83_FR_46818 83 FR 46639 - Telemarketing Sales Rule Fees

83 FR 46639 - Telemarketing Sales Rule Fees

FEDERAL TRADE COMMISSION

Federal Register Volume 83, Issue 179 (September 14, 2018)

Page Range46639-46641
FR Document2018-20048

The Federal Trade Commission (the ``Commission'') is amending its Telemarketing Sales Rule (``TSR'') by updating the fees charged to entities accessing the National Do Not Call Registry (the ``Registry'') as required by the Do-Not-Call Registry Fee Extension Act of 2007.

Federal Register, Volume 83 Issue 179 (Friday, September 14, 2018)
[Federal Register Volume 83, Number 179 (Friday, September 14, 2018)]
[Rules and Regulations]
[Pages 46639-46641]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-20048]


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FEDERAL TRADE COMMISSION

RIN 3084-AA98

16 CFR Part 310


Telemarketing Sales Rule Fees

AGENCY: Federal Trade Commission.

ACTION: Final rule.

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[[Page 46640]]

SUMMARY: The Federal Trade Commission (the ``Commission'') is amending 
its Telemarketing Sales Rule (``TSR'') by updating the fees charged to 
entities accessing the National Do Not Call Registry (the ``Registry'') 
as required by the Do-Not-Call Registry Fee Extension Act of 2007.

DATES: This final rule (the revised fees) will become effective October 
1, 2018.

ADDRESSES: Copies of this document are available on the internet at the 
Commission's website: https://www.ftc.gov.

FOR FURTHER INFORMATION CONTACT: Ami Joy Dziekan, (202) 326-2648, 
Bureau of Consumer Protection, Federal Trade Commission, 600 
Pennsylvania Avenue NW, Room CC-9225, Washington, DC 20580.

SUPPLEMENTARY INFORMATION: To comply with the Do-Not-Call Registry Fee 
Extension Act of 2007 (Pub. L. 110-188, 122 Stat. 635) (``Act''), the 
Commission is amending the TSR by updating the fees entities are 
charged for accessing the Registry as follows: The revised rule 
increases the annual fee for access to the Registry for each area code 
of data from $62 to $63 per area code; and increases the maximum amount 
that will be charged to any single entity for accessing area codes of 
data from $17,021 to $17,406. Entities may add area codes during the 
second six months of their annual subscription; the fee for those 
additional area codes of data increases from $31 to $32.
    These increases are in accordance with the Act, which specifies 
that beginning after fiscal year 2009, the dollar amounts charged shall 
be increased by an amount equal to the amounts specified in the Act, 
multiplied by the percentage (if any) by which the average of the 
monthly consumer price index (for all urban consumers published by the 
Department of Labor) (``CPI'') for the most recently ended 12-month 
period ending on June 30 exceeds the CPI for the 12-month period ending 
June 30, 2008. The Act also states that any increase shall be rounded 
to the nearest dollar and that there shall be no increase in the dollar 
amounts if the change in the CPI since the last fee increase is less 
than one percent. For fiscal year 2009, the Act specified that the 
original annual fee for access to the Registry for each area code of 
data was $54 per area code, or $27 per area code of data during the 
second six months of an entity's annual subscription period, and that 
the maximum amount that would be charged to any single entity for 
accessing area codes of data would be $14,850.
    The determination whether a fee change is required and the amount 
of the fee change involves a two-step process. First, to determine 
whether a fee change is required, we measure the change in the CPI from 
the time of the previous increase in fees. There was an increase in the 
fees for fiscal year 2018. Accordingly, we calculated the change in the 
CPI since last year, and the increase was 2.25 percent. Because this 
change is over the one percent threshold, the fees will change for 
fiscal year 2019.
    Second, to determine how much the fees should increase this fiscal 
year, we use the calculation specified by the Act set forth above: The 
percentage change in the baseline CPI applied to the original fees for 
fiscal year 2009. The average value of the CPI for July 1, 2007 to June 
30, 2008 was 211.702; the average value for July 1, 2017 to June 30, 
2018 was 248.126, an increase of 17.21 percent. Applying the 17.21 
percent increase to the base amount from fiscal year 2009, leads to a 
$63 fee for access to a single area code of data for a full year for 
fiscal year 2019, an increase of $1 from last year. The actual amount 
is $63.29, but when rounded, pursuant to the Act, $63 is the 
appropriate fee. The fee for accessing an additional area code for a 
half year increases from $31 to $32 (rounded from $31.65). The maximum 
amount charged increases to $17,406 (rounded from $17,405.69).
    Administrative Procedure Act; Regulatory Flexibility Act; Paperwork 
Reduction Act. The revisions to the Fee Rule are technical in nature 
and merely incorporate statutory changes to the TSR. These statutory 
changes have been adopted without change or interpretation, making 
public comment unnecessary. Therefore, the Commission has determined 
that the notice and comment requirements of the Administrative 
Procedure Act do not apply. See 5 U.S.C. 553(b). For this reason, the 
requirements of the Regulatory Flexibility Act also do not apply. See 5 
U.S.C. 603, 604.
    Pursuant to the Paperwork Reduction Act, 44 U.S.C. 3501-3521, the 
Office of Management and Budget (``OMB'') approved the information 
collection requirements in the Amended TSR and assigned the following 
existing OMB Control Number: 3084-0169. The amendments outlined in this 
Final Rule pertain only to the fee provision (Sec.  310.8) of the 
Amended TSR and will not establish or alter any record keeping, 
reporting, or third-party disclosure requirements elsewhere in the 
Amended TSR.

