[Federal Register Volume 59, Number 125 (Thursday, June 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-15926]


[[Page Unknown]]

[Federal Register: June 30, 1994]


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PENSION BENEFIT GUARANTY CORPORATION

 

Request for Extension of Approval of Collection of Information 
Under the Paperwork Reduction Act; Requests for PBGC Approval of 
Multiemployer Plan Amendment Adopting Abatement Rules

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for OMB approval.

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SUMMARY: The Pension Benefit Guaranty Corporation (``PBGC'') has 
requested that the Office of Management and Budget (``OMB'') extend 
approval, under the Paperwork Reduction Act, of a collection of 
information in its regulations on the reduction or waiver of complete 
withdrawal liability (OMB control number 1212-0044; expires September 
30, 1994). A multiemployer plan amendment adopting alternative rules 
for the reduction or waiver of complete withdrawal liability may not be 
put into effect until approved by the PBGC in response to a plan 
sponsor's request. The effect of this notice is to advise the public of 
the PBGC's request and solicit public comment on this collection of 
information.

ADDRESSES: All written comments (at least three copies) should be 
addressed to Office of Management and Budget, Paperwork Reduction 
Project (1212-0040), Washington, DC 20503. The PBGC's request for 
extension will be available for inspection at the PBGC's Communications 
and Public Affairs Department, Suite 240, 1200 K Street, NW., 
Washington, DC 20005-4026, between 9:00 a.m. and 4:00 p.m., Monday 
through Friday.

FOR FURTHER INFORMATION CONTACT:
Judith Neibrief, Attorney, Office of the General Counsel, Pension 
Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005-
4026, 202-326-4024 (202-326-4179 for TTY and TDD). (These are not toll-
free numbers.)

SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation 
(``PBGC'') administers the pension plan termination insurance programs 
under Title IV of the Employee Retirement Income Security Act of 1974, 
as amended (``ERISA'') (29 U.S.C. 1001 et seq.). Part 2647 of the 
PBGC's regulations (29 CFR Part 2647), Reduction or Waiver of Complete 
Withdrawal Liability, implements the requirements of ERISA section 4207 
(29 U.S.C. 1387). Since April 1, 1994, Part 2647 has included, in 
Sec. 2647.9, a procedure and standards for the amendment of plans to 
provide alternative rules for the reduction or waiver of complete 
withdrawal liability (i.e., rules for abatement under conditions other 
than those specified in Secs. 2647.4 and 2647.8 (c) and (d)) (59 FR 
9926, March 2, 1994).
    Under Sec. 2647.9, Plan rules for abatement, a plan amendment 
adopting such alternative rules (and any subsequent modification 
thereof) may not be put into effect until approved by the PBGC in 
response to a request by the plan sponsor. Paragraph (d) of Sec. 2647.9 
requires the submission of information that the PBGC needs to identify 
a plan and to determine whether to approve the amendment. (The PBGC 
will approve an amendment if it determines that the rules rules therein 
are consistent with the purposes of ERISA (paragraph (f)).)
    The PBGC is requesting that the Office of Management and Budget 
(``OMB'') extend approval of the collection of information (OMB control 
number 1212-0044; expires September 30, 1994) for another three years. 
The agency estimates that it will receive not more than 10 requests 
annually and that each request will take about 1/4 hour to prepare, for 
a total annual burden of not more than 2\1/2\ hours.

    Issued in Washington, DC this 27th day of June 1994.
Martin Slate,
Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 94-15926 Filed 6-29-94; 8:45 am]
BILLING CODE 7708-01-M