Federal Register / Vol. 73, No. 129 / Thursday, July 3, 2008 / Rules and Regulations 38117 

financial accounting purposes but are 

treated as leases for Federal income tax 

purposes. 

(3) Examples 1 through 5 [Reserved]. 

For further guidance, see § 1.954–2(c)(3) 

Examples 1 through 5. 

Example 6. The facts are the same as in 

Example 2, except that controlled foreign 

corporation D purchases aircraft which it 

leases to others. If Corporation D incurs 

active leasing expenses, as defined in 

paragraph (c)(2)(iii) of this section, equal to 

or in excess of 10 percent of its adjusted 

leasing profit, as defined in paragraph 

(c)(2)(iv) of this section, the rental income of 

Corporation D from its leases with the 

unrelated foreign corporations is substantial 

and will be considered as derived in the 

active conduct of a trade or business for 

purposes of section 954(c)(2)(A). If a 

particular aircraft subject to lease was not 

used by the lessee corporation in foreign 

commerce, for example, because 50 percent 

or less of the miles during the taxable year 

were traversed outside the United States and 

the aircraft was located in the United States 

for 50 percent or more of the taxable year, 

Corporation D is not prevented from 

otherwise showing that it actively carries on 

a trade or business with regard to the rents 

derived from that aircraft, for example, based 

on its facts and circumstances, or as within 

the meaning of paragraph (c)(1)(i) or (iii) of 

this section. 

(d) through (h) [Reserved]. For further 

guidance, see § 1.954–2(d) through (h). 

(i)(1) Effective/applicability date. 

Paragraph (c) of this section applies to 

taxable years of controlled foreign 

corporations beginning on or after May 

2, 2006, and for tax years of United 

States shareholders with or within 

which such tax years of the controlled 

foreign corporations ends. Taxpayers 

may elect to apply paragraph (c) of this 

section to taxable years of controlled 

foreign corporations beginning after 

December 31, 2004, and for tax years of 

United States shareholders with or 

within which such tax years of the 

controlled foreign corporations end. If 

an election is made to apply paragraph 

(b)(1)(vi) of this section to taxable years 

beginning after December 31, 2004, then 

the election must also be made for 

paragraph (c) of this section. 

(2) Expiration date. The applicability 

of § 1.954–2T(c) will expire on July 1, 

2011. 

■ Par. 7. Section 1.956–2 is amended as 

follows: 

■ 1. Paragraph (b)(1)(vi) is revised. 

■ 2. Paragraph (e) is added. 

The revisions and addition read as 

follows: 

§ 1.956–2 Definition of United States 

property. 

* * * * * 

(b) * * * 

(1) * * * 

(vi) [Reserved]. For further guidance, 

see § 1.956–2T(b)(1)(vi). 

* * * * * 

(e) [Reserved]. For further guidance, 

see § 1.956–2T(e). 

■ Par. 8. Section 1.956–2T is amended 

as follows: 

■ 1. Paragraphs (a), (b), (b)(1)(i), 

(b)(1)(ii), (b)(1)(iii), (b)(1)(iv), (b)(1)(v), 

(b)(i)(vi), (c), (d) and (d)(1) are added. 

■ 2. Paragraph (e) is added. 

The revisions and addition read as 

follows: 

§ 1.956–2T Definition of United States 

property (temporary). 

(a) through (b)(1)(v) [Reserved]. For 

further guidance, see § 1.956–2(a) 

through (b)(1)(v). 

(vi) Any aircraft, railroad rolling 

stock, vessel, motor vehicle, or 

container used in the transportation of 

persons or property in foreign 

commerce and used predominantly 

outside the United States. Whether 

transportation property described in this 

subdivision is used in foreign commerce 

and predominantly outside the United 

States is to be determined from all the 

facts and circumstances of each case. As 

a general rule, such transportation 

property will be considered to be used 

predominantly outside the United States 

if 70 percent or more of the miles 

traversed (during the taxable year at the 

close of which a determination is made 

under section 956(a)(2)) in the use of 

such property are traversed outside the 

United States or if such property is 

located outside the United States 70 

percent of the time during such taxable 

year. Notwithstanding the above, an 

aircraft or vessel (as the term is defined 

in § 1.954–2T(c)(2)(ii)) is excluded from 

U.S. property if rents derived from 

leasing such aircraft or vessel are 

excluded from foreign personal holding 

company income under section 

954(c)(2)(A). See paragraph (e) of this 

section for the effective/applicability 

dates of this paragraph (b)(1)(vi). 

