[Federal Register Volume 63, Number 154 (Tuesday, August 11, 1998)]
[Notices]
[Page 42889]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-21505]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Disclosure to Participants

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval.

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SUMMARY: The Pension Benefit Guaranty Corporation (``PBGC'') is 
requesting that the Office of Management and Budget (``OMB'') extend 
approval, under the Paperwork Reduction Act, of a collection of 
information in its regulation on Disclosure to Participants (29 CFR 
Part 4011) (OMB control number 1212-0050). This notice informs the 
public of the PBGC's request and solicits public comment on the 
collection of information.

DATES: Comments should be submitted by September 10, 1998.

ADDRESSES: Comments should be mailed to the Office of Information and 
Regulatory Affairs of the Office of Management and Budget, Attention: 
Desk Officer for Pension Benefit Guaranty Corporation, Washington, DC 
20503. Copies of the request for extension (including the collection of 
information) are available from the Communications and Public Affairs 
Department of the Pension Benefit Guaranty Corporation, suite 240, 1200 
K Street, NW., Washington, DC, 20005-4026, between 9 a.m. and 4 p.m. on 
business days.

FOR FURTHER INFORMATION CONTACT: Harold J. Ashner, Assistant General 
Counsel, or Catherine B. Klion, Attorney, Office of the General 
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street, NW., 
Washington, DC 20005-4026, 202-326-4024. (For TTY/TDD users, call the 
Federal relay service toll-free at 1-800-877-8339 and ask to be 
connected to 202-326-4024.)

SUPPLEMENTARY INFORMATION: Section 4011 of the Employee Retirement 
Income Security Act of 1974 requires plan administrators of certain 
underfunded single-employer pension plans to provide an annual notice 
to plan participants and beneficiaries of the plan's funding status and 
the limits on the PBGC's guarantee.
    The PBGC's regulation implementing this provision (29 CFR Part 
4011) prescribes which plans are subject to the notice requirement, who 
is entitled to receive the notice, and the time, form, and manner of 
issuance of the notice. The notice provides recipients with meaningful, 
understandable, and timely information that will help them become 
better informed about their plans and assist them in their financial 
planning. (The regulation may be accessed on the PBGC's home page at 
http://www.pbgc.gov.)
    The collection of information under the regulation has been 
approved by OMB under control number 1212-0050. The PBGC is requesting 
that OMB extend its approval for three years.
    The PBGC estimates that an average of 3,500 plans per year will 
respond to this collection of information. The PBGC further estimates 
that the average annual burden of this collection of information will 
be 1.97 hours and $74 per plan, with an average total annual burden of 
6,904 hours and $258,900.

    Issued in Washington, DC, this 5th day of August, 1998.
Stuart A. Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit 
Guaranty Corporation.
[FR Doc. 98-21505 Filed 8-10-98; 8:45 am]
BILLING CODE 7708-01-P