51274 Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Rules and Regulations 

Single-Employer Plans to prescribe 

interest assumptions under the asset 

allocation regulation for plans with 

valuation dates in the fourth quarter of 

2021. These interest assumptions are 

used for valuing benefits under 

terminating single-employer plans and 

for other purposes. 

DATES: Effective October 1, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Hilary Duke (duke.hilary@pbgc.gov), 

Assistant General Counsel for 

Regulatory Affairs, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW, Washington, DC 20005, 202–229– 

3839. (TTY users may call the Federal 

relay service toll free at 1–800–877– 

8339 and ask to be connected to 202– 

229–3839.) 

SUPPLEMENTARY INFORMATION: PBGC’s 

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044) prescribes actuarial 

assumptions—including interest 

assumptions—for valuing benefits under 

terminating single-employer plans 

covered by title IV of the Employee 

Retirement Income Security Act of 1974 

(ERISA). The interest assumptions in 

the regulation are also published on 

PBGC’s website (https://www.pbgc.gov). 

PBGC uses the interest assumptions in 

appendix B to part 4044 (‘‘Interest Rates 

Used to Value Benefits’’) to determine 

the present value of annuities in an 

involuntary or distress termination of a 

single-employer plan under the asset 

allocation regulation. The assumptions 

are also used to determine the value of 

multiemployer plan benefits and certain 

assets when a plan terminates by mass 

withdrawal in accordance with PBGC’s 

regulation on Duties of Plan Sponsor 

Following Mass Withdrawal (29 CFR 

part 4281). 

The fourth quarter 2021 interest 

assumptions will be 2.40 percent for the 

first 20 years following the valuation 

date and 2.11 percent thereafter. In 

comparison with the interest 

assumptions in effect for the third 

quarter of 2021, these interest 

assumptions represent a decrease of 5 

years in the select period (the period 

during which the select rate (the initial 

rate) applies), an increase of 0.27 

percent in the select rate, and a decrease 

of 0.12 percent in the ultimate rate (the 

final rate). 

Need for Immediate Guidance 

PBGC has determined that notice of, 

and public comment on, this rule are 

impracticable, unnecessary, and 

contrary to the public interest. PBGC 

routinely updates the interest 

assumptions in appendix B of the asset 

allocation regulation each quarter so 

that they are available to value benefits. 

Accordingly, PBGC finds that the public 

interest is best served by issuing this 

rule expeditiously, without an 

opportunity for notice and comment, 

and that good cause exists for making 

the assumptions set forth in this 

amendment effective less than 30 days 

after publication to allow the use of the 

proper assumptions to estimate the 

value of plan benefits for plans with 

valuation dates early in the fourth 

quarter of 2021. 

PBGC has determined that this action 

is not a ‘‘significant regulatory action’’ 

under the criteria set forth in Executive 

Order 12866. 

Because no general notice of proposed 

rulemaking is required for this 

amendment, the Regulatory Flexibility 

Act of 1980 does not apply. See 5 U.S.C. 

601(2). 

List of Subjects 

29 CFR Part 4044 

Employee benefit plans, Pension 

insurance, Pensions. 

In consideration of the foregoing, 29 

CFR part 4044 is amended as follows: 

PART 4044—ALLOCATION OF 

ASSETS IN SINGLE-EMPLOYER 

PLANS 

■ 1. The authority citation for part 4044 

continues to read as follows: 

Authority: 29 U.S.C. 1301(a), 1302(b)(3), 

1341, 1344, 1362. 

■ 2. In appendix B to part 4044, add an 

entry for ‘‘October–December 2021’’ at 

the end of the table to read as follows: 

Appendix B to Part 4044—Interest 

Rates Used to Value Benefits 

* * * * * 

For valuation dates occurring in the month— 

The values of it are: 

it for t = it for t = it for t = 

*******

October–December 2021 ................................................. 0.0240 1–20 0.0211 >20 N/A N/A 

Issued in Washington, DC, by 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2021–19704 Filed 9–14–21; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

38 CFR Parts 8a and 36 

RIN 2900–AR09 

Nomenclature Change for Position 

Title 

AGENCY: Department of Veterans Affairs. 

