Federal Register / Vol. 62, No. 220 / Friday, November 14, 1997 / Notices 61153

multiemployer plan valuations

following mass withdrawal under part

4281 apply to valuation dates occurring

in December 1997.

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 and

TDD, call 800–877–8339 and request

connection 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 in

determining a single-employer plan’s

variable-rate premium. The rate is the

‘‘applicable percentage’’ (described in

the statute and the regulation) of the

annual yield on 30-year Treasury

securities for the month preceding the

beginning of the plan year for which

premiums are being paid (the ‘‘premium

payment year’’). The yield figure is

reported in Federal Reserve Statistical

Releases G.13 and H.15.

For plan years beginning before July

1, 1997, the applicable percentage of the

30-year Treasury yield was 80 percent.

The Retirement Protection Act of 1994

(RPA) amended ERISA section

4006(a)(3)(E)(iii)(II) to provide that the

applicable percentage is 85 percent for

plan years beginning on or after July 1,

1997, through (at least) plan years

beginning before January 1, 2000.

However, under section 774(c) of the

RPA, the application of the amendment

is deferred for certain regulated public

utility (RPU) plans for as long as six

months. The applicable percentage for

RPU plans will therefore remain 80

percent for plan years beginning before

January 1, 1998. (The rules governing

the applicable percentages for ‘‘partial’’

RPU plans are described in § 4006.5(g)

of the premium rates regulation.)

For plans for which the applicable

percentage is 85 percent, the assumed

interest rate to be used in determining

variable-rate premiums for premium

payment years beginning in November

1997 is 5.38 percent (i.e., 85 percent of

the 6.33 percent yield figure for October

1997).

The following table lists the assumed

interest rates to be used in determining

variable-rate premiums for premium

payment years beginning between

December 1996 and November 1997.

The rates for July through November

1997 in the table reflect an applicable

percentage of 85 percent and thus apply

only to non-RPU plans. However, the

rates for months before July 1997, which

reflect an applicable percentage of 80

percent, apply to RPU (and ‘‘partial’’

RPU) plans as well as to non-RPU plans.

For premium payment years beginning in:

The assumed interest

rate is:

December 1996 ............................ 5.18

January 1997 ................................ 5.24

February 1997 .............................. 5.46

March 1997 ................................... 5.35

April 1997 ...................................... 5.54

May 1997 ...................................... 5.67

June 1997 ..................................... 5.55

July 1997 ...................................... 5.75

August 1997 .................................. 5.53

September 1997 ........................... 5.59

October 1997 ................................ 5.53

November 1997 ............................ 5.38

For premium payment years

beginning in November 1997, the

assumed interest rate to be used in

determining variable-rate premiums for

RPU plans (determined using an

applicable percentage of 80 percent) is

5.06 percent. For ‘‘partial’’ RPU plans,

the assumed interest rates to be used in

determining variable-rate premiums can

be computed by applying the rules in

§ 4006.5(g) of the premium rates

regulation. The PBGC’s premium

payment instruction booklet also

describes these rules and provides a

worksheet for computing the assumed

rate.

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

December 1997 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 10th day

of November 1997.

David M. Strauss,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 97–30044 Filed 11–13–97; 8:45 am]

BILLING CODE 7708–01–P

POSTAL SERVICE

United States Postal Service Board of

Governors; Sunshine Act Meeting;

Notification of Item Added to Meeting

Agenda

Date of Meeting: November 3, 1997.

Status: Closed.

Previous Announcement: 62 FR 55436,

October 24, 1997.

Change: At its meeting on November 3,

1997, the Board of Governors of the

United States Postal Service voted

unanimously to add an item to the

agenda of its closed meeting held on

that date:

Consideration of Amendment to Board

Bylaws.

Contact Person for More Information:

Thomas J. Koerber, Secretary of the

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

Plaza, SW., Washington, DC 20260–

1000. Telephone (202) 268–4800.

Thomas J. Koerber,

Secretary.

[FR Doc. 97–30165 Filed 11–12–97; 3:07 pm]

BILLING CODE 7710–12–M

RAILROAD RETIREMENT BOARD

Sunshine Act Meeting

Notice is hereby given that the

Railroad Retirement Board will hold a

meeting on November 19, 1997, 9:00

a.m., at the Board’s meeting room on the

8th floor of its headquarters building,

844 North Rush Street, Chicago, Illinois,

60611. The agenda for this meeting

follows:

Portion Open to the Public

(1) Draft Bill—Exemption from Full

Rent

(2) Medicare contract fiscal year 1998

budget

(3) Coverage Determination—

Transportation Management

Services, Inc.

(4) Employee Service—Environmental

Contractors with CSX

Transportation Company

(5) Regulations—Part 220 (Subpart C,

Occupational Disability)

(6) Fiscal Year 1998 Performance

Appraisal Plans

(7) Year 2000 Issues

(8) Labor Member Truth in Budgeting

Status Report

Portion Closed to the Public

(A) 1997 Performance Appraisals

(B) Pending Board appeals:

1. Beverly J. Anderson

2. Martha G. Arnold

3. Sandra B. Banner
61154 Federal Register / Vol. 62, No. 220 / Friday, November 14, 1997 / Notices

1Securities Exchange Act Release No. 26147

(October 3, 1988), 53 FR 39556 (October 7, 1988).

