Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits

• Citation: 84 FR 55055
• Record Number: 2019-22381
• Published date: 15 October 2019
• Section: Rules and Regulations
• Court: Pension Benefit Guaranty Corporation

55055

Federal Register / Vol. 84, No. 199 / Tuesday, October 15, 2019 / Rules and Regulations

(3) Observer present. Conduct halibut

deck sorting only when an observer is

present in the deck sampling station.

(4) Time limit. Conduct halibut deck

sorting only within the time limit

indicated on the Observer Sampling

Station Inspection Report. The time

limit begins when the codend is opened

on deck. When the time limit is reached,

all halibut deck sorting must stop.

(5) Single sorting pathway. Convey all

halibut sorted on deck to the observer

deck sampling station via a single

pathway.

(6) Careful handling. Handle all

halibut sorted on deck with a minimum

of injury.

(7) Sorting pace. Do not pressure or

rush the observer to move halibut

through the sampling process faster than

the observer can handle.

(8) Visual signal. Use a visual signal

to indicate to vessel crew when catch

may not to be weighed on a NMFS-

approved scale specified in paragraph

(b)(1) of this section. The visual signal

must be on the conveyor belt adjacent

to the flow scale and visible in the view

of a camera required at § 679.28(b)(8).

§ 679.121 [Reserved]

[FR Doc. 2019–22198 Filed 10–11–19; 8:45 am]

BILLING CODE 3510–22–P

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Parts 200 and 240

[Release No. 34–86175A; File No. S7–08–

12]

RIN 3235–AL12

Capital, Margin, and Segregation

Requirements for Security-Based

Swap Dealers and Major Security-

Based Swap Participants and Capital

and Segregation Requirements for

Broker-Dealers; Correction

AGENCY

: Securities and Exchange

Commission.

ACTION

: Final rule; correction.

SUMMARY

: The Commission is correcting

a final rule that appeared in the Federal

Register on August 22, 2019. In the

document, the Commission adopted

capital and margin requirements for

security-based swap dealers (‘‘SBSDs’’)

and major security-based swap

participants (‘‘MSBSPs’’), segregation

requirements for SBSDs, and

notification requirements with respect

to segregation for SBSDs and MSBSPs in

accordance with the Dodd-Frank Wall

Street Reform and Consumer Protection

Act.

DATES

: Effective October 21, 2019.

FOR FURTHER INFORMATION CONTACT

:

Sheila Dombal Swartz, Senior Special

Counsel, at (202) 551–5545; Division of

Trading and Markets, Securities and

Exchange Commission, 100 F Street NE,

Washington, DC 20549–7010.

SUPPLEMENTARY INFORMATION

: In FR Doc.

19–13609 appearing on page 43872 in

the Federal Register of Thursday,

August 22, 2019, the following

corrections are made:

§ 200.30–3 [Corrected]

■1. On page 44041, in the first column,

in part 200, in amendment 2, the

instruction ‘‘Section 200.30–3 is

amended by revising paragraphs (a)(7)

introductory text, (a)(7)(i) and (iv),

(a)(7)(vi)(A) and (C) through (F),

(a)(7)(vii) and (a)(10)(i) to read as

follows:’’ is corrected to read ‘‘Section

200.30–3 is amended by revising

paragraphs (a)(7) introductory text,

(a)(7)(i) and (iv), (a)(7)(vi)(A) and (C)

through (E), adding paragraphs

(a)(7)(vi)(F) and (a)(7)(vii), and revising

paragraph (a)(10)(i) to read as follows:’’

Part 240 [Corrected]

■2. On page 44041, in the third column,

in part 240, in amendment 3, the

instruction ‘‘The general authority

citation for part 240 is revised, the

sectional authorities for §§ 240.15c3–1

and 240.15c3–3 are revised, adding

sectional authorities for §§ 240.15c3–1a,

240.15c3–1e, 240.15c3–3, 240.18a–1,

240.18a–1a, 240.18a–1b, 240.18a–1c,

240.18a–1d, 240–18a–2, 240.18a–3 and

240.18a–4 in numerical order to read as

follows.’’ is corrected to read ‘‘The

general authority citation for part 240 is

revised, the sectional authorities for

§§ 240.15c3–1 and 240.15c3–3 are

revised, and sectional authorities for

§§ 240.18a–1, 240.18a–1a, 240.18a–1b,

240.18a–1c, 240.18a–1d, 240–18a–2,

240.18a–3, and 240.18a–10 and

§ 240.18a–4 are added in numerical

order to read as follows:’’

Dated: October 4, 2019.

Vanessa A. Countryman,

Secretary.

[FR Doc. 2019–22053 Filed 10–11–19; 8:45 am]

BILLING CODE 8011–01–P

PENSION BENEFIT GUARANTY

CORPORATION

29 CFR Part 4022

Benefits Payable in Terminated Single-

Employer Plans; Interest Assumptions

for Paying Benefits

AGENCY

: Pension Benefit Guaranty

Corporation.

ACTION

: Final rule.

SUMMARY

: This final rule amends the

Pension Benefit Guaranty Corporation’s

regulation on Benefits Payable in

Terminated Single-Employer Plans to

prescribe certain interest assumptions

under the regulation for plans with

valuation dates in November 2019.

These interest assumptions are used for

paying certain benefits under

terminating single-employer plans

covered by the pension insurance

system administered by PBGC.

DATES

: Effective November 1, 2019.

