Federal Register / Vol. 73, No. 179 / Monday, September 15, 2008 / Rules and Regulations 53115 

write this down or print the page for 

your records. This information can be 

used to track your submission. 

To ensure proper receipt by the 

Department, identify the appropriate 

docket ID number in the subject line on 

the first page of your request or 

application. 

How Should I Submit Confidential 

Business Information (CBI) to the 

Agency? 

You should not submit information 

that you consider to be CBI through the 

electronic public docket in FDMS. If 

you wish to take advantage of the 

opportunity to electronically submit a 

conflict of law waiver request or an 

application for an equivalent alternative 

determination but a portion of your 

request or application contains CBI, 

then you should send by mail to the 

Aviation Enforcement Office the 

original document containing CBI and 

submit a second copy of the original 

document with the CBI redacted in 

FDMS. The date that you submit the 

document to FDMS will be considered 

the receipt date. 

The original document that you mail 

to the Aviation Enforcement Office 

should clearly indicate which material 

you believe contains confidential 

information. You can do this by marking 

‘‘confidential’’ on each page of the 

original document that you would like 

to keep confidential and highlighting or 

underlining the CBI. You will also need 

to explain why the information is 

confidential (as a trade secret, other 

confidential commercial information, or 

sensitive security information (SSI)). In 

your explanation, you should provide 

enough information to enable the 

Department to determine whether the 

information provided is protected by 

law and must be handled separately. 

Information not marked as CBI will be 

included in FDMS without prior notice. 

Also, if you do not provide an 

explanation of why the information is 

confidential you risk the Department 

including it in the public docket. The 

Department will also place in the public 

docket those portions of submissions 

that a carrier may have redacted but that 

the agency determines are not trade 

secrets, other confidential commercial 

information, or SSI. DOT’s policy is that 

waiver requests or applications for 

equivalent alternative determinations 

will be made available for public 

viewing in DOT’s electronic public 

docket (i.e., FDMS) as DOT receives 

them and without change, unless the 

request or application contains 

copyrighted material, CBI, or other 

information whose disclosure is 

restricted by statute. 

Dated: September 8, 2008. 

Samuel Podberesky, 

Assistant General Counsel for Aviation 

Enforcement and Proceedings, U.S. 

Department of Transportation. 

[FR Doc. E8–21204 Filed 9–12–08; 8:45 am] 

BILLING CODE 4910–9X–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Parts 4022 and 4044 

Benefits Payable in Terminated SingleEmployer Plans; Allocation of Assets 

in Single-Employer Plans; Interest 

Assumptions for Valuing and Paying 

Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: The Pension Benefit Guaranty 

Corporation’s regulations on Benefits 

Payable in Terminated Single-Employer 

Plans and Allocation of Assets in 

Single-Employer Plans prescribe interest 

assumptions for valuing and paying 

benefits under terminating singleemployer plans. This final rule amends 

the regulations to adopt interest 

assumptions for plans with valuation 

dates in October 2008. Interest 

assumptions are also published on the 

PBGC’s Web site (http://www.pbgc.gov). 

DATES: Effective October 1, 2008. 

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: The 

PBGC’s regulations prescribe actuarial 

assumptions—including interest 

assumptions—for valuing and paying 

plan benefits of terminating singleemployer plans covered by title IV of 

the Employee Retirement Income 

Security Act of 1974. The interest 

assumptions are intended to reflect 

current conditions in the financial and 

annuity markets. 

Three sets of interest assumptions are 

prescribed: (1) A set for the valuation of 

benefits for allocation purposes under 

section 4044 (found in Appendix B to 

part 4044), (2) a set for the PBGC to use 

to determine whether a benefit is 

payable as a lump sum and to determine 

lump-sum amounts to be paid by the 

PBGC (found in Appendix B to part 

4022), and (3) a set for private-sector 

pension practitioners to refer to if they 

wish to use lump-sum interest rates 

determined using the PBGC’s historical 

methodology (found in Appendix C to 

part 4022). 

