Federal Register / Vol. 79, No. 94 / Thursday, May 15, 2014 / Rules and Regulations 27731 

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. 

Environmental Review 

The FAA has determined that this 

action qualifies for categorical exclusion 

under the National Environmental 

Policy Act in accordance with FAA 

Order 1050.1E, Environmental Impacts: 

Policies and Procedures, paragraph 

311d. This airspace action is an 

administrative change to correct and 

update the descriptions of restricted 

areas R–5001A and R–5001B to reflect 

current information. It does not alter the 

actual location, charted dimensions or 

use of the airspace; therefore, it is not 

expected to cause any potentially 

significant environmental impacts, and 

no extraordinary circumstances exists 

that warrant preparation of an 

environmental assessment. 

List of Subjects in 14 CFR Part 73 

Airspace, Navigation (air), Security 

measures. 

Adoption of the Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

amends 14 CFR part 73, as follows: 

PART 73—SPECIAL USE AIRSPACE 

■ 1. The authority citation for part 73 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40103, 40113, 

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 

1963 Comp., p. 389. 

§ 73.50 [Amended] 

■ 2. Section 73.50 is amended as 

follows: 

R–5001A Joint Base McGuire-DixLakehurst, NJ [Amended] 

Boundaries. Beginning at Lat. 40°02′45′′ N., 

long. 74°26′59′′ W.; to lat. 40°00′00′′ N., long. 

74°26′19′′ W.; to lat. 39°59′00′′ N., long. 

74°25′07′′ W.; to lat. 39°58′00′′ N., long. 

74°24′59′′ W.; to lat. 39°57′30′′ N., long. 

74°25′16′′ W.; to lat. 39°57′23′′ N., long. 

74°25′49′′ W.; to lat. 39°58′45′′ N., long. 

74°27′59′′ W.; to lat. 39°58′45′′ N., long. 

74°31′24′′ W.; to lat. 39°59′15′′ N., long. 

74°33′29′′ W.; to lat. 40°01′53′′ N., long. 

74°33′29′′ W.; to lat. 40°02′45′′ N., long. 

74°32′29′′ W.; to the point of beginning. 

Designated altitudes. Surface to 4,000 feet 

MSL. 

Time of designation. 0600 to 2330 local 

time, daily; other times by NOTAM issued at 

least four hours in advance. 

Controlling agency. U.S. Air Force, 

McGuire Radar Approach Control. 

Using agency. Commanding Officer, U.S. 

Army Support Activity, Joint Base McGuireDix-Lakehurst, NJ. 

R–5001B Joint Base McGuire-DixLakehurst, NJ [Amended] 

Boundaries. Beginning at Lat. 40°02′45′′ N., 

long. 74°26′59′′ W.; to lat. 40°00′00′′ N., long. 

74°26′19′′ W.; to lat. 39°59′00′′ N., long. 

74°25′07′′ W.; to lat. 39°58′00′′ N., long. 

74°24′59′′ W.; to lat. 39°57′30′′ N., long. 

74°25′16′′ W.; to lat. 39°57′23′′ N., long. 

74°25′49′′ W.; to lat. 39°58′45′′ N., long. 

74°27′59′′ W.; to lat. 39°58′45′′ N., long. 

74°31′24′′ W.; to lat. 40°01′53′′ N., long. 

74°33′29′′ W.; to lat. 40°02′45′′ N., long. 

74°32′29′′ W.; to the point of beginning. 

Designated altitudes. 4,000 feet MSL to 

8,000 feet MSL. 

Time of designation. Continuous, sunrise 

Friday to sunset Sunday, other times by 

NOTAM at least 48 hours in advance. 

Controlling agency. U.S. Air Force, 

McGuire Radar Approach Control. 

Using agency. Commanding Officer, U.S. 

Army Support Activity, Joint Base McGuireDix-Lakehurst, NJ. 

Issued in Washington, DC on May 8, 2014. 

Gary A. Norek, 

Manager, Airspace Policy and Regulations 

Group. 

