[Federal Register Volume 72, Number 71 (Friday, April 13, 2007)]
[Notices]
[Pages 18692-18693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-7126]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Procedures for Implementing Multiemployer Plan 
Elections

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intention to request OMB approval.

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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to 
request that the Office of Management and Budget (OMB) approve, under 
the Paperwork Reduction Act, a collection of information under its 
procedures on multiemployer plan elections. 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 June 12, 2007.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the Web site instructions for submitting comments.
     E-mail: [email protected].
     Fax: 202-326-4224.
     Mail or Hand Delivery: Legislative and Regulatory 
Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW., 
Washington, DC 20005-4026. Comments received will be posted to http://www.pbgc.gov.
    Copies of the collection of information may 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: Constance Markakis, Attorney, 
Legislative and Regulatory Department, Pension Benefit Guaranty 
Corporation, 1200 K Street, NW., Washington, DC 20005-4026, 202-326-
4000, ext. 6779. (For TTY and TDD, call 800-877-8339 and request 
connection to 202-326-4000, ext. 6779.)

SUPPLEMENTARY INFORMATION: Section 1106 of the Pension Plan Protection 
Act of 2006 (``PPA 2006'') amends the definition of a ``multiemployer 
plan'' in Title I of ERISA and the Internal Revenue Code of 1986 to 
allow certain plans to elect to be multiemployer plans pursuant to 
procedures prescribed by PBGC. A plan is eligible for the election if 
it is (i) a plan revoking a previous election to remain a single-
employer plan under section 3(37)(E) of ERISA, or (ii) a plan with 
respect to which substantially all employer contributions were made by 
tax-exempt employers. In either case, for the three plan years 
preceding the enactment of PPA 2006, the plan must have been a plan to 
which more than one employer was required to contribute that was 
maintained pursuant to one or more collective bargaining agreements. 
PPA 2006 also imposes other requirements for an election, and provides 
certain exemptions from the requirements. All elections must be made by 
August 17, 2007.
    PBGC's proposed procedures for implementing the multiemployer plan 
election requires a plan to submit specified information to PBGC to 
demonstrate that it meets the statutory eligibility requirements. The 
information collection includes names of contributing employers, copies 
of collective bargaining agreements that require contributions to the 
plan, numbers of participants and contributions to the plan under those 
collective bargaining agreements and the plan as a whole, information 
on common control among contributing employers to the plan, copies of 
the plan and trust documents, and evidence of the tax-exempt status of 
contributing employers and the percentage of total plan contributions 
attributable to these employers. For the limited purposes of the 
election under section 1106 of PPA 2006, the procedures provide a safe 
harbor provision for meeting the multiemployer criterion that a plan be 
``maintained pursuant to collective bargaining agreements.''
    The PBGC intends to request that OMB approve this collection of 
information for three years. (Although plans must make an election by 
August 17, 2007, PBGC may request additional information, after that 
date, that is needed to review the election.) 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 from 20 to 50 plans will respond to this 
collection of information. The PBGC further estimates that the average 
burden of this collection of information is 5 hours and $1,875 per 
plan, with an average total burden of 175 hours and $65,625.
    The PBGC is soliciting public comments to--

[[Page 18693]]

     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 in Washington, DC, this 11th day of April 2007.
Marc A. Felton,
Deputy Chief Information Officer, Pension Benefit Guaranty Corporation.
 [FR Doc. E7-7126 Filed 4-12-07; 10:57 am]
BILLING CODE 7709-01-P