[Federal Register Volume 64, Number 126 (Thursday, July 1, 1999)]
[Notices]
[Pages 35702-35703]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-16795]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Reportable Events

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intention to request extension of OMB approval.

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SUMMARY: The Pension Benefit Guaranty Corporation (``PBGC'') intends to 
request that the Office of Management and Budget (``OMB'') extend 
approval, under the Paperwork Reduction Act, of the collection of 
information under Part 4043 of its regulations relating to Reportable 
Events (OMB control number 1212-0013; expires September 30, 1999). This 
notice informs the public of the PBGC's intent and solicits public 
comment on the collection of information.

DATES: Comments should be submitted by August 30, 1999.

ADDRESSES: Comments may be mailed to the Office of the General Counsel, 
suite 340, Pension Benefit Guaranty Corporation, 1200 K Street, NW., 
Washington, DC 20005-4026, or delivered to that address between 9 a.m. 
and 4 p.m. on business days. Written comments will be available for 
public inspection at the PBGC's Communications and Public Affairs 
Department, suite 240 at the same address, between 9 a.m. and 4 p.m. on 
business days.
    Copies of the collection of information may be obtained without 
charge by writing to the PBGC's Communications and Public Affairs 
Department at the address given above or calling 202-326-4040. (For TTY 
and TDD users, call the Federal relay service toll-free at 1-800-877-
8339 and ask to be connected to 202-326-4040.) The reportable events 
regulations, forms, and instructions may be accessed on the PBGC's web 
site at http://www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT: James L. Beller, Attorney, Office of 
the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street, NW., Washington, DC 20005-4026, 202-326-4024. (For TTY and TDD 
users, call the Federal relay service toll-free at 1-800-877-8339 and 
ask to be connected to 202-326-4040.)

SUPPLEMENTARY INFORMATION: Section 4043 of the Employee Retirement 
Income Security Act of 1974 (ERISA) requires plan administrators and 
plan sponsors to report certain plan and corporate events to the PBGC. 
The reporting requirements give the PBGC timely notice of events that 
indicate plan or employer financial problems. The PBGC uses the 
information provided in determining what, if any, action it needs to 
take. For example, the PBGC might need to institute proceedings to 
terminate the plan (placing it in trusteeship) under section 4042 of 
ERISA to ensure the continued payment of benefits to plan participants 
and their beneficiaries or to prevent unreasonable increases in its 
losses.
    The collection of information under the regulation has been 
approved through September 30, 1999, by OMB under control number 1212-
0013. The PBGC intends to request that OMB extend approval for another 
three years. An agency may not conduct or sponsor, and a person is not 
required to respond to, a collection of information unless it displays 
a currently valid OMB control number.
    The PBGC estimates that it will receive 305 reportable event per 
year under this collection of information. The PBGC further estimates 
that the average annual burden of this collection of information is 
1,249 hours and $187,350.
    The PBGC is soliciting public comments to--
     Evaluate whether the collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the collection of information, including the validity of the 
methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who

[[Page 35703]]

are to respond, including through the use of appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., permitting electronic 
submission of responses.

    Issued in Washington, D.C., this 28th day of June, 1999.
Stuart Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit 
Guaranty Corporation.
[FR Doc. 99-16795 Filed 6-30-99; 8:45 am]
BILLING CODE 7708-01-P