2088 Federal Register / Vol. 81, No. 10 / Friday, January 15, 2016 / Rules and Regulations 

1Appendix B to PBGC’s regulation on Allocation 

of Assets in Single-Employer Plans (29 CFR part 

4044) prescribes interest assumptions for valuing 

benefits under terminating covered single-employer 

plans for purposes of allocation of assets under 

ERISA section 4044. Those assumptions are 

updated quarterly. 

Sections 12.104 through 12.104i also 

issued under 19 U.S.C. 2612; 

* * * * * 

§ 12.104g [Amended] 

■ 2. In § 12.104g, paragraph (a), the table 

is amended in the entry for Italy by 

removing the reference to ‘‘CBP Dec. 

11–03’’ and adding in its place ‘‘CBP 

Dec. 16–02’’. 

R. Gil Kerlikowske, 

Commissioner, U.S. Customs and Border 

Protection. 

Approved: January 12, 2016. 

Timothy E. Skud, 

Deputy Assistant Secretary of the Treasury. 

[FR Doc. 2016–00735 Filed 1–14–16; 8:45 am] 

BILLING CODE 9111–14–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9745] 

RIN 1545–BL43 

Minimum Value of Eligible EmployerSponsored Plans and Other Rules 

Regarding the Health Insurance 

Premium Tax Credit; Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Final regulations; correcting 

amendment. 

SUMMARY: This document contains 

corrections to final regulations (TD 

9745) that were published in the 

Federal Register on Friday, December 

18, 2015 (80 FR 78971). The final 

regulations are on the health insurance 

premium tax credit enacted by the 

Patient Protection and Affordable Care 

Act and the Health Care and Education 

Reconciliation Act of 2010, as amended 

by the Medicare and Medicaid 

Extenders Act of 2010, the 

Comprehensive 1099 Taxpayer 

Protection and Repayment of Exchange 

Subsidy Overpayments Act of 2011, and 

the Department of Defense and Full 

Year Continuing Appropriations Act, 

2011. 

DATES: This correction is effective 

January 15, 2016 and applicable 

December 18, 2015. 

FOR FURTHER INFORMATION CONTACT: 

Shareen Pflanz at (202) 317–4718 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulations (TD 9745) that 

are the subject of this correction are 

under section 36B of the Internal 

Revenue Code. 

Need for Correction 

As published, the final regulations 

(TD 9745) contains an error that may 

prove to be misleading and is in need 

of clarification. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

Correction of Publication 

Accordingly, 26 CFR part 1 is 

corrected by making the following 

correcting amendment: 

PART 1—INCOME TAXES 

■ Paragraph 1. The authority citation 

for part 1 continues to read in part as 

follows: 

Authority: 26 U.S.C. 7805 * * * 

■ Par. 2. Section 1.36B–3 is amended by 

revising paragraph (d)(2)(i)(A) to read as 

follows: 

§ 1.36B–3 Computing the premium 

assistance credit amount. 

* * * * * 

(d) * * * 

(2) * * * 

(i) * * * 

(A) The enrollment premiums for the 

month (reduced by any amounts that 

were refunded); or 

* * * * * 

Martin V. Franks, 

Chief, Publications and Regulations Branch, 

Legal Processing Division, Associate Chief 

Counsel, (Procedure and Administration). 

[FR Doc. 2016–00701 Filed 1–14–16; 8:45 am] 

BILLING CODE 4830–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans to 

prescribe interest assumptions under 

the regulation for valuation dates in 

February 2016. The interest 

assumptions are used for paying 

benefits under terminating singleemployer plans covered by the pension 

insurance system administered by 

PBGC. 

DATES: Effective February 1, 2016. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion (Klion.Catherine@

pbgc.gov), Assistant General Counsel for 

Regulatory Affairs, 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 

regulation on Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR part 4022) prescribes actuarial 

assumptions—including interest 

assumptions—for paying plan benefits 

under terminating single-employer 

plans covered by title IV of the 

Employee Retirement Income Security 

Act of 1974. The interest assumptions in 

the regulation are also published on 

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

PBGC uses the interest assumptions in 

Appendix B to Part 4022 to determine 

whether a benefit is payable as a lump 

sum and to determine the amount to 

pay. Appendix C to Part 4022 contains 

interest assumptions for private-sector 

pension practitioners to refer to if they 

wish to use lump-sum interest rates 

determined using PBGC’s historical 

methodology. Currently, the rates in 

Appendices B and C of the benefit 

payment regulation are the same. 

The interest assumptions are intended 

to reflect current conditions in the 

financial and annuity markets. 

Assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates the 

benefit payments interest assumptions 

for February 2016.1

The February 2016 interest 

assumptions under the benefit payments 

regulation will be 1.25 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. In comparison with the interest 

assumptions in effect for January 2016, 

these interest assumptions are 

unchanged. 

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 


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Federal Register / Vol. 81, No. 10 / Friday, January 15, 2016 / Rules and Regulations 2089 

the assumptions can reflect current 

market conditions as accurately as 

possible. 

Because of the need to provide 

immediate guidance for the payment of 

benefits under plans with valuation 

dates during February 2016, 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 

268, 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

*******

268 2–1–16 3–1–16 1.25 4.00 4.00 4.00 7 8 

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

268, 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

*******

268 2–1–16 3–1–16 1.25 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 11th day 

of January 2016. 

Philip R. Hertz, 

Deputy General Counsel, Pension Benefit 

Guaranty Corporation. 

[FR Doc. 2016–00725 Filed 1–14–16; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2016–0021] 

Drawbridge Operation Regulation; 

Lake Washington Ship Canal, Seattle, 

WA 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of deviation from 

drawbridge regulation. 

SUMMARY: The Coast Guard has issued a 

temporary deviation from the operating 

schedule that governs the Montlake 

Bridge across the Lake Washington Ship 

Canal, mile 5.2, at Seattle, WA. The 

deviation is necessary to allow the 

bridge to operate in single leaf mode 

during day light hours, and a full 

closure (both bascule leafs in the closedto-navigation position) during night 

time hours while work crews replace 

bridge decking. This deviation allows a 

single leaf opening with a one hour 

advance notice during the day, and 

remains in the closed-to-navigation 

position at night. 

DATES: This deviation is effective from 

6 a.m. on February 27, 2016 to 6 p.m. 

on February 28, 2016. 

ADDRESSES: The docket for this 

deviation, [USCG–2016–0021] is 

available at http://www.regulations.gov. 

Type the docket number in the 

‘‘SEARCH’’ box and click ‘‘SEARCH.’’ 

Click on Open Docket Folder on the line 

associated with this deviation. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this temporary 

deviation, call or email Mr. Steven 

Fischer, Bridge Administrator, 

Thirteenth Coast Guard District; 

telephone 206–220–7282, email d13-pfd13bridges@uscg.mil. 

SUPPLEMENTARY INFORMATION: 

Washington Department of 

Transportation has requested a 

temporary deviation from the operating 

schedule for the Montlake Bridge across 

the Lake Washington Ship Canal, at 

mile 5.2, at Seattle, WA. The deviation 

is necessary to accommodate work 

crews conducting timely bridge deck 

repairs. 

The Montlake Bridge in the closed 

position provides 30 feet of vertical 

clearance throughout the navigation 

channel, and 46 feet of vertical 

clearance throughout the center 60 feet 

of the bridge; vertical clearance 

references to the Mean Water Level of 

Lake Washington. When half the span is 

open with a single leaf, 46 feet of 

vertical clearance will be reduced 


Lhorne on DSK5TPTVN1PROD with RULES