Federal Register / Vol. 63, No. 103 / Friday, May 29, 1998 /Rules and Regulations 29355

of the benefit to which a participant or

beneficiary is entitled under title IV of

ERISA as of the termination date, using

the PBGC interest rates and factors in

effect on that date. The PBGC may,

however, utilize a different date of

determination if warranted by the facts

and circumstances of a particular case. (2) Limitation on benefit reduction.

Except as provided in paragraph (a)(1)

of this section, the PBGC will reduce

benefits with respect to a participant or

beneficiary by no more than the greater

of—

(i) Ten percent per month; or

(ii) The amount of benefit per month

in excess of the maximum guaranteeable

benefit payable under section

4022(b)(3)(B) of ERISA, determined

without adjustment for age and benefit

form.

(3) PBGC notice to participant or

beneficiary. Before effecting a benefit

reduction pursuant to this paragraph,

the PBGC will notify the participant or

beneficiary in writing of the amount of

the net overpayment and of the amount

of the reduced benefit computed under

this section.

(4) Waiver of de minimis amounts.

The PBGC may, in its discretion, decide

not to recoup net overpayments that it

determines to be de minimis.

(5) Final installment. The PBGC will

cease recoupment one month early if the

amount remaining to be recouped in the

final month is less than the amount of

the monthly reduction. (b) Full repayment through

recoupment. Recoupment under this

section constitutes full repayment of the

net overpayment.

§ 4022.83. [Amended]

4. Section 4022.83 is amended by

removing the reference to § 4022.81(d)

and adding, in its place, a reference to

§ 4022.81(c).

PART 4041—TERMINATION OF

SINGLE-EMPLOYER PLANS

5. The authority citation for part 4041

continues to read as follows:

Authority: 29 U.S.C. 1302(b)(3), 1341,

1344, 1350.

§ 4041.42 [Amended]

6. Section 4041.42(d)(2) is amended

by removing the reference to

§ 4022.81(d) and adding, in its place, a

reference to § 4022.81(c)(3).

PART 4050—MISSING PARTICIPANTS

7. The authority citation for part 4050

continues to read as follows:

Authority: 29 U.S.C. 1302(b)(3), 1350.

§ 4050.2 [Amended]

8. The definition of ‘‘Designated

benefit interest rate’’ in Section 4050.2,

is amended by removing the reference to

§ 4022.81(d) and adding, in its place, a

reference to § 4022.81(c).

Issued in Washington, DC, this 27th day of

May, 1998.

Alexis M. Herman

Chairman, Board of Directors Pension Benefit

Guaranty Corporation.

Issued on the date set forth above pursuant

to a resolution of the Board of Directors

authorizing its Chairman to issue this final

rule.

James J. Keightley

Secretary, Board of Directors Pension Benefit

Guaranty Corporation.

[FR Doc. 98–14448 Filed 5–28–98; 8:45 am]

BILLING CODE 7708–01–P

DEPARTMENT OF COMMERCE

National Oceanic and Atmospheric

Administration

50 CFR Part 660

[Docket No. 980415098–5098–8098–01; I.D.

031998A]

Fisheries Off West Coast States and in

the Western Pacific; Western Pacific

Crustacean Fisheries; Vessel

Monitoring System; Harvest Guideline;

Closed Season; Correction

AGENCY: National Marine Fisheries

Service (NMFS), National Oceanic and

Atmospheric Administration (NOAA),

Commerce.

ACTION: Final rule; correction.

SUMMARY: This document corrects a rule

published in the Federal Register on

April 27, 1998. The regulations

implemented three management

measures governing the crustacean

fisheries in the exclusive economic zone

around Hawaii.

DATES: Effective May 27, 1998.

FOR FURTHER INFORMATION CONTACT:

Alvin Katekaru, NMFS, 808–973–2985.

SUPPLEMENTARY INFORMATION: In the

classification section of the final rule

published on April 27, 1998 (63 FR

20539),

NMFS inadvertently omitted a word

at the end of the third paragraph. Also,

when NMFS revised the definition for

Crustacean Permit Area I VMS Subarea

in § 660.12, NMFS inadvertently put a

comma at the end of the definition.

Correction of Publication

The publication on April 27, 1998 (63

FR 20539) [I.D. 031998A], FR Doc. 98–

11017, is corrected as follows:

On page 20540 in the second column,

in the third paragraph under

Classification, the word ‘‘not’’ should be

inserted before the word ‘‘applicable’’.

§ 660.12 [Corrected]

On page 20540, in § 660.12, in the

definition of ‘‘Crustaceans Permit Area

I VMS Subarea’’, in the third column, on

the last line, the comma at the end of

the definition should be removed and

replaced with a period.

Authority: 16 U.S.C. 1801 et seq.

Dated: May 22, 1998.

David L. Evans,

Deputy Assistant Administrator for Fisheries,

National Marine Fisheries Service.

[FR Doc. 98–14249 Filed 5–28–98; 8:45 am]

BILLING CODE 3510–22–F

DEPARTMENT OF COMMERCE

National Oceanic and Atmospheric

Administration

50 CFR Part 678

[I.D. 051998A]

Atlantic Shark Fisheries; Quota

Adjustment

AGENCY: National Marine Fisheries

Service (NMFS), National Oceanic and

Atmospheric Administration (NOAA),

Commerce.

ACTION: Quota adjustment.

SUMMARY: NMFS announces that the

landings of large coastal sharks in the

Atlantic Ocean, Gulf of Mexico, and

Caribbean Sea totaled 684.8 metric tons

(mt) during the first semiannual 1998

season. Because this constitutes an

overharvest of 42 mt, the second

semiannual 1998 quota is reduced

accordingly.

DATES: Effective May 29, 1998.

FOR FURTHER INFORMATION CONTACT:

Margo Schulze or Karyl Brewster-Geisz

at 301–713–2347; or Buck Sutter at 813–

570–5324.

SUPPLEMENTARY INFORMATION: The

Atlantic Ocean, Gulf of Mexico, and

Caribbean Sea shark fisheries are

managed by NMFS according to the

Fishery Management Plan (FMP) for

Atlantic Sharks prepared by NMFS

under authority of the MagnusonStevens Fishery Conservation and

Management Act (16 U.S.C. 1801 et

seq.). Fishing by U.S. vessels is

governed by regulations implementing

the FMP at 50 CFR part 678.

Section 678.24(b) of the regulations

provides for two semi-annual quotas of

642 mt of large coastal sharks to be

harvested from the Atlantic Ocean, Gulf

of Mexico, and Caribbean Sea waters by
29356 Federal Register / Vol. 63, No. 103 / Friday, May 29, 1998 /Rules and Regulations

commercial fishermen. The first

semiannual quota was available for

harvest from January 1 through June 30,

1998.

The Assistant Administrator for

Fisheries, NOAA, is authorized under

§ 678.24(c) to adjust the semiannual

quota to reflect actual catches during the

preceding semiannual period. Harvest

data submitted to NMFS indicate that

the landings of large coastal sharks from

January through March 31, 1998, totaled

684.8 mt, which is 42.8 mt more than

the established quota. Therefore, the

adjusted quota for large coastal sharks

for the second 1998 semiannual period

is decreased from 642 mt to 600 mt. The

adjusted quota of 600 mt is available for

the period July 1 through December 31,

1998.

Classification

This rule is exempt from review

under E.O. 12866.

Dated: May 22, 1998.

Bruce C. Morehead,

Acting Director, Office of Sustainable

Fisheries, National Marine Fisheries Service.

[FR Doc. 98–14248 Filed 5–28–98; 8:45 am]

BILLING CODE 3510–22–F