(c) through (d)(1) [Reserved]. For 

further guidance, see § 1.956–2(b)(1)(vii) 

through (d)(1). 

* * * * * 

(e) Effective/applicability date. 

Paragraph (b)(1)(vi) of this section 

applies to taxable years of controlled 

foreign corporations beginning on or 

after May 2, 2006, and for tax years of 

United States shareholders with or 

within which such tax years of the 

controlled foreign corporations end. 

Taxpayers may elect to apply the rule of 

this section to taxable years of 

controlled foreign corporations 

beginning after December 31, 2004, and 

for tax years of United States 

shareholders with or within which such 

tax years of foreign corporations end. If 

an election is made to apply § 1.954–

2T(c) to taxable years of a controlled 

foreign corporation beginning after 

December 31, 2004, then the election 

must also be made for paragraph 

(b)(1)(vi) of this section. 

(2) Expiration date. The applicability 

of paragraph (b)(1)(vi) of this section 

will expire on July 1, 2011. 

Approved: June 23, 2008. 

Linda E. Stiff, 

Deputy Commissioner for Services and 

Enforcement. 

Eric Solomon, 

Assistant Secretary of the Treasury (Tax 

Policy). 

[FR Doc. E8–14919 Filed 7–2–08; 8:45 am] 

BILLING CODE 4830–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4003 

RIN 1212–AB15 

Rules for Administrative Review of 

Agency Decisions 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: Pension Benefit Guaranty 

Corporation (PBGC) is amending its 

regulation on Administrative Review of 

Agency Decisions to clarify that the 

agency’s Appeals Board may refer 

certain categories of appeals to other 

PBGC departments for a written 

response and to remove determinations 

under section 4022A of the Employee 

Retirement Income Security Act of 1974 

(ERISA) from the scope of part 4003. 

The amendments also include minor 

clarifying and technical changes to the 

rules for administrative review of 

agency decisions. 

DATES: Effective August 4, 2008. 

FOR FURTHER INFORMATION CONTACT: 

Joseph J. Shelton, Attorney, Office of the 

General Counsel or Catherine B. Klion, 

Manager, Regulatory and Policy 

Division, Legislative and Regulatory 

Department, Pension Benefit Guaranty 

Corporation, 1200 K Street, NW., 

Washington, DC 20005–4026; 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: On 

October 18, 2007, PBGC published (at 

72 FR 59050) a proposed rule to amend 


jlentini on PROD1PC65 with RULES
38118 Federal Register / Vol. 73, No. 129 / Thursday, July 3, 2008 / Rules and Regulations 

PBGC’s regulation on Administrative 

Review of Agency Decisions (29 CFR 

part 4003) to clarify that the agency’s 

Appeals Board may refer certain 

categories of appeals to other PBGC 

departments for a written response, 

remove determinations under section 

4022A of ERISA from the scope of part 

4003, and make minor clarifying and 

technical changes to the rules for 

administrative review of agency 

decisions. PBGC received no public 

comments on the proposed rule and is 

finalizing the regulation as proposed. 

Background 

Current Rules for Administrative Review 

of Agency Decisions 

PBGC administers the pension plan 

termination insurance program under 

Title IV of ERISA. Under PBGC’s 

regulation for Administrative Review of 

Agency Decisions, persons aggrieved by 

certain PBGC determinations may 

appeal to the agency’s Appeals Board. 

29 CFR part 4003. 

The powers of the Appeals Board are 

set forth in, among other places, 

§ 4003.58 of the regulations. It states 

that ‘‘the Appeals Board may request the 

submission of any information or the 

appearance of any person it considers 

necessary to resolve a matter before it 

and to enter any order it considers 

necessary for or appropriate to the 

disposition of any matter before it.’’ 29 

CFR 4003.58. The decision of the 

Appeals Board constitutes final agency 

action by PBGC with respect to the 

determination which was the subject of 

the appeal and is binding on all parties 

who participated in the appeal. 29 CFR 

4003.59(b). 