ACTION: Final rule. 

SUMMARY: The Department of Veterans 

Affairs is amending its regulations to 

revise the title of the ‘‘Director, Loan 

Guaranty Service’’ to ‘‘Executive 

Director, Loan Guaranty Service’’ and to 

remove references to the position of 

‘‘Deputy Under Secretary for Economic 

Opportunity.’’ These amendments 

reflect current agency organizational 

structure and are necessary to ensure 

consistency between the agency and its 

regulations. 

DATES: This rule is effective September 

15, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Stephanie Li, Chief of Regulations, Loan 

Guaranty Service, (26A), Veterans 

Benefits Administration, Department of 

Veterans Affairs, 810 Vermont Avenue 

NW, Washington, DC 20420, (202) 632– 

8862. (This is not a toll-free telephone 

number.) 

SUPPLEMENTARY INFORMATION: A number 

of VA regulations reference the 

‘‘Director, Loan Guaranty Service’’, but 

the title for this position has been 

amended from ‘‘Director, Loan Guaranty 

Service’’ to ‘‘Executive Director, Loan 

Guaranty Service.’’ Also, certain VA 

regulations reference the ‘‘Deputy Under 

Secretary for Economic Opportunity,’’ 

but that position has been eliminated 

within the Veterans Benefits 

Administration. To ensure accuracy and 

consistency between the agency and its 

regulations, this final rule revises VA 

regulations to reflect this nomenclature 

change and organizational structure. 

Additionally, VA notes that there is a 

technical drafting error at 


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Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Rules and Regulations 51275 

§ 36.4345(b)(1) in which paragraph level 

(iv) is used twice. This final rule 

corrects that error. 

Administrative Procedure Act 

This final rule concerns only agency 

organization, procedure, or practice and, 

therefore, is not subject to the notice 

and comment provisions of 5 U.S.C. 

553(b). See 38 U.S.C. 553(b)(A). 

Specifically, this final rule consists of 

amendments reflecting agency 

organization, revising the title of one 

position and removing the reference to 

another eliminated position. VA has 

also determined that there is good cause 

to make this final rule effective on the 

date of publication under 5 U.S.C. 

553(d)(3). As the agency has already 

adapted to the above noted 

organizational amendments, delaying 

the effective date is unnecessary. 

Executive Orders 12866 and 13563 

Executive Orders 12866 and 13563 

direct agencies to assess the costs and 

benefits of available regulatory 

alternatives and, when regulation is 

necessary, to select regulatory 

approaches that maximize net benefits 

(including potential economic, 

environmental, public health and safety 

effects, and other advantages; 

distributive impacts; and equity). 

Executive Order 13563 (Improving 

Regulation and Regulatory Review) 

emphasizes the importance of 

quantifying both costs and benefits, 

reducing costs, harmonizing rules, and 

promoting flexibility. The Office of 

Information and Regulatory Affairs has 

determined that this rule is not a 

significant regulatory action under 

Executive Order 12866. The Regulatory 

Impact Analysis associated with this 

rulemaking can be found as a 

supporting document at 

www.regulations.gov. 

Regulatory Flexibility Act 

The Regulatory Flexibility Act, 5 

U.S.C. 601 et seq. (RFA), imposes 

certain requirements on Federal agency 

rules that are subject to the notice and 

comment requirements of the 

Administrative Procedure Act (APA), 5 

U.S.C. 553(b). This final rule pertains to 

agency organization, which the APA 

expressly exempts from notice and 

comment rulemaking requirements 

under 5 U.S.C. 553(b)(A). Therefore, the 

requirements of the RFA applicable to 

notice and comment rulemaking do not 

apply to this rule. Accordingly, the 

Department is not required either to 

certify that the final rule would not have 

a significant economic impact on a 

substantial number of small entities or 

to conduct a regulatory flexibility 

analysis. 

