Federal Register / Vol. 65, No. 126 / Thursday, June 29, 2000 / Notices 40145

POSTAL SERVICE

Sunshine Act Meeting

AGENCY: United States Postal Service

Board of Governors

TIMES AND DATES: 10:00 a.m., Monday,

July 10, 2000; 8:30 a.m., Tuesday, July

11, 2000.

PLACE: Washington, DC, at U.S. Postal

Service Headquarters, 475 L’Enfant

Plaza, SW., in the Benjamin Franklin

Room.

STATUS: July 10 (Closed); July 11 (Open).

MATTERS TO BE CONSIDERED: 

Monday, July 10—10:00 a.m. (Closed)

1. Financial Performance and Schedule

for Fiscal Year 2001 Integrated

Financial Plan.

2. Strategic Planning.

3. Rate Case Update.

4. International Funds Transfer.

5. Priority Mail Processing Centers

(PMPCs).

6. Personnel Matters.

7. Compensation Issues.

Tuesday, July—8:30 a.m. (Open)

1. Minutes of the Previous Meeting, June

5–6, 2000.

2. Remarks of the Postmaster General/

Chief Executive Officer.

3. Board Resolution on Capital Funding.

4. Quarterly Report on Service

Performance.

5. Quarterly Report on Financial

Results.

6. Capital Investments.

a. Surface-Air Management System

(SAMS).

b. Delivery Operations Information

System (DOIS).

c. 362 Automated Flat Sorting

Machine (AFSM) 100s.

d. Mail Evaluation Instrument

(MERLIN).

7. Tentative Agenda for the August 7–

8, 2000, meeting in Reno, Nevada.

CONTACT PERSON FOR MORE INFORMATION:

David G. Hunter, Secretary of the Board,

U.S. Postal Service, 475 L’Enfant Plaza,

SW., Washington, DC 20260–1000.

Telephone (202) 268–4800.

David G. Hunter,

Secretary.

[FR Doc. 00–16668 Filed 6–27–00; 3:33 pm]

BILLING CODE 7710–12–M

RAILROAD RETIREMENT BOARD

Proposed Collection; Comment

Request

SUMMARY: In accordance with the

requirement of Section 3506(c)(2)(A) of

the Paperwork Reduction Act of 1995

which provides opportunity for public

comment on new or revised data

collections, the Railroad Retirement

Board (RRB) will publish periodic

summaries of proposed data collections.

Comments are invited on: (a) Whether

the proposed information collection is

necessary for the proper performance of

the functions of the agency, including

whether the information has practical

utility; (b) the accuracy of the RRB’s

estimate of the burden of the collection

of the information; (c) ways to enhance

the quality, utility, and clarity of the

information to be collected; and (d)

ways to minimize the burden related to

the collection of information on

respondents, including the use of

automated collection techniques or

other forms of information technology.

Title and purpose of information

collection:

Job Information Report, OMB 3220–

0193.

In July of 1997, the Railroad

Retirement Board (RRB) adopted

standards for the adjudication of

occupational disabilities under the

Railroad Retirement Act (RRA). As part

of these standards, the RRB requests job

information to determine an applicants

eligibility for an occupational disability.

The job information received from the

railroad employer and railroad

employee is compared, reconciled (if

needed), and then used in the

occupational disability determination

process. The process of obtaining

information from railroad employers

used to determine an applicant’s

eligibility for an occupational disability

is outlined in 20 CFR 220.13.

To determine an occupational

disability, the RRB determines if an

employee is precluded from performing

the full range of duties of his or her

regular railroad occupation. This is

accomplished by comparing the

restrictions on impairment(s) causes

against an employee’s ability to perform

his/her normal duties. To collect

information needed to determine the

effect of a disability on an applicant’s

ability to work, the RRB needs the

applicant’s work history. The RRB

currently utilizes Form G–251,

Vocational Report (OMB 3220–0141), to

obtain this information from the

employee applicant.

Note: Form G–251 is provided to all

applicants for employee disability annuities

and to those applicants for a widow(er)’s

disability annuity who indicate that they

have been employed at some time.

In accordance with the standards, the

RRB also requests pertinent job

information from employers. The

employer is given thirty days from the

date of the notice to respond. The

responses are not required, but are

voluntary. If the job information is

received timely, it is compared to the

job information provided by the

employee. Any material differences are

resolved by an RRB disability examiner.

