75090 Federal Register / Vol. 69, No. 240 / Wednesday, December 15, 2004 / Notices 

repayment of such loan or other 

extension of credit in accordance with 

its terms or written modifications 

thereof, if: 

(a) No interest or other fee is charged 

to the plan, and no discount for 

payment in cash is relinquished by the 

plan, in connection with the loan or 

extension of credit; 

(b) The proceeds of the loan or 

extension of credit are used only for a 

purpose incidental to the ordinary 

operation of the plan which arises in 

connection with the plan’s inability to 

liquidate, or otherwise access its assets 

or access data as a result of a Y2K 

problem. 

(c) The loan or extension of credit is 

unsecured; 

(d) The loan or extension of credit is 

not directly or indirectly made by an 

employee benefit plan; and 

(e) The loan or extension of credit 

begins on or after November 1, 1999 and 

is repaid or terminated no later than 

December 31, 2000. 

Section III. September 11, 2001 Market 

Disruption Exemption 

Effective September 11, 2001 through 

January 9, 2002, the restrictions of 

section 406(a)(1)(B) and (D) and section 

406(b)(2) of the Act, and the taxes 

imposed by section 4975(a) and (b) of 

the Code, by reason of section 

4975(c)(1)(B) and (D) of the Code, shall 

not apply to the lending of money or 

other extension of credit from a party in 

interest or disqualified person to an 

employee benefit plan, nor to the 

repayment of such loan or other 

extension of credit in accordance with 

its terms or written modifications 

thereof, if: 

(a) No interest or other fee is charged 

to the plan, and no discount for 

payment in cash is relinquished by the 

plan, in connection with the loan or 

extension of credit; 

(b) The proceeds of the loan or 

extension of credit are used only for a 

purpose incidental to the ordinary 

operation of the plan which arises in 

connection with difficulties 

encountered by the plan in liquidating, 

or otherwise accessing its assets, or 

accessing its data in a timely manner as 

a direct or indirect result of the 

September 11, 2001 disruption; 

(c) The loan or extension of credit is 

unsecured; 

(d) The loan or extension of credit is 

not directly or indirectly made by an 

employee benefit plan; and 

(e) The loan or extension of credit 

begins on or after September 11, 2001, 

and is repaid or terminated no later than 

January 9, 2002. 

Section IV. Prospective General 

Exemption 

If this proposed class exemption is 

granted, effective as of the date 

following the date of publication of the 

final exemption in the Federal Register, 

the restrictions of section 406(a)(1)(B) 

and (D) and section 406(b)(2) of the Act, 

and the taxes imposed by section 

4975(a) and (b) of the Code, by reason 

of section 4975(c)(1)(B) and (D) of the 

Code, shall not apply to the lending of 

money or other extension of credit from 

a party in interest or disqualified person 

to an employee benefit plan, nor to the 

repayment of such loan or other 

extension of credit in accordance with 

its terms or written modifications 

thereof, if: 

(a) No interest or other fee is charged 

to the plan, and no discount for 

payment in cash is relinquished by the 

plan, in connection with the loan or 

extension of credit; 

(b) The proceeds of the loan or 

extension of credit are used only—

(1) for the payment of ordinary 

operating expenses of the plan, 

including the payment of benefits in 

accordance with the terms of the plan 

and periodic premiums under an 

insurance or annuity contract, or 

(2) for a purpose incidental to the 

ordinary operation of the plan; 

(c) The loan or extension of credit is 

unsecured; 

(d) The loan or extension of credit is 

not directly or indirectly made by an 

employee benefit plan; and 

(3) The loan is not described in 

section 408(b)(3) of ERISA or section 

4975(d)(3) of the Code. 

Section V: Definitions 

(a) For purposes of section II, a ‘‘Y2K 

problem’’ is a disruption of computer 

operations resulting from a computer 

system’s inability to process data 

because such system recognizes years 

only by the last two digits, causing a 

‘‘00’’ entry to be read as the year ‘‘1900’’

rather than the year ‘‘2000.’’

(b) For purposes of section III, the 

‘‘September 11, 2001 disruption’’ is the 

disruption to the United States financial 

and securities markets and/or the 

operation of persons providing 

administrative services to employee 

benefit plans, resulting from the acts of 

terrorism that occurred on September 

11, 2001. 

(c) For purposes of this exemption, 

the terms ‘‘employee benefit plan’’ and 

‘‘plan’’ refer to an employee benefit plan 

described in ERISA section 3(3) and/or 

a plan described in section 4975(e)(1) of 

the Code.

