2016 Federal Register / Vol. 62, No. 10 / Wednesday, January 15, 1997 / Rules and Regulations

Substances Limitations

* * * * *

Di-tert-butylphenyl phosphonite condensation product with biphenyl

(CAS Reg. No. 119345–01–6) produced by the condensation of 2,4-

di-tert-butylphenol with the Friedel-Crafts addition product (phosphorus trichloride and biphenyl) so that the food additive has a minimum phosphorus content of 5.4 percent, an acid value not exceeding

10 mg KOH/gm, and a melting range of 85 °C to 110 °C (185 °F to

230 °F).

For use only:

1. At levels not to exceed 0.1 percent by weight of olefin polymers

complying with § 177.1520(c) of this chapter, items 1.1, 1.2, 1.3,

3.2b, 3.3a, 3.3b, 3.4, 3.5, and 3.1a (where the density is not less

than 0.85 gram per cubic centimeter and not more than 0.91 gram

per cubic centimeter); and 2.1, 2.2, 2.3, 3.1a, 3.1b, 3.2a, and 3.6

(where the density is not less than 0.94 gram per cubic centimeter)

and 5.

* * * * *

4. At levels not to exceed 0.15 percent by weight of olefin polymers

complying with § 177.1520(c) of this chapter, items 2.1, 2.2, 2.3,

3.1a, 3.1b, 3.2a, 3.4, 3.5, and 3.6 (where the polyethylene component has a density less than 0.94 gram per cubic centimeter).

5. At levels not to exceed 0.1 percent by weight of repeated use rubber articles complying with § 177.2600 of this chapter.

* * * * *

Dated: December 19, 1996.

Fred R. Shank,

Director, Center for Food Safety and Applied

Nutrition.

[FR Doc. 97–946 Filed 1–14–97; 8:45 am]

BILLING CODE 4160–01–F

PENSION BENEFIT GUARANTY

CORPORATION

29 CFR Part 4044

Allocation of Assets in SingleEmployer Plans; Interest Assumptions

for Valuing Benefits

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Final rule.

SUMMARY: The Pension Benefit Guaranty

Corporation’s regulation on Allocation

of Assets in Single-Employer Plans

prescribes interest assumptions for

valuing benefits under terminating

single-employer plans. This final rule

amends the regulation to adopt interest

assumptions for plans with valuation

dates in February 1997.

EFFECTIVE DATE: February 1, 1997.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Counsel, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005, 202–326–4024 (202–326–4179

for TTY and TDD).

SUPPLEMENTARY INFORMATION: The

PBGC’s regulation on Allocation of

Assets in Single-Employer Plans (29

CFR part 4044) prescribes actuarial

assumptions for valuing plan benefits of

terminating single-employer plans

covered by title IV of the Employee

Retirement Income Security Act of 1974.

Among the actuarial assumptions

prescribed in part 4044 are interest

assumptions. These interest

assumptions are intended to reflect

current conditions in the financial and

annuity markets.

Two sets of interest assumptions are

prescribed, one set for the valuation of

benefits to be paid as annuities and one

set for the valuation of benefits to be

paid as lump sums. This amendment

adds to appendix B to part 4044 the

annuity and lump sum interest

assumptions for valuing benefits in

plans with valuation dates during

February 1997.

For annuity benefits, the interest

assumptions will be 5.90 percent for the

first 25 years following the valuation

date and 5.00 percent thereafter. For

benefits to be paid as lump sums, the

interest assumptions to be used by the

PBGC will be 4.75 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. The above annuity interest

assumptions represent an increase (from

those in effect for January 1997) of 0.10

percent for the first 25 years following

the valuation date and are otherwise

unchanged. The lump sum interest

assumptions represent an increase (from

those in effect for January 1997) of .25

percent for the period during which a

benefit is in pay status and are

otherwise unchanged.

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 of

benefits in plans with valuation dates

during February 1997, 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 in 29 CFR Part 4044

Pension insurance, Pensions.

In consideration of the foregoing, 29

CFR part 4044 is amended as follows:

PART 4044—[AMENDED]

1. The authority citation for part 4044

continues to read as follows:

Authority: 29 U.S.C. 1301(a), 1302(b)(3),

1341, 1344, 1362.

2. In appendix B, a new entry is

added to Table I, and Rate Set 40 is

added to Table II, as set forth below.