List of Subjects in 16 CFR Part 310

    Advertising, Consumer protection, Reporting and recordkeeping 
requirements, Telephone, Trade practices.

    Accordingly, the Federal Trade Commission amends part 310 of title 
16 of the Code of Federal Regulations as follows:

PART 310--TELEMARKETING SALES RULE

0
1. The authority citation for part 310 continues to read as follows:


    Authority: 15 U.S.C. 6101-6108; 15 U.S.C. 6151-6155.


0
2. In Sec.  310.8, revise paragraphs (c) and (d) to read as follows:

Sec.  310.8   Fee for access to the National Do Not Call Registry.

* * * * *
    (c) The annual fee, which must be paid by any person prior to 
obtaining access to the National Do Not Call Registry, is $63 for each 
area code of data accessed, up to a maximum of $17,406; provided, 
however, that there shall be no charge to any person for accessing the 
first five area codes of data, and provided further, that there shall 
be no charge to any person engaging in or causing others to engage in 
outbound telephone calls to consumers and who is accessing area codes 
of data in the National Do Not Call Registry if the person is permitted 
to access, but is not required to access, the National Do Not Call 
Registry under this Rule, 47 CFR 64.1200, or any other Federal 
regulation or law. No person may participate in any arrangement to 
share the cost of accessing the National Do Not Call Registry, 
including any arrangement with any telemarketer or service provider to 
divide the costs to access the registry among various clients of that 
telemarketer or service provider.
    (d) Each person who pays, either directly or through another 
person, the annual fee set forth in paragraph (c) of this section, each 
person excepted under paragraph (c) from paying the annual fee, and 
each person excepted from paying an annual fee under Sec.  
310.4(b)(1)(iii)(B), will be provided a unique account number that will 
allow that person to access the registry data for the selected area 
codes at any time for the twelve month period beginning on the first 
day of the month in which the person paid the fee (``the annual 
period''). To obtain access to additional area codes of data during the 
first six months of the annual period, each person required to pay the 
fee under paragraph (c) of this section must first