[FR Doc. 2014–11104 Filed 5–14–14; 8:45 am] 

BILLING CODE 4910–13–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 

June 2014. The interest assumptions are 

used for paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. 

DATES: Effective June 1, 2014. 

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– 

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 June 2014.1

The June 2014 interest assumptions 

under the benefit payments regulation 

will be 1.25 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 May 2014, 

these interest assumptions represent a 

decrease of 0.25 percent in the 

immediate annuity rate and are 

otherwise 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 June 2014, 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). 


TKELLEY on DSK3SPTVN1PROD with RULES
27732 Federal Register / Vol. 79, No. 94 / Thursday, May 15, 2014 / Rules and Regulations 

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 

248, 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

*******

248 6–1–14 7–1–14 1.25 4.00 4.00 4.00 7 8 

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

248, 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

*******

248 6–1–14 7–1–14 1.25 4.00 4.00 4.00 7 8 

Issued in Washington, DC, on this 8th day 

of May 2014. 

Judith Starr, 

General Counsel, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2014–11209 Filed 5–14–14; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF DEFENSE 

Office of the Secretary 

32 CFR Part 68 

[Docket No. DOD–2013–OS–0093] 

RIN 0790–AJ06 

Voluntary Education Programs 

AGENCY: Office of the Under Secretary of 

Defense for Personnel and Readiness, 

DoD. 

ACTION: Final rule. 

SUMMARY: The Department of Defense 

(DoD) is publishing this final rule to 

implement new policy, responsibilities, 

and procedures for the operation of 

voluntary education programs within 

DoD. The new policies discussed in the 

rule include the following: All 

educational institutions providing 

education programs through the DoD 

Tuition Assistance (TA) Program will 

provide meaningful information to 

students about the financial cost and 

attendance at an institution so military 

students can make informed decisions 

on where to attend school; not use 

unfair, deceptive, and abusive recruiting 

practices; and provide academic and 

student support services to Service 

members and their families. New 

criteria are created to strengthen 

existing procedures for access to DoD 

installations by educational institutions. 

An annual review and notification 

process is required if there are changes 

made to the uniform semester-hour (or 

equivalent) TA caps and annual TA 

ceilings. Military Departments will be 

required to provide their Service 

members with a joint services transcript 

(JST). The DoD Postsecondary 

Education Complaint System is 

implemented for Service members, 

spouses, and adult family members to 

register student complaints. The 

Military Departments are authorized to 

establish Service-specific TA eligibility 

criteria and management controls. The 

requirement to sign a new DoD 

Voluntary Education Partnership 

Memorandum of Understanding (MOU) 

for all participating educational 

institutions will be effective 60 days 

following the publication of this final 

rule in the Federal Register. 

Additionally, educational institutions 

with a current DoD Voluntary Education 

Partnership MOU that have initiated 

their application for Title IV eligibility 

with the Department of Education will 

have 18 months following the 

publication of this final rule in the 

Federal Register to successfully meet 

the Title IV requirement. New 

applicants will be required to meet the 

Title IV requirement before signing a 

DoD Voluntary Education Partnership 

MOU. 

DATES: This rule is effective July 14, 

2014. 

FOR FURTHER INFORMATION CONTACT: For 

general information concerning DoD 

Voluntary Education Programs, send a 

written inquiry to Ms. Dawn Bilodeau, 

at the Office of the Under Secretary of 

Defense (Personnel & Readiness), 

Military Community & Family Policy, 

State Liaison and Educational 

Opportunities, 4800 Mark Center Drive, 

Suite 14E08, Alexandria, Virginia 

22350–2300 (email: 

dawn.a.bilodeau.civ@mail.mil). 

SUPPLEMENTARY INFORMATION: 

Executive Summary 

This final rule implements Voluntary 

Education Programs for Military Service 

members. This rule includes 

educational programs that enable 

Service members to earn a degree on 

their off-duty time. Congress has held 

that men and women serving in the 

Armed Forces should have at least the 

same opportunity to advance 


TKELLEY on DSK3SPTVN1PROD with RULES