Federal Register / Vol. 75, No. 10 / Friday, January 15, 2010 / Rules and Regulations 2437 

final form. Although there is no formal 

comment period, public comments on 

this regulation are welcome on a 

continuing basis. Comments should be 

submitted to Sheila Quarterman, 

Regulatory Policy Division, Bureau of 

Industry and Security, U.S. Department 

of Commerce, 14th Street & 

Pennsylvania Avenue, NW., Room 2705, 

Washington, DC 20230. 

List of Subjects in 15 CFR Part 748 

Administrative practice and 

procedure, Exports, Reporting and 

recordkeeping requirements. 

■ Accordingly, part 748 of the Export 

Administrative Regulations (15 CFR 

Parts 730–774) is amended as follows: 

PART 748—[AMENDED] 

■ 1. The authority citation for 15 CFR 

part 748 continues to read as follows: 

Authority: 50 U.S.C. app. 2401 et seq.; 50 

U.S.C. 1701 et seq.; E.O. 13026, 61 FR 58767, 

3 CFR, 1996 Comp., p. 228; E.O. 13222, 66 

FR 44025, 3 CFR, 2001 Comp., p. 783; Notice 

of August 13, 2009, 74 FR 41325 (August 14, 

2009). 

■ 2. Supplement No. 7 to Part 748 is 

amended by adding an entry under 

‘‘China (People’s Republic of)’’ in 

alphabetical order to read as follows: 

SUPPLEMENT NO. 7 TO PART 748— 

AUTHORIZATION VALIDATED ENDUSER (VEU); LIST OF VALIDATED 

END-USERS, RESPECTIVE ITEMS 

ELIGIBLE FOR EXPORT, REEXPORT 

AND TRANSFER AND ELIGIBLE 

DESTINATIONS 

Country Validated end-user Eligible items (by ECCN) Eligible destination 

China (People’s Republic 

of) 

* * * * * * * 

Grace Semiconductor Manufacturing Corporation.1C350.c.3, 1C350.d.7, 2B230, 2B350.d.2, 2B350.g.3, 

2B350.i.4, 3B001.a.1, 3B001.b, 3B001.c, 3B001.d, 

3B001.e, 3B001.f, 3B001.h, 3C002, 3C004, 5B002, 

and 5E002 (limited to production technology for integrated circuits controlled by ECCNs 5A002 or 5A992 

that have been successfully reviewed under the 

encryption review process specified in sections 

740.17(b)(2) or 740.17(b)(3) and 742.15 of the EAR; 

Note also the guidance on cryptographic interfaces 

(OCI) in section 740.17(b) of the EAR).

1399 Zuchongzhi Road 

Zhangjiang Hi-Tech Park 

Shanghai, PR China 

201203. 

* * * * * * * 

Dated: January 12, 2010. 

Matthew S. Borman, 

Deputy Assistant Secretary for Export 

Administration. 

[FR Doc. 2010–725 Filed 1–14–10; 8:45 am] 

BILLING CODE 3510–33–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Valuing and Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: Pension Benefit Guaranty 

Corporation’s regulation on Benefits 

Payable in Terminated Single-Employer 

Plans prescribes interest assumptions 

for valuing and paying certain benefits 

under terminating single-employer 

plans. This final rule amends the benefit 

payments regulation to adopt interest 

assumptions for plans with valuation 

dates in February 2010. Interest 

assumptions are also published on 

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

DATES: Effective February 1, 2010. 

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: 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. 

These interest assumptions are found 

in two PBGC regulations: the regulation 

on Benefits Payable in Terminated 

Single-Employer Plans (29 CFR part 

4022) and the regulation on Allocation 

of Assets in Single-Employer Plans (29 

CFR part 4044). Assumptions under the 

asset allocation regulation are updated 

quarterly; assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates only 

the assumptions under the benefit 

payments regulation. 

Two sets of interest assumptions are 

prescribed under the benefit payments 

regulation: (1) a set for PBGC to use to 

determine whether a benefit is payable 

as a lump sum and to determine lumpsum amounts to be paid by PBGC (found 

in Appendix B to Part 4022), and (2) a 

set for private-sector pension 

practitioners to refer to if they wish to 

use lump-sum interest rates determined 

using PBGC’s historical methodology 

(found in Appendix C to Part 4022). 

This amendment (1) adds to 

Appendix B to Part 4022 the interest 

assumptions for PBGC to use for its own 

lump-sum payments in plans with 

valuation dates during February 2010, 

and (2) adds to Appendix C to Part 4022 

the interest assumptions for privatesector pension practitioners to refer to if 

they wish to use lump-sum interest rates 

determined using PBGC’s historical 

methodology for valuation dates during 

February 2010. 

The interest assumptions that PBGC 

will use for its own lump-sum payments 

(set forth in Appendix B to part 4022) 

will be 2.75 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 January 2010, 

these interest assumptions represent an 


erowe on DSK5CLS3C1PROD with RULES
2438 Federal Register / Vol. 75, No. 10 / Friday, January 15, 2010 / Rules and Regulations 

increase 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 PBGC for 

determining and paying lump sums (set 

forth in Appendix B to part 4022). 

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 February 2010, 

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 

196, 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 i1 i2 i3 n1 n2

* * * * * * * 

196 ............................................................................ 2–1–10 3–1–10 2.75 4.00 4.00 4.00 7 8 

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

196, 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 i1 i2 i3 n1 n2

* * * * * * * 

196 ............................................................................ 2–1–10 3–1–10 2.75 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 8th day 

of January 2010. 

Vincent K. Snowbarger, 

Acting Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2010–583 Filed 1–14–10; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket No. USCG–2009–1060] 

RIN 1625–AA00 

Safety Zone; Havasu Landing Annual 

Regatta; Colorado River, Lake Havasu 

Landing, CA 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a temporary safety zone on 

Lake Havasu, California in support of 

the Havasu Landing Annual Regatta. 

This temporary safety zone is necessary 

to provide for the safety of the 

participants, crew, spectators, 

participating vessels, and other vessels 

and users of the waterway. Persons and 

vessels are prohibited from entering 

into, transiting through, or anchoring 

within this safety zone unless 

authorized by the Captain of the Port, or 

his designated representative. 

DATES: This rule is effective from 8 a.m. 

until 4 p.m., on January 16 and 17, 

2010. 

ADDRESSES: Documents indicated in this 

preamble as being available in the 

docket are part of docket USCG–2009– 

1060 and are available online by going 

to http://www.regulations.gov, inserting 

USCG–2009–1060 in the ‘‘Keyword’’ 

box, and then clicking ‘‘Search.’’ They 

are also available for inspection or 

copying at the Docket Management 

Facility (M–30), U.S. Department of 

Transportation, West Building Ground 

Floor, Room W12–140, 1200 New Jersey 

Avenue, SE., Washington, DC 20590, 

between 9 a.m. and 5 p.m., Monday 

through Friday, except Federal holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this temporary 

rule, call or e-mail Petty Officer Corey 

McDonald, Waterways Management, 

U.S. Coast Guard Sector San Diego, 

Coast Guard; telephone 619–278–7262, 

e-mail Corey.R.McDonald@uscg.mil. If 

you have questions on viewing the 

docket, call Renee V. Wright, Program 

Manager, Docket Operations, telephone 

202–366–9826. 

SUPPLEMENTARY INFORMATION: 


erowe on DSK5CLS3C1PROD with RULES