[[Page 46641]]

pay $63 for each additional area code of data not initially selected. 
To obtain access to additional area codes of data during the second six 
months of the annual period, each person required to pay the fee under 
paragraph (c) of this section must first pay $32 for each additional 
area code of data not initially selected. The payment of the additional 
fee will permit the person to access the additional area codes of data 
for the remainder of the annual period.
* * * * *

    By direction of the Commission.
Donald S. Clark,
Secretary.
[FR Doc. 2018-20048 Filed 9-13-18; 8:45 am]
 BILLING CODE 6750-01-P



                                                              Federal Register / Vol. 83, No. 179 / Friday, September 14, 2018 / Rules and Regulations                                             46639

                                             requirements for their importation, may                 (Approved by the Office of Management and             23, 2018) for Doc. No. FAA–2018–0328,
                                             be found on the internet at https://                    Budget under control number 0579–0049)                amending Class D airspace, and Class E
                                             epermits.aphis.usda.gov/manual.                         §§ 319.56–13 through 319.56–83                        airspace extending upward from 700
                                               (2) Fruits and vegetables authorized                  [Removed]                                             feet or more above the surface at New
                                             importation prior to October 15, 2018.                                                                        Smyrna Beach Municipal Airport, New
                                             Fruits and vegetables that were                         ■ 15. Sections 319.56–13 through                      Smyrna Beach, FL. Subsequent to
                                             authorized importation under this                       319.56–83 are removed.                                publication, the FAA found that the
                                             subpart either directly by permit or by                   Done in Washington, DC, this 10th day of            symbols of the longitude coordinate for
                                             specific regulation as of October 15,                   September 2018.                                       Massey Ranch Airpark, listed in the
                                             2018 may continue to be imported into                   Greg Ibach,                                           description under Class E airspace
                                             the United States under the same                        Under Secretary for Marketing and Regulatory          extending upward from 700 feet or more
                                             requirements that applied before                        Programs.                                             above the surface, was printed
                                             October 15, 2018, except as provided in                 [FR Doc. 2018–19984 Filed 9–13–18; 8:45 am]           incorrectly. Also, a parenthesis was
                                             paragraph (c)(4) of this section.                       BILLING CODE 3410–34–P                                omitted from the geographic coordinates
                                               (3) Other fruits and vegetables. Fruits                                                                     of New Smyrna Beach Municipal
                                             and vegetables not already authorized                                                                         Airport. This action corrects these
                                             for importation as described in                                                                               errors.
                                                                                                     DEPARTMENT OF TRANSPORTATION
                                             paragraph (c)(2) of this section may be                                                                          Class D and E airspace designations
                                             authorized importation only after:                      Federal Aviation Administration                       are published in paragraphs 5000 and
                                               (i) APHIS has analyzed the pest risk                                                                        6005, respectively, of FAA Order
                                             posed by the importation of a fruit or                  14 CFR Part 71                                        7400.11B dated August 3, 2017, and
                                             vegetable from a specified foreign region                                                                     effective September 15, 2017, which is
                                             and has determined that the risk posed                  [Docket No. FAA–2018–0328; Airspace
                                                                                                     Docket No. 18–ASO–7]                                  incorporated by reference in 14 CFR
                                             by each quarantine pest associated with                                                                       part 71.1. The E airspace designations
                                             the fruit or vegetable can be reasonably                RIN 2120–AA66                                         listed in this document will be
                                             mitigated by the application of one or
                                                                                                                                                           published subsequently in the Order.
                                             more phytosanitary measures;                            Amendment of Class D Airspace and
                                               (ii) APHIS has made its pest risk                     Class E Airspace, and Revocation of                   Correction to Final Rule
                                             analysis and determination available for                Class E Airspace: New Smyrna Beach,                     Accordingly, pursuant to the
                                             public comment for at least 60 days                     FL                                                    authority delegated to me, in the
                                             through a notice published in the
                                                                                                     AGENCY:  Federal Aviation                             Federal Register of August 23, 2018 (83
                                             Federal Register; and
                                                                                                     Administration (FAA), DOT.                            FR 42585) FR Doc. 2018–18035,
                                               (iii) The Administrator has
                                                                                                     ACTION: Final rule, correction.                       Amendment of D Airspace and Class E
                                             announced his or her decision in a
                                                                                                                                                           Airspace, and Revocation of Class E
                                             subsequent Federal Register notice to
