Publication of the List of Areas of Northeast and Northwest Syria in Which Activities Are Authorized by 31 CFR 542.533

Federal Register / Vol. 89, No. 110 / Thursday, June 6, 2024 / Rules and Regulations 48309 assumptions prescribed in §§ 4044.51 through 4044.58 of this chapter with the following modifications:

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(2) The mortality assumption is the mortality table in § 4044.53(h) of this chapter.

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(4) The interest assumption is the assumption for valuing benefits under § 4044.54 of this chapter applicable to valuations occurring on December 31 of the calendar year preceding the calendar year in which the benefit determination date occurs. However, for benefit determination dates July 31 through December 31 of 2024, the interest assumption is the assumption for valuing benefits under § 4044.54 of this chapter applicable to valuations occurring on July 31, 2024.

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(7) Notwithstanding the expected retirement age (XRA) assumptions in §§ 4044.55 through 4044.58 of this chapter— (i) In the case of a participant who is not in pay status and whose normal retirement date is on or after the benefit determination date, benefits are assumed to commence at the XRA, determined using the high retirement rate category under table II–C (Expected Retirement Ages for Individuals in the High Category) in § 4044.58 of this chapter;

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■ 29. Amend § 4050.302 by revising the introductory text and paragraphs (2), (4), (7) introductory text, and (7)(i) of the definition of PBGC missing participants assumptions to read as follows: § 4050.302 Definitions.

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PBGC missing participants assumptions means the actuarial assumptions prescribed in §§ 4044.51 through 4044.58 of this chapter with the following modifications:

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(2) The mortality assumption is the mortality table in § 4044.53(h) of this chapter.

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(4) The interest assumption is the assumption for valuing benefits under § 4044.54 of this chapter applicable to valuations occurring on December 31 of the calendar year preceding the calendar year in which the benefit determination date occurs. However, for benefit determination dates July 31 through December 31 of 2024, the interest assumption is the assumption for valuing benefits under § 4044.54 of this chapter applicable to valuations occurring on July 31, 2024.

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(7) Notwithstanding the expected retirement age (XRA) assumptions in §§ 4044.55 through 4044.58 of this chapter— (i) In the case of a participant who is not in pay status and whose normal retirement date is on or after the benefit determination date, benefits are assumed to commence at the XRA, determined using the high retirement rate category under table II–C (Expected Retirement Ages for Individuals in the High Category) in § 4044.58 of this chapter;

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■ 30. Amend § 4050.402 by revising the introductory text and paragraphs (2), (4), (7) introductory text, and (7)(i) of the definition of PBGC missing participants assumptions to read as follows: § 4050.402 Definitions.

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PBGC missing participants assumptions means the actuarial assumptions prescribed in §§ 4044.51 through 4044.58 of this chapter with the following modifications:

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(2) The mortality assumption is the mortality table in § 4044.53(h) of this chapter.

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(4) The interest assumption is the assumption for valuing benefits under § 4044.54 of this chapter applicable to valuations occurring on December 31 of the calendar year preceding the calendar year in which the benefit determination date occurs. However, for benefit determination dates July 31 through December 31 of 2024, the interest assumption is the assumption for valuing benefits under § 4044.54 of this chapter applicable to valuations occurring on July 31, 2024.

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(7) Notwithstanding the expected retirement age (XRA) assumptions in §§ 4044.55 through 4044.58 of this chapter— (i) In the case of a participant who is not in pay status and whose normal retirement date is on or after the benefit determination date, benefits are assumed to commence at the XRA, determined using the high retirement rate category under table II–C (Expected Retirement Ages for Individuals in the High Category) in § 4044.58 of this chapter;

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PART 4262—SPECIAL FINANCIAL ASSISTANCE BY PBGC ■ 31. The authority citation for part 4262 continues to read as follows: Authority: 29 U.S.C. 1302(b)(3), 1432. § 4262.16 [Amended] ■ 32. Amend § 4262.16 in paragraphs (f)(3)(iv), (g)(1) introductory text, and (h)(1)(ii) by removing the words ‘‘in appendix B to part 4044’’ and adding in its place the words ‘‘under § 4044.54’’. PART 4281—DUTIES OF PLAN SPONSOR FOLLOWING MASS WITHDRAWAL ■ 33. The authority citation for part 4281 continues to read as follows: Authority: 29 U.S.C. 1302(b)(3), 1341(a), 1399(c)(1)(D), 1431, and 1441. ■ 34. Amend § 4281.13 by revising paragraphs (a) and (e) to read as follows: § 4281.13 Benefit valuation methods—in general.