Unfunded Mandates 

The Unfunded Mandates Reform Act 

of 1995 requires, at 2 U.S.C. 1532, that 

agencies prepare an assessment of 

anticipated costs and benefits before 

issuing any rule that may result in the 

expenditure by State, local, and tribal 

governments, in the aggregate, or by the 

private sector, of $100 million or more 

(adjusted annually for inflation) in any 

one year. This final rule will have no 

such effect on State, local, and tribal 

governments, or on the private sector. 

Paperwork Reduction Act 

This final rule contains no provisions 

constituting a collection of information 

under the Paperwork Reduction Act of 

1995 (44 U.S.C. 3501–3521). 

Catalog of Federal Domestic Assistance 

The Catalog of Federal Domestic 

Assistance numbers and titles for the 

programs affected by this document are 

64.106, Specially Adapted Housing For 

Disabled Veterans; 64.114, Veterans 

Housing Guaranteed and Insured Loans; 

64.118, Veterans Housing Direct Loans 

for Certain Disabled Veterans; and 

64.126, Native American Veteran Direct 

Loan Program. 

Congressional Review Act 

Pursuant to Subtitle E of the Small 

Business Regulatory Enforcement 

Fairness Act of 1996 (known as the 

Congressional Review Act) (5 U.S.C. 801 

et seq.), the Office of Information and 

Regulatory Affairs designated this rule 

as not a major rule, as defined by 5 

U.S.C. 804(2). 

List of Subjects 

38 CFR Part 8a 

Life insurance, Mortgage insurance, 

Veterans. 

38 CFR Part 36 

Condominiums, Housing, Individuals 

with disabilities, Loan programs— 

housing and community development, 

Loan programs—Indians, Loan 

programs—veterans, Manufactured 

homes, Mortgage insurance, Veterans. 

Signing Authority 

Denis McDonough, Secretary of 

Veterans Affairs, approved this 

document on September 2, 2021, and 

authorized the undersigned to sign and 

submit the document to the Office of the 

Federal Register for publication 

electronically as an official document of 

the Department of Veterans Affairs. 

Luvenia Potts, 

Regulation Development Coordinator, Office 

of Regulation Policy & Management, Office 

of General Counsel, Department of Veterans 

Affairs. 

For the reasons stated in the 

preamble, the Department of Veterans 

Affairs amends 38 CFR parts 8a and 36 

as set forth below: 

PART 8A—VETERANS MORTGAGE 

LIFE INSURANCE 

■ 1. The authority citation for part 8a 

continues to read as follows: 

Authority: 38 U.S.C. 501, and 2101 

through 2016, unless otherwise noted. 

§ 8a.1 [Amended] 

■ 2. In § 8a.1 amend paragraph (e)(3) by 

removing the words ‘‘Director, Loan 

Guaranty Service’’ and adding, in their 

place, the words ‘‘Executive Director, 

Loan Guaranty Service’’. 

PART 36—LOAN GUARANTY 

■ 3. The authority citation for part 36 

continues to read as follows: 

Authority: 38 U.S.C. 501 and 3720. 

PART 36 [Amended] 

■ 4. Amend part 36 by removing the 

words ‘‘Director, Loan Guaranty 

Service’’ wherever they appear, and 

adding, in their place, the words 

‘‘Executive Director, Loan Guaranty 

Service’’. 

§ 36.4221 [Amended] 

■ 5. In § 36.4221 amend paragraph (d) 

by removing the word ‘‘Director’’ and 

adding, in its place, the words ‘‘Director 

or Executive Director’’. 