                                                                                                     SUMMARY:   This action corrects a final               Airspace; New Smyrna Beach, FL, is
                                             authorize the importation of the fruit or
                                                                                                     rule published in the Federal Register                corrected as follows:
                                             vegetable subject to the phytosanitary
                                                                                                     on August 23, 2018, amending Class D
                                             measures specified in the notice.                                                                             § 71.1   [Amended]
                                                                                                     airspace and Class E airspace extending
                                               (4) Changes to phytosanitary
                                                                                                     upward from 700 feet or more above the                ASO FL E5 New Smyrna Beach, FL
                                             measures. (i) If the Administrator
                                                                                                     surface at New Smyrna Beach                           [Corrected]
                                             determines that the phytosanitary
                                                                                                     Municipal Airport, New Smyrna Beach,                    On page 42586, column 3 line 53,
                                             measures required for a fruit or                                                                              ■
                                                                                                     FL. The longitude coordinate symbols                  remove Lat. 29°03′21″ N, long. 80°56′56″
                                             vegetable that has been authorized
                                                                                                     for Massey Ranch Airpark listed in Class              W) and add in its place (Lat. 29°03′21″
                                             importation under this subpart are no
                                                                                                     E airspace areas extending upward from                N, long. 80°56′56″ W).
                                             longer sufficient to reasonably mitigate
                                                                                                     700 feet were typed as degrees, minutes,              ■ On page 42586, column 3 line 55,
                                             the pest risk posed by the fruit or
                                                                                                     minutes instead of degrees, minutes,                  remove (Lat. 28°58′44″ N, long.
                                             vegetable, APHIS will prohibit or
                                                                                                     and seconds. Also, a parenthesis was                  80°55′29′ W) and add in its place (Lat.
                                             further restrict importation of the fruit
                                                                                                     excluded from the airport’s geographic                28°58′44″ N, long. 80°55′29″ W)
                                             or vegetable. APHIS will also publish a
                                                                                                     coordinates.
                                             notice in the Federal Register advising                                                                         Issued in College Park, Georgia, on
                                             the public of its finding. The notice will              DATES: Effective 0901 UTC, November 8,                September 6, 2018.
                                             specify the amended importation                         2018. The Director of the Federal                     Ken Brissenden,
                                             requirements, provide an effective date                 Register approves this incorporation by
                                                                                                                                                           Acting Manager, Operations Support Group,
                                             for the change, and will invite public                  reference action under title 1, Code of               Eastern Service Center, Air Traffic
                                             comment on the subject.                                 Federal Regulations, part 51, subject to              Organization.
                                               (ii) If the Administrator determines                  the annual revision of FAA Order                      [FR Doc. 2018–19978 Filed 9–13–18; 8:45 am]
                                             that any of the phytosanitary measures                  7400.11 and publication of conforming
                                                                                                                                                           BILLING CODE 4910–13–P
                                             required for a fruit or vegetable that has              amendments.
                                             been authorized importation under this                  FOR FURTHER INFORMATION CONTACT: John
                                             subpart are no longer necessary to                      Fornito, Operations Support Group,
                                             reasonably mitigate the pest risk posed                                                                       FEDERAL TRADE COMMISSION
                                                                                                     Eastern Service Center, Federal Aviation
                                             by the fruit or vegetable, APHIS will                   Administration, 1701 Columbia Av.,                    RIN 3084–AA98
                                             make new pest risk documentation
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                                                                                                     College Park, GA 30337; telephone (404)
                                             available for public comment, in                        305–6364.                                             16 CFR Part 310
                                             accordance with paragraph (c)(3) of this                SUPPLEMENTARY INFORMATION:
                                             section, prior to allowing importation of                                                                     Telemarketing Sales Rule Fees
                                             the fruit or vegetable subject to the                   History
                                                                                                                                                           AGENCY:    Federal Trade Commission.
                                             phytosanitary measures specified in the                   The FAA published a final rule in the
                                                                                                                                                           ACTION:   Final rule.
                                             notice.                                                 Federal Register (83 FR 42585, August