The introductory text of each table is

republished for the convenience of the

reader and remains unchanged.
Federal Register / Vol. 62, No. 10 / Wednesday, January 15, 1997 / Rules and Regulations 2017

Appendix B to Part 4044—Interest Rates Used To Value Annuities and Lump Sums

Table I.—Annuity Valuations

[This table sets forth, for each indicated calendar month, the interest rates (denoted by i1, i2, * * *, and referred to generally

as it) assumed to be in effect between specified anniversaries of a valuation date that occurs within that calendar month; those

anniversaries are specified in the columns adjacent to the rates. The last listed rate is assumed to be in effect after the last listed

anniversary date.]

For valuation dates occurring in the month—

The values of it are:

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

* * * * * * *

February 1997 ....................................................................... .0590 1–25 .0500 >25 N/A N/A

Table II.—Lump Sum Valuations

[In using this table: (1) For benefits for which the participant or beneficiary is entitled to be in pay status on the valuation

date, the immediate annuity rate shall apply; (2) For benefits for which the deferral period is y years (where y is an integer and

0 < y ≤ n1), interest rate i1 shall apply from the valuation date for a period of y years, and thereafter the immediate annuity rate

shall apply; (3) For benefits for which the deferral period is y years (where y is an integer and n1 < y ≤ n1 + n2), interest rate

i2 shall apply from the valuation date for a period of y—n1 years, interest rate i1 shall apply for the following n1 years, and thereafter

the immediate annuity rate shall apply; (4) For benefits for which the deferral period is y years (where y is an integer and y >

n1 + n2), interest rate i3 shall apply from the valuation date for a period of y—n1—n2 years, interest rate i2 shall apply for the

following n2 years, interest rate i1 shall apply for the following n1 years, and thereafter the immediate annuity rate shall apply.]

Rate set

For plans with a valuation

date Immediate

annuity rate

(percent)

Deferred annuities (percent)

On or after Before i1 i2 i3 n1 n2

* * * * * * *

40 ................................................................ 02–1–97 03–1–97 4.75 4.00 4.00 4.00 7 8

Issued in Washington, DC, on this 10th day

of January 1997.

Martin Slate,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 97–1062 Filed 1–14–97; 8:45 am]

BILLING CODE 7708–01–P

DEPARTMENT OF DEFENSE

Office of the Secretary

32 CFR Part 150

Courts of Criminal Appeals Rules of

Practice and Procedure

AGENCY: Defense.

ACTION: Final rule.

SUMMARY: This rule of practice and

procedure is issued pursuant to Article

66(f), Uniform Code of Military Justice

(10 U.S.C. 866(f) (1994)). It is a uniform

rule of practice and procedure for all

military Courts of Criminal Appeals.

EFFECTIVE DATE: May 1, 1996.

FOR FURTHER INFORMATION CONTACT:

Colonel Charles B. Heimburg—(202)

767–1550, 172 Luke Avenue, Bolling

Air Force Base, Washington, D.C. 20332.

SUPPLEMENTARY INFORMATION: The

anticipated citation of the rules will be

32 CFR Part 150. The notification of

opportunity to review and comment on

these rules was published in the Federal

Register on December 13, 1995 at 60 FR

64031–02. Comments were received and

considered.

These rules are not subject to

Executive Order 12866, ‘‘Regulatory

Planning and Review,’’ Public Law 96–

354, ‘‘Regulatory Flexibility Act;’’ or

Public Law 96–511, ‘‘Paperwork

Reduction Act.’’

List of Subjects in 32 CFR Part 150

Administrative practice and

procedure, Courts, Military law.

Accordingly, 32 CFR part 150 is

revised to read as follows:

PART 150—COURTS OF CRIMINAL

APPEALS RULES OF PRACTICE AND

PROCEDURE

Sec.

150.1 Name and seal.

150.2 Jurisdiction.

150.3 Scope of review.

150.4 Quorum.

150.5 Place for filing papers.

150.6 Signing of papers.

150.7 Computation of time.

150.8 Qualification of counsel.

150.9 Conduct of counsel.

150.10 Request for appellate defense

counsel.

150.11 Assignment of counsel.

150.12 Retention of civilian counsel.

150.13 Notice of appearance of counsel.

150.14 Waiver or withdrawal of appellate

review.

150.15 Assignments of error and briefs.

150.16 Oral arguments.

150.17 En banc proceedings.

150.18 Orders and decisions of the Court.

150.19 Reconsideration.

150.20 Petitions for extraordinary relief,

answer, and reply.

150.21 Appeals by the United States.

150.22 Petitions for new trial.

150.23 Motions.

150.24 Continuances and interlocutory

matters.

150.25 Suspension of rules.

150.26 Internal rules.

150.27 Recording, photographing,

broadcasting, or telecasting of hearings.

150.28 Amendments.