47260 Federal Register / Vol. 71, No. 158 / Wednesday, August 16, 2006 / Notices 

Product Column A 

HTS 

Column B 

HTS 

This now becomes: .................................................................................................................................................. ........................ 9911.77.12 

And the applicable duty becomes: 7.5% ................................................................................................................. ........................ ........................

Susan C. Schwab, 

United States Trade Representative. 

[FR Doc. E6–13500 Filed 8–15–06; 8:45 am] 

BILLING CODE 3190–W6–P 

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 August 

2006. The interest assumptions for 

performing multiemployer plan 

valuations following mass withdrawal 

under part 4281 apply to valuation dates 

occurring in September 2006. 

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. The required interest rate is 

the ‘‘applicable percentage’’ (currently 

85 percent) of the annual yield on 30- 

year Treasury securities for the month 

preceding the beginning of the plan year 

for which premiums are being paid (the 

‘‘premium payment year’’). The required 

interest rate to be used in determining 

variable-rate premiums for premium 

payment years beginning in August 

2006 is 4.36 percent (i.e., 85 percent of 

the 5.13 percent Treasury Securities 

Rate for July 2006). 

The Pension Funding Equity Act of 

2004 (‘‘PFEA’’)—under which the 

required interest rate is 85 percent 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—applies only 

for premium payment years beginning 

in 2004 or 2005. Congress has passed 

legislation that would extend the PFEA 

rate for two more years. When that 

legislation is signed into law, the PBGC 

will promptly publish a Federal 

Register notice with the rate for August 

2006, as well as the rates for January 

through July 2006. 

The following table lists the required 

interest rates to be used in determining 

variable-rate premiums for premium 

payment years beginning between 

September 2005 and August 2006. 

For premium payment years beginning in: The required 

interest rate is: 

September 2005 .................................................................................................................................................................................. 4.61 

October 2005 ....................................................................................................................................................................................... 4.62 

November 2005 ................................................................................................................................................................................... 4.83 

December 2005 ................................................................................................................................................................................... 4.91 

January 2006 ....................................................................................................................................................................................... 3.95 

February 2006 ..................................................................................................................................................................................... 3.90 

March 2006 .......................................................................................................................................................................................... 3.89 

April 2006 ............................................................................................................................................................................................. 4.02 

May 2006 ............................................................................................................................................................................................. 4.30 

June 2006 ............................................................................................................................................................................................ 4.42 

July 2006 ............................................................................................................................................................................................. 4.39 

August 2006 ......................................................................................................................................................................................... 4.36 

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 

September 2006 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 August 2006. 

Vincent K. Snowbarger, 

Acting Executive Director, Pension Benefit 

Guaranty Corporation. 

[FR Doc. 06–6959 Filed 8–15–06; 8:45 am] 

BILLING CODE 7709–01–P 


jlentini on PROD1PC65 with NOTICES