This amendment (1) adds to 

Appendix B to part 4044 the interest 

assumptions for valuing benefits for 

allocation purposes in plans with 

valuation dates during October 2008, (2) 

adds to Appendix B to part 4022 the 

interest assumptions for the PBGC to 

use for its own lump-sum payments in 

plans with valuation dates during 

October 2008, and (3) adds to Appendix 

C to part 4022 the interest assumptions 

for private-sector pension practitioners 

to refer to if they wish to use lump-sum 

interest rates determined using the 

PBGC’s historical methodology for 

valuation dates during October 2008. 

For valuation of benefits for allocation 

purposes, the interest assumptions that 

the PBGC will use (set forth in 

Appendix B to part 4044) will be 6.18 

percent for the first 20 years following 

the valuation date and 5.25 percent 

thereafter. These interest assumptions 

represent a decrease (from those in 

effect for September 2008) of 0.06 

percent for the first 20 years following 

the valuation date and 0.06 percent for 

all years thereafter. 

The interest assumptions that the 

PBGC will use for its own lump-sum 

payments (set forth in Appendix B to 

part 4022) will be 3.25 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. These interest assumptions 

represent a decrease (from those in 

effect for September 2008) of 0.25 

percent in the immediate annuity rate 

and are otherwise unchanged. For 

private-sector payments, the interest 

assumptions (set forth in Appendix C to 

part 4022) will be the same as those 

used by the PBGC for determining and 

paying lump sums (set forth in 

Appendix B to part 4022). 

The 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 valuation 

and payment of benefits in plans with 

valuation dates during October 2008, 

the PBGC finds that good cause exists 

for making the assumptions set forth in 


jlentini on PROD1PC65 with RULES
53116 Federal Register / Vol. 73, No. 179 / Monday, September 15, 2008 / Rules and Regulations 

this amendment effective less than 30 

days after publication. 

The 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 

29 CFR Part 4022 

Employee benefit plans, Pension 

insurance, Pensions, Reporting and 

recordkeeping requirements. 

29 CFR Part 4044 

Employee benefit plans, Pension 

insurance, Pensions. 

■ In consideration of the foregoing, 29 

CFR parts 4022 and 4044 are 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 

180, as set forth below, is added to the 

table. 

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 i 1 i 2 i 3 n 1 n 2

* * * * * * * 

180 10–1–08 11–1–08 3.25 4.00 4.00 4.00 7 8 

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

180, as set forth below, is added to the 

table. 

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 i 1 i 2 i 3 n 1 n 2

* * * * * * * 

180 10–1–08 11–1–08 3.25 4.00 4.00 4.00 7 8 

PART 4044—ALLOCATION OF 

ASSETS IN SINGLE–EMPLOYER 

PLANS 

■ 4. The authority citation for part 4044 

continues to read as follows: 

Authority: 29 U.S.C. 1301(a), 1302(b)(3), 

1341, 1344, 1362. 

■ 5. In appendix B to part 4044, a new 

entry for October 2008, as set forth 

below, is added to the table. 

Appendix B to Part 4044—Interest 

Rates Used To Value Benefits 

* * * * * 

For valuation dates occurring in the month— 

The values of i t are: 

i t for t = i t for t = i t for t = 

* * * * * * * 

October 2008 .................................................................... .0618 1–20 .0525 >20 N/A N/A 

Issued in Washington, DC, on this 8th day 

of September 2008. 

Vincent K. Snowbarger, 

Deputy Director for Operations, Pension 

Benefit Guaranty Corporation. 

[FR Doc. E8–21415 Filed 9–12–08; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF LABOR 

Mine Safety and Health Administration 

30 CFR Part 49 

RIN 1219–AB56 

Mine Rescue Team Equipment 

AGENCY: Mine Safety and Health 

Administration (MSHA), Labor. 

ACTION: Final rule. 

SUMMARY: The final rule amends 

MSHA’s existing standards addressing 

mine rescue team equipment at mine 

rescue stations serving underground 

coal and metal and nonmetal mines. It 

updates the existing standards to reflect 

advances in mine rescue team 

equipment technology to increase safety 

and improve the effectiveness of mine 

rescue teams. 

DATES: This final rule is effective on 

November 14, 2008. 


jlentini on PROD1PC65 with RULES