4. Gussie Y. Brown

5. Odel Clay

6. James C. Coutee

7. Barbara A. Donofrio

8. Robert C. Hoffman, Sr.

9. Ronald E. Houck

10. John A. Soderman

The person to contact for more

information is Beatrice Ezerski,

Secretary to the Board, Phone No. 312–

751–4920.

Dated: November 10, 1997.

Beatrice Ezerski,

Secretary to the Board.

[FR Doc. 97–30095 Filed 11–12–97; 9:52 am]

BILLING CODE 7905–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–26776]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

November 7, 1997.

Notice is hereby given that the

following filing(s) has/have been made

with the Commission pursuant to

provisions of the Act and rules

promulgated thereunder. All interested

persons are referred to the application(s)

and/or declaration(s) for complete

statements of the proposed

transaction(s) summarized below. The

application(s) and/or declaration(s) and

any amendments thereto is/are available

for public inspection through the

Commission’s Office of Public

Reference.

Interested persons wishing to

comment or request a hearing on the

application(s) and/or declaration(s)

should submit their views in writing by

December 1, 1997, to the Secretary,

Securities and Exchange Commission,

Washington, D.C. 20549, and serve a

copy on the relevant applicant(s) and/or

declarant(s) at the address(es) specified

below. Proof of service (by affidavit or,

in case of an attorney at law, by

certificate) should be filed with the

request. Any request for hearing shall

identify specifically the issues of fact or

law that are disputed. A person who so

requests will be notified of any hearing,

if ordered, and will receive a copy of

any notice or order issued in the matter.

After said date, the application(s) and/

or declaration(s), as filed or as amended,

may be granted and/or permitted to

become effective.

Central and South West Services, Inc.

(70–7671)

Central and South West Services, Inc.

(‘‘CSWS’’), 1616 Woodall Rodgers

Freeway, P.O. Box 660164, Dallas, Texas

75266, a non-utility subsidiary company

of Central and South West Corporation,

a registered holding company, has filed

a post-effective amendment under

sections 9(a) and 10 of the Act and rule

54 under the Act to an applicationdeclaration filed under sections 9(a) and

10 of the Act.

By orders dated August 10, 1990

(HCAR No. 25132), December 18, 1992

(HCAR No. 25714), and December 28,

1994 (HCAR No. 26206) (‘‘Orders’’),

CSWS was authorized, among other

things, to license and sell to nonassociate entities through December 31,

1997 specialized computer programs

and to provide support services to

licensees and entities that purchased the

software. The support services were to

include program enhancements and

problem resolution and were to be sold

to non-associate companies for an

amount not less than cost to CSWS.

The Orders also authorized CSWS to

make expenditures of up to $1 million

per calendar year and to make

expenditures of up to $250,000 per

project to develop or change software

for non-associate entities; to market

software and services; and to add up to

ten employees to support these

activities.

Finally, the Orders authorized CSWS

to sell reserve computer capacity and to

provide date management services to

non-associate entities provided that

CSWS would limit computer capacity

sales to non-associate entities to 50

percent of its total capacity. CSWS now requests that the

Commission extend the term of the

authorizations contained in the Orders

through December 31, 2002.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–29988 Filed 11–13–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39306; File No. SR–AMEX–

97–37]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the American Stock Exchange, Inc.,

Relating to Its Designated Options

Area

November 6, 1997.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’), 15 U.S.C. 78s(b)(1), notice is

hereby given that on October 14, 1997,

the American Stock Exchange, Inc. (the

‘‘Amex’’ or the ‘‘Exchange’’) filed with

the Securities and Exchange

Commission (the ‘‘Commission’’) the

proposed rule change as described in

Item I, II, and III below, which Items

have been prepared by the Exchange.

The Commission is publishing this

notice to solicit comments on the

proposed rule change from interested

persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Amex proposes to amend its

policy to include additional physically

separate locations on the Exchange’s

trading floor where options on Amexlisted stocks may trade. The information

will be found in an upcoming

information circular of the Exchange.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory for, the Proposed Rule Change

In its filing with the Commission, the

Amex included statements concerning

the purpose of and basis for the

proposed rule change and discussed any

comments it received on the proposed

rule change. The text of these statements

may be examined at the places specified

in Item IV below. The Amex has

prepared summaries, set forth in

sections A, B, and C below, of the most

significant aspects of such statements.

A. Self-Regulatory Organization’s

Statement of the Purpose of, and the

Statutory Basis for, the Proposed Rule

Change

(1) Purpose

In 1988, the Exchange received

Commission approval to trade options

on Amex-listed stocks.1 The approval

was based upon the Amex’s trading

floor for equities and options on those

equities being sufficiently separated

such that there could be no time and