[Federal Register Volume 73, Number 226 (Friday, November 21, 2008)]
[Notices]
[Page 70681]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-27768]


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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 
(with modifications), 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 February 
28, 2009). This notice informs the public of the PBGC's intent and 
solicits public comment on the collection of information.

DATES: Comments must be submitted by January 20, 2009.

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, including personal information provided, will be 
posted to http://www.pbgc.gov.
    Copies of the collection of information and comments may be 
obtained without charge by writing to the Disclosure Division, Office 
of General Counsel, 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.) The reportable events 
regulation, forms, and instructions may be accessed on the PBGC's Web 
site at http://www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT: James Bloch, Program Analyst, 
Legislative and Policy Division, or Catherine B. Klion, Manager, 
Regulatory and Policy Division, Legislative and Regulatory Department, 
Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, 
DC 20005-4026; 202-326-4024. (For TTY/TDD users, call the Federal relay 
service toll-free at 1-800-877-8339 and ask to be connected to 202-326-
4024.)

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 employer events to the PBGC. 
The reporting requirements give the PBGC 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 a 
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 forms and instructions have been revised to remove information 
that is no longer applicable in light of changes made by the Pension 
Protection Act of 2006 and to refer to interim guidance issued by PBGC.
    The collection of information under the regulation has been 
approved through February 28, 2009, by OMB under control number 1212-
0013. The PBGC intends to request that OMB extend approval (with 
modifications) 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 628 reportable events per 
year under this collection of information. The PBGC further estimates 
that the average annual burden of this collection of information is 
2,571 hours and $899,850.
    The PBGC is soliciting public comments to--
     Evaluate whether the proposed 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 proposed collection of information, including the 
validity of the methodologies 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 18th day of November, 2008.
John H. Hanley,
Director, Legislative and Regulatory Department, Pension Benefit 
Guaranty Corporation.
 [FR Doc. E8-27768 Filed 11-20-08; 8:45 am]
BILLING CODE 7709-01-P