33260 Federal Register / Vol. 72, No. 115 / Friday, June 15, 2007 / Notices 

and Security, to affirm the Facilities 

Branch Chief’s determination to deny or 

revoke an individual’s access to SGI is 

final and not subject to further 

administrative appeals. 

[FR Doc. E7–11574 Filed 6–14–07; 8:45 am] 

BILLING CODE 7590–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Submission of Information Collection 

for OMB Review; Comment Request; 

Procedures for Implementing 

Multiemployer Plan Elections 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of request for OMB 

approval. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (PBGC) is requesting that 

the Office of Management and Budget 

(OMB) approve, under the Paperwork 

Reduction Act, a collection of 

information under its procedures on 

multiemployer plan elections. This 

notice informs the public of the PBGC’s 

request and solicits public comment on 

the collection of information. 

DATES: Comments should be submitted 

by July 16, 2007. 

ADDRESSES: Comments should be sent to 

the Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Attention: Desk Officer for 

Pension Benefit Guaranty Corporation, 

via electronic mail at 

OIRA_DOCKET@omb.eop.gov or by fax 

to (202) 395–6974. 

Copies of the request for approval 

(including the procedures) may be 

obtained without charge by writing to 

the Disclosure Division of the Office of 

the General Counsel of PBGC at the 

above address, visiting the Disclosure 

Division, faxing a request to 202–326–

4042, or calling 202–326–4040 during 

normal business hours. (TTY and TDD 

users may call the Federal relay service 

toll-free at 1–800–877–8339 and ask to 

be connected to 202–326–4040.) The 

Disclosure Division will e-mail, fax, or 

mail the request to you, as you request. 

FOR FURTHER INFORMATION CONTACT: 

Constance Markakis, Attorney, 

Legislative and Regulatory Department, 

Pension Benefit Guaranty Corporation, 

1200 K Street, NW., Washington, DC 

20005–4026, 202–326–4000, ext. 6779. 

(For TTY and TDD, call 800–877–8339 

and request connection to 202–326–

4000, ext. 6779.) 

SUPPLEMENTARY INFORMATION: Section 

1106 of the Pension Protection Act of 

2006 (Pub. L. 109–280) (‘‘PPA 2006’’), as 

modified by Public Law 110–028, 

amends the definition of a 

‘‘multiemployer plan’’ in Title I of 

ERISA and the Internal Revenue Code of 

1986 to allow certain plans to elect to 

be multiemployer plans pursuant to 

procedures prescribed by PBGC. 

A plan is eligible for the election if it 

is (1) a plan revoking a previous election 

to remain a single-employer plan under 

section 3(37)(E) of ERISA, or (2) a plan 

with respect to which substantially all 

employer contributions were made by 

tax-exempt employers. In either case, for 

three prior plan years, the plan must 

have been a plan to which more than 

one employer was required to contribute 

that was maintained pursuant to one or 

more collective bargaining agreements. 

PPA 2006 also imposes other 

requirements for an election, and 

provides certain exemptions from the 

requirements. All elections must be 

made by August 17, 2007. 

PBGC procedures for implementing 

these multiemployer plan elections 

require a plan to submit specified 

information to PBGC to demonstrate 

that it meets the statutory eligibility 

requirements. On April 13, 2007 (72 FR 

18692), PBGC published a notice 

informing the public that it intended to 

request OMB approval of the procedures 

and soliciting public comment. PBGC 

received four comments on the 

procedures (posted on PBGC’s Web site 

at http://www.pbgc.gov/docs/ 

ppa1106.pdf). PBGC has revised the 

procedures, taking into account these 

comments and the statutory changes in 

Public Law 110–028. 

The PBGC is requesting that OMB 

approve this collection of information 

for three years. (Although plans must 

make an election by August 17, 2007, 

PBGC may request additional 

information, after that date, that is 

needed to review the election.) An 

agency may not conduct or sponsor, and 

a person is not required to respond to, 

a collection of information unless it 

displays a currently valid OMB control 

number. 

The PBGC estimates that 

approximately 35 plans will respond to 

this collection of information. The 

PBGC further estimates that the average 

burden of this collection of information 

will be 2.5 hours and $1,875 per plan, 

with an average total burden of 87.5 

hours and $65,625. 

Issued in Washington, DC, this 13th day of 

June, 2007. 

John H. Hanley, 

Director, Legislative and Regulatory 

Department Pension Benefit Guaranty 

Corporation. 

[FR Doc. E7–11691 Filed 6–14–07; 8:45 am] 

BILLING CODE 7709–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Required Interest Rate Assumption for 

Determining Variable-Rate Premium for 

Single-Employer Plans; 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 can be derived 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 Web 

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

DATES: The required interest rate for 

determining the variable-rate premium 

under part 4006 applies to premium 

payment years beginning in June 2007. 

The interest assumptions for performing 

multiemployer plan valuations 

following mass withdrawal under part 

4281 apply to valuation dates occurring 

in July 2007. 

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: 

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 (the 

‘‘required interest rate’’) in determining 

a single-employer plan’s variable-rate 

premium. Pursuant to the Pension 

Protection Act of 2006, for premium 

payment years beginning in 2006 or 

2007, the required interest rate is the 


jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 72, No. 115 / Friday, June 15, 2007 / Notices 33261 

1Public Law 109–435. 

‘‘applicable percentage’’ of the annual 

rate of interest determined by the 

Secretary of the Treasury on amounts 

invested conservatively in long-term 

investment grade corporate bonds for 

the month preceding the beginning of 

the plan year for which premiums are 

being paid (the ‘‘premium payment 

year’’). 

