[Federal Register Volume 77, Number 203 (Friday, October 19, 2012)]
[Notices]
[Pages 64355-64356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-25765]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Annual Funding Notice for Defined Benefit 
Pension Plans

ACTION: Notice.

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SUMMARY: The Department of Labor (DOL) is submitting the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Annual Funding Notice for Defined 
Benefit Pension Plans,'' to the Office of Management and Budget (OMB) 
for review and approval for continued use in accordance with the 
Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501 et seq.).

[[Page 64356]]


DATES: Submit comments on or before November 19, 2012.

ADDRESSES: A copy of this ICR with applicable supporting documentation; 
including a description of the likely respondents, proposed frequency 
of response, and estimated total burden may be obtained from the 
RegInfo.gov Web site, http://www.reginfo.gov/public/do/PRAMain, on the 
day following publication of this notice or by contacting Michel Smyth 
by telephone at 202-693-4129 (this is not a toll-free number) or 
sending an email to [email protected].
    Submit comments about this request to the Office of Information and 
Regulatory Affairs, Attn: OMB Desk Officer for DOL-EBSA, Office of 
Management and Budget, Room 10235, 725 17th Street NW., Washington, DC 
20503, Fax: 202-395-6881 (this is not a toll-free number), email: 
[email protected].

FOR FURTHER INFORMATION CONTACT: Michel Smyth by telephone at 202-693-
4129 (this is not a toll-free number) or by email at [email protected].

    Authority:  44 U.S.C. 3507(a)(1)(D).


SUPPLEMENTARY INFORMATION: Pension Protection Act of 2006, Public Law 
109-280, section 501(a) amended Employee Retirement Income Security Act 
(ERISA) section 101(f), 29 U.S.C. 1021(f), to require administrators of 
all defined benefit plans subject to ERISA title IV to provide an 
annual funding notice to the Pension Benefit Guaranty Corporation 
(PBGC), to each plan participant and beneficiary, to each labor 
organization representing such participants or beneficiaries, and, in 
the case of a multiemployer plan, to each employer that has an 
obligation to contribute to the plan. An annual funding notice must 
include, among other things, the plan's funding percentage, a statement 
of the value of the plan's assets and liabilities and a description of 
how the plan's assets are invested as of specific dates, and a 
description of the benefits under the plan that are eligible to be 
guaranteed by the PBGC. The EBSA issued Field Assistance Bulletin 2009-
1 to provide interim guidance on the requirements.
    This information collection is subject to the PRA. A Federal agency 
generally cannot conduct or sponsor a collection of information, and 
the public is generally not required to respond to an information 
collection, unless it is approved by the OMB under the PRA and displays 
a currently valid OMB Control Number. In addition, notwithstanding any 
other provisions of law, no person shall generally be subject to 
penalty for failing to comply with a collection of information if the 
collection of information does not display a valid Control Number. See 
5 CFR 1320.5(a) and 1320.6. The DOL obtains OMB approval for this 
information collection under Control Number 1210-0126. The current 
approval is scheduled to expire on October 31, 2010; however, it should 
be noted that existing information collection requirements submitted to 
the OMB receive a month-to-month extension while they undergo review. 
For additional information, see the related notice published in the 
Federal Register on June 25, 2012 (77 FR 37920).
    Interested parties are encouraged to send comments to the OMB, 
Office of Information and Regulatory Affairs at the address shown in 
the ADDRESSES section within 30 days of publication of this notice in 
the Federal Register. In order to help ensure appropriate 
consideration, comments should mention OMB Control Number 1210-0126. 
The OMB is particularly interested in comments that:
     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 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.
    Agency: DOL-EBSA.
    Title of Collection: Annual Funding Notice for Defined Benefit 
Pension Plans.
    OMB Control Number: 1210-0126.
    Affected Public: Private Sector--business or other for-profits, 
farms, and not-for-profit institutions.
    Total Estimated Number of Respondents: 27,534.
    Total Estimated Number of Responses: 44,500,000.
    Total Estimated Annual Burden Hours: 977,000.
    Total Estimated Annual Other Costs Burden: $20,000,000.

    Dated: October 15, 2012.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2012-25765 Filed 10-18-12; 8:45 a.m.]
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