR 70.24 is to

ensure that if a criticality were to occur

during the handling of special nuclear

material, personnel would be alerted to

that fact and would take appropriate

action. The staff has determined that it

is extremely unlikely that such an

accident could occur. Furthermore, the

licensees have radiation monitors, as

required by General Design Criterion 63,

in fuel storage and handling areas.

These monitors will alert personnel to

excessive radiation levels and allow

them to initiate appropriate safety

actions. The low probability of an

inadvertent criticality, together with the

licensees’ adherence to General Design

Criterion 63, constitutes good cause for

granting an exemption to the

requirements of 10 CFR 70.24.

The Commission has determined that

pursuant to 10 CFR 70.14, this

exemption is authorized by law, will not

endanger life or property or the common

defense and security, and is otherwise

in the public interest. Therefore, the

Commission hereby grants the licensees

an exemption from the requirements of

10 CFR 70.24 for DBNPS.

Pursuant to 10 CFR 51.32, the

Commission has determined that the

granting of this exemption will not

result in any significant adverse

environmental impact (62 FR 59908).

This exemption is effective upon

issuance.

Dated at Rockville, Maryland, this 7th day

of November 1997.

For the Nuclear Regulatory Commission.

Samuel J. Collins,

Director, Office of Nuclear Reactor

Regulation.

[FR Doc. 97–29977 Filed 11–13–97; 8:45 am]

BILLING CODE 7590–01–P

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 November 1997. The

interest assumptions for performing
Federal Register / Vol. 62, No. 220 / Friday, November 14, 1997 / Notices 61153

multiemployer plan valuations

following mass withdrawal under part

4281 apply to valuation dates occurring

in December 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. (For TTY and

TDD, call 800–877–8339 and request

connection 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 in

determining a single-employer plan’s

variable-rate premium. The rate is the

‘‘applicable percentage’’ (described in

the statute and the regulation) 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.

For plan years beginning before July

1, 1997, the applicable percentage of the

30-year Treasury yield was 80 percent.

The Retirement Protection Act of 1994

(RPA) amended ERISA section

4006(a)(3)(E)(iii)(II) to provide that the

applicable percentage is 85 percent for

plan years beginning on or after July 1,

1997, through (at least) plan years

beginning before January 1, 2000.

However, under section 774(c) of the

RPA, the application of the amendment

is deferred for certain regulated public

utility (RPU) plans for as long as six

months. The applicable percentage for

RPU plans will therefore remain 80

percent for plan years beginning before

January 1, 1998. (The rules governing

the applicable percentages for ‘‘partial’’

RPU plans are described in § 4006.5(g)

of the premium rates regulation.)

For plans for which the applicable

percentage is 85 percent, the assumed

interest rate to be used in determining

variable-rate premiums for premium

payment years beginning in November

1997 is 5.38 percent (i.e., 85 percent of

the 6.33 percent yield figure for October

1997).

The following table lists the assumed

interest rates to be used in determining

variable-rate premiums for premium

payment years beginning between

December 1996 and November 1997.

The rates for July through November

1997 in the table reflect an applicable

percentage of 85 percent and thus apply

only to non-RPU plans. However, the

rates for months before July 1997, which

reflect an applicable percentage of 80

percent, apply to RPU (and ‘‘partial’’

RPU) plans as well as to non-RPU plans.

For premium payment years beginning in:

The assumed interest

rate is:

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

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

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

March 1997 ................................... 5.35

April 1997 ...................................... 5.54

May 1997 ...................................... 5.67

June 1997 ..................................... 5.55

July 1997 ...................................... 5.75

August 1997 .................................. 5.53

September 1997 ........................... 5.59

October 1997 ................................ 5.53

November 1997 ............................ 5.38

For premium payment years

beginning in November 1997, the

assumed interest rate to be used in

determining variable-rate premiums for

RPU plans (determined using an

applicable percentage of 80 percent) is

5.06 percent. For ‘‘partial’’ RPU plans,

the assumed interest rates to be used in

determining variable-rate premiums can

be computed by applying the rules in

§ 4006.5(g) of the premium rates

regulation. The PBGC’s premium

payment instruction booklet also

describes these rules and provides a

worksheet for computing the assumed

rate.

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

December 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 10th day

of November 1997.

David M. Strauss,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 97–30044 Filed 11–13–97; 8:45 am]

BILLING CODE 7708–01–P

POSTAL SERVICE

United States Postal Service Board of

Governors; Sunshine Act Meeting;

Notification of Item Added to Meeting

Agenda

Date of Meeting: November 3, 1997.

Status: Closed.

Previous Announcement: 62 FR 55436,

October 24, 1997.

Change: At its meeting on November 3,

1997, the Board of Governors of the

United States Postal Service voted

unanimously to add an item to the

agenda of its closed meeting held on

that date:

Consideration of Amendment to Board

Bylaws.

Contact Person for More Information:

Thomas J. Koerber, Secretary of the

Board, U.S. Postal Service, 475 L’Enfant

Plaza, SW., Washington, DC 20260–

1000. Telephone (202) 268–4800.

Thomas J. Koerber,

Secretary.

[FR Doc. 97–30165 Filed 11–12–97; 3:07 pm]

BILLING CODE 7710–12–M

RAILROAD RETIREMENT BOARD

Sunshine Act Meeting

Notice is hereby given that the

Railroad Retirement Board will hold a

meeting on November 19, 1997, 9:00

a.m., at the Board’s meeting room on the

8th floor of its headquarters building,

844 North Rush Street, Chicago, Illinois,

60611. The agenda for this meeting

follows:

Portion Open to the Public

(1) Draft Bill—Exemption from Full

Rent

(2) Medicare contract fiscal year 1998

budget

(3) Coverage Determination—

Transportation Management

Services, Inc.

(4) Employee Service—Environmental

Contractors with CSX

Transportation Company

(5) Regulations—Part 220 (Subpart C,

Occupational Disability)

(6) Fiscal Year 1998 Performance

Appraisal Plans

(7) Year 2000 Issues

(8) Labor Member Truth in Budgeting

Status Report

Portion Closed to the Public

(A) 1997 Performance Appraisals

(B) Pending Board appeals:

1. Beverly J. Anderson

2. Martha G. Arnold

3. Sandra B. Banner