48406 Federal Register / Vol. 61, No. 179 / Friday, September 13, 1996 / Rules and Regulations

List of Subjects in 28 CFR Part 0

Authority delegations (government

agencies), Government employees,

Organization and functions (government

agencies), Whistleblowing.

Accordingly, part 0 of chapter I of

Title 28 of the Code of Federal

Regulations is amended as follows:

PART 0—ORGANIZATION OF THE

DEPARTMENT OF JUSTICE

1. The authority citation for Part 0

continues to read as follows:

Authority: 5 U.S.C. 301; 28 U.S.C. 509,

510, 515–519.

2. In part 0, subpart CC, a new § 0.197

is added to read as follows:

§ 0.197 Agreements, in connection with

criminal proceedings or investigations,

promising non-deportation or other

immigration benefits.

The Immigration and Naturalization

Service (Service) shall not be bound, in

the exercise of its authority under the

immigration laws, through plea

agreements, cooperation agreements, or

other agreements with or for the benefit

of alien defendants, witnesses, or

informants, or other aliens cooperating

with the United States Government,

except by the authorization of the

Commissioner of the Service or the

Commissioner’s delegate. Both the

agreement itself and the necessary

authorization must be in writing to be

effective, and the authorization shall be

attached to the agreement.

Dated: September 9, 1996.

Janet Reno,

Attorney General.

[FR Doc. 96–23491 Filed 9–12–96; 8:45 am]

BILLING CODE 4410–01–M

PENSION BENEFIT GUARANTY

CORPORATION

29 CFR Part 4044

Allocation of Assets in SingleEmployer Plans; Interest Rate 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 October 1996.

EFFECTIVE DATE: October 1, 1996.

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 (202–326–4179

for TTY and TDD).

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 rates

and factors. These interest rates and

factors are intended to reflect current

conditions in the financial and annuity

markets.

Two sets of interest rates and factors

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 rates and

factors for valuing benefits in plans with

valuation dates during October 1996.

For annuity benefits, the interest rates

will be 6.30 percent for the first 20 years

following the valuation date and 4.75

percent thereafter. For benefits to be

paid as lump sums, the interest

assumptions to be used by the PBGC

will be 5.25 percent for the period

during which benefits are in pay status,

4.50 percent during the seven-year

period directly preceding the benefit’s

placement in pay status, and 4.00

percent during any other years

preceding the benefit’s placement in pay

status. The annuity and lump sum

interest assumptions are unchanged

from those in effect for September 1996.

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 rates and factors promptly so

that the rates and factors 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 October 1996, the PBGC finds

that good cause exists for making the

rates and factors 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 hereby amended as

follows:

PART 4044—[AMENDED]

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 36 is

added to Table II, as set forth below.

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 =

* * * * * * *

Oct. 1996 ........................................................................... .0630 1–20 .0475 >20 N/A N/A
Federal Register / Vol. 61, No. 179 / Friday, September 13, 1996 / Rules and Regulations 48407

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 i

1 i2 i3 n1 n2

* * * * * * *

36 ........................................ 10–1–96 11–1–96 5.25 4.50 4.00 4.00 7 8

Issued in Washington, DC, on this 9th day

of September 1996.

Martin Slate,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 96–23474 Filed 9–12–96; 8:45 am]

BILLING CODE 7708–01–P

ENVIRONMENTAL PROTECTION

AGENCY

40 CFR Part 52

[NM29–1–7272a; FRL–5549–9]

Approval and Promulgation of

Implementation Plan for New Mexico—

Albuquerque/Bernalillo County:

General Conformity Rules

AGENCY: Environmental Protection

Agency (EPA).

ACTION: Direct final rule.

SUMMARY: This action approves the

Albuquerque/Bernalillo County State

Implementation Plan (SIP) revision that

contains regulations for implementing

and enforcing the general conformity

rules which the EPA promulgated on

November 30, 1993 (58 FR 63214).

Specifically, the general conformity

rules enable the Albuquerque/Bernalillo

County Air Quality Control Board to

review conformity of all Federal actions

(see 40 CFR part 51, subpart W—

Determining Conformity of General

Federal Actions to State or Federal

Implementation Plans) with the control

strategy SIP’s submitted for the

nonattainment and maintenance areas

within the boundary of Bernalillo

County. This approval action is

intended to streamline the conformity

process and allow direct consultation

among agencies at the local levels. The

Federal actions by the Federal Highway

Administration and Federal Transit

Administration (under 23 U.S.C. or the

Federal Transit Act) are covered by the

transportation conformity rules under

40 CFR part 51, subpart T—Conformity

to State or Federal Implementation

Plans of Transportation Plans, Programs,

and Projects Developed, Funded or

Approved Under Title 23 U.S.C. or the

Federal Transit Act. The EPA approved

the Albuquerque/Bernalillo County

transportation conformity SIP on

November 8, 1995 (60 FR 56241).

The EPA is approving this SIP

revision under sections 110(k) and 176

of the Clean Air Act (the Act). The

rationale for the approval and other

information are provided in this

document.

DATES: This action is effective on

November 12, 1996, unless adverse or

critical comments are received by

October 15, 1996. If the effective date is

delayed, timely notice will be published

in the Federal Register.

ADDRESSES: Copies of the Albuquerque/

Bernalillo County General Conformity

SIP and other relevant information are

available for inspection during normal

business hours at the following

locations. Interested persons wanting to

examine these documents should make

an appointment with the appropriate

office at least 24 hours before the

visiting day:

Air Planning Section (6PDL),

Multimedia Planning and Permitting

Division, Environmental Protection

Agency, Region 6, 1445 Ross Avenue,

Dallas, Texas 75202, Telephone: (214)

665–7214.

Air and Radiation Docket and

Information Center, Environmental

Protection Agency, 401 M Street,

S.W., Washington, D.C. 20460.

Air Pollution Control Division,

Albuquerque Environmental Health

Department, One Civic Plaza,

Albuquerque, New Mexico 87103,

Telephone: (505) 768–2600.

FOR FURTHER INFORMATION CONTACT: Mr.

J. Behnam, P. E., Air Planning Section

(6PDL), Multimedia Planning and

Permitting Division , Environmental

Protection Agency, Region 6, 1445 Ross

Avenue, Dallas, Texas 75202, telephone

(214) 665–7247.

SUPPLEMENTARY INFORMATION:

I. Background

Conformity provisions first appeared

in the Act as amended in 1977 (Pub. L.

95–95). Although these provisions did

not define conformity, they provided

that no Federal department could

engage in, support in any way or

provide financial assistance for, license

or permit, or approve any activity which

did not conform to a SIP that has been

approved or promulgated for the

nonattainment or maintenance areas.

The 1990 Amendments of the Act

expanded the scope and content of the

conformity provisions by defining

conformity to an implementation plan.

Conformity is defined in section 176(c)

of the Act as conformity to the SIP’s

purpose of eliminating or reducing the

severity and number of violations of the

National Ambient Air Quality Standards

and achieving expeditious attainment of

such standards, and that such activities

will not: (1) cause or contribute to any

new violation of any standard in any

area, (2) increase the frequency or

severity of any existing violation of any

standard in any area, or (3) delay timely

attainment of any standard or any

required interim emission reductions or

other milestones in any area.

The Act requires EPA to promulgate

criteria and procedures for determining

conformity of all other Federal actions

in the nonattainment or maintenance

areas (actions other than those under

Title 23 U.S.C. or the Federal Transit

Act ) to a SIP. The criteria and

procedures developed for this purpose