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                                             46640            Federal Register / Vol. 83, No. 179 / Friday, September 14, 2018 / Rules and Regulations

                                             SUMMARY:   The Federal Trade                               The determination whether a fee                    List of Subjects in 16 CFR Part 310
                                             Commission (the ‘‘Commission’’) is                      change is required and the amount of                    Advertising, Consumer protection,
                                             amending its Telemarketing Sales Rule                   the fee change involves a two-step                    Reporting and recordkeeping
                                             (‘‘TSR’’) by updating the fees charged to               process. First, to determine whether a                requirements, Telephone, Trade
                                             entities accessing the National Do Not                  fee change is required, we measure the                practices.
                                             Call Registry (the ‘‘Registry’’) as                     change in the CPI from the time of the                  Accordingly, the Federal Trade
                                             required by the Do-Not-Call Registry Fee                previous increase in fees. There was an               Commission amends part 310 of title 16
                                             Extension Act of 2007.                                  increase in the fees for fiscal year 2018.            of the Code of Federal Regulations as
                                             DATES: This final rule (the revised fees)               Accordingly, we calculated the change                 follows:
                                             will become effective October 1, 2018.                  in the CPI since last year, and the
                                             ADDRESSES: Copies of this document are                  increase was 2.25 percent. Because this               PART 310—TELEMARKETING SALES
                                             available on the internet at the                        change is over the one percent                        RULE
                                             Commission’s website: https://                          threshold, the fees will change for fiscal
                                                                                                     year 2019.                                            ■ 1. The authority citation for part 310
                                             www.ftc.gov.
                                                                                                                                                           continues to read as follows:
                                             FOR FURTHER INFORMATION CONTACT:  Ami                      Second, to determine how much the
                                                                                                     fees should increase this fiscal year, we               Authority: 15 U.S.C. 6101–6108; 15 U.S.C.
                                             Joy Dziekan, (202) 326–2648, Bureau of                                                                        6151–6155.
                                             Consumer Protection, Federal Trade                      use the calculation specified by the Act
                                             Commission, 600 Pennsylvania Avenue                     set forth above: The percentage change                ■ 2. In § 310.8, revise paragraphs (c) and
                                             NW, Room CC–9225, Washington, DC                        in the baseline CPI applied to the                    (d) to read as follows:
                                             20580.                                                  original fees for fiscal year 2009. The
                                                                                                     average value of the CPI for July 1, 2007             § 310.8 Fee for access to the National Do
                                             SUPPLEMENTARY INFORMATION:       To comply              to June 30, 2008 was 211.702; the                     Not Call Registry.
                                             with the Do-Not-Call Registry Fee                       average value for July 1, 2017 to June 30,            *      *    *      *    *
                                             Extension Act of 2007 (Pub. L. 110–188,                 2018 was 248.126, an increase of 17.21                  (c) The annual fee, which must be
                                             122 Stat. 635) (‘‘Act’’), the Commission                percent. Applying the 17.21 percent                   paid by any person prior to obtaining
                                             is amending the TSR by updating the                     increase to the base amount from fiscal               access to the National Do Not Call
                                             fees entities are charged for accessing                 year 2009, leads to a $63 fee for access              Registry, is $63 for each area code of
                                             the Registry as follows: The revised rule               to a single area code of data for a full              data accessed, up to a maximum of
                                             increases the annual fee for access to the              year for fiscal year 2019, an increase of             $17,406; provided, however, that there
                                             Registry for each area code of data from                $1 from last year. The actual amount is               shall be no charge to any person for
                                             $62 to $63 per area code; and increases                 $63.29, but when rounded, pursuant to                 accessing the first five area codes of
