30880 Federal Register / Vol. 65, No. 94 / Monday, May 15, 2000 / Rules and Regulations

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket No. 00–AGL–04]

Modification of Class E Airspace; Ely,

MN

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Final rule.

SUMMARY: This action modifies Class E

airspace Ely, MN. A VHF

Omnidirectional Range-A (VOR–A)

Standard Instrument Approach

Procedure (SIAP) has been developed

for Ely Municipal Airport, MN.

Controlled airspace extending upward

from the surface of the earth is needed

to contain aircraft executing this

approach. This action increases the

radius and adds an additional extension

to the existing Class E airspace for Ely

Municipal Airport.

EFFECTIVE DATE: 0901 U.T.C., August 10,

2000.

FOR FURTHER INFORMATION CONTACT:

Denis C. Burke, Air Traffic Division,

Airspace Branch, AGL–520, Federal

Aviation Administration, 2300 East

Devon Avenue, Des Plaines, Illinois

60018, telephone (847) 294–7568.

SUPPLEMENTARY INFORMATION:

History

On Friday, February 18, 2000, the

FAA proposed to amend 14 CFR part 71

to modify Class E airspace at Ely, MN

(65 FR 8324). The proposal was to

modify controlled airspace extending

upward from the surface to contain

Instrument Flight Rules (IFR) operations

in controlled airspace during portions of

the terminal operation and while

transiting between the enroute and

terminal environments. Interested

parties were invited to participate in

this rulemaking proceeding by

submitting written comments on the

proposal to the FAA. No comments

objecting to the proposal were received.

Class E airspace designated as surface

areas are published in paragraph 6002,

and Class E airspace areas extending

upward from 700 feet or more above the

surface of the earth are published in

paragraph 6005, of FAA Order 7400.9G

dated September 1, 1999, and effective

September 16, 1999, which is

incorporated by references in 14 CFR

71.1. The Class E airspace designations

listed in this document will be

published subsequently in the Order.

The Rule

This amendment to 14 CFR part 71

modifies Class E airspace at Ely, MN, to

accommodate aircraft executing

instrument flight procedures into and

out Ely Municipal Airport. The area will

be depicted on appropriate aeronautical

charts.

The FAA has determined that this

regulation only involves an established

body of technical regulations for which

frequent and routine amendments are

necessary to keep them operationally

current. Therefore, this regulation—(1)

Is not a ‘‘significant regulatory action’’

under Executive Order 12866; (2) is not

a ‘‘significant rule’’ under DOT

Regulatory Policies and Procedures (44

FR 11034; February 26, 1979); and (3)

does not warrant preparation of a

Regulatory Evaluation as the anticipated

impact is so minimal. Since this is a

routine matter that will only affect air

traffic procedures and air navigation, it

is certified that this rule will not have

a significant economic impact on a

substantial number of small entities

under the criteria of the Regulatory

Flexibility Act.

List of Subjects in 14 CFR Part 71

Airspace, Incorporation by reference,

Navigation (air).

Adoption of the Amendment

In consideration of the foregoing, the

Federal Aviation Administration

amends 14 CFR part 71 as follows:

PART 71—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS;

AIRWAYS; ROUTES; AND REPORTING

POINTS

1. The authority citation for part 71

continues to read as follows:

Authority: 49 U.S.C. 106(g), 40103, 40113,

40120; E.O. 10854, 24 FR 95665, 3 CFR,

1959–1963 Comp., p. 389.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9G, Airspace

Designations and Reporting Points,

dated September 1, 1999, and effective

September 16, 1999, is amended as

follows:

* * * * *

Paragraph 6002 Class E airspace designated

as a surface area.

* * * * *

AGL MN E2 Ely, MN [Revised]

Ely Municipal, MN

(Lat. 47° 49′ 28′′ N., long. 91° 49′ 51′′ W.)

Ely VOR/DME

(Lat. 47° 49′ 19′′ N., long. 91° 49′ 49′′ W.)

Within an 4.0-mile radius of the Ely

Municipal Airport, and within 2.4 miles each

side of the VOR/DME 108° radial extending

from the 4.0-mile radius to 7.0 miles

southeast of the VOR/DME, and within 2.4

miles each side of the VOR/DME 302° radial

extending from the 4.0-mile radius to 7.0

miles northwest of the VOR/DME, and within

2.4 miles each side of the VOR/DME 172°

radial extending from the 4.0-mile radius to

7.0 miles south of the VOR/DME. This Class

E airspace area is effective during the specific

dates and times established in advance by

Notice to Airmen. The effective date and time

will thereafter the continuously published in

the Airport/Facility Directory.

* * * * *

Paragraph 6005 Class E airspace areas

extending upward from 700 feet or more

above the surface of the earth.

* * * * *

AGL MN E5 Ely, MN [Revised]

Ely Municipal Airport, MN

(Lat. 47° 49′ 28′′ N., long. 91° 49′ 51′′ W.)

That airspace extending upward from 700

feet above the surface within an 7.7-mile

radius of the Ely Municipal Airport,

excluding that airspace within Prohibited

Area P–204.

* * * * *

Issued in Des Plaines, Illinois on April 26,

2000.

Christopher R. Blum,

Manager, Air Traffic Division.

[FR Doc. 00–12163 Filed 5–12–00; 8:45 am]

BILLING CODE 4910–13–M

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 June 2000. Interest assumptions

are also published on the PBGC’s web

site (http://www.pbgc.gov).

EFFECTIVE DATE: June 1, 2000.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Federal Register / Vol. 65, No. 94 / Monday, May 15, 2000 / Rules and Regulations 30881

Counsel, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005, 202–326–4024. (For TTY/TDD

users, call the Federal relay service tollfree 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). (See the PBGC’s two final

rules published March 17, 2000, in the

Federal Register (at 65 FR 14752 and

14753). Effective May 1, 2000, these

rules changed how the interest

assumptions are used and where they

are set forth in the PBGC’s regulations.)

