Federal Register / Vol. 78, No. 221 / Friday, November 15, 2013 / Rules and Regulations 68739 

(f) * * * (1) * * * In addition, except 

as provided in paragraph (h) of this 

section or in guidance of general 

applicability published in the Internal 

Revenue Bulletin (see 

§ 601.601(d)(2)(ii)(b) of this chapter), a 

plan which includes provisions that 

satisfy the rules of this section will not 

satisfy the requirements of § 1.401(m)– 

1(b) if it is amended to change such 

provisions for that plan year. * * * 

* * * * * 

(4) * * * 

(i) The plan would satisfy the 

requirements of paragraph (h) of this 

section, treating the termination of the 

plan as a reduction or suspension of safe 

harbor contributions, other than the 

requirements of paragraph (h)(1)(i)(A) or 

(h)(1)(ii)(A) of this section (relating to 

the employer’s financial condition and 

information included in the initial 

notice for the plan year) and paragraph 

(h)(1)(i)(D) or (h)(1)(ii)(D) of this section 

(requiring that employees have a 

reasonable opportunity to change their 

cash or deferred elections and, if 

applicable, employee contribution 

elections); or 

(ii) The plan termination is in 

connection with a transaction described 

in section 410(b)(6)(C) or the employer 

incurs a substantial business hardship, 

comparable to a substantial business 

hardship described in section 412(c). 

* * * * * 

(h) Permissible reduction or 

suspension of safe harbor 

contributions—(1) General rule—(i) 

Matching contributions. A plan that 

provides for safe harbor matching 

contributions intended to satisfy the 

requirements of paragraph (c) of this 

section for a plan year will not fail to 

satisfy the requirements of section 

401(m)(2) merely because the plan is 

amended during the plan year to reduce 

or suspend safe harbor matching 

contributions on future elective 

deferrals (and, if applicable, employee 

contributions) provided that— 

(A) In the case of plan years beginning 

on or after January 1, 2015, the 

employer either— 

(1) Is operating at an economic loss as 

described in section 412(c)(2)(A) for the 

plan year; or 

(2) Includes in the notice described in 

paragraph (e) of this section, a statement 

that the plan may be amended during 

the plan year to reduce or suspend safe 

harbor matching contributions and that 

the reduction or suspension will not 

apply until at least 30 days after all 

eligible employees are provided notice 

of the reduction or suspension; 

(B) All eligible employees are 

provided a supplemental notice that 

satisfies the requirements of paragraph 

(h)(2) of this section; 

(C) The reduction or suspension of 

safe harbor matching contributions is 

effective no earlier than the later of the 

date the amendment is adopted or 30 

days after eligible employees are 

provided the supplemental notice 

described in paragraph (h)(2) of this 

section; 

(D) Eligible employees are given a 

reasonable opportunity (including a 

reasonable period after receipt of the 

supplemental notice) prior to the 

reduction or suspension of safe harbor 

matching contributions to change their 

cash or deferred elections and, if 

applicable, their employee contribution 

elections; 

(E) The plan is amended to provide 

that the ACP test will be satisfied for the 

entire plan year in which the reduction 

or suspension occurs using the current 

year testing method described in 

§ 1.401(m)–2(a)(2)(ii); and 

(F) The plan satisfies the requirements 

of this section (other than this paragraph 

(h)) with respect to amounts deferred 

through the effective date of the 

amendment. 

(ii) Nonelective contributions. For 

plan amendments adopted after May 18, 

2009, a plan that provides for safe 

harbor nonelective contributions 

intended to satisfy the requirements of 

paragraph (b) of this section will not fail 

to satisfy the requirements of section 

401(m)(2) for the plan year merely 

because the plan is amended during the 

plan year to reduce or suspend safe 

harbor nonelective contributions 

provided that— 

(A) The employer either— 

(1) Is operating at an economic loss as 

described in section 412(c)(2)(A) for the 

plan year; or 

(2) Includes in the notice described in 

paragraph (e) of this section a statement 

that the plan may be amended during 

the plan year to reduce or suspend safe 

harbor nonelective contributions and 

that the reduction or suspension will 

not apply until at least 30 days after all 

eligible employees are provided notice 

of the reduction or suspension; 

(B) All eligible employees are 

provided a supplemental notice that 

satisfies the requirements of paragraph 

(h)(2) of this section; 

(C) The reduction or suspension of 

safe harbor nonelective contributions is 

effective no earlier than the later of the 

date the amendment is adopted or 30 

days after eligible employees are 

provided the supplemental notice 

described in paragraph (h)(2) of this 

section; 

(D) Eligible employees are given a 

reasonable opportunity (including a 

reasonable period after receipt of the 

supplemental notice) prior to the 

reduction or suspension of nonelective 

contributions to change their cash or 

deferred elections and, if applicable, 

their employee contribution elections; 

(E) The plan is amended to provide 

that the ACP test will be satisfied for the 

entire plan year in which the reduction 

or suspension occurs using the current 

year testing method described in 

§ 1.401(m)–2(a)(2)(ii); and 

(F) The plan satisfies the requirements 

of this section (other than this paragraph 

(h)) with respect to safe harbor 

compensation paid through the effective 

date of the amendment. 

