[Federal Register Volume 68, Number 17 (Monday, January 27, 2003)]
[Notices]
[Pages 3902-3903]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-1765]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Locating and Paying Participants

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval (with 
modifications).

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SUMMARY: The Pension Benefit Guaranty Corporation is requesting that 
the Office of Management and Budget extend its approval (with 
modifications) of a collection of information under the Paperwork 
Reduction Act. The purpose of the information collection is to enable 
the PBGC to pay benefits to participants and beneficiaries in plans 
covered by the PBGC insurance program. 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 February 26, 2003.

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) may be obtained without charge by writing to the PBGC's 
Communications and Public Affairs Department, suite 240, 1200 K Street, 
NW., Washington, DC 20005-4026, or by visiting that office or calling 
202-326-4040 during normal business hours. (TTY and TDD users may call 
the Federal relay service toll-free at 1-800-877-8339 and ask to be 
connected to 202-326-4040.)

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

SUPPLEMENTARY INFORMATION: The PBGC is requesting that OMB extend its 
approval (with modifications) of a collection of information needed to 
pay participants and beneficiaries who may be entitled to pension 
benefits under a defined benefit plan that has terminated. The 
collection consists of information participants and beneficiaries are 
asked to provide in connection with an application for benefits. In 
addition, in some instances, as part of a search for participants and 
beneficiaries who may be entitled to benefits, the PBGC requests 
individuals to provide identifying information that the individual 
would provide as part of an initial contact with the PBGC. The 
collection also includes pages on the PBGC's web site, www.pbgc.gov, 
that, for certain large plans, provide respondents with specific 
information about their pension plan and enable them to obtain a rough 
estimate of their benefit, either by using an online benefit estimate 
calculator or by completing an online form and submitting it to the 
PBGC to compute an estimate. All requested information is needed to 
enable the PBGC to determine benefit entitlements and to make 
appropriate payments or to provide respondents with specific 
information about their pension plan and enable them to obtain a rough 
estimate of their benefit.
    The existing collection of information was approved under control 
number 1212-0055 (expires February 28, 2003).
    The PBGC estimates that 134,950 benefit application or information 
forms will be filed annually by individuals entitled to benefits from 
the PBGC and that the associated burden is 76,200 hours (an average of 
about one-half hour per response) and $49,931.50 (an average of $.37 
per response). The PBGC further estimates that 5,500 individuals 
annually will provide the PBGC with identifying information as part of 
an initial contact and that the associated burden is 1,500 hours (an 
average of about one-quarter hour per response) and $1,100 (an average 
of $.20 per

[[Page 3903]]

response). Thus, the total estimated annual burden associated with this 
collection of information is 77,700 hours and $51,041.50.

    Issued in Washington, DC, this 22nd day of January, 2003.
Stuart A. Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit 
Guaranty Corporation.
[FR Doc. 03-1765 Filed 1-24-03; 8:45 am]
BILLING CODE 7708-01-P