[Federal Register Volume 71, Number 54 (Tuesday, March 21, 2006)]
[Notices]
[Pages 14255-14256]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-4061]


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PENSION BENEFIT GUARANTY CORPORATION


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

AGENCY: Pension Benefit Guaranty Corporation.

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

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SUMMARY: Pension Benefit Guaranty Corporation (``PBGC'') intends to 
request that the Office of Management and Budget (``OMB'') extend its 
approval (with modifications) of a collection of information under the 
Paperwork Reduction Act. The purpose of the information collection is 
to enable PBGC to pay benefits to participants and beneficiaries in 
plans covered by the PBGC insurance program. This notice informs the 
public of PBGC's intent and solicits public comment on the collection 
of information.

DATES: Comments should be submitted by May 22, 2006.

ADDRESSES: Comments may be mailed to the Legislative and Regulatory 
Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW., 
Washington, DC 20005-4026. Comments also may be submitted by e-mail to 
[email protected], or by fax to 202-326-4224. PBGC will make 
all comments available on its Web site, http://www.pbgc.gov.
    Copies of comments may also be obtained without charge by writing 
to the Disclosure Division of the Office of the General Counsel of PBGC 
at the above address or by visiting the Disclosure Division 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: Jo Amato Burns, Attorney, Legislative 
and Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K 
Street, NW., Washington, DC 20005-4026, 202-326-4024. (TTY/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: PBGC intends to request 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, PBGC requests 
individuals to provide identifying information that the individual 
would provide as part of an initial contact with PBGC. All requested 
information is needed to enable PBGC to determine benefit entitlements 
and to make appropriate payments. The information collection includes 
My Pension Benefit Account (My PBA), an application on PBGC's Web site, 
http://www.pbgc.gov, through which plan participants and beneficiaries 
may conduct electronic transactions with PBGC, including applying for 
pension benefits, designating a beneficiary, granting a power of 
attorney, electing monthly payments, electing to withhold income tax 
from periodic payments, changing contact information, and applying for 
electronic direct deposit.
    PBGC intends to improve its benefit application and information 
forms and

[[Page 14256]]

instructions and My PBA by making simplifying, editorial, and other 
changes. The existing collection of information under the regulation 
was approved under control number 1212-0055 (expires August 31, 2008). 
PBGC intends to request that OMB extend its approval (with 
modifications) for three years from the date of approval. 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.
    PBGC estimates that 184,350 benefit application or information 
forms will be filed annually by individuals entitled to benefits from 
PBGC and that the associated burden is 90,600 hours (an average of 
about one-half hour per response) and $71,900 (an average of $.39 per 
response). PBGC further estimates that 5,500 individuals annually will 
provide PBGC with identifying information as part of an initial contact 
so that PBGC may determine if they are entitled to benefits and that 
the associated burden is 1,500 hours (an average of about one-quarter 
hour per response) and $1,200 (an average of $.22 per response). Thus, 
the total estimated annual burden associated with this collection of 
information is 92,100 hours and $73,100.
    (These estimates include paper and electronic filings.).
    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 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 at Washington, DC, this 15th day of March, 2006.
Richard W. Hartt,
Chief Technology Officer, Pension Benefit Guaranty Corporation.
[FR Doc. E6-4061 Filed 3-20-06; 8:45 am]
BILLING CODE 7709-01-P