Federal Register / Vol. 82, No. 134 / Friday, July 14, 2017 / Rules and Regulations 32463 

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. 

However, if a family becomes ineligible for 

the supportive services during their tenancy 

(for reasons other than successfully 

completing the supportive services 

objective), the unit will no longer be 

considered an excepted unit under this 

category. If the PHA does not want to reduce 

the number of excepted units in their projectbased portfolio, the PHA may: (i) Substitute 

the excepted unit for a non-excepted unit if 

it is possible to do so in accordance with 24 

CFR 983.207(a), so that the unit does not lose 

its excepted status, or (ii) temporarily remove 

the unit from the PBV HAP contract and 

provide the family with tenant-based 

assistance. Note that the family would have 

to be ineligible for all the supportive services 

made available for the unit to lose its 

excepted status. For example, consider a 

project where the supportive services made 

available to assisted families in the project 

include both FSS supportive services (for 

families that voluntarily join the FSS 

program) and non-FSS supportive services 

(where, unlike FSS, participation in 

supportive services is not mandatory). If a 

family joined the FSS program but later 

dropped out of the FSS program, the unit 

would continue to be an exception unit 

provided the family is eligible for the nonFSS supportive services. 

5. On page 5467, in the second 

column, paragraph B(3) is corrected by 

adding a new sentence at the end, to 

read as follows: 

‘‘For these projects, the project cap is the 

greater of 25 units or 40 percent (instead of 

25 percent) of the units in the project.’’ 

6. On page 5467, in the third column, 

the last sentence of paragraph (C) is 

corrected to read as follows: 

The PBV HAP contract may not be changed 

to the HOTMA requirement if the change 

would jeopardize an assisted family’s 

eligibility for continued assistance at the 

project (e.g., excepted units at the project 

included units designated for the disabled, 

and changing to the HOTMA standard would 

result in those units no longer being eligible 

as an excepted unit unless the owner will 

make supportive services available to all 

assisted families in the project. 

7. On page 5467, beginning in the 

third column, paragraph D(1)(b)(i) is 

corrected by adding at the end a new 

paragraph, to read as follows: 

(VII) Flexible Subsidy Program (section 201 

of the Housing and Community Development 

Amendments of 1978). 

8. On page 5468, in the second 

column, the second sentence of 

paragraph (b) is corrected by removing 

the parentheses and correcting it to read 

as follows: 

An expansion of or modification to the 

prior project’s site boundaries as a result of 

the design of the new construction project is 

acceptable as long as a majority of the 

replacement units are built back on the site 

of the original development and any units 

that are not built on the existing site share 

a common border with, are across a public 

right of way from, or touch that site. 

9. On page 5471, in the third column, 

the second paragraph of section 6 is 

corrected to read as follows: 

In order to be subject to this noncompetitive exception, the PHA must be 

planning: (A) rehabilitation or construction 

of the project or site with a minimum of 

$25,000 per unit in hard costs; or (B) 

replacement of the project or site with 

existing housing that substantially complies 

with HUD’s housing quality standards. The 

PHA must detail in its administrative plan 

how it intends to use PBVs to improve, 

develop, or replace any public housing 

property or site, and, if applicable, must 

detail what works it plans to do on the 

property or site and how many units of PBV 

it is planning an adding to the site. 

Dated: June 28, 2017. 

Jemine A. Bryon, 

General Deputy Assistant, Secretary for Public 

and Indian Housing. 

[FR Doc. 2017–14631 Filed 7–13–17; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

24 CFR Parts 982 and 983 

[Docket No. FR–5976–N–03] 

Housing Opportunity Through 

Modernization Act of 2016; 

Implementation of Various Section 8 

Voucher Provisions 

Correction 

Rule document 17–00911 was 

inadvertently published in the Proposed 

Rules section of the issue of Wednesday, 

January 18, 2017, beginning on page 

5458. It should have appeared in the 

Rules section. 

[FR Doc. C1–2017–00911 Filed 7–13–17; 8:45 am] 

BILLING CODE 1505–01–D 

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 

August 2017. The interest assumptions 

are used for paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. 

DATES: Effective August 1, 2017. 

FOR FURTHER INFORMATION CONTACT: 

Deborah C. Murphy (Murphy.Deborah@

pbgc.gov), Assistant General Counsel for 

Regulatory Affairs, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW., Washington, DC 20005, 202–326– 

4400 ext. 3451. (TTY/TDD users may 

call the Federal relay service toll-free at 

1–800–877–8339 and ask to be 

connected to 202–326–4400 ext. 3451.) 

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 August 2017.1

The August 2017 interest assumptions 

under the benefit payments regulation 

will be 0.75 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 July 2017, 

these assumptions represent a decrease 

of 0.25 percent in the immediate rate 

and are otherwise unchanged. 

PBGC has determined that notice and 

public comment on this amendment are 

impracticable and contrary to the public 

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32464 Federal Register / Vol. 82, No. 134 / Friday, July 14, 2017 / Rules and Regulations 

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 payment of 

benefits under plans with valuation 

dates during August 2017, 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 

286, 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

*******

286 8–1–17 9–1–17 0.75 4.00 4.00 4.00 7 8 

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

286, 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

*******

286 8–1–17 9–1–17 0.75 4.00 4.00 4.00 7 8 

Issued in Washington, DC. 

Deborah Chase Murphy, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2017–14541 Filed 7–13–17; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2017–0649] 

Drawbridge Operation Regulation; New 

Jersey Intracoastal Waterway (NJICW), 

Inside Thorofare, Atlantic City, NJ 

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 US40–322 

(Albany Avenue) Bridge which carries 

US 40 and US 322 across the NJICW 

(Inside Thorofare), mile 70.0, at Atlantic 

City, NJ. The deviation is necessary to 

facilitate the 7th Annual Atlantic City 

Triathlon. This deviation allows the 

bridge to remain in the closed-tonavigation position. 

DATES: The deviation is effective from 6 

a.m. to 1 p.m. on Saturday, August 5, 

2017. 

ADDRESSES: The docket for this 

deviation, [USCG–2017–0649] 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. Michael 

Thorogood, Bridge Administration 

Branch Fifth District, Coast Guard, 

telephone 757–398–6557, email 

Michael.R.Thorogood@uscg.mil. 

SUPPLEMENTARY INFORMATION: The 

DelMoSports, LLC, on behalf of the New 

Jersey Department of Transportation, 

owner and operator of the US40–322 

(Albany Avenue) Bridge that carries US 

40 and US 322 across the NJICW (Inside 

Thorofare), mile 70.0, at Atlantic City, 

NJ, has requested a temporary deviation 

from the current operating regulations to 

ensure the safety of the increased 

volumes of cyclists and spectators that 

will be participating in the 7th Annual 

Atlantic City Triathlon on Saturday 

August 5, 2017. The bridge is a double 

bascule drawbridge. The bridge has a 

vertical clearance of 10 feet above mean 

high water in the closed position and 

unlimited vertical clearance in the open 

position. 

The current operating regulation is set 

out in 33 CFR 117.733(f). Under this 

temporary deviation, the bridge will be 

maintained in the closed-to-navigation 

position from 6 a.m. to 1 p.m. on 

Saturday, August 5, 2017. 

The NJICW (Inside Thorofare) is used 

by recreational vessels. The Coast Guard 

has carefully considered the nature and 

volume of vessel traffic on the waterway 

in publishing this temporary deviation. 

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