                                             the maximum amount that will be                         the Act, $63 is the appropriate fee. The              data, and provided further, that there
                                             charged to any single entity for                        fee for accessing an additional area code             shall be no charge to any person
                                             accessing area codes of data from                       for a half year increases from $31 to $32             engaging in or causing others to engage
                                             $17,021 to $17,406. Entities may add                    (rounded from $31.65). The maximum                    in outbound telephone calls to
                                             area codes during the second six months                 amount charged increases to $17,406                   consumers and who is accessing area
                                             of their annual subscription; the fee for               (rounded from $17,405.69).                            codes of data in the National Do Not
                                             those additional area codes of data                                                                           Call Registry if the person is permitted
                                             increases from $31 to $32.                                 Administrative Procedure Act;                      to access, but is not required to access,
                                                These increases are in accordance                    Regulatory Flexibility Act; Paperwork                 the National Do Not Call Registry under
                                             with the Act, which specifies that                      Reduction Act. The revisions to the Fee               this Rule, 47 CFR 64.1200, or any other
                                             beginning after fiscal year 2009, the                   Rule are technical in nature and merely               Federal regulation or law. No person
                                             dollar amounts charged shall be                         incorporate statutory changes to the                  may participate in any arrangement to
                                             increased by an amount equal to the                     TSR. These statutory changes have been                share the cost of accessing the National
                                             amounts specified in the Act, multiplied                adopted without change or                             Do Not Call Registry, including any
                                             by the percentage (if any) by which the                 interpretation, making public comment                 arrangement with any telemarketer or
                                             average of the monthly consumer price                   unnecessary. Therefore, the Commission                service provider to divide the costs to
                                             index (for all urban consumers                          has determined that the notice and                    access the registry among various clients
                                             published by the Department of Labor)                   comment requirements of the                           of that telemarketer or service provider.
                                             (‘‘CPI’’) for the most recently ended 12-               Administrative Procedure Act do not                      (d) Each person who pays, either
                                             month period ending on June 30                          apply. See 5 U.S.C. 553(b). For this                  directly or through another person, the
                                             exceeds the CPI for the 12-month period                 reason, the requirements of the                       annual fee set forth in paragraph (c) of
                                             ending June 30, 2008. The Act also                      Regulatory Flexibility Act also do not                this section, each person excepted
                                             states that any increase shall be rounded               apply. See 5 U.S.C. 603, 604.                         under paragraph (c) from paying the
                                             to the nearest dollar and that there shall                 Pursuant to the Paperwork Reduction                annual fee, and each person excepted
                                             be no increase in the dollar amounts if                 Act, 44 U.S.C. 3501–3521, the Office of               from paying an annual fee under
                                             the change in the CPI since the last fee                Management and Budget (‘‘OMB’’)                       § 310.4(b)(1)(iii)(B), will be provided a
                                             increase is less than one percent. For                  approved the information collection                   unique account number that will allow
                                             fiscal year 2009, the Act specified that                requirements in the Amended TSR and                   that person to access the registry data
                                             the original annual fee for access to the               assigned the following existing OMB                   for the selected area codes at any time
                                             Registry for each area code of data was                 Control Number: 3084–0169. The                        for the twelve month period beginning
                                             $54 per area code, or $27 per area code                 amendments outlined in this Final Rule                on the first day of the month in which
daltland on DSKBBV9HB2PROD with RULES




