18692 Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices 

previously unconsidered effects on 

historic properties, as consultation for 

site decommissioning has been 

conducted previously. There are no 

additional impacts to historic properties 

associated with the disposal method 

and location for demolition debris. 

Therefore, no consultation is required 

under Section 106 of the National 

Historic Preservation Act. The NRC 

discussed the proposed action with the 

State of California Radiologic Health 

Branch. The state official had no 

comments. 

III. Finding of No Significant Impact 

On the basis of the environmental 

assessment, the NRC concludes that the 

proposed action will not have a 

significant effect on the quality of the 

human environment. Accordingly, 

preparation of an environmental impact 

statement for the proposed action is not 

warranted. 

IV. Further Information 

For further details with respect to the 

proposed action, see the licensee’s letter 

dated December 20, 2006. (ADAMS 

Accession No. ML063560061) The NRC 

Public Documents Room is located at 

NRC Headquarters in Rockville, MD, 

and can be contacted at (800) 397–4209. 

Documents may be examined, and/or 

copied for a fee, at the NRC’s Public 

Document Room (PDR), located at One 

White Flint North, 11555 Rockville Pike 

(first floor), Rockville, Maryland. 

Publicly available records will be 

accessible electronically from the 

Agencywide Documents Access and 

Management System’s (ADAMS) Public 

Library component on the NRC Web 

site, http://www.nrc.gov (the Public 

Electronic Reading Room). Persons who 

do not have access to ADAMS or who 

encounter problems in accessing the 

documents located in ADAMS should 

contact the NRC PDR Reference staff by 

telephone at 1–800–397–4209, or 301–

415–4737, or by e-mail at pdr@nrc.gov. 

Dated at Rockville, Maryland, this 5th day 

of April, 2007. 

For the Nuclear Regulatory Commission. 

Keith I. McConnell, 

Deputy Director, Decommissioning and 

Uranium Recovery Licensing Directorate, 

Division of Waste Management and 

Environmental Protection, Office of Federal 

and State Materials and Environmental 

Management Programs. 

[FR Doc. E7–7074 Filed 4–12–07; 8:45 am] 

BILLING CODE 7590–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Proposed Submission of Information 

Collection for OMB Review; Comment 

Request; Procedures for Implementing 

Multiemployer Plan Elections 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of intention to request 

OMB approval. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (PBGC) intends to request 

that the Office of Management and 

Budget (OMB) approve, under the 

Paperwork Reduction Act, a collection 

of information under its procedures on 

multiemployer plan elections. This 

notice informs the public of the PBGC’s 

intent and solicits public comment on 

the collection of information. 

DATES: Comments should be submitted 

by June 12, 2007. 

ADDRESSES: Comments may be 

submitted by any of the following 

methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the Web 

site instructions for submitting 

comments. 

• E-mail: 

paperwork.comments@pbgc.gov. 

• Fax: 202–326–4224. 

• Mail or Hand Delivery: Legislative 

and Regulatory Department, Pension 

Benefit Guaranty Corporation, 1200 K 

Street, NW., Washington, DC 20005–

4026. Comments received will be posted 

to http://www.pbgc.gov. 

Copies of the collection of 

information may be obtained without 

charge by writing to the Disclosure 

Division of the Office of the General 

Counsel of PBGC at the above address 

or by visiting the Disclosure Division or 

calling 202–326–4040 during normal 

business hours. (TTY and TDD users 

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

connected to 202–326–4040.) 

FOR FURTHER INFORMATION CONTACT: 

Constance Markakis, Attorney, 

Legislative and Regulatory Department, 

Pension Benefit Guaranty Corporation, 

1200 K Street, NW., Washington, DC 

20005–4026, 202–326–4000, ext. 6779. 

(For TTY and TDD, call 800–877–8339 

and request connection to 202–326–

4000, ext. 6779.) 

SUPPLEMENTARY INFORMATION: Section 

1106 of the Pension Plan Protection Act 

of 2006 (‘‘PPA 2006’’) amends the 

definition of a ‘‘multiemployer plan’’ in 

Title I of ERISA and the Internal 

Revenue Code of 1986 to allow certain 

plans to elect to be multiemployer plans 

pursuant to procedures prescribed by 

PBGC. A plan is eligible for the election 

if it is (i) a plan revoking a previous 

election to remain a single-employer 

plan under section 3(37)(E) of ERISA, or 

(ii) a plan with respect to which 

substantially all employer contributions 

were made by tax-exempt employers. In 

either case, for the three plan years 

preceding the enactment of PPA 2006, 

the plan must have been a plan to which 

more than one employer was required to 

contribute that was maintained 

pursuant to one or more collective 

bargaining agreements. PPA 2006 also 

imposes other requirements for an 

election, and provides certain 

exemptions from the requirements. All 

elections must be made by August 17, 

2007. 

PBGC’s proposed procedures for 

implementing the multiemployer plan 

election requires a plan to submit 

specified information to PBGC to 

demonstrate that it meets the statutory 

eligibility requirements. The 

information collection includes names 

of contributing employers, copies of 

collective bargaining agreements that 

require contributions to the plan, 

numbers of participants and 

contributions to the plan under those 

collective bargaining agreements and 

the plan as a whole, information on 

common control among contributing 

employers to the plan, copies of the 

plan and trust documents, and evidence 

of the tax-exempt status of contributing 

employers and the percentage of total 

plan contributions attributable to these 

employers. For the limited purposes of 

the election under section 1106 of PPA 

2006, the procedures provide a safe 

harbor provision for meeting the 

multiemployer criterion that a plan be 

‘‘maintained pursuant to collective 

bargaining agreements.’’