Once resolved, the information is

compared to the restrictions caused by

the medical impairment. If the

restrictions prohibit the performance of

the regular railroad occupation, the

claimant is found occupationally

disabled.

The RRB uses two forms to secure job

information data from the railroad

employer. RRB Form G–251a, Employer

Job Information (job description), is

released to an employer when an

application for an occupational

disability is filed by an employee whose

regular railroad occupation is one of the

more common types of railroad jobs

(locomotive engineer, conductor,

switchman, etc.) It is accompanied by a * generic job description * for that

particular railroad job. The generic job

descriptions describe how these select

occupations are generally performed in

the railroad industry. However, not all

occupations are performed the same

way from railroad to railroad. Thus, the

employer is given an opportunity to

comment on whether the job description

matches the employee’s actual duties. If

the employer concludes that the generic

job description accurately describes the

work performed by the applicant, no

further action will be necessary. If the

employer determines that the tasks are

different, it may provide the RRB with

a description of the actual job tasks. The

employer has thirty days from the date

the form is released to reply.

Note: The generic job descriptions were

prepared and approved by a joint committee

consisting of representatives of railroad labor

and railroad management.

Proposes Form G–251b, Employer Fob

Information (general), is released to an

employer when an application for an

RRB occupational disability is filed by

an employee whose regular railroad

occupation does not have a generic job

description. It notifies the employer that

the employee has filed for a disability

annuity and that, if the employer

wishes, it may provide the RRB with job

duty information. The type of

information RRB is seeking is outlined

on the form. the employer has thirty

days from the date the form is released

to reply.

The RRB proposes minor non-burden

impacting changes to Form–251a and

G–251b. The completion time for Form

G–251a and G–251b is estimated at 20

minutes. Completion is voluntary. The

RRB estimates that approximately 125

40146 Federal Register / Vol. 65, No. 126 / Thursday, June 29, 2000 / Notices

1The Fund’s series are: Potomac OTC Plus Fund,

Potomac OTC/Short Fund, Potomac 30 Plus Fund,

Potomac 30/Short Fund, Potomac Small Cap Plus

Fund, Potomac Small Cap/Short Fund, Potomac

Internet Plus Fund, Potomac Internet/Short Fund,

Potomac U.S. Plus Fund, Potomac U.S./Short Fund,

Potomac Japan Plus Fund, Potomac Japan/Short

Fund and Potomac Money Market Fund.

G–251a’s and 305 G–251b’s are

completed annually.

FOR FURTHER INFORMATION CONTACT: To

request more information or to obtain a

copy of the information collection

justification, forms, and/or supporting

material, please call the RRB Clearance

Officer at (312) 751–3363. Comments

regarding the information collection

should be addressed to Ronald J.

Hodapp, Railroad Retirement Board, 844

N. Rush Street, Chicago, Illinois 60611–

2092. Written comments should be

received within 60 days of this notice.

Chuck Mierzwa,

Clearance Officer.

[FR Doc. 00–16488 Filed 6–28–00; 8:45 am]

BILLING CODE 7905–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. IC–24544; File No. 812–12048]

Investment Company Act of 1940;

Potomac Insurance Trust, et al.

June 22, 2000.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of application for an

order of exemption under section 6(c) of

the Investment Company Act of 1940

(‘‘1940 Act’’) for exemption from

sections 9(a), 13(a), 15(a) and 15(b) of

the 1940 Act and Rules 6e–2(b)(15) and

6e–3(T)(b)(15) thereunder.

SUMMARY OF APPLICATION: Applicants

seek an order pursuant to section 6(c) of

the 1940 Act for exemptions from the

provisions of sections 9(a), 13(a) and

15(b) of the 1940 Act and Rules 6e–

2(b)(15) and 6e–3(T)(b)(15) thereunder

to the extent necessary to permit shares

of any current or future series of the

Fund and shares of any other

investment company that is designed to

fund variable insurance products and

for which Rafferty Asset Management,

LLC (‘‘Rafferty’’), or any of its affiliates,

may serve now or in the future, as

investment adviser (the Fund and such

other investment companies referred to

collectively as the ‘‘Insurance Products

Funds’’) to be offered and sold to, and

held by variable annuity and variable

life insurance separate accounts of both

affiliated and unaffiliated insurance

companies (‘‘Participating insurance

Companies’’), qualified pension and

retirement plans outside of the separate

account context (‘‘Qualified Plans’’),

and Rafferty or any of its affiliates

(representing seed money investments

in the insurance Products

Funds)(‘‘Order’’).