The Appeals Board reviews the 

following categories of determinations: 

• Determinations that a plan is not 

covered under section 4021 of ERISA; 

• Determinations under section 

4022(a) or (c) or section 4022A(a) of 

ERISA with respect to benefit 

entitlement of participants and 

beneficiaries under covered plans and 

determinations that a domestic relations 

order is or is not a qualified domestic 

relations order under section 206(d)(3) 

of ERISA and section 414(p) of the 

Internal Revenue Code; 

• Determinations under section 

4022(b) or (c), section 4022A(b) through 

(e), or section 4022B of ERISA of the 

amount of benefits payable to 

participants and beneficiaries under 

covered plans; 

• Determinations of the amount of 

money subject to recapture under 

section 4045 of ERISA; 

• Determinations of the amount of 

liability under section 4062(b)(1), 

section 4063, or section 4064 of ERISA; 

and 

• Determinations that the amount of a 

participant’s or beneficiary’s benefit 

under section 4050(a)(3) of ERISA has 

been correctly computed based on the 

designated benefit paid to PBGC under 

section 4050(b)(2) of ERISA, or that the 

designated benefit is correct, but only to 

the extent that the benefit to be paid 

does not exceed the participant’s or 

beneficiary’s guaranteed benefit. 

29 CFR 4003.1(b)(5) through (b)(10). 

Additionally, nothing in part 4003 

limits the authority of PBGC to review, 

either upon request or on its own 

initiative, a determination to which part 

4003 does not apply when, in its 

discretion, it determines that it would 

be appropriate to do so. 29 CFR 

4003.1(c)(1). 

A person who is adversely affected by 

a determination involving any of the 

matters listed above has not exhausted 

his or her administrative remedies, and 

thus may not challenge the 

determination in court, until he or she 

has filed an appeal under § 4003.51 and 

a decision granting or denying the relief 

requested has been issued by the 

Appeals Board. 29 CFR 4003.7. An 

appeal must be filed within 45 days 

after the date of the determination being 

appealed, unless the appellant requests 

an extension of time to file within the 

45-day period and the request is 

granted. 29 CFR 4003.52, 4003.4, 

4003.5. 

An appeal must be in writing, be 

clearly designated as an appeal, contain 

a statement of the ground on which it 

is based and the relief sought, reference 

all pertinent information already in the 

possession of PBGC, and include any 

additional information or data that the 

appellant believes is relevant. 29 CFR 

4003.54. The filing of an appeal 

generally stays the effectiveness of a 

determination until a decision on the 

appeal has been issued by the Appeals 

Board. 29 CFR 4003.22(a), (b). 

Appeals Board’s Current Practice of 

Referring Certain Appeals to Other 

PBGC Departments 

This final regulation formalizes the 

Appeals Board’s practice of referring 

certain routine appeals, such as those 

that allege a mistake of fact or that 

request a more detailed benefit 

explanation, to other PBGC departments 

or Appeals Board staff for a written 

response. The practice began after the 

agency concluded that other PBGC 

departments, such as the Benefits 

Administration and Payment 

Department (BAPD), could handle these 

types of appeals efficiently given their 

familiarity with the relevant facts 

underlying the initial benefit 

determinations. 

At the same time, the agency 

concluded that it would be appropriate 

for Appeals Board staff (rather than the 

Appeals Board) to respond to untimely 

and premature appeals, as well as 

appeals alleging that benefit reductions 

required by law will work a financial 

hardship. Appeals Board staff provide 

support to the Appeals Board in the 

areas of receipt, review, and closing of 

appeals and other correspondence. 

Appeals Board staff also analyze 

incoming correspondence to determine 

whether it should be addressed by the 

Appeals Board as an appeal, referred to 

another PBGC department, such as 

BAPD, or retained by Appeals Board 

staff for response as an inquiry, 

extension request, or a request for 

additional information. 

In 2006, approximately 35% of the 

appeals received by the Appeals Board 

involved simple factual disputes, or 

requested only a more detailed 

explanation of a benefit determination. 

These appeals were referred to other 

PBGC departments for a response and 

were answered, on average, within 45 

days. In situations where PBGC’s initial 

determination is incorrect, BAPD can 

quickly resolve the matter, without the 

need for an Appeals Board decision, by 

issuing a corrected benefit 

determination. Similarly, if an appellant 

only requests—in the form of an 

appeal—a more detailed explanation of 

his or her initial benefit determination, 

BAPD can quickly provide a detailed 

explanation given its familiarity with 

the initial determination and the 

relevant participant data. 

Under current practice, when an 

appeal is referred to another PBGC 

department or Appeals Board staff for a 

written response, the time period for 

filing a request for Appeals Board 

review is extended for an additional 30 

days from the date of the written 

response. As discussed more fully 

below, under the final regulation, the 

time period for filing a request for 

Appeals Board review will be extended 

for an additional 45 days from the date 

of the PBGC department’s or Appeals 

Board staff’s written response. 