(2) Supplemental notice. The 

supplemental notice requirement of this 

paragraph (h)(2) is satisfied if each 

eligible employee is given a notice that 

satisfies the requirements of § 1.401(k)– 

3(g)(2). 

* * * * * 

Beth Tucker, 

Deputy Commissioner for Operations 

Support. 

Approved: June 17, 2013. 

Mark J. Mazur, 

Assistant Secretary of the Treasury (Tax 

Policy). 

[FR Doc. 2013–27452 Filed 11–14–13; 8:45 am] 

BILLING CODE 4830–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans to 

prescribe interest assumptions under 

the regulation for valuation dates in 

December 2013. The interest 

assumptions are used for paying 

benefits under terminating singleemployer plans covered by the pension 

insurance system administered by 

PBGC. 

DATES: Effective December 1, 2013. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion (Klion.Catherine@

pbgc.gov), Assistant General Counsel for 

Regulatory Affairs, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW., Washington, DC 20005, 202–326– 


emcdonald on DSK67QTVN1PROD with RULES
68740 Federal Register / Vol. 78, No. 221 / Friday, November 15, 2013 / Rules and Regulations 

1Appendix B to PBGC’s regulation on Allocation 

of Assets in Single-Employer Plans (29 CFR Part 

4044) prescribes interest assumptions for valuing 

benefits under terminating covered single-employer 

plans for purposes of allocation of assets under 

ERISA section 4044. Those assumptions are 

updated quarterly. 

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 

regulation on Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR Part 4022) prescribes actuarial 

assumptions — including interest 

assumptions—for paying plan benefits 

under terminating single-employer 

plans covered by title IV of the 

Employee Retirement Income Security 

Act of 1974. The interest assumptions in 

the regulation are also published on 

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

PBGC uses the interest assumptions in 

Appendix B to Part 4022 to determine 

whether a benefit is payable as a lump 

sum and to determine the amount to 

pay. Appendix C to Part 4022 contains 

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. Currently, the rates in 

Appendices B and C of the benefit 

payment regulation are the same. 

The interest assumptions are intended 

to reflect current conditions in the 

financial and annuity markets. 

Assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates the 

benefit payments interest assumptions 

for December 2013.1

The December 2013 interest 

assumptions under the benefit payments 

regulation will be 1.75 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. In comparison with the interest 

assumptions in effect for November 

2013, these interest assumptions are 

unchanged. 

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 payment of 

benefits under plans with valuation 

dates during December 2013, 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 

242, 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

*******

242 12–1–13 01–1–14 1.75 4.00 4.00 4.00 7 8 

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

242, 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

*******

242 12–1–13 01–1–14 1.75 4.00 4.00 4.00 7 8 


emcdonald on DSK67QTVN1PROD with RULES
Federal Register / Vol. 78, No. 221 / Friday, November 15, 2013 / Rules and Regulations 68741 

Issued in Washington, DC, on this day of 

November 12, 2013. 

Judith Starr, 

General Counsel, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2013–27385 Filed 11–14–13; 8:45 am] 

BILLING CODE 7709–02–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 180 

[EPA–HQ–OPP–2012–0427; FRL–9392–1] 

Tebuconazole; Pesticide Tolerances 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: This regulation establishes 

tolerances for residues of tebuconazole 

in or on the fruiting vegetable group 8– 

10 and amends the existing tolerances 

for barley grain and the cucurbit 

vegetable group 9. Interregional 

Research Project Number 4 (IR–4) 

requested this tolerance and amendment 

under the Federal Food, Drug, and 

Cosmetic Act (FFDCA). 

DATES: This regulation is effective 

November 15, 2013. Objections and 

requests for hearings must be received 

on or before January 14, 2014, and must 

be filed in accordance with the 

instructions provided in 40 CFR part 

178 (see also Unit I.C. of the 

SUPPLEMENTARY INFORMATION). 

ADDRESSES: The docket for this action, 

identified by docket identification (ID) 

number EPA–HQ–OPP–2012–0427, is 

available at http://www.regulations.gov 

or at the Office of Pesticide Programs 

Regulatory Public Docket (OPP Docket) 

in the Environmental Protection Agency 

Docket Center (EPA/DC), EPA West 

Bldg., Rm. 3334, 1301 Constitution Ave. 

NW., Washington, DC 20460–0001. The 

Public Reading Room is open from 8:30 

a.m. to 4:30 p.m., Monday through 

Friday, excluding legal holidays. The 

telephone number for the Public 

Reading Room is (202) 566–1744, and 

the telephone number for the OPP 

Docket is (703) 305–5805. Please review 

the visitor instructions and additional 

information about the docket available 

at http://www.epa.gov/dockets. 

FOR FURTHER INFORMATION CONTACT: Lois 

Rossi, Registration Division (7505P), 

Office of Pesticide Programs, 

Environmental Protection Agency, 1200 

Pennsylvania Ave. NW., Washington, 

DC 20460–0001; telephone number: 

(703) 305–7090; email address: 

RDFRNotices@epa.gov. 