The PBGC intends to request that 

OMB approve this collection of 

information for three years. (Although 

plans must make an election by August 

17, 2007, PBGC may request additional 

information, after that date, that is 

needed to review the election.) An 

agency may not conduct or sponsor, and 

a person is not required to respond to, 

a collection of information unless it 

displays a currently valid OMB control 

number. 

The PBGC estimates that from 20 to 

50 plans will respond to this collection 

of information. The PBGC further 

estimates that the average burden of this 

collection of information is 5 hours and 

$1,875 per plan, with an average total 

burden of 175 hours and $65,625. 

The PBGC is soliciting public 

comments to—


pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices 18693 

• Evaluate whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

collection of information, including the 

validity of the methodology and 

assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submission of 

responses. 

Issued in Washington, DC, this 11th day of 

April 2007. 

Marc A. Felton, 

Deputy Chief Information Officer, Pension 

Benefit Guaranty Corporation. 

[FR Doc. E7–7126 Filed 4–12–07; 10:57 am] 

BILLING CODE 7709–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Required Interest Rate Assumption for 

Determining Variable-Rate Premium for 

Single-Employer Plans; Interest on 

Late Premium Payments; Interest on 

Underpayments and Overpayments of 

Single-Employer Plan Termination 

Liability and Multiemployer Withdrawal 

Liability; 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 April 2007. 

The interest assumptions for performing 

multiemployer plan valuations 

following mass withdrawal under part 

4281 apply to valuation dates occurring 

in May 2007. The interest rates for late 

premium payments under part 4007 and 

for underpayments and overpayments of 

single-employer plan termination 

liability under part 4062 and 

multiemployer withdrawal liability 

under part 4219 apply to interest 

accruing during the second quarter 

(April through June) of 2007. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion, Manager, Regulatory 

and Policy Division, Legislative and 

Regulatory Department, 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: 

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 

Protection Act of 2006, for premium 

payment years beginning in 2006 or 

2007, the required interest rate is the 

‘‘applicable percentage’’ 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 (the ‘‘premium payment 

year’’). 

On February 2, 2007 (at 72 FR 4955), 

the Internal Revenue Service (IRS) 

published final regulations containing 

updated mortality tables for determining 

current liability under section 412(l)(7) 

of the Code and section 302(d)(7) of 

ERISA for plan years beginning on or 

after January 1, 2007. As a result, in 

accordance with section 

4006(a)(3)(E)(iii)(II) of ERISA, the 

‘‘applicable percentage’’ to be used in 

determining the required interest rate 

for plan years beginning in 2007 is 100 

percent. 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in April 2007 is 5.84 percent (i.e., 100 

percent of the 5.84 percent composite 

corporate bond rate for March 2007 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 May 

2006 and April 2007. 

For premium payment years 

beginning in: 

The required interest rate is: 

May 2006 .................................. 5.25 

June 2006 ................................. 5.35 

July 2006 .................................. 5.36 

August 2006 ............................. 5.36 

September 2006 ....................... 5.19 

October 2006 ............................ 5.06 

November 2006 ........................ 5.05 

December 2006 ........................ 4.90 

January 2007 ............................ 5.75 

February 2007 .......................... 5.89 

March 2007 ............................... 5.85 

April 2007 ................................. 5.84 

Late Premium Payments; 

Underpayments and Overpayments of 

Single-Employer Plan Termination 

Liability 

Section 4007(b) of ERISA and 

§ 4007.7(a) of the PBGC’s regulation on 

Payment of Premiums (29 CFR part 

4007) require the payment of interest on 

late premium payments at the rate 

established under section 6601 of the 

Internal Revenue Code. Similarly, 

§ 4062.7 of the PBGC’s regulation on 

Liability for Termination of SingleEmployer Plans (29 CFR part 4062) 

requires that interest be charged or 

credited at the section 6601 rate on 

underpayments and overpayments of 

employer liability under section 4062 of 

ERISA. The section 6601 rate is 

established periodically (currently 

quarterly) by the Internal Revenue 

Service. The rate applicable to the 

second quarter (April through June) of 

2007, as announced by the IRS, is 8 

percent. 

The following table lists the late 

payment interest rates for premiums and 

employer liability for the specified time 

periods: 

From Through Interest rate 

(percent) 

4/1/01 ................ 6/30/01 8 

7/1/01 ................ 12/31/01 7 

1/1/02 ................ 12/31/02 6 

1/1/03 ................ 9/30/03 5 

10/1/03 .............. 3/31/04 4 

4/1/04 ................ 6/30/04 5 

7/1/04 ................ 9/30/04 4 

10/1/04 .............. 3/31/05 5 

4/1/05 ................ 9/30/05 6 

10/1/05 .............. 6/30/06 7 

7/1/06 ................ 6/30/07 8 

Underpayments and Overpayments of 

Multiemployer Withdrawal Liability 

Section 4219.32(b) of the PBGC’s 

regulation on Notice, Collection, and 

Redetermination of Withdrawal 

Liability (29 CFR part 4219) specifies 

the rate at which a multiemployer plan 

is to charge or credit interest on 

underpayments and overpayments of 


pwalker on PROD1PC71 with NOTICES