Signed at Washington, DC, this 10th day of 

December, 2004. 

Ivan L. Strasfeld, 

Director, Office of Exemption Determinations, 

Employee Benefits Security Administration 

U.S. Department of Labor.

[FR Doc. 04–27451 Filed 12–14–04; 8:45 am] 

BILLING CODE 4520–29–P

NUCLEAR REGULATORY 

COMMISSION 

Sunshine Act Meeting

AGENCY HOLDING THE MEETING: Nuclear 

Regulatory Commission

DATE: Week of December 13, 2004.

PLACE: Commissioners’ Conference 

Room, 11555 Rockville Pike, Rockville, 

Maryland.

STATUS: Public and Closed.

ADDITIONAL MATTERS TO BE CONSIDERED: 

Week of December 13, 2004

Tuesday, December 14, 2004

12:55 p.m. Affirmation Session 

(Public Meeting) (Tentative) 

A. Hydro Resources, Inc. Petition for 

Review of LBP–04–23 (Final 

Environmental Impact Statement 

Supplementation) (Tentative) 

b. State of Alaska Department of 

Transportation and Public Facilities 

(Confirmatory Order Modifying 

License); Intervenor’s Motion for 

Reconsideration of CLI–04–26 

(Tentative) 

c. Final Amendments to 10 CFR Part 

50, Appendix E, Relating to (1) Nuclear 

Regulatory Commission Review of 

Changes to Emergency Action Levels, 

Paragraph IV.B and (2) Exercise 

Requirements for Co-Located Licensees, 

Paragraph IV.F.2 (Tentative) 

1 p.m. Briefing on Emergency 

Preparedness Program Initiatives (Public 

Meeting) (Contact: Nader Mamish, 301–

415–1086) 

This meeting will be webcast live at 

the Web address—http://www.nrc.gov.

The schedule for Commission 

meetings is subject to change on short 

notice. To verify the status of meetings 

call (recording)—(301) 415–1292. 

Contact person for more information: 

Dave Gamberoni, (301) 415–1651.

* * * * *

The NRC Commission Meeting 

Schedule can be found on the Internet 

at: http://www.nrc.gov/what-we-do/

policy-making/schedule.html.

* * * * *

The NRC provides reasonable 

accommodation to individuals with 

disabilities where appropriate. If you 

need a reasonable accommodation to 

Federal Register / Vol. 69, No. 240 / Wednesday, December 15, 2004 / Notices 75091

1 15 U.S.C. 78l(d).

2 17 CFR 240.12d2–2(d).

participate in these public meetings, or 

need this meeting notice or the 

transcript or other information from the 

public meetings in another format (e.g.,

braille, large print), please notify the 

NRC’s Disability program Coordinator, 

August Spector, at 301–415–7080, TDD: 

301–415–2100, or by e-mail at 

aks@nrc.gov. Determinations on 

requests for reasonable accommodation 

will be made on a case-by-case basis.

* * * * *

This notice is distributed by mail to 

several hundred subscribers; if you no 

longer wish to receive it, or would like 

to be added to the distribution, please 

contact the Office of the Secretary, 

Washington, DC 20555 (301–415–1969). 

In addition, distribution of this meeting 

notice over the Internet system is 

available. If you are interested in 

receiving this Commission meeting 

schedule electronically please send an 

electronic message to dkw@nrc.gov.

Dated: December 10, 2004. 

Sandy Joosten, 

Office of the Secretary.

[FR Doc. 04–27491 Filed 12–13–04; 9:24 am] 

BILLING CODE 7590–01–M

PENSION BENEFIT GUARANTY 

CORPORATION 

Required Interest Rate Assumption for 

Determining Variable-Rate Premium; 

Interest Assumptions for 

Multiemployer Plan Valuations 

Following Mass Withdrawal

AGENCY: Pension Benefit Guaranty 

Corporation.

ACTION: Notice of interest rates and 

assumptions. 

SUMMARY: This notice informs the public 

of the interest rates and assumptions to 

be used under certain Pension Benefit 

Guaranty Corporation regulations. These 

rates and assumptions are published 

elsewhere (or can be derived from rates 

published elsewhere), but are collected 

and published in this notice for the 

convenience of the public. Interest rates 

are also published on the PBGC’s Web 

site (http://www.pbgc.gov).

DATES: The required interest rate for 

determining the variable-rate premium 

under part 4006 applies to premium 

payment years beginning in December 

2004. The interest assumptions for 

performing multiemployer plan 

valuations following mass withdrawal 

under part 4281 apply to valuation dates 

occurring in January 2005.

