Federal Register / Vol. 71, No. 31 / Wednesday, February 15, 2006 / Rules and Regulations 7871 

subject to review under the Executive 

order. 

The Regulatory Flexibility Act 

requires agencies to analyze regulatory 

options that would minimize any 

significant impact of a rule on small 

entities. Because classification of this 

device in class II will relieve 

manufacturers of the device of the cost 

of complying with the premarket 

approval requirements of section 515 of 

the act (21 U.S.C. 360e), and may permit 

small potential competitors to enter the 

marketplace by lowering their costs, the 

agency certifies that the final rule will 

not have a significant economic impact 

on a substantial number of small 

entities. 

Section 202(a) of the Unfunded 

Mandates Reform Act of 1995 requires 

that agencies prepare a written 

statement, which includes an 

assessment of anticipated costs and 

benefits, before proposing ‘‘any rule that 

includes any Federal mandate that may 

result in the expenditure by State, local, 

and tribal governments, in the aggregate, 

or the private sector, of $100,000,000 or 

more (adjusted annually for inflation) in 

any one year.’’

The current threshold after 

adjustment for inflation is $115 million, 

using the most current (2003) Implicit 

Price Deflator for the Gross Domestic 

Product. FDA does not expect this final 

rule to result in any 1-year expenditure 

that would meet or exceed this amount. 

IV. Does This Rule Have Federalism 

Implications? 

FDA has analyzed this final rule in 

accordance with the principles set forth 

in Executive Order 13132. FDA has 

determined that the rule does not 

contain policies that have substantial 

direct effects on the States, on the 

relationship between the National 

Government and the States, or on the 

distribution of power and 

responsibilities among the various 

levels of government. Accordingly, the 

agency has concluded that the rule does 

not contain policies that have 

federalism implications as defined in 

the Executive order and, consequently, 

a federalism summary impact statement 

is not required. 

V. How Does This Rule Comply With 

the Paperwork Reduction Act of 1995? 

This final rule contains no collection 

of information. Therefore, clearance by 

the Office of Management and Budget 

(OMB) under the Paperwork Reduction 

Act of 1995 (the PRA) (44 U.S.C. 3501–

3520) is not required. 

FDA also concludes that the special 

controls guidance document does not 

contain new information collection 

provisions that are subject to review and 

clearance by OMB under the PRA. 

VI. What References are on Display? 

The following reference has been 

placed on display in the Division of 

Dockets Management (HFA–305), Food 

and Drug Administration, 5630 Fishers 

Lane, rm. 1061, Rockville, MD 20852, 

and may be seen by interested persons 

between 9 a.m. and 4 p.m., Monday 

through Friday. 

1. Petition from CardioMEMS, Inc., dated 

August 9, 2005. 

List of Subjects in 21 CFR Part 870 

Medical devices. 

■ Therefore, under the Federal Food, 

Drug, and Cosmetic Act and under 

authority delegated to the Commissioner 

of Food and Drugs, 21 CFR part 870 is 

amended as follows: 

PART 870—CARDIOVASCULAR 

DEVICES 

■ 1. The authority citation for 21 CFR 

part 870 continues to read as follows: 

Authority: 21 U.S.C. 351, 360, 360c, 360e, 

360j, 371. 

■ 2. Section 870.2855 is added to 

subpart C to read as follows: 

§ 870.2855 Implantable Intra-aneurysm 

Pressure Measurement System. 

(a) Identification. Implantable intraaneurysm pressure measurement system 

is a device used to measure the intra-sac 

pressure in a vascular aneurysm. The 

device consists of a pressure transducer 

that is implanted into the aneurysm and 

a monitor that reads the pressure from 

the transducer. 

(b) Classification. Class II (special 

controls). The special control is FDA’s 

guidance document entitled ‘‘Class II 

Special Controls Guidance Document: 

Implantable Intra-Aneurysm Pressure 

Measurement System.’’ See § 870.1 (e) 

for the availability of this guidance 

document. 

Dated: February 6, 2006. 

Linda S. Kahan, 

Deputy Director, Center for Devices and 

Radiological Health. 

[FR Doc. 06–1417 Filed 2–14–06; 8:45 am] 

BILLING CODE 4160–01–S 

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 March 2006. Interest 

assumptions are also published on the 

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

DATES: Effective March 1, 2006. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion, Attorney, Legislative 

and Regulatory Department, Pension 

Benefit Guaranty Corporation, 1200 K 

Street, NW., Washington, DC 20005, 

202–326–4024. (TTY/TDD users should 

call the Federal relay service by dialing 

711 and ask for 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). 

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 March 2006, (2) 

adds to Appendix B to Part 4022 the 


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7872 Federal Register / Vol. 71, No. 31 / Wednesday, February 15, 2006 / Rules and Regulations 

interest assumptions for the PBGC to 

use for its own lump-sum payments in 

plans with valuation dates during 

March 2006, 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 March 2006. 

