62682 Federal Register / Vol. 79, No. 202 / Monday, October 20, 2014 / Notices 

1http://www.pbgc.gov/documents/PRCcomments-on-PBGC-termination-of-singleemployer-plans.pdf. 

including the validity of the 

methodologies 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 14th day of 

October 2014. 

Judith Starr, 

General Counsel, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2014–24925 Filed 10–17–14; 8:45 am] 

BILLING CODE 7709–02–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Submission of Information Collection 

for OMB Review; Comment Request; 

Termination of Single-Employer Plans, 

Missing Participants 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of request for extension 

of OMB approval, with modifications. 

SUMMARY: PBGC is requesting that OMB 

extend approval (with modifications) 

under the Paperwork Reduction Act of 

a collection of information in PBGC’s 

regulations on Termination of Single 

Employer Plans and Missing 

Participants, and implementing forms 

and instructions (OMB control number 

1212–0036: Expires February 28, 2017). 

This notice informs the public of 

PBGC’s request and solicits public 

comment on the collection of 

information. 

DATES: Comments should be submitted 

by November 19, 2014. 

ADDRESSES: Comments should be sent to 

the Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Attention: Desk Officer for 

Pension Benefit Guaranty Corporation, 

via electronic mail at OIRA_DOCKET@

omb.eop.gov or by fax to (202) 395– 

6974. 

A copy of the request (including the 

collection of information) is posted at 

http://www.pbgc.gov/res/lawsandregulations/informationcollectionsunder-omb-review.html. It 

may also be obtained without charge by 

writing to the Disclosure Division of the 

Office of the General Counsel of PBGC 

at the above address, visiting the 

Disclosure Division, faxing a request to 

202–326–4042, or calling 202–326–4040 

during normal business hours. (TTY and 

TDD users may call the Federal relay 

service toll-free at 1–800–877–8339 and 

ask to be connected to 202–326–4040.) 

The Disclosure Division will email, fax, 

or mail the request to you, as you 

request. 

FOR FURTHER INFORMATION CONTACT: Jo 

Amato Burns, Attorney (326–4400, ext. 

3072) or Catherine B. Klion, Assistant 

General Counsel (326–4400, ext. 3041), 

Office of the General Counsel, Pension 

Benefit Guaranty Corporation, 1200 K 

Street NW., Washington, DC 20005, 

202–326–4400 (TTY and TDD users may 

call the Federal relay service toll-free at 

1–800–877–8339 and ask to be 

connected to 202–326–4400.) 

SUPPLEMENTARY INFORMATION: Under 

section 4041 of the Employee 

Retirement Income Security Act of 1974, 

as amended (ERISA), a single-employer 

pension plan may terminate voluntarily 

only if it satisfies the requirements for 

either a standard or a distress 

termination. Pursuant to ERISA section 

4041(b), for standard terminations, and 

section 4041(c), for distress 

terminations, and PBGC’s termination 

regulation (29 CFR part 4041), a plan 

administrator wishing to terminate a 

plan is required to submit specified 

information to PBGC in support of the 

proposed termination and to provide 

specified information regarding the 

proposed termination to third parties 

(participants, beneficiaries, alternate 

payees, and employee organizations). In 

the case of a plan with participants or 

beneficiaries who cannot be located 

when their benefits are to be distributed, 

the plan administrator is subject to the 

requirements of ERISA section 4050 and 

PBGC’s missing participants regulation 

(29 CFR part 4050). These regulations 

may be found on PBGC’s Web site at 

http://www.pbgc.gov/res/laws-andregulations/code-of-federalregulations.html. 

The collection of information under 

these regulations and the implementing 

forms and instructions has been 

approved by OMB under control 

number 1212–0036 (expires February 

28, 2017). PBGC is requesting that OMB 

extend its approval for three years, with 

modifications. An agency may not 

conduct or sponsor, and a person is not 

required to respond to, a collection of 

information unless it displays a current 

OMB control number. 

PBGC is proposing to require that a 

plan administrator of a plan terminating 

in a standard termination (or a distress 

termination that closes out in the 

private sector) must submit with the 

post-distribution certification the 

following information: 

• The most recent plan document. 

• Proof of benefit distributions for 

lump sums paid and annuities 

purchased, including an accurate list of 

annuity providers, with the group 

contract numbers and contact 

information for each annuity provider, 

and a list of participants entitled to an 

annuity from each annuity provider. 

These new information requirements 

will help PBGC address inquiries from 

individuals who claim they are owed 

benefits from terminated plans and, 

where appropriate, pay benefits to 

individuals entitled to them or to direct 

them to insurers that are holding 

annuities for them. 

PBGC received one comment on its 

proposal, from the Pension Rights 

Center.1 PBGC’s response to PRC’s 

comment is included in the OMB 

submission. 

PBGC estimates that 1,430 plan 

administrators will be subject to the 

collection of information requirements 

in PBGC’s regulations on termination 

and missing participants and 

implementing forms and instructions 

each year, and that the total annual 

burden of complying with these 

requirements is about 1,700 hours and 

$1,721,000. 

Issued in Washington, DC, this 10th day of 

October 2014. 

Judith Starr, 

General Counsel, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2014–24819 Filed 10–17–14; 8:45 am] 

BILLING CODE 7708–01–P 

POSTAL REGULATORY COMMISSION 

[Docket Nos. CP2015–2; Order No. 2214] 

New Postal Product 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is noticing a 

recent Postal Service filing concerning 

the addition of Global Expedited 

Package Services 3 negotiated service 

agreement. This notice informs the 

public of the filing, invites public 

comment, and takes other 

administrative steps. 

