54904 Federal Register / Vol. 79, No. 178 / Monday, September 15, 2014 / Rules and Regulations 

§ 1204.1102 Responsibilities. 

(a) The Center Directors of NASA 

installations and the Executive Director 

for Headquarters Operations over which 

the United States has exclusive or 

concurrent legislative jurisdiction, and 

consistent with the foregoing, are 

delegated the authority to establish 

additional vehicular and pedestrian 

traffic rules and regulations for their 

installations. 

(b) All persons on a NASA Center or 

component facility are responsible for 

compliance with locally established 

vehicular and pedestrian traffic rules 

and regulations. 

§ 1204.1103 Procedures. 

The Center Directors and the 

Executive Director for Headquarters 

Operations shall issue local policies and 

procedural requirements, subject to 

prior NASA Office of Protective 

Services approval, which will 

implement this regulation for their 

respective NASA Centers and 

component facilities. 

§ 1204.1104 Violations. 

A person found in violation, on a 

NASA installation, of any vehicular or 

pedestrian traffic law, or local 

installation vehicular or pedestrian 

traffic rule or regulation made 

applicable to the installation under the 

provisions of this subpart, is subject to 

punishment as provided for by 18 

U.S.C. 799 (violation of regulations of 

NASA). 

Nanette Jennings, 

NASA Federal Register Liaison Officer. 

[FR Doc. 2014–21784 Filed 9–12–14; 8:45 am] 

BILLING CODE 7510–13–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Parts 4022 and 4044 

Allocation of Assets in SingleEmployer Plans; Benefits Payable in 

Terminated Single-Employer Plans; 

Interest Assumptions for Valuing and 

Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulations on Benefits Payable in 

Terminated Single-Employer Plans and 

Allocation of Assets in Single-Employer 

Plans to prescribe interest assumptions 

under the benefit payments regulation 

for valuation dates in October 2014 and 

interest assumptions under the asset 

allocation regulation for valuation dates 

in the fourth quarter of 2014. The 

interest assumptions are used for 

valuing and paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. 

DATES: Effective October 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 

regulations on Allocation of Assets in 

Single-Employer Plans (29 CFR Part 

4044) and Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR Part 4022) prescribe actuarial 

assumptions—including interest 

assumptions—for valuing and paying 

plan benefits under terminating singleemployer plans covered by title IV of 

the Employee Retirement Income 

Security Act of 1974. The interest 

assumptions in the regulations are also 

published on PBGC’s Web site (http://

www.pbgc.gov). 

The interest assumptions in Appendix 

B to Part 4044 are used to value benefits 

for allocation purposes under ERISA 

section 4044. 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 asset allocation 

regulation are updated quarterly; 

assumptions under the benefit payments 

regulation are updated monthly. This 

final rule updates the benefit payments 

interest assumptions for October 2014 

and updates the asset allocation interest 

assumptions for the fourth quarter 

(October through December) of 2014. 

The fourth quarter 2014 interest 

assumptions under the allocation 

regulation will be 3.10 percent for the 

first 20 years following the valuation 

date and 3.29 percent thereafter. In 

comparison with the interest 

assumptions in effect for the third 

quarter of 2014, these interest 

assumptions represent no change in the 

select period, (the period during which 

the select rate (the initial rate) applies), 

a decrease of 0.33 percent in the select 

rate, and a decrease of 0.37 percent in 

the ultimate rate (the final rate). 

The October 2014 interest 

assumptions under the benefit payments 

regulation will be 1.00 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 September 

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 valuation 

and payment of benefits under plans 

with valuation dates during October 

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). 

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. 


rmajette on DSK2TPTVN1PROD with RULES2
Federal Register / Vol. 79, No. 178 / Monday, September 15, 2014 / Rules and Regulations 54905 

■ 2. In appendix B to part 4022, Rate Set 

252, 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

*******

252 10–1–14 11–1–14 1.00 4.00 4.00 4.00 7 8 

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

252, 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

*******

252 10–1–14 11–1–14 1.00 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 October–December 2014, as set 

forth below, is added to the table. 

Appendix B to Part 4044—Interest 

Rates Used to Value Benefits 

* * * * * 

For valuation dates occurring in the month— 

The values of it are: 

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

*******

October–December 2014 ..................................................... 0.0310 1–20 0.0329 >20 N/A N/A 

Issued in Washington, DC, on this 9th day 

of September 2014. 

Philip Hertz, 

Deputy General Counsel, Pension Benefit 

Guaranty Corporation. 

[FR Doc. 2014–21963 Filed 9–12–14; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 100 

[Docket No. USCG–2012–0714] 

RIN 1625–AA08 

Special Local Regulation; Frogtown 

Races, Maumee River; Toledo, OH 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of enforcement of 

regulation. 

SUMMARY: The Coast Guard will enforce 

the special local regulation regulating 

vessel movement in all U.S. navigable 

waters of the Maumee River, Toledo, 

OH, from the Norfolk and Southern 

Railway Bridge at River Mile 1.80 to the 

Anthony Wayne Bridge at River Mile 

5.16. This special local regulated area is 

necessary to ensure the safety of life and 

property on navigable waters 

immediately prior to, during, and 

immediately after the Frogtown Races. 

During the aforementioned period, the 

Coast Guard will enforce restrictions 

upon, and control movement of, vessels 

in a portion of the Captain of the Port 

Detroit zone. 

DATES: The regulations in 33 CFR 

100.928 will be enforced from 5 a.m. to 

7 p.m. on September 27, 2014. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this notice, call 

or email MST2 Daniel O’Leary, Marine 

Safety Unit Toledo, 420 Madison Ave. 

Suite 700, Toledo, OH, 43604; telephone 

(419) 418–6028; email daniel.s.oleary@

uscg.mil. 

SUPPLEMENTARY INFORMATION: The Coast 

Guard will enforce the special local 

regulations listed in 33 CFR 100.928 

Special Local Regulation; Frogtown 

Races, Maumee River, Toledo, OH. This 

special local regulation will be enforced 

from 5 a.m. until 7 p.m. on September 

27, 2014. This special local regulation 

will encompass all navigable waters of 

the United States on the Maumee River, 

Toledo, OH, from the Norfolk and 

Southern Railway Bridge at River Mile 

1.80 to the Anthony Wayne Bridge at 

River Mile 5.16. 

Under the provisions of 33 CFR 

100.928, vessels transiting within the 

regulated area shall travel at a no-wake 

speed and remain vigilant for event 

participants and safety craft. Frogtown 

participants and event safety vessels 

will yield right of way to commercial 


rmajette on DSK2TPTVN1PROD with RULES2