APPLICANTS: Potomac Insurance Trust

(‘‘Fund’’) and Rafferty Asset

Management, LLC (‘‘Rafferty’’)

FILING DATE: This application was filed

on March 24, 2000.

HEARING OF NOTIFICATION OF HEARING: An

Order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing is the application or ask to be

notified if a hearing is ordered. Any

requests must be received by the

Commission by 5:30 p.m. on July 17,

2000. You may request a hearing in

writing, giving the nature of your

interest, the reason for your request, and

the issues you contest, and accompany

such request with proof of service on

the Applicants in the form of an

affidavit or, for lawyers, a certificate of

service. Persons who wish to be notified

of a hearing may request notification by

writing to the Commission’s Secretary.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, DC 20549.

Applicants, Daniel D. O’Neill, Esq.,

Managing Director, Rafferty Asset

Management, LLC, 1311 Mamaroneck

Avenue, White Plains, New York 10605.

FOR FURTHER INFORMATION CONTACT:

Lorna MacLeod, Senior Counsel, or

Keith Carpenter, Branch Chief, Office of

Insurance Products, Division of

Investment Management, at (202) 942–

0670.

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application, the complete Application is

available for a fee from the

Commission’s Public Reference Branch,

450 Fifth Street, NW., Washington, DC

20549–0102 (tel. (202) 942–8090).

Applicants’ Representations

1. The Fund is a Massachusetts

business trust registered under the 1940

Act as an open-end management

company. The Fund currently is

comprised of thirteen separately

managed series, each of which has its

own investment objective and policies.1

Each series offers Class A and Class B

shares, each of which have a different

expense structure. Additional series

could be added in the future.

2. Rafferty is registered under the

Investment Advisers Act of 1940 and

serves as the investment adviser for the

Fund.

3. Shares of the Insurance Products

Funds are or will be offered to separate

accounts of Participating Insurance

Companies to serve as investment

vehicles for variable annuity and

variable life insurance contracts

(including single, premium, scheduled

premium, modified single premium and

flexible premium contracts)

(collectively, ‘‘Variable Contracts’’).

These separate accounts either will be

registered as investment companies

under the 1940 Act or will be exempt

from such registration. Shares of the

Insurance Product Funds also are or will

be offered to Qualified Plans.

4. The Participating Insurance

Companies establish their own separate

accounts and design their own Variable

Contracts. Each Participating Insurance

Company will have the legal obligation

of satisfying all applicable requirements

under the federal securities laws. The

role of the Insurance Products Funds

will be limited to that of offering their

shares to separate accounts of

Participating Insurance Companies and

to Qualified Plans and fulfilling the

conditions set forth in the application

and described later in this notice. Each

Participating Insurance Company will

enter into a fund participating

agreement with the Insurance Products

Fund in which the Participating

Insurance Company invests.

Applicants’ Legal Analysis

1. Applicants request that the

Commission issue an order under

section 6(c) of the 1940 Act granting

exemptions from sections 9(a), 13(a),

15(a) and 15(b) thereof and Rules 6e–

2(b)(15) and 6e–3(T)(b)(15) thereunder,

to the extent necessary to permit shares

of the Insurance Products Funds to be

offered and sold to, and held by (a)

variable annuity and variable life

insurance separate accounts of the same

life insurance company or of any

affiliated life insurance company

(‘‘mixed funding’’); (b) separate

accounts of unaffiliated life insurance

companies (including both variable

annuity and variable life separate

accounts) (‘‘shared funding’’); (c)

qualified pension and retirement plans

outside the separate account context;

and (d) the Adviser or any of its

affiliates (representing seed money

investments in the Insurance Products

Funds).

2. In connection with the funding of

scheduled premium variable life

insurance contracts issued through a

separate account registered under the

1940 Act as a unit investment trust,

Rule 6e–2(b)(15) provides partial

exemptions from section 9(a), 13(a),

15(a) and 15(b) of the 1940 Act. These