DATES: Comments are due: October 21, 

2014. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http://


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 202 / Monday, October 20, 2014 / Notices 62683 

1Notice of United States Postal Service of Filing 

a Functionally Equivalent Global Expedited 

Package Services 3 Negotiated Service Agreement 

and Application for Non-Public Treatment of 

Materials Filed Under Seal, October 10, 2014 

(Notice). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3Order Approving Proposed Rule Change Related 

to ICC’s Authority to Use Guaranty Fund and House 

Initial Margin as an Internal Liquidity Resource, 

Securities Exchange Act Release No. 34–72944 

(Aug. 28, 2014), 79 FR 52789 (Sept. 4, 2014) 

(SR–ICC–2014–08). 

4 15 U.S.C. 78q–1(b)(3)(F). 

www.prc.gov. Those who cannot submit 

comments electronically should contact 

the person identified in the FOR FURTHER

INFORMATION CONTACT section by 

telephone for advice on filing 

alternatives. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Introduction 

II. Notice of Commission Action 

III. Ordering Paragraphs 

I. Introduction 

On October 10, 2014, the Postal 

Service filed notice that it has entered 

into an additional Global Expedited 

Package Services 3 (GEPS 3) negotiated 

service agreement (Agreement).1

To support its Notice, the Postal 

Service filed a copy of the Agreement, 

a copy of the Governors’ Decision 

authorizing the product, a certification 

of compliance with 39 U.S.C. 3633(a), 

and an application for non-public 

treatment of certain materials. It also 

filed supporting financial workpapers. 

II. Notice of Commission Action 

The Commission establishes Docket 

No. CP2015–2 for consideration of 

matters raised by the Notice. 

The Commission invites comments on 

whether the Postal Service’s filing is 

consistent with 39 U.S.C. 3632, 3633, or 

3642, 39 CFR part 3015, and 39 CFR 

part 3020, subpart B. Comments are due 

no later than October 21, 2014. The 

public portions of the filing can be 

accessed via the Commission’s Web site 

(http://www.prc.gov). 

The Commission appoints Curtis E. 

Kidd to serve as Public Representative 

in this docket. 

III. Ordering Paragraphs 

It is ordered: 

1. The Commission establishes Docket 

No. CP2015–2 for consideration of the 

matters raised by the Postal Service’s 

Notice. 

2. Pursuant to 39 U.S.C. 505, Curtis E. 

Kidd is appointed to serve as an officer 

of the Commission to represent the 

interests of the general public in this 

proceeding (Public Representative). 

3. Comments are due no later than 

October 21, 2014. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Shoshana M. Grove, 

Secretary. 

[FR Doc. 2014–24764 Filed 10–17–14; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73347; File No. SR–ICC– 

2014–16] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Notice of Filing of 

Proposed Rule Change Related to 

ICC’s Use of House Initial Margin as an 

Internal Liquidity Resource 

October 14, 2014. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on October 

1, 2014, ICE Clear Credit LLC (‘‘ICC’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared primarily by ICC. 

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 principal purpose of the 

proposed rule change is to amend ICC 

Clearing Rule 402(j) (‘‘Rule 402(j)’’) in 

order to provide further clarity 

regarding ICC’s intention to return any 

Clearing Participant’s House Initial 

Margin used as an internal liquidity 

resource. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, ICC 

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. ICC has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of these statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

On August 28, 2014, the Securities 

Exchange Commission (the 

‘‘Commission’’) issued an order 

approving ICC’s rule filing consisting of 

proposed amendments related to ICC’s 

authority to use Guaranty Fund and 

House Initial Margin as an internal 

liquidity resource (ICC–2014–08).3 ICC 

proposes changes to Rule 402(j) to 

provide further clarity regarding ICC’s 

intention to return any Clearing 

Participant House Initial Margin used as 

an internal liquidity resource. 

Under Rule 402(j), ICC may, in 

connection with a Clearing Participant 

default, (i) exchange House Initial 

Margin held in the form of cash for 

securities of equivalent value and/or (ii) 

exchange House Initial Margin held in 

the form of cash in one currency for 

cash of equivalent value in a different 

currency. ICC proposes adding language 

to clarify that ICC will engage in 

liquidity exchanges pursuant to Rule 

402(j) on a temporary basis. Further, ICC 

proposes amending Rule 402(j) to state 

that ICC will reverse any such exchange 

involving a Clearing Participant’s Initial 

Margin in its House Account as soon as 

practicable following the conclusion of 

the event requiring the exchange of a 

Clearing Participant’s Initial Margin for 

liquidity purposes (i.e., as quickly as 

possible following the conclusion of the 

liquidity event). It is likely that the 

duration of the liquidity event will be 

significantly shorter than the amount of 

time necessary to complete the default 

management process for the event 

which gave rise to the liquidity need. 

ICC also proposes amending Rule 402(j) 

to delete general references to ICC’s 

liquidity policies and procedures and 

instead used the defined term ‘‘ICE 

Clear Credit Procedures’’ found 

throughout the ICC Rules. 

Section 17A(b)(3)(F) of the Act 4

requires, among other things, that the 

rules of a clearing agency be designed to 

promote the prompt and accurate 

clearance and settlement of securities 

transactions, and to the extent 

applicable, derivative agreements, 

contracts and transactions and to 

comply with the provisions of the Act 

and the rules and regulations 

thereunder. ICC believes that the 


tkelley on DSK3SPTVN1PROD with NOTICES