Summary of Amendments 

Powers of the Appeals Board 

The regulation amends § 4003.58 of 

the regulations to clarify that the 

Appeals Board may refer certain appeals 

to other PBGC departments or Appeals 

Board staff for a response. Appeals that 

will be subject to referral include those 

that (1) request an explanation of a 

covered initial benefit determination, (2) 


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Federal Register / Vol. 73, No. 129 / Thursday, July 3, 2008 / Rules and Regulations 38119 

dispute specific data used in a covered 

initial determination, such as date of 

hire, date of retirement, date of 

termination of employment, length of 

service, compensation, marital status, 

and the form of benefit elected; or (3) 

request an explanation of the limits on 

benefits payable by PBGC under part 

4022, subpart B, such as the maximum 

guaranteeable benefit and phase-in. 

The PBGC department’s or Appeals 

Board staff’s response will be in writing 

and address the matters raised in the 

appeal. Alternatively, appeals referred 

to BAPD may be answered in the form 

of a corrected benefit determination. 

The written response or corrected 

benefit determination will provide that 

the appellant may file a written request 

for review by the Appeals Board within 

45 days of the date of the written 

response or corrected benefit 

determination. If a written request for 

review is not filed with the Appeals 

Board within 45 days, the Appeals 

Board will not review the case and the 

initial determination or corrected 

benefit determination will become 

effective under § 4003.22(a). 

A written response or corrected 

benefit determination will not be a 

decision of the Appeals Board within 

the meaning of § 4003.59 of the 

regulations. Thus, a person who is 

issued such a response or corrected 

benefit determination will not have 

exhausted his or her administrative 

remedies under § 4003.7 of the 

regulations unless and until he or she 

files a request for review by the Appeals 

Board and a decision granting or 

denying the relief requested has been 

issued. 

Removal of Determinations Under 

ERISA Section 4022A 

Under PBGC’s multiemployer 

program, when a plan becomes 

insolvent, PBGC provides financial 

assistance to the plan sufficient to pay 

guaranteed benefits to participants and 

administrative expenses. Section 4022A 

of ERISA sets forth PBGC’s guarantee for 

multiemployer pension plan benefits. A 

multiemployer plan is considered 

insolvent if the plan is unable to pay 

benefits (at least equal to PBGC’s 

guaranteed benefit limit) when due. The 

plan must repay this financial assistance 

in accordance with terms and 

conditions specified by PBGC. 

Unlike the situation with singleemployer plans, however, PBGC does 

not trustee or otherwise assume 

responsibility for the liabilities of a 

financially troubled multiemployer 

plan. As a result, PBGC does not issue 

determinations under section 4022A of 

ERISA with respect to benefit 

entitlement of participants and 

beneficiaries. Accordingly, PBGC is 

amending § 4003.1(b)(6) and (7) to 

remove the reference to section 4022A. 

The effect of this amendment will be to 

remove determinations under section 

4022A from the scope of part 4003. 

Contents of Appeal 

Section 4003.54(3) and (4) of the 

regulation are amended to reflect the 

plain language used in the ‘‘Your Right 

to Appeal’’ brochure that currently 

accompanies all benefit determinations 

and is available on PBGC’s Web site, 

http://www.pbgc.gov. 

Section 4003.54(3) states that an 

appeal shall ‘‘[c]ontain a statement of 

the grounds upon which it is brought 

and the relief sought.’’ Addressing the 

same requirement, the brochure states 

that an appeal must ‘‘[s]pecifically 

explain why PBGC’s determination is 

wrong and the result you are seeking.’’

The regulation replaces the language in 

§ 4003.54(3) with language similar to 

that which is currently used in the 

brochure. 

PBGC is also amending § 4003.54(4) of 

the regulation, which states that an 

appeal shall ‘‘[r]eference all pertinent 

information already in the possession of 

the PBGC and include any additional 

information believed to be relevant.’’

Addressing the same requirement, the 

‘‘Your Right to Appeal’’ brochure states, 

in part, that an appeal must ‘‘[d]escribe 

the relevant information you believe is 

known by PBGC and include copies of 

documents that provide additional 

information that the Appeals Board 

should consider.’’ The final regulation 

replaces the language in § 4003.54(4) 

with language similar to that which is 

currently used in the brochure. 

Where To File 

PBGC is amending § 4003.53 of the 

regulations, which provides information 

on where to file an appeal, to remove 

the filing address for appeals and 

requests for filing extensions because it 

is no longer accurate. In its place, PBGC 

is incorporating § 4000.4, which 

provides general instructions on where 

to file submissions to PBGC. 