§ 36.4345 [Amended] 

■ 6. Amend § 36.4345 by: 

■ a. Removing paragraph (b)(1)(iii); 

■ b. Redesignating the first paragraph 

(b)(1)(iv) as paragraph (b)(1)(iii); 

■ c. Removing the word ‘‘Director’’ in 

paragraph (d), and adding, in its place, 

the words ‘‘Director or Executive 

Director’’; and 

■ d. In paragraphs (e)(3) and (f)(3) 

removing the words ‘‘Office of the 

Director of VA Loan Guaranty Service’’ 

and adding, in their place, the words 

‘‘Office of the Executive Director, Loan 

Guaranty Service’’. 

§ 36.4412 [Amended] 

■ 7. Amend § 36.4412 by: 

■ a. Removing paragraph (i)(1)(ii); and 


khammond on DSKJM1Z7X2PROD with RULES
51276 Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Rules and Regulations 

■ b. Redesignating paragraphs (i)(1)(iii) 

and (iv) as paragraphs (i)(1)(ii) and (iii), 

respectively. 

§ 36.4520 [Amended] 

■ 8. In § 36.4520 by amend paragraph 

(d), removing the word ‘‘Director’’ and 

adding, in its place, the words ‘‘Director 

or Executive Director’’. 

§ 36.4527 [Amended] 

■ 9. In § 36.4527 amend paragraph (j)(4) 

by removing the word ‘‘Director’’ and 

adding, in its place, the words ‘‘Director 

or Executive Director’’. 

[FR Doc. 2021–19793 Filed 9–14–21; 8:45 am] 

BILLING CODE 8320–01–P 

DEPARTMENT OF COMMERCE 

National Oceanic and Atmospheric 

Administration 

50 CFR Part 622 

[Docket No. 100217095–2081–04; RTID 

0648–XB410] 

Reef Fish Fishery of the Gulf of 

Mexico; 2021 Recreational 

Accountability Measure and Closure 

for Gulf of Mexico Red Grouper 

AGENCY: National Marine Fisheries 

Service (NMFS), National Oceanic and 

Atmospheric Administration (NOAA), 

Commerce. 

ACTION: Temporary rule; closure. 

SUMMARY: NMFS implements an 

accountability measure (AM) for the red 

grouper recreational sector in the 

exclusive economic zone (EEZ) of the 

Gulf of Mexico (Gulf) for the 2021 

fishing year through this temporary rule. 

NMFS has projected that the 2021 

recreational annual catch limit (ACL) for 

Gulf red grouper has been met. 

Therefore, NMFS closes the recreational 

sector for Gulf red grouper on 

September 15, 2021, and it will remain 

closed through the end of the fishing 

year on December 31, 2021. This closure 

is necessary to protect the Gulf red 

grouper resource. 

DATES: This temporary rule is effective 

from 12:01 a.m., local time, on 

September 15, 2021, until 12:01 a.m., 

local time, on January 1, 2022. 

FOR FURTHER INFORMATION CONTACT: Dan 

Luers, NMFS Southeast Regional Office, 

telephone: 727–551–5719, email: 

daniel.luers@noaa.gov. 

SUPPLEMENTARY INFORMATION: NMFS 

manages the Gulf reef fish fishery, 

which includes red grouper, under the 

Fishery Management Plan for the Reef 

Fish Resources of the Gulf of Mexico 

(FMP). The FMP was prepared by the 

Gulf of Mexico Fishery Management 

Council and is implemented by NMFS 

under the authority of the MagnusonStevens Fishery Conservation and 

Management Act (Magnuson-Stevens 

Act) through regulations at 50 CFR part 

622. All red grouper weights discussed 

in this temporary rule are in gutted 

weight. 

The recreational ACL for Gulf red 

grouper is 1,000,000 lb (450,000 kg), and 

the recreational annual catch target 

(ACT) is 920,000 lb (420,000 kg) (50 

CFR 622.41(e)(2)(iv)). 

As specified in 50 CFR 622.41(e)(2)(i), 

NMFS is required to close the 

recreational sector for red grouper when 

the recreational ACL is reached or is 

projected to be reached by filing a 

notification to that effect with the Office 

of the Federal Register. Based on 

information received on September 1, 

2021, NMFS has determined the 2021 

recreational ACL for Gulf red grouper 

was met as of June 30, 2021. 

