[Federal Register Volume 63, Number 248 (Monday, December 28, 1998)]
[Notices]
[Pages 71538-71539]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-34211]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service
[EE-34-95]


Proposed Collection; Comment Request For Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an 
existing final regulation, EE-34-95 (TD 8795), Notice of Significant 
Reduction in the Rate of Future Benefit Accrual. (Sec. 1.411(d)-6).

DATES: Written comments should be received on or before February 26, 
1999 to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Carol Savage, (202) 622-
3945, Internal Revenue Service, room 5569, 1111 Constitution Avenue 
NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Notice of Significant Reduction in the Rate of Future 
Benefit Accrual.
    OMB Number: 1545-1477.
    Regulation Project Number: EE-34-95.

[[Page 71539]]

    Abstract: This regulation provides guidance on the requirements of 
section 204(h) of the Employee Retirement Income Security Act of 1974, 
as amended. The regulation requires that a plan administrator provide a 
written notice to participants and certain other parties if certain 
pension plans are amended to provide for a significant reduction in the 
rate of future benefit accrual. The purpose of the notice is to assure 
that the rights of plan participants are protected.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 3,000.
    Estimated Time Per Respondent: 5 hours.
    Estimated Total Annual Burden Hours: 1,500.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    REQUEST FOR COMMENTS: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: December 21, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-34211 Filed 12-24-98; 8:45 am]
BILLING CODE 4830-01-U