FOR FURTHER INFORMATION CONTACT

:

Gregory Katz (katz.gregory@pbgc.gov),

Attorney, Regulatory Affairs Division,

Pension Benefit Guaranty Corporation,

1200 K Street NW, Washington, DC

20005, 202–326–4400 ext. 3829. (TTY

users may call the Federal relay service

toll-free at 1–800–877–8339 and ask to

be connected to 202–326–4400, ext.

3829.)

SUPPLEMENTARY INFORMATION

: PBGC’s

regulation on Benefits Payable in

Terminated Single-Employer Plans (29

CFR part 4022) prescribes actuarial

assumptions—including interest

assumptions—for paying plan benefits

under terminated 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 4022 (‘‘Lump Sum

Interest Rates for PBGC Payments’’) to

determine whether a benefit is payable

as a lump sum and to determine the

amount to pay. Because some private-

sector pension plans use these interest

rates to determine lump sum amounts

payable to plan participants (if the

resulting lump sum is larger than the

amount required under section 417(e)(3)

of the Internal Revenue Code and

section 205(g)(3) of ERISA), these rates

are also provided in appendix C to part

4022 (‘‘Lump Sum Interest Rates for

Private-Sector Payments’’).

This final rule updates appendices B

and C of the benefits payment regulation

to provide the rates for November 2019

measurement dates.

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55056

Federal Register / Vol. 84, No. 199 / Tuesday, October 15, 2019 / Rules and Regulations

The November 2019 lump sum

interest assumptions will be 0.25

percent for the period during which a

benefit is (or is assumed to be) in pay

status and 4.00 percent during any years

preceding the benefit’s placement in pay

status. In comparison with the interest

assumptions in effect for October 2019,

these assumptions represent an increase

of 0.25 percent in the immediate rate

and are otherwise unchanged.

PBGC updates appendices B and C

each month. PBGC has determined that

notice and public comment on this

amendment are impracticable and

contrary to the public interest. This

finding is based on the need to issue

new interest assumptions promptly so

that they are available for plans that rely

on our publication of them each month

to calculate lump sum benefit amounts.

Because of the need to provide

immediate guidance for the payment of

benefits under plans with valuation

dates during November 2019, PBGC

finds that good cause exists for making

the assumptions set forth in this

amendment effective less than 30 days

after publication.

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 in 29 CFR Part 4022

Employee benefit plans, Pension

insurance, Pensions, Reporting and

recordkeeping requirements.

In consideration of the foregoing, 29

CFR part 4022 is amended as follows:

PART 4022—BENEFITS PAYABLE IN

TERMINATED SINGLE-EMPLOYER

PLANS

■1. The authority citation for part 4022

continues to read as follows:

Authority: 29 U.S.C. 1302, 1322, 1322b,

1341(c)(3)(D), and 1344.

■2. In appendix B to part 4022, rate set

313 is added at the end of the table to

read as follows:

Appendix B to Part 4022—Lump Sum

Interest Rates for PBGC Payments

* * * * *

Rate set

For plans with a valuation

date Immediate

annuity

rate

(percent)

Deferred annuities

(percent)

On or after Before i

1

i

2

i

3

n

1

n

2

313 11–1–19 12–1–19 0.25 4.00 4.00 4.00 7 8

■3. In appendix C to part 4022, rate set

313 is added at the end of the table to

read as follows:

Appendix C to Part 4022—Lump Sum

Interest Rates for Private-Sector

Payments

* * * * *

Rate set

For plans with a valuation

date Immediate

annuity

rate

(percent)

Deferred annuities

(percent)

On or after Before i

1

i

2

i

3

n

1

n

2

*******

313 11–1–19 12–1–19 0.25 4.00 4.00 4.00 7 8

Issued in Washington, DC.

Hilary Duke,

Assistant General Counsel for Regulatory

Affairs, Pension Benefit Guaranty

Corporation.

[FR Doc. 2019–22381 Filed 10–11–19; 8:45 am]

BILLING CODE 7709–02–P

DEPARTMENT OF DEFENSE

Office of the Secretary

32 CFR Part 78

[Docket ID: DOD–2019–OS–0012]

RIN 0790–AK19

Voluntary State Tax Withholding From

Retired Pay

AGENCY

: Office of the Under Secretary of

Defense (Comptroller), DoD.

ACTION

: Direct final rule.

SUMMARY

: This direct final rule removes

DoD’s regulation on the voluntary state

income tax withholding from the

monthly retired or retainer pay of any

member or former member of the

uniformed Services. That regulation is

unnecessary because it restates current

law; sets forth internal policy and

procedures; and conveys to the public

administrative and procedural

information that does not require

rulemaking. Accordingly, DoD will

remove this part and publish a

document in the Federal Register

informing the States and current and

former members of that administrative

information, such as where to submit

requests for income withholding.

DATES

: This rule is effective November

25, 2019 without further action, unless

adverse comment is received by

November 14, 2019. If adverse comment

is received, DoD will publish a timely

withdrawal of the rule in the Federal

Register.

ADDRESSES

: You may submit comments,

identified by docket number and/or RIN

number and title, by any of the

following methods:

•Federal Rulemaking Portal: http://

www.regulations.gov. Follow the

instructions for submitting comments.

•Mail: Department of Defense, Office

of the Chief Management Officer,

Directorate for Oversight and

Compliance, 4800 Mark Center Drive,

Suite 08D09, Attn: Mailbox 24,

Alexandria, VA 22350–1700.

Instructions: All submissions received

must include the agency name and

docket number or Regulatory

Information Number (RIN) for this

Federal Register document. The general

policy for comments and other

submissions from members of the public

is to make these submissions available

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