Accordingly, this temporary rule closes 

the recreational sector for Gulf red 

grouper effective at 12:01 a.m., local 

time, on September 15, 2021, and it will 

remain closed through the end of the 

fishing year on December 31, 2021. 

During the recreational closure, the 

bag and possession limits for red 

grouper in or from the Gulf EEZ are 

zero. The prohibition on possession of 

Gulf red grouper also applies in Gulf 

state waters for any vessel issued a valid 

Federal charter vessel/headboat permit 

for Gulf reef fish. 

Because the 2021 recreational ACL for 

Gulf red grouper has been exceeded, 

NMFS will file a notice with the Office 

of the Federal Register to reduce the 

length of the 2022 Gulf recreational red 

grouper fishing season by the amount 

necessary to ensure Gulf red grouper 

recreational landings in 2022 do not 

exceed the recreational ACT (50 CFR 

622.41(e)(2)(ii). 

Classification 

NMFS issues this action pursuant to 

section 305(d) of the Magnuson-Stevens 

Act. This action is required by 50 CFR 

622.41(e)(2)(i), which was issued 

pursuant to section 304(b) of the 

Magnuson-Stevens Act, and is exempt 

from review under Executive Order 

12866. 

Pursuant to 5 U.S.C. 553(b)(B), there 

is good cause to waive prior notice and 

an opportunity for public comment on 

this action, as notice and comment is 

unnecessary and contrary to the public 

interest. Such procedures are 

unnecessary because the regulations 

associated with the closure of the red 

grouper recreational sector at 50 CFR 

622.41(e)(2)(i) have already been subject 

to notice and public comment, and all 

that remains is to notify the public of 

the closure. Prior notice and 

opportunity for public comment are 

contrary to the public interest because 

there is a need to immediately 

implement this action to protect the red 

grouper stock. The recreational ACL for 

red grouper has already been exceeded. 

Prior notice and opportunity for public 

comment would require time and could 

result in a harvest well in excess of the 

established ACL. 

For the aforementioned reasons, the 

Assistant Administrator also finds good 

cause to waive the 30-day delay in the 

effectiveness of this action under 5 

U.S.C. 553(d)(3). 

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

Dated: September 9, 2021. 

Jennifer M. Wallace, 

Acting Director, Office of Sustainable 

Fisheries, National Marine Fisheries Service. 

[FR Doc. 2021–19825 Filed 9–10–21; 4:15 pm] 

BILLING CODE 3510–22–P 

DEPARTMENT OF COMMERCE 

National Oceanic and Atmospheric 

Administration 

50 CFR Part 622 

[Docket No. 121004518–3398–01; RTID 

0648–XB415] 

Reef Fish Fishery of the Gulf of 

Mexico; 2021 Recreational 

Accountability Measure and Closure 

for Gulf of Mexico Gray Triggerfish 

AGENCY: National Marine Fisheries 

Service (NMFS), National Oceanic and 

Atmospheric Administration (NOAA), 

Commerce. 

ACTION: Temporary rule; closure. 

SUMMARY: NMFS implements an 

accountability measure (AM) for the 

gray triggerfish recreational sector in the 

exclusive economic zone (EEZ) of the 

Gulf of Mexico (Gulf) for the 2021 

fishing year through this temporary rule. 

NMFS has projected that the 2021 

recreational annual catch target (ACT) 

for Gulf gray triggerfish will be reached 

by September 10, 2021. However, 

because there is uncertainty in the 

projection and to provide additional 

notice to fishery participants, NMFS 

closes the recreational sector for Gulf 

gray triggerfish on September 15, 2021, 

and it will remain closed through the 

end of the fishing year on December 31, 

2021. This closure is necessary to 

protect the Gulf gray triggerfish 

resource. 


khammond on DSKJM1Z7X2PROD with RULES