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(a) Using the interest assumptions under § 4044.54 of this chapter;

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(e) Adjusting the values to reflect the loading for expenses in accordance with § 4044.52(d) of this chapter (substituting the term ‘‘benefits’’ for the term ‘‘benefit liabilities (as defined in 29 U.S.C. 1301(a)(16))’’). Signed in Washington, DC. Ann Y. Orr, Acting Director, Pension Benefit Guaranty Corporation. [FR Doc. 2024–11819 Filed 6–5–24; 8:45 am] BILLING CODE 7709–02–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 542 Publication of the List of Areas of Northeast and Northwest Syria in Which Activities Are Authorized by 31 CFR 542.533 AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Publication of a list of areas of northwest and northeast Syria in which activities are authorized by a general license in the Syrian Sanctions Regulations. SUMMARY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing a list of areas of northeast and northwest Syria VerDate Sep<11>2014 16:29 Jun 05, 2024 Jkt 262001 PO 00000 Frm 00053 Fmt 4700 Sfmt 4700 E:\FR\FM\06JNR1.SGM 06JNR1 lotter on DSK11XQN23PROD with RULES1

48310 Federal Register / Vol. 89, No. 110 / Thursday, June 6, 2024 / Rules and Regulations in which activities are authorized under a general license (GL) issued pursuant to the Syrian Sanctions Regulations. The list of areas of northeast and northwest Syria previously existed as an annex to GL 22 (the ‘‘List’’), which was previously made available on OFAC’s website. DATES: This list is effective June 6, 2024. FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for Licensing, 202–622–2480; Assistant Director for Regulatory Affairs, 202–622–4855; or Assistant Director for Compliance, 202– 622–2490. SUPPLEMENTARY INFORMATION: Electronic Availability This document and additional information concerning OFAC is available on OFAC’s website (https:// ofac.treasury.gov). Background On May 12, 2022, OFAC, in consultation with the Department of State, issued GL 22 to authorize certain transactions otherwise prohibited by the Syrian Sanctions Regulations, 31 CFR part 542 (the ‘‘Regulations’’). GL 22 was made available on OFAC’s website (https://ofac.treasury.gov) when it was issued. OFAC subsequently published GL 22 in the Federal Register (88 FR 25278, April 28, 2023). GL 22 includes an annex listing the areas of northwest and northeast Syria in which activities are authorized under GL 22. On June 6, 2024, OFAC, in consultation with the Department of State, amended the Regulations to include additional interpretive and definitional guidance, general licenses, and other regulatory provisions that will provide further guidance to the public. As part of this regulatory amendment, OFAC incorporated GL 22 into the Regulations as § 542.533. OFAC is now publishing the annex to GL 22 as the List in the Federal Register. The text of the List is provided below. List of Areas of Northeast and Northwest Syria in Which Activities are Authorized by 31 CFR 542.533 The areas of northeast and northwest Syria in which activities are authorized by 31 CFR 542.533, subject to conditions in paragraph (c) of 31 CFR 542.533, including the exclusion of transactions involving the Government of Syria, are: (a) Halab (Aleppo) Governorate (1) Manbij District, excluding the following subdistricts: (i) Khafsah subdistrict (ii) Maskanah subdistrict (2) Al Bab District, excluding the following subdistricts: (i) Tadif subdistrict (ii) Dayr Hafir subdistrict (iii) Rasm Harmal al Imam subdistrict (iv) Kuwayris Sharqi subdistrict (3) Ayn Al Arab District (4) I’zaz District, excluding the following subdistricts: (i) Tall Rif’at subdistrict (ii) Nubl subdistrict (5) Jarabulus District (b) Ar Raqqah Governorate (1) Markaz ar Raqqah District, excluding the following subdistricts: (i) Ma’dan subdistrict (2) Tall Abyad District (3) Ath Thawrah District, excluding the following subdistricts: (i) Al Mansurah subdistrict (c) Dayr az Zawr Governorate (1) Markaz Dayr az Zawr District, excluding areas west of the Euphrates in the following subdistricts: (i) Markaz Dayr as Zawr subdistrict (ii) At Tibni subdistrict (iii) Muhasan subdistrict (iv) Khusham subdistrict (2) Al Mayadin District, excluding areas west of the Euphrates in the following subdistricts: (i) Markaz al Mayadin subdistrict (ii) Asharah subdistrict (3) Albu Kamal District, excluding areas west of the Euphrates in the following subdistricts: (i) Markaz Albu Kamal subdistrict (ii) Al Jala subdistrict (d) Al Hasakah Governorate (1) Markaz al Hasakah District (2) Al Malikiyah District (3) Al Qamishli District (4) Ra’s al Ayn District Bradley T. Smith, Director, Office of Foreign Assets Control. [FR Doc. 2024–12309 Filed 6–5–24; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 542 Syrian Sanctions Regulations AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Final rule. SUMMARY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is adopting a final rule amending the Syrian Sanctions Regulations to, among other things, implement the relevant provisions of a May 1, 2012 Executive order regarding foreign sanctions evaders with respect to Syria and Iran, and certain provisions of the Iran Threat Reduction and Syria Human Rights Act of 2012, the Countering America’s Adversaries Through Sanctions Act, and the Caesar Syria Civilian Protection Act of 2019. In addition to new prohibitions, OFAC is adding several relevant definitions and interpretations and one new general license. OFAC is also incorporating, with amendments, one general license, which has until now appeared only on OFAC’s website, and updating six general licenses. DATES: This rule is effective June 6, 2024. FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for Licensing, 202–622–2480; Assistant Director for Regulatory Affairs, 202–622–4855; or Assistant Director for Compliance, 202– 622–2490. SUPPLEMENTARY INFORMATION: Electronic Availability This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov. Background On April 5, 2005, OFAC issued the Syrian Sanctions Regulations, 31 CFR part 542 (70 FR 17201, April 5, 2005) (the ‘‘Regulations’’), to implement Executive Order (E.O.) 13338 of May 11, 2004, ‘‘Blocking Property of Certain Persons and Prohibiting the Export of Certain Goods to Syria’’ (69 FR 26751, May 13, 2004), pursuant to authorities delegated to the Secretary of the Treasury in E.O. 13338. The Regulations were initially issued in abbreviated form for the purpose of providing immediate guidance to the public. On May 2, 2014, OFAC reissued the Regulations in their entirety (79 FR 25414, May 2, 2014), and, among other things, implemented E.O. 13399 of April 25, 2006 (‘‘Blocking Property of Additional Persons in Connection With the National Emergency With Respect to Syria’’) (71 FR 25059, April 28, 2006), E.O. 13460 of February 13, 2008 (‘‘Blocking Property of Additional Persons in Connection With the National Emergency With Respect to Syria’’) (73 FR 8991, February 15, 2008), E.O. 13572 of April 29, 2011 (‘‘Blocking Property of Certain Persons With Respect to Human Rights Abuses in Syria’’) (76 FR 24787, May 3, 2011), E.O. 13573 of May 18, 2011 (‘‘Blocking Property of Senior Officials of the Government of Syria ’’) (76 FR 29143, May 20, 2011), E.O. 13582 of August 17, 2011 (‘‘Blocking Property of the Government of Syria and VerDate Sep<11>2014 16:29 Jun 05, 2024 Jkt 262001 PO 00000 Frm 00054 Fmt 4700 Sfmt 4700 E:\FR\FM\06JNR1.SGM 06JNR1 lotter on DSK11XQN23PROD with RULES1