Replacing the Term ‘‘Executive 

Director’’ With ‘‘Director’’ in Part 4003 

On August 17, 2006, the President 

signed into law the Pension Protection 

Act of 2006, Public Law 109–280 (‘‘PPA 

2006’’). Section 411 of PPA 2006 

amended section 4002(a) of ERISA to 

state that PBGC shall be administered by 

a Director, who shall be appointed by 

the President, by and with the advice 

and consent of the Senate. Thus, PBGC 

is replacing all references to the term 

‘‘Executive Director’’ in part 4003 with 

the term ‘‘Director.’’ See §§ 4003.2 

(Definitions), 4003.4 (Extension of time); 

4003.33 (Where to submit request for 

reconsideration), 4003.35 (Final 

decision on request for reconsideration); 

and 4003.60 (Referral of appeal to the 

Executive Director). 

Applicability 

The amendments in this final rule are 

applicable to appeals filed on or after 

the effective date of the final rule. 

Compliance With Rulemaking 

Guidelines 

PBGC has determined that this action 

is not a ‘‘significant regulatory action’’

under the criteria set forth in Executive 

Order 12866. Pursuant to section 1(b)(1) 

of E.O. 12866 (as amended by Executive 

Order 13422), PBGC has determined 

that regulatory action is required in this 

area. Principally, this regulatory action 

is necessary to update PBGC’s rules for 

administrative review of agency 

decisions to accurately reflect the 

agency’s appeals handling procedures. 

In addition, because PBGC does not 

issue determinations under section 

4022A of ERISA with respect to benefit 

entitlement of participants and 

beneficiaries, the final rule removes 

determinations under section 4022A of 

ERISA from the scope of part 4003. 

Finally, the final rule contains minor 

clarifying and technical changes to the 

rules for administrative review of 

agency decisions that will streamline 

the appeals process and make the rules 

governing administrative appeals easier 

to understand. 

As a rule of agency organization, 

procedure, or practice, this rule is 

exempt from notice and public 

comment and delayed effective date 

requirements of section 553 of the 

Administrative Procedure Act. Because 

no general notice of proposed 

rulemaking was required, the Regulatory 

Flexibility Act does not apply to this 

rule. See 5 U.S.C. 601(2), 603, and 604. 

(Because the PBGC wished to provide 

an opportunity for public comment, the 

PBGC published a proposed rule). 

PBGC has determined that these 

changes do not modify the information 

collection requirements under 

Administrative Appeals (OMB control 

number 1212–0061, expires 1/31/10). 

List of Subjects in 29 CFR Part 4003 

Administrative practice and 

procedure, Organization and functions 

(Government agencies), Pension 

insurance, Pensions. 

■ For the reasons given above, PBGC is 

amending 29 CFR part 4003 as follows: 


jlentini on PROD1PC65 with RULES
38120 Federal Register / Vol. 73, No. 129 / Thursday, July 3, 2008 / Rules and Regulations 

PART 4003—RULES FOR 

ADMINISTRATIVE REVIEW OF 

AGENCY DECISIONS 

■ 1. The authority citation for part 4003 

continues to read as follows: 

Authority: 29 U.S.C. 1302(b)(3). 

§ 4003.1 [Amended] 

■ 2. In § 4003.1: 

■ a. Paragraph (b)(6) is amended by 

removing the words ‘‘or section 

4022A(a)’’. 

■ b. Paragraph (b)(7) is amended by 

removing the words ‘‘(c), section 

4022A(b) through (e), or’’ and adding in 

their place the words ‘‘(c) or’’. 

§ 4003.2 [Amended] 

■ 3. In § 4003.2: 

■ a. The definition of Appeals Board is 

amended by removing the word 

‘‘Executive’’. 

■ b. The definition of Director is 

amended by removing the word 

‘‘Executive’’ each place it appears in the 

definition. 

§ 4003.4 [Amended] 

■ 4. In § 4003.4, paragraph (b) 

introductory text is amended by 

removing the word ‘‘Executive’’. 

§ 4003.33 [Amended] 

■ 5. Section 4003.33 is amended by 

removing the word ‘‘Executive’’. 

§ 4003.35 [Amended] 

■ 6. In § 4033.35, paragraph (a)(2) is 

amended by removing the word 

‘‘Executive’’ each place it appears in the 

paragraph. 