On February 2, 2007 (at 72 FR 4955), 

the Internal Revenue Service (IRS) 

published final regulations containing 

updated mortality tables for determining 

current liability under section 412(l)(7) 

of the Code and section 302(d)(7) of 

ERISA for plan years beginning on or 

after January 1, 2007. As a result, in 

accordance with section 

4006(a)(3)(E)(iii)(II) of ERISA, the 

‘‘applicable percentage’’ to be used in 

determining the required interest rate 

for plan years beginning in 2007 is 100 

percent. 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in June 2007 is 6.01 percent (i.e., 100 

percent of the 6.01 percent composite 

corporate bond rate for May 2007 as 

determined by the Treasury). 

The following table lists the required 

interest rates to be used in determining 

variable-rate premiums for premium 

payment years beginning between July 

2006 and June 2007. 

For premium payment 

years beginning in: 

The required interest rate is: 

July 2006 .......................... 5.36 

August 2006 ..................... 5.36 

September 2006 ............... 5.19 

October 2006 .................... 5.06 

November 2006 ................ 5.05 

December 2006 ................ 4.90 

January 2007 .................... 5.75 

February 2007 .................. 5.89 

March 2007 ....................... 5.85 

April 2007 ......................... 5.84 

May 2007 .......................... 5.98 

June 2007 ......................... 6.01 

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 July 

2007 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 12th day 

of June 2007. 

John H. Hanley, 

Director, Legislative and Regulatory 

Department Pension Benefit Guaranty 

Corporation. 

[FR Doc. E7–11560 Filed 6–14–07; 8:45 am] 

BILLING CODE 7709–01–P 

POSTAL REGULATORY COMMISSION 

[Docket No. RM2007–1; Order No. 19] 

Notice and Order 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice of field hearings. 

SUMMARY: Recent legislation alters the 

postal ratemaking process, and tasks the 

Postal Regulatory Commission to 

develop regulations to implement this 

process. This notice informs the public 

of field hearings that will be held to 

guide this process. 

DATES: 1. June 22, 2007: field hearing, 

Kansas City, MO (10 a.m.). 

2. June 28, 2007: field hearing, Los 

Angeles, CA. 

3. July 9, 2007: field hearing, 

Wilmington, DE. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http:// 

www.prc.gov. 

FOR FURTHER INFORMATION CONTACT: Ann 

Fisher, chief of staff, 202–789–6820 and 

ann.fisher@prc.gov, or Judy Grady, 

special assistant to the Chairman, 202–

789–6898 and judith.grady@prc.gov 

(logistics). 

SUPPLEMENTARY INFORMATION: 

Regulatory History 

1. 72 FR 5230 (February 5, 2007). 

2. 72 FR 29284 (May 25, 2007). 

I. Introduction 

The Postal Accountability and 

Enhancement Act (PAEA) was enacted 

December 20, 2006.1 The new law 

replaces the approach that has guided 

postal ratemaking and classification 

since 1970 with a comprehensive new 

framework. It charges the Postal 

Regulatory Commission (Commission) 

with developing a modern system of 

rate regulation to implement the new 

framework. To facilitate fulfilling this 

mandate, the Commission has 

established Docket No. RM2007–1 to 

receive written comments on the type 

and nature of rules needed to effectuate 

the transition to the new system. 

As part of this rulemaking docket, the 

Commission has invited mail users from 

a broad cross-section of the mailing 

community to testify at several public 

hearings in locations outside of 

Washington, DC. At this time, the 

following dates and locations have been 

identified: June 22, 2007 in Kansas City, 

Missouri; June 28, 2007 in Los Angeles, 

California; and July 9, 2007 in 

Wilmington, Delaware. Further details 

on the Kansas City hearing are provided 

in this notice; any changes related to 

that hearing and further details 

concerning the other field hearings will 

be posted on the Commission’s Web 

site, http://www.prc.gov. 

II. Information Applicable to All Field 

Hearings 

Format and record. The Commission 

has issued invitations to testify based 

largely on geographic location, the 

development of a full and complete 

record, and the need to meet statutory 

deadlines for issuing implementing 

regulations. Others who wish to submit 

comments or testimony may do so via 

the Commission’s electronic filing 

system. All comments and testimony 

received, including responses to 

questions from Commissioners, will be 

transcribed, posted on the Commission’s 

Web site, and used to inform the 

Commission’s decisions. The public is 

invited to attend the hearings. 

Special accommodations. It is the 

Commission’s understanding that each 

hearing room is handicapped accessible. 

Any member of the public who believes 

his or her attendance may require 

special accommodations is requested to 

contact Ann Fisher, chief of staff of the 

Postal Regulatory Commission, at 202–

789–6803 or ann.fisher@prc.gov, as soon 

as possible. 

III. Kansas City, Missouri Hearing 

The Kansas City field hearing will be 

held Friday, June 22, 2007 in Council 

Chambers, City Hall (26th Floor), 414 E. 

12th Street, Kansas City, Missouri 

64106. The hearing is scheduled to 

begin at 10 a.m. and conclude by 12 

noon. Scheduled witnesses include: 

Donald J. Hall, Jr., Vice Chairman, 

President and Chief Executive Officer, 

Hallmark Cards, Inc.; David Berry, Vice 

President, Community Publications Inc.; 

Mury L. Salls, Senior Vice President, 

DST Mailing Services; William S. 

Berkley, President and Chief Executive 

Officer, Tension Envelope Corporation; 

and Randy Stumbo, Director of 

Distribution and Postal Affairs, 

Meredith Corporation. 

Ordering Paragraphs 

It is ordered: 

1. The Commission will hold hearings 

in Kansas City, Missouri on June 22, 


jlentini on PROD1PC65 with NOTICES