                                             of data during the second six months of                 pertain only to the fee provision                     the person paid the fee (‘‘the annual
                                             an entity’s annual subscription period,                 (§ 310.8) of the Amended TSR and will                 period’’). To obtain access to additional
                                             and that the maximum amount that                        not establish or alter any record                     area codes of data during the first six
                                             would be charged to any single entity                   keeping, reporting, or third-party                    months of the annual period, each
                                             for accessing area codes of data would                  disclosure requirements elsewhere in                  person required to pay the fee under
                                             be $14,850.                                             the Amended TSR.                                      paragraph (c) of this section must first


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                                                              Federal Register / Vol. 83, No. 179 / Friday, September 14, 2018 / Rules and Regulations                                         46641

                                             pay $63 for each additional area code of                SUPPLEMENTARY INFORMATION:      PBGC’s                preceding the benefit’s placement in pay
                                             data not initially selected. To obtain                  regulations on Allocation of Assets in                status. In comparison with the interest
                                             access to additional area codes of data                 Single-Employer Plans (29 CFR part                    assumptions in effect for September
                                             during the second six months of the                     4044) and Benefits Payable in                         2018, these interest assumptions
                                             annual period, each person required to                  Terminated Single-Employer Plans (29                  represent no change in the immediate
                                             pay the fee under paragraph (c) of this                 CFR part 4022) prescribe actuarial                    rate and no changes in i1, i2, or i3.
                                             section must first pay $32 for each                     assumptions—including interest                           PBGC has determined that notice and
                                             additional area code of data not initially              assumptions—for valuing and paying                    public comment on this amendment are
                                             selected. The payment of the additional                 plan benefits under terminating single-               impracticable and contrary to the public
                                             fee will permit the person to access the                employer plans covered by title IV of                 interest. This finding is based on the
                                             additional area codes of data for the                   the Employee Retirement Income                        need to determine and issue new
                                             remainder of the annual period.                         Security Act of 1974 (ERISA). The                     interest assumptions promptly so that
                                             *     *     *     *     *                               interest assumptions in the regulations               the assumptions can reflect current
                                                                                                     are also published on PBGC’s website                  market conditions as accurately as
                                               By direction of the Commission.
                                                                                                     (http://www.pbgc.gov).                                possible.
                                             Donald S. Clark,
                                                                                                        The interest assumptions in appendix                  Because of the need to provide
                                             Secretary.                                              B to part 4044 are used to value benefits             immediate guidance for the valuation
                                             [FR Doc. 2018–20048 Filed 9–13–18; 8:45 am]             for allocation purposes under ERISA                   and payment of benefits under plans
                                             BILLING CODE 6750–01–P                                  section 4044. PBGC uses the interest                  with valuation dates during October
                                                                                                     assumptions in appendix B to part 4022                2018, PBGC finds that good cause exists
                                                                                                     to determine whether a benefit is                     for making the assumptions set forth in
                                             PENSION BENEFIT GUARANTY                                payable as a lump sum and to determine                this amendment effective less than 30
                                             CORPORATION                                             the amount to pay. Appendix C to part                 days after publication.
                                                                                                     4022 contains interest assumptions for                   PBGC has determined that this action
                                             29 CFR Parts 4022 and 4044                              private-sector pension practitioners to               is not a ‘‘significant regulatory action’’
                                                                                                     refer to if they wish to use lump-sum                 under the criteria set forth in Executive
                                             Allocation of Assets in Single-
                                                                                                     interest rates determined using PBGC’s                Order 12866.
                                             Employer Plans; Benefits Payable in
                                                                                                     historical methodology. Currently, the                   Because no general notice of proposed