§ 4003.53 [Amended] 

■ 7. Section 4003.53 is amended by 

removing the words ‘‘Appeals Board, 

Pension Benefit Guaranty Corporation, 

1200 K Street, NW., Washington, DC 

2005–4026’’ and adding in their place 

the words ‘‘Appeals Board’’. 

■ 8. In § 4003.54, paragraphs (a)(3) and 

(a)(4) are revised to read as follows: 

§ 4003.54 Contents of appeal. 

(a) * * * 

* * * * * 

(3) Specifically explain why PBGC’s 

determination is wrong and the result 

the appellant is seeking; 

(4) Describe the relevant information 

the appellant believes is known by 

PBGC, and summarize any other 

information the appellant believes is 

relevant. It is important to include 

copies of any documentation that 

support the appellant’s claim or the 

appellant’s assertions about this 

information; 

* * * * * 

■ 9. In § 4003.58: 

■ a. The existing text of the section is 

redesignated as paragraph (a). 

■ b. A new paragraph (b) is added to 

read as follows: 

§ 4003.58 Powers of the Appeals Board. 

* * * * * 

(b) The Appeals Board may refer 

certain appeals to another PBGC 

department or to Appeals Board staff to 

provide a response to the appellant. The 

response from another PBGC 

department or Board staff shall be in 

writing and address the matters raised 

in the appeal. The response may be in 

the form of an explanation or corrected 

benefit determination. In either case, the 

appellant will have 45 calendar-days 

from the date of the response to file a 

written request for review by the 

Appeals Board. If a written request for 

review is not filed with the Appeals 

Board within the 45-calendar-day 

period the determination shall become 

effective pursuant to § 4003.22(a). 

(1) Appeals that may be referred to 

another PBGC department or to the 

Board staff include those that—

(i) Request an explanation of the 

initial determination being appealed; 

(ii) Dispute specific data used in the 

determination, such as date of hire, date 

of retirement, date of termination of 

employment, length of service, 

compensation, marital status and form 

of benefit elected; or 

(iii) Request an explanation of the 

limits on benefits payable by PBGC 

under Part 4022, Subpart B, such as the 

maximum guaranteeable benefit and 

phase-in of the PBGC guarantee. 

(2) An explanation or corrected 

benefit determination issued under this 

subsection is not considered a decision 

of the Appeals Board. If an appellant 

aggrieved by PBGC’s initial 

determination is issued an explanation 

or corrected benefit determination 

under this section, the appellant has not 

exhausted his or her administrative 

remedies until the appellant has filed a 

timely request with the Appeals Board 

for review and the Appeals Board has 

issued a decision granting or denying 

the relief requested. See § 4003.7 of this 

part. 

■ 10. In § 4003.60: 

■ a. The section heading is amended by 

removing the word ‘‘Executive’’. 

■ b. The text of the section is amended 

by removing the word ‘‘Executive’’ each 

place it appears. 

Issued in Washington, DC, this 29th day of 

April, 2008. 

Elaine L. Chao, 

Chairman, Board of Directors, Pension Benefit 

Guaranty Corporation. 

Issued on the date set forth above pursuant 

to a resolution of the Board of Directors 

authorizing its Chairman to issue this final 

rule. 

Judith R. Starr, 

Secretary, Board of Directors, Pension Benefit 

Guaranty Corporation. 

[FR Doc. E8–15196 Filed 7–2–08; 8:45 am] 

BILLING CODE 7709–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket No. USCG–2008–0539] 

RIN 1625–AA00 

Security Zone; Thea Foss Waterway, 

Tacoma, WA 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The U.S. Coast Guard is 

establishing a temporary security zone 

in the Thea Foss Waterway, Tacoma, 

Washington during a reception at the 

Museum of Glass. This security zone is 

necessary to ensure the safety of 

dignitaries while attending the 

reception. Entry into, transit through, 

mooring, or anchoring within this zone 

is prohibited unless authorized by the 

Captain of the Port, Puget Sound or his 

designated representatives. 

DATES: This rule is effective from 6 p.m. 

(PDT) to 11:59 p.m. (PDT) on July 3, 

2008. 

ADDRESSES: Documents indicated in this 

preamble as being available in the 

docket are part of docket USCG–2008–

0539 and are available for inspection or 

copying at USCG Sector Seattle, 

Waterways Management Division 

between 8 a.m. and 4 p.m., Monday 

through Friday, except Federal holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions concerning this rule, 

call Ensign Heidi A. Bevis, Waterways 

Management Division, U.S. Coast Guard 

Sector Seattle, at 206–217–6147. 

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. Publishing 


jlentini on PROD1PC65 with RULES