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. (TTY/TDD users 

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

connected to 202–326–4024.)

SUPPLEMENTARY INFORMATION: 

Variable-Rate Premiums 

Section 4006(a)(3)(E)(iii)(II) of the 

Employee Retirement Income Security 

Act of 1974 (ERISA) and § 4006.4(b)(1) 

of the PBGC’s regulation on Premium 

Rates (29 CFR part 4006) prescribe use 

of an assumed interest rate (the 

‘‘required interest rate’’) in determining 

a single-employer plan’s variable-rate 

premium. Pursuant to the Pension 

Funding Equity Act of 2004, for 

premium payment years beginning in 

2004 or 2005, the required interest rate 

is the ‘‘applicable percentage’’

(currently 85 percent) of the annual rate 

of interest determined by the Secretary 

of the Treasury on amounts invested 

conservatively in long-term investment 

grade corporate bonds for the month 

preceding the beginning of the plan year 

for which premiums are being paid. 

Thus, the required interest rate to be 

used in determining variable-rate 

premiums for premium payment years 

beginning in December 2004 is 4.75 

percent (i.e., 85 percent of the 5.59 

percent composite corporate bond rate 

for November 2004 as determined by the 

Treasury).

The following table lists the required 

interest rates to be used in determining 

variable-rate premiums for premium 

payment years beginning between 

January 2004 and December 2004.

For premium payment years 

beginning in: 

The required 

interest rate is: 

January 2004 ........................ 4.94 

February 2004 ...................... 4.83 

March 2004 ........................... 4.79 

April 2004 ............................. 4.62 

May 2004 .............................. 4.98 

June 2004 ............................. 5.26 

July 2004 .............................. 5.25 

August 2004 ......................... 5.10 

September 2004 ................... 4.95 

October 2004 ........................ 4.79 

November 2004 .................... 4.73 

December 2004 .................... 4.75 

Multiemployer Plan Valuations 

Following Mass Withdrawal 

The PBGC’s regulation on Duties of 

Plan Sponsor Following Mass 

Withdrawal (29 CFR part 4281) 

prescribes the use of interest 

assumptions under the PBGC’s 

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044). The interest assumptions 

applicable to valuation dates in January 

2005 under part 4044 are contained in 

an amendment to part 4044 published 

elsewhere in today’s Federal Register. 

Tables showing the assumptions 

applicable to prior periods are codified 

in appendix B to 29 CFR part 4044.

Issued in Washington, DC, on this 9th day 

of December 2004. 

Joseph H. Grant, 

Deputy Executive Director and Chief 

Operating Officer, Pension Benefit Guaranty 

Corporation.

[FR Doc. 04–27444 Filed 12–14–04; 8:45 am] 

BILLING CODE 7708–01–P

SECURITIES AND EXCHANGE 

COMMISSION 

Issuer Delisting; Notice of Application 

of Plymouth Rubber Company To 

Withdraw Its Class A and Class B 

Common Stock, $.01 par Value, From 

Listing and Registration on the 

American Stock Exchange LLC File No. 

1–05197 

December 9, 2004. 

On November 30, 2004, Plymouth 

Rubber Company, Inc., a Massachusetts 

corporation (‘‘Issuer’’), filed an 

application with the Securities and 

Exchange Commission (‘‘Commission’’), 

pursuant to section 12(d) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 12d2–2(d) 

thereunder,2 to withdraw its class A and 

class B common stock, $.01 par value 

(‘‘Securities’’), from listing and 

registration on the American Stock 

Exchange LLC (‘‘Amex’’).

The Issuer states that the reasons it is 

taking such action to withdraw its 

Securities from listing and registration 

on the Amex are as follows: (i) The 

Issuer’s current non-compliance with 

certain Amex quantitative standards for 

continued listing; and (ii) the likely 

inability of the Issuer to regain 

compliance with Amex quantitative 

standards, in accordance with a plan of 

compliance the Issuer submitted to 

Amex, which the Amex approved in 

2003, by the end of the current fiscal 

year on December 3, 2004. The Issuer 

states that it is currently considering the 

alternative over-the-counter markets to 

trade the Securities. 

The Issuer states in its application 

that it has met the requirements of 

Amex Rule 18 by complying with all 

applicable laws in the State of 

Massachusetts, in which it is 

incorporated, and with the Amex’s rules 

governing an issuer’s voluntary