Accordingly, 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 June 2000, (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 June

2000, 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 June 2000.

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 7.10

percent for the first 25 years following

the valuation date and 6.25 percent

thereafter. These interest assumptions

represent an increase (from those in

effect for May 2000) of 0.10 percent for

the first 25 years following the valuation

date and are otherwise unchanged.

The interest assumptions that the

PBGC will use for its own lump-sum

payments (set forth in Appendix B to

part 4022) will be 5.25 percent for the

period during which a benefit is in pay

status, 4.50 percent during the sevenyear period directly preceding the

benefit’s placement in pay status, and

4.00 percent during any other years

preceding the benefit’s placement in pay

status. These interest assumptions are

unchanged from those in effect for May

2000.

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, as

accurately as possible, current market

conditions.

Because of the need to provide

immediate guidance for the valuation

and payment of benefits in plans with

valuation dates during June 2000, the

PBGC finds that good cause exists for

making the assumptions set forth in 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

80, as set forth below, is added to the

table. (The introductory text of the table

is omitted.)

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

*******

80 ................. 6–1–00 7–1–00 5.25 4.50 4.00 4.00 7 8

3. In appendix C to part 4022, Rate Set 80, as set forth below, is added to the table. (The introductory text

of the table is omitted.)

Appendix C to Part 4022—Lump Sum Interest Rates For Private-Sector Payments

* * * * * * *

30882 Federal Register / Vol. 65, No. 94 / Monday, May 15, 2000 / Rules and Regulations

Rate set

For plans with a valuation

date Immediate

annuity rate

(percent)

Deferred annuities

(percent)

On or after Before i1 i2 i3 n1 n2

******

*

80 ................. 6–1–00 7–1–00 5.25 4.50 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, as set forth below, is added to the

table. (The introductory text of the table

is omitted.)

Appendix B to Part 4044—Interest Rates Used to Value Benefits

* * * * *

For valuation dates occurring in the month—

The values of it are:

it for t = it for t = it for t =

*******

June 2000 ......................................................................... .0710 1–25 .0625 >25 N/A N/A

Issued in Washington, DC, on this 8th day

of May 2000.

John Seal,

Acting Executive Director, Pension Benefit

Guaranty Corporation.

[FR Doc. 00–12089 Filed 5–12–00; 8:45 am]

BILLING CODE 7708–01–P

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 117

[CGD 08–00–009]

RIN 2115–AE47

Drawbridge Operation Regulation;

Upper Mississippi River

AGENCY: Coast Guard, DOT.

ACTION: Temporary final rule.

SUMMARY: The Commander, Eighth

Coast Guard District is temporarily

changing the regulation governing the

Rock Island Railroad & Highway

Drawbridge, across the Upper

Mississippi River at Mile 482.9, at Rock

Island, Illinois. The Drawbridge need

not open for river traffic and may

remain in the closed-to-navigation

position from 8 a.m. to 10 a.m. on May

14, 2000. This temporary rule is issued

to allow the scheduled running of a foot

race as part of a local community event.

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

Central Standard Time on May 14, 2000

to 10 a.m. Central Standard Time on

May 14, 2000.

ADDRESSES: Documents indicated in this

preamble as being available in the

docket, are part of docket CGD 08–00–

009 and are available for inspection or

copying at room 2.107f in the Robert A.

Young Federal Building at Eighth Coast

Guard District, Bridge Branch, 1222

Spruce Street, St. Louis, MO 63103–

2832, between 7 a.m. and 4 p.m.,

Monday through Friday, except Federal

holidays.

FOR FURTHER INFORMATION CONTACT: Mr.

Roger K. Wiebusch, Bridge

Administrator, Eighth Coast Guard

District, Bridge Branch, 1222 Spruce

Street, St. Louis, MO 63103–2832, at

(314) 539–3900, extension 378.

SUPPLEMENTARY INFORMATION:

Regulatory Information

We did not publish a notice of

proposed rulemaking (NPRM) for this

regulation. Under 5 U.S.C. 553(b)(B), the

Coast Guard finds that good cause exists

for not publishing an NPRM. This rule

is being promulgated without an NPRM

due to the short time frame allowed

between the submission of the request

by the U.S. Army and the date of the

event.

Under 5 U.S.C. 553(d)(3), the Coast

Guard finds that good cause exists for

making this rule effective less than 30

days after publication in the Federal

Register. This rule should be made

effective in less than 30 days due to the

short time frame allowed between the

submission of the request by the U.S.

Army and the date of the event.

Background and Purpose

On March 6, 2000, the Department of

Army Rock Island Arsenal requested a

temporary change to the operation of the

Rock Island Railroad & Highway

Drawbridge across the Upper

Mississippi River, Mile 482.9 at Rock

Island, Illinois. The Rock Island

Railroad Drawbridge navigation span

has a vertical clearance of 23.8 feet

above normal pool in the closed-tonavigation position. Navigation on the

waterway consists primarily of

commercial tows and recreational

watercraft. Presently, the draw opens on

signal for passage of river traffic. The

Rock Island Arsenal requested the

drawbridge be permitted to remain

closed-to-navigation from 8 a.m. until

10 a.m. on May 14, 2000. During this

time, a foot race will cross the bridge.

This temporary drawbridge operation

regulation has been coordinated with

the commercial waterway operators. No

objections to the proposed temporary

rule were raised.

Regulatory Evaluation

This rule is not a ‘‘significant

regulatory action’’ under section 3(f) of