Federal Register / Vol. 75, No. 135 / Thursday, July 15, 2010 / Rules and Regulations 41091 

forecasts of Federal cash requirements 

in the ‘‘Remarks’’ section of the report. 

(2) Cash in hands of subgrantees. 

When considered necessary and feasible 

HUD may require grantees to report the 

amount of cash advances in excess of 

three days’ needs in the hands of their 

subgrantees or contractors and to 

provide short narrative explanations of 

actions taken by the grantee to reduce 

the excess balances. 

■ 12. In § 85.50, revise paragraph (b)(2), 

remove paragraph (b)(3), and 

redesignate paragraph (b)(4) as 

paragraph (b)(3) and paragraph (b)(5) as 

paragraph (b)(4) to read as follows: 

§ 85.50 Closeout. 

* * * * * 

(b) * * * 

(2) The Federal financial report form, 

as well as other forms prescribed by the 

program. 

* * * * * 

Dated: June 16, 2010. 

Shaun Donovan, 

Secretary. 

[FR Doc. 2010–17328 Filed 7–14–10; 8:45 am] 

BILLING CODE 4210–67–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 August 2010. Interest 

assumptions are also published on 

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

DATES: Effective August 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 August 2010, and 

(2) 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 PBGC’s historical 

methodology for valuation dates during 

August 2010. 

The interest assumptions that PBGC 

will use for its own lump-sum payments 

(set forth in Appendix B to part 4022) 

will be 2.25 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 July 2010, 

these interest assumptions represent a 

decrease 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 August 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 

202, 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


erowe on DSK5CLS3C1PROD with RULES
41092 Federal Register / Vol. 75, No. 135 / Thursday, July 15, 2010 / 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

* * * * * * * 

202 8–1–10 9–1–10 2.25 4.00 4.00 4.00 7 8 

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

202, 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

* * * * * * * 

202 8–1–10 9–1–10 2.25 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 7th day 

of July 2010. 

Vincent K. Snowbarger, 

Acting Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2010–17200 Filed 7–14–10; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

38 CFR Part 3 

RIN 2900–AN32 

Stressor Determinations for 

Posttraumatic Stress Disorder 

Correction 

In rule document 2010–16885 

beginning on page 39843 in the issue of 

Tuesday, July 13, 2010 make the 

following corrections: 

1. On page 39843, in the first column, 

under the DATES section, in the second 

line, ‘‘July 12, 2010’’ should read ‘‘July 

13, 2010’’. 

2. On the same page, in the same 

column, under the DATES section, in the 

first bulleted paragraph, in the first and 

second lines, ‘‘July 12, 2010’’ should 

read ‘‘July 13, 2010’’. 

3. On the same page, in the same 

column, under the DATES section, in the 

second bulleted paragraph, in the first 

and second lines, ‘‘July 12, 2010’’ should 

read ‘‘July 13, 2010’’. 

4. On the same page, in the same 

column, under the DATES section, in the 

third bulleted paragraph, in the third 

line, ‘‘July 12, 2010’’ should read ‘‘July 

13, 2010’’. 

5. On the same page, in the same 

column, under the DATES section, in the 

fourth bulleted paragraph, in the second 

line, ‘‘July 12, 2010’’ should read ‘‘July 

13, 2010’’. 

6. On the same page, in the second 

column, under the DATES section, in the 

first bulleted paragraph in the column, 

in the second line, ‘‘July 12, 2010’’ 

should read ‘‘July 13, 2010’’. 

7. On page 39851, in the second 

column, in the sixth line from the 

bottom, ‘‘July 12, 2010’’ should read 

‘‘July 13, 2010’’. 

8. On the same page, in the third 

column, in the 15th line from the top, 

‘‘July 12, 2010’’ should read ‘‘July 13, 

2010’’. 

9. On page 39852, in the third 

column, in the file line, the file date ‘‘7– 

9–10’’ is corrected to read ‘‘7–12–10’’. 

[FR Doc. C1–2010–16885 Filed 7–14–10; 8:45 am] 

BILLING CODE 1505–01–D 

FEDERAL COMMUNICATIONS 

COMMISSION 

47 CFR Part 73 

[DA 10–1146; MB Docket No. 09–180; RM– 

11569; RM–11570] 

FM TABLE OF ALLOTMENTS, 

Kingsland, Texas 

AGENCY: Federal Communications 

Commission 

ACTION: Final rule. 

SUMMARY: The Audio Division grants a 

Petition for Rule Making issued at the 

request of Katherine Pyeatt, proposing 

the allotment of Channel 284A at 

Kingsland, Texas, as its first local aural 

transmission service. The reference 

coordinates for Channel 284A at 

Kingsland are 30–40–03 NL and 98–28– 

29 WL, located 3.5 kilometers (2.2 

miles) west of Kingsland. Kingsland is 

located within 320 kilometers (199 

miles) of the U.S.–Mexican border. 

Although concurrence has been 

requested for Channel 284A at 

Kingsland, notification has not been 

received. If a construction permit is 

granted prior to the receipt of formal 

concurrence in the allotment by the 

Mexican government, the construction 

permit will include the following 

condition: ‘‘Operation with the facilities 

specified for Kingsland herein is subject 

to modification, suspension or, 

termination without right to hearing, if 

found by the Commission to be 

necessary in order to conform to the 

1992 USA–Mexico FM Broadcast 

Agreement.’’ 

DATES: Effective August 12, 2010. 

ADDRESSES: Federal Communications 

Commission, 445 12th Street, SW, 

Washington, DC 20554. 

FOR FURTHER INFORMATION CONTACT: 

Rolanda F. Smith, Media Bureau, (202) 

418–2180. 

SUPPLEMENTARY INFORMATION: This is a 

summary of the Commission’s Report 

and Order, MB Docket No. 09–180, 

adopted June 25, 2010, and released 

June 28, 2010. The full text of this 

Commission document is available for 

inspection and copying during normal 

business hours in the FCC Reference 

Information Center (Room CY–A257), 

445 12th Street, SW., Washington, DC. 

The complete text of this decision 

may also be purchased from the 

Commission’s copy contractor, Best 

Copy and Printing, Inc., 445 12th Street, 

SW, Room CY–B402, Washington, DC 

20554, 800–378–3160 or via the 

company’s website, <http:// 

www.bcpiweb.com>. 

The Commission will send a copy of 

this Report and Order in a report to be 

sent to Congress and the Government 

Accountability Office pursuant to the 

Congressional Review Act, see 5 U.S.C. 

§ 801(a)(1)(A). 


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