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 5.70 

percent for the first 20 years following 

the valuation date and 4.75 percent 

thereafter. These interest assumptions 

represent an increase (from those in 

effect for February 2006) of 0.10 percent 

for the first 20 years following the 

valuation date and are otherwise 

unchanged. These interest assumptions 

reflect the PBGC’s recently updated 

mortality assumptions, which are 

effective for terminations on or after 

January 1, 2006. See the PBGC’s final 

rule published December 2, 2005 (70 FR 

72205), which is available at http:// 

www.pbgc.gov/docs/05–23554.pdf. 

Because the updated mortality 

assumptions reflect improvements in 

mortality, these interest assumptions are 

higher than they would have been using 

the old mortality assumptions. 

The interest assumptions that the 

PBGC will use for its own lump-sum 

payments (set forth in Appendix B to 

part 4022) will be 2.75 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. These interest assumptions 

represent no change from those in effect 

for February 2006. 

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 March 2006, 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 

149, 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

* * * * * * * 

149 3–1–06 4–1–06 2.75 4.00 4.00 4.00 7 8 

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

149, 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

* * * * * * * 

149 3–1–06 4–1–06 2.75 4.00 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 for March 2006, as set forth below, 

is added to the table. 

Appendix B to Part 4044—Interest 

Rates Used to Value Benefits 

* * * * * 


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Federal Register / Vol. 71, No. 31 / Wednesday, February 15, 2006 / Rules and Regulations 7873 

For valuation dates occurring in the month—

The values of it are: 

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

* * * * * * * 

March 2006 ........................................................................... .0570 1–20 .0475 >20 N/A N/A 

Issued in Washington, DC, on this 8th day 

of February 2006. 

Vincent K. Snowbarger, 

Deputy Executive Director, Pension Benefit 

Guaranty Corporation. 

[FR Doc. 06–1375 Filed 2–14–06; 8:45 am] 

BILLING CODE 7709–01–P 

NATIONAL AERONAUTICS AND 

SPACE ADMINISTRATION 

48 CFR Part 1802 

RIN: 2700–AD21 

Change in Definition of Head of the 

Contracting Activity 

AGENCY: National Aeronautics and 

Space Administration. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

NASA FAR Supplement (NFS) by 

revising the definition for ‘‘Head of the 

contracting activity (HCA).’’

DATES: Effective Date: February 15, 

2006. 

FOR FURTHER INFORMATION CONTACT: 

Sheryl Goddard, NASA, Office of 

Procurement, Program Operations 

Division; (703) 553–2519; e-mail: 

Sheryl.Goddard@nasa.gov. 

SUPPLEMENTARY INFORMATION: 

A. Background 

This final rule revises the definition 

of ‘‘Head of the contracting activity 

(HCA)’’ in NFS 1802.101 to designate 

the Associate Administrator for the 

Space Operations Mission Directorate 

(SOMD) as head of the contracting 

activity for SOMD contracts. Previously, 

the center director of the NASA 

installation cognizant for award of an 

SOMD contract was the designated 

HCA. This administrative change is 

consistent with the roles and 

responsibilities of NASA officials. 

B. Regulatory Flexibility Act 

The Regulatory Flexibility Act does 

not apply to this final rule. This final 

rule does not constitute a significant 

revision within the meaning of FAR 

1.501 and Public Law 98–577, and 

publication for public comment is not 

required. However, NASA will consider 

comments from small entities 

concerning the affected NFS part 1802 

in accordance with 5 U.S.C. 610. 

Interested parties must submit such 

comments separately and should cite 5 

U.S.C. 601, et seq., in correspondence. 

C. Paperwork Reduction Act 

The Paperwork Reduction Act does 

not apply because the changes do not 

impose recordkeeping or information 

collection requirements which require 

the approval of the Office of 

Management and Budget under 44 

U.S.C. 3501, et seq. 

List of Subjects in 48 CFR Part 1802 

Government Procurement. 

Tom Luedtke, 

Assistant Administrator for Procurement. 

■ Accordingly, 48 CFR part 1802 is 

amended as follows: 

PART 1802—DEFINITIONS OF WORDS 

AND TERMS 

■ 1. The authority citation for 48 CFR 

part 1802 continues to read as follows: 

Authority: 42 U.S.C. 2473(c)(1). 

■ 2. Amend section 1802.101 by 

revising the definition of ‘‘Head of the 

contracting activity (HCA)’’ to read as 

follows: 

1802.101 Definitions. 

* * * * * 

Head of the contracting activity (HCA) 

means, for field installations, the 

Director or other head, and for NASA 

Headquarters, the Assistant 

Administrator for Management Systems. 

For Space Operations Mission 

Directorate (SOMD) contracts, the HCA 

is the Associate Administrator for 

SOMD in lieu of the field Center 

Director(s). For Exploration Systems 

Mission Directorate (ESMD) contracts, 

the HCA is the Associate Administrator 

for ESMD in lieu of the field Center 

Director(s). For NASA Shared Services 

Center (NSSC) contracts, the HCA is the 

Executive Director of the NSSC in lieu 

of the field Center Director(s). 

* * * * * 

[FR Doc. 06–1430 Filed 2–14–06; 8:45 am] 

BILLING CODE 7510–01–P 


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