Federal Register / Vol. 63, No. 10 / Thursday, January 15, 1998 / Rules and Regulations 2307

enteritis (salmonellosis or necrotic

enteritis caused by S. choleraesuis and

vibrionic dysentery), maintenance of

weight gains in the presence of atropic

rhinitis, increased rate of weight gain

from 6 to 16 weeks post-weaning.

Hoffmann-LaRoche’s ANADA 200–167

is approved as a generic copy of

Boehringer Ingelheim Animal Health,

Inc.’s NADA 39–077 CSP 500 Fermazole

Brand (chlortetracycline (as

hydrochloride), sulfathiazole, penicillin

(from penicillin procaine)). The ANADA

is approved as of January 15, 1998, and

the regulations are amended in 21 CFR

558.155(a)(2) to reflect the approval.

The basis of approval is discussed in the

freedom of information summary.

This approval is for use of a Type A

medicated article to make Type C

medicated feeds. The Type A medicated

article is a Category II drug which, as

provided in 21 CFR 558.4, requires an

approved form FDA 1900 for making a

Type C medicated feed. The Animal

Drug Availability Act of 1996 (Pub. L.

104–250) replaces the procedures for

approval of certain medicated feeds

with a general licensing system. A

medicated feed previously requiring an

approved medicated feed application

now requires manufacturing in a

licensed medicated feed mill. Therefore,

use of this Type A medicated article to

make Type C medicated feeds as

provided in ANADA 200–167 is

required to be manufactured at a

licensed feed mill.

In accordance with the freedom of

information provisions of 21 CFR part

20 and 514.11(e)(2)(ii), a summary of

safety and effectiveness data and

information submitted to support

approval of this application may be seen

in the Dockets Management Branch

(HFA–305), Food and Drug

Administration, 12420 Parklawn Dr.,

rm. 1–23, Rockville, MD 20857, between

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

Friday.

FDA has determined under 21 CFR

25.33(a)(1) that this action is of a type

that does not individually or

cumulatively have a significant effect on

the human environment. Therefore,

neither an environmental assessment

nor an environmental impact statement

is required.

List of Subjects in 21 CFR Part 558

Animal drugs, Animal feeds.

Therefore, under the Federal Food,

Drug, and Cosmetic Act and under

authority delegated to the Commissioner

of Food and Drugs and redelegated to

the Center for Veterinary Medicine, 21

CFR part 558 is amended as follows:

PART 558—NEW ANIMAL DRUGS FOR

USE IN ANIMAL FEEDS

1. The authority citation for 21 CFR

part 558 continues to read as follows:

Authority: 21 U.S.C. 360b, 371.

§ 558.155 [Amended]

2. Section 558.155 Chlortetracycline,

sulfathiazole, penicillin is amended in

paragraph (a)(2) by removing ‘‘000010’’

and adding in its place ‘‘054273’’.

Dated: January 2, 1998.

Stephen F. Sundlof,

Director, Center for Veterinary Medicine.

[FR Doc. 98–703 Filed 1–14–98; 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 1998.

EFFECTIVE DATE: February 1, 1998.

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. (For TTY/TDD

users, call the Federal relay service tollfree at 1–800–877–8339 and ask to be

connected to 202–326–4024.)

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 1998.

For annuity benefits, the interest

assumptions will be 5.50 percent for the

first 25 years following the valuation

date and 5.25 percent thereafter. The

annuity interest assumptions represent a

decrease (from those in effect for

January 1998) of 0.10 percent for the

first 25 years following the valuation

date and are otherwise unchanged. For

benefits to be paid as lump sums, the

interest assumptions to be used by the

PBGC will be 4.25 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. The lump sum interest

assumptions are unchanged from those

in effect for January 1998.

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 1998, 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—ALLOCATION OF

ASSETS IN SINGLE-EMPLOYER

PLANS

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 52 is

added to Table II, as set forth below.
2308 Federal Register / Vol. 63, No. 10 / Thursday, January 15, 1998 / Rules and Regulations

The introductory text of each table is

republished for the convenience of the

reader and remains unchanged.

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 1998 ................................................................... .0550 1–25 .0525 >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

* * * * * * *

52 02–1–98 03–1–98 4.25 4.00 4.00 4.00 7 8

Issued in Washington, D.C., on this 9th day

of January 1998.

David M. Strauss,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 98–1063 Filed 1–14–98; 8:45 am]

BILLING CODE 7708–01–P

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 117

[CGD05–97–003]

RIN 2115–AE47

Drawbridge Operation Regulations;

New Jersey Intracoastal Waterway

AGENCY: Coast Guard, DOT.

ACTION: Final rule.

SUMMARY: The Coast Guard is changing

the regulations governing several

bridges that cross the New Jersey

Intracoastal Waterway (NJICW). Those

bridges are: the Route 35 Bridge across

Manasquan River at NJICW mile 1.1, in

Brielle, New Jersey; the S37 Bridge

across Barnegat Bay at NJICW mile 14.1,

in Seaside Heights, New Jersey; the

US40–322 (Albany Avenue) Bridge

across Inside Thorofare at NJICW mile

70.0, in Atlantic City, New Jersey; and

the Route 52 (Ninth Street) Bridge

across Beach Thorofare at NJICW mile

80.4, in Ocean City, New Jersey.

Additionally, a new provision is added

that restricts openings of the Route 30

Bridge across Beach Thorofare at NJICW

mile 67.2. The changes are being made

to ease vehicular traffic congestion

caused by bridge openings in and

around seaside resort areas and to

reduce the need for these bridges to be

continually staffed by a drawtender

during off-peak periods when few

openings occur.

DATES: This final rule is effective on

February 17, 1998.

ADDRESSES: Documents as indicated in

this preamble are available for

inspection or copying at the office of the

Commander (Aowb), Fifth Coast Guard

District, Federal Building, 4th Floor, 431

Crawford Street, Portsmouth, Virginia

23704–5004, between 8 a.m. and 4:30

p.m., Monday through Friday, except

Federal holidays. The telephone number

is (757) 398–6222.

FOR FURTHER INFORMATION CONTACT:

Ann Deaton, Bridge Administrator, Fifth

Coast Guard District, (757) 398–6222.

SUPPLEMENTARY INFORMATION:

Regulatory History

On July 16, 1997, the Coast Guard

published in the Federal Register (62

FR 38043) a Notice of Proposed

Rulemaking (NPRM) entitled

Drawbridge Operations Regulations;

New Jersey Intracoastal Waterway. The

NPRM proposed changes in the

operating schedules of a number of

bridges. The changes are designed to

ease vehicular traffic congestion caused

by bridge openings in and around

seaside resort areas and to reduce the

need for these bridges to be continually

staffed by a drawtender during off-peak

periods when few openings occur. The

Coast Guard received 10 letters

commenting on various provisions of

the NPRM. No public hearing was

requested and none was held.

Background and Purpose

General

The NJICW extends approximately

118 statute miles from Manasquan Inlet

to Cape May Harbor. The NJICW is

primarily used by pleasure craft,

commercial, and sport fishing vessels.

General regulations governing the

operation of bridges are listed in

sections 117.1 through 117.49 of 33

CFR. Specific drawbridge regulations,