Federal Register / Vol. 72, No. 220 / Thursday, November 15, 2007 / Notices 64253 

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 November 

2007. The interest assumptions for 

performing multiemployer plan 

valuations following mass withdrawal 

under part 4281 apply to valuation dates 

occurring in December 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 

‘‘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 November 2007 is 6.14 percent (i.e., 

100 percent of the 6.14 percent 

composite corporate bond rate for 

October 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 

December 2006 and November 2007. 

For premium payment years beginning in: The required interest rate is: 

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 

July 2007 ................................................................................................................................................................... 6.32 

August 2007 ............................................................................................................................................................... 6.33 

September 2007 ........................................................................................................................................................ 6.33 

October 2007 ............................................................................................................................................................. 6.23 

November 2007 ......................................................................................................................................................... 6.14 

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 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 8th day 

of November 2007. 

Vincent K. Snowbarger, 

Deputy Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E7–22327 Filed 11–14–07; 8:45 am] 

BILLING CODE 7709–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. IC–28045; 812–12984] 

BTOP50 Managed Futures Fund and 

Asset Alliance Advisors, Inc.; Notice of 

Application 

November 8, 2007. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of application for an 

order under section 6(c) of the 

Investment Company Act of 1940 

(‘‘Act’’) for an exemption from sections 

18(c) and 18(i) of the Act. 

SUMMARY OF APPLICATION: Applicants 

request an order to permit certain 

registered closed-end management 

investment companies to issue multiple 

classes of shares. 

APPLICANTS: BTOP50 Managed Futures 

Fund (‘‘Trust’’) and Asset Alliance 

Advisors, Inc. (‘‘Advisor’’). 

FILING DATES: The application was filed 

on June 9, 2003 and amended on 

December 9, 2003 and November 6, 

2007. 

HEARING OR NOTIFICATION OF HEARING: An 

order granting the requested relief will 


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