SUPPLEMENTARY INFORMATION: 

I. General Information 

A. Does this action apply to me? 

You may be potentially affected by 

this action if you are an agricultural 

producer, food manufacturer, or 

pesticide manufacturer. The following 

list of North American Industrial 

Classification System (NAICS) codes is 

not intended to be exhaustive, but rather 

provides a guide to help readers 

determine whether this document 

applies to them. Potentially affected 

entities may include: 

• Crop production (NAICS code 111). 

• Animal production (NAICS code 

112). 

• Food manufacturing (NAICS code 

311). 

• Pesticide manufacturing (NAICS 

code 32532). 

B. How can I get electronic access to 

other related information? 

You may access a frequently updated 

electronic version of EPA’s tolerance 

regulations at 40 CFR part 180 through 

the Government Printing Office’s eCFR 

site at http://www.ecfr.gov/cgi-bin/textidx?&c=ecfr&tpl=/ecfrbrowse/Title40/

40tab_02.tpl. 

C. How can I file an objection or hearing 

request? 

Under FFDCA section 408(g), 21 

U.S.C. 346a, any person may file an 

objection to any aspect of this regulation 

and may also request a hearing on those 

objections. You must file your objection 

or request a hearing on this regulation 

in accordance with the instructions 

provided in 40 CFR part 178. To ensure 

proper receipt by EPA, you must 

identify docket ID number EPA–HQ– 

OPP–2012–0427 in the subject line on 

the first page of your submission. All 

objections and requests for a hearing 

must be in writing, and must be 

received by the Hearing Clerk on or 

before January 14, 2014. Addresses for 

mail and hand delivery of objections 

and hearing requests are provided in 40 

CFR 178.25(b). 

In addition to filing an objection or 

hearing request with the Hearing Clerk 

as described in 40 CFR part 178, please 

submit a copy of the filing (excluding 

any Confidential Business Information 

(CBI)) for inclusion in the public docket. 

Information not marked confidential 

pursuant to 40 CFR part 2 may be 

disclosed publicly by EPA without prior 

notice. Submit the non-CBI copy of your 

objection or hearing request, identified 

by docket ID number EPA–HQ–OPP– 

2012–0427, by one of the following 

methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the online 

instructions for submitting comments. 

Do not submit electronically any 

information you consider to be CBI or 

other information whose disclosure is 

restricted by statute. 

• Mail: OPP Docket, Environmental 

Protection Agency Docket Center (EPA/ 

DC), (28221T), 1200 Pennsylvania Ave. 

NW., Washington, DC 20460–0001. 

• Hand Delivery: To make special 

arrangements for hand delivery or 

delivery of boxed information, please 

follow the instructions at http://

www.epa.gov/dockets/contacts.htm. 

Additional instructions on commenting 

or visiting the docket, along with more 

information about dockets generally, is 

available at http://www.epa.gov/

dockets. 

II. Summary of Petitioned-for Tolerance 

In the Federal Register of August 22, 

2012 (77 FR 50661) (FRL–9358–9), EPA 

issued a document pursuant to FFDCA 

section 408(d)(3), 21 U.S.C. 346a(d)(3), 

announcing the filing of a pesticide 

petition (PP 2E8012) by Interregional 

Research Project Number 4 (IR–4), 500 

College Road East, Suite 201W., 

Princeton, NJ 08540. The petition 

requested that 40 CFR 180.474 be 

amended by establishing tolerances for 

residues of the fungicide tebuconazole, 

alpha-[2-(4-chlorophenyl)ethyl]-alpha- 

(1,1-dimethylethyl)-1H-1,2,4-triazole-1- 

ethanol, including its metabolites and 

degradates, in or on barley, grain at 0.3 

parts per million (ppm); vegetable, 

cucurbit group 9 at 0.4 ppm; and 

vegetable, fruiting group 8–10 at 1.3 

ppm. The petition also requested the 

removal of the established tolerance, in 

or on vegetable, fruiting, group 8 at 1.3 

ppm once the proposed tolerance for 

vegetable, fruiting group 8–10 at 1.3 

ppm, has been established since the 

proposed new tolerance will supersede 

the existing tolerance. That document 

referenced a summary of the petition 

prepared by Bayer CropScience, the 

registrant, which is available in the 

docket, http://www.regulations.gov. 

There were no comments received in 

response to the notice of filing. 

III. Aggregate Risk Assessment and 

Determination of Safety 

Section 408(b)(2)(A)(i) of FFDCA 

allows EPA to establish a tolerance (the 

legal limit for a pesticide chemical 

residue in or on a food) only if EPA 

determines that the tolerance is ‘‘safe.’’ 

Section 408(b)(2)(A)(ii) of FFDCA 

defines ‘‘safe’’ to mean that ‘‘there is a 

reasonable certainty that no harm will 

result from aggregate exposure to the 

pesticide chemical residue, including 

all anticipated dietary exposures and all 

other exposures for which there is 


emcdonald on DSK67QTVN1PROD with RULES