                                             Terminated Single-Employer Plans;
                                                                                                     rates in appendices B and C of the                    rulemaking is required for this
                                             Interest Assumptions for Valuing and
                                                                                                     benefit payment regulation are the same.              amendment, the Regulatory Flexibility
                                             Paying Benefits
                                                                                                        The interest assumptions are intended              Act of 1980 does not apply. See 5 U.S.C.
                                             AGENCY:  Pension Benefit Guaranty                       to reflect current conditions in the                  601(2).
                                             Corporation.                                            financial and annuity markets.
                                             ACTION: Final rule.                                     Assumptions under the asset allocation                List of Subjects
                                                                                                     regulation are updated quarterly;                     29 CFR Part 4022
                                             SUMMARY:   This final rule amends the                   assumptions under the benefit payments
                                             Pension Benefit Guaranty Corporation’s                  regulation are updated monthly. This                    Employee benefit plans, Pension
                                             regulations on Benefits Payable in                      final rule updates the benefit payments               insurance, Pensions, Reporting and
                                             Terminated Single-Employer Plans and                    interest assumptions for October 2018                 recordkeeping requirements.
                                             Allocation of Assets in Single-Employer                 and updates the asset allocation interest             29 CFR Part 4044
                                             Plans to prescribe interest assumptions                 assumptions for the fourth quarter
                                             under the benefit payments regulation                   (October through December) of 2018.                     Employee benefit plans, Pension
                                             for valuation dates in October 2018 and                    The fourth quarter 2018 interest                   insurance, Pensions.
                                             interest assumptions under the asset                    assumptions under the allocation                        In consideration of the foregoing, 29
                                             allocation regulation for valuation dates               regulation will be 2.84 percent for the               CFR parts 4022 and 4044 are amended
                                             in the fourth quarter of 2018. The                      first 20 years following the valuation                as follows:
                                             interest assumptions are used for                       date and 2.76 percent thereafter. In
                                             valuing and paying benefits under                       comparison with the interest                          PART 4022—BENEFITS PAYABLE IN
                                             terminating single-employer plans                       assumptions in effect for the third                   TERMINATED SINGLE-EMPLOYER
                                             covered by the pension insurance                        quarter of 2018, these interest                       PLANS
                                             system administered by PBGC.                            assumptions represent a decrease of 5
                                             DATES: Effective October 1, 2018.                       years in the select period (the period                ■ 1. The authority citation for part 4022
                                             FOR FURTHER INFORMATION CONTACT:                        during which the select rate (the initial             continues to read as follows:
                                             Melissa Rifkin (rifkin.melissa@                         rate) applies), an increase of 0.31                     Authority: 29 U.S.C. 1302, 1322, 1322b,
                                             PBGC.gov), Attorney, Regulatory Affairs                 percent in the select rate, and an                    1341(c)(3)(D), and 1344.
                                             Division, Pension Benefit Guaranty                      increase of 0.12 percent in the ultimate              ■ 2. In appendix B to part 4022, Rate Set
                                             Corporation, 1200 K Street NW,                          rate (the final rate).                                300 is added at the end of the table to
                                             Washington, DC 20005, 202–326–4400,                        The October 2018 interest                          read as follows:
                                             ext. 6563. (TTY users may call the                      assumptions under the benefit payments
                                             Federal relay service toll free at 1–800–               regulation will be 1.25 percent for the               Appendix B to Part 4022—Lump Sum
                                             877–8339 and ask to be connected to                     period during which a benefit is in pay               Interest Rates For PBGC Payments
                                             202–326–4400, ext. 6563.)                               status and 4.00 percent during any years              *        *   *     *    *
daltland on DSKBBV9HB2PROD with RULES




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Document Created: 2018-09-14 03:03:50
Document Modified: 2018-09-14 03:03:50
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionRules and Regulations
ActionFinal rule.
DatesThis final rule (the revised fees) will become effective October 1, 2018.
ContactAmi Joy Dziekan, (202) 326-2648, Bureau of Consumer Protection, Federal Trade Commission, 600 Pennsylvania Avenue NW, Room CC-9225, Washington, DC 20580.
FR Citation83 FR 46639 
RIN Number3084-AA98
CFR AssociatedAdvertising; Consumer Protection; Reporting and Recordkeeping Requirements; Telephone and Trade Practices

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