[Federal Register Volume 84, Number 33 (Tuesday, February 19, 2019)]
[Notices]
[Pages 4863-4864]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02640]
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PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collection for OMB Review;
Comment Request; Annual Financial and Actuarial Information Reporting
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intent to request extension of OMB approval of
information collection.
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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to
request that the Office of Management and Budget (OMB) extend approval,
under the Paperwork Reduction Act, of a collection of information
contained in its regulation on Annual Financial and Actuarial
Information Reporting. This notice informs the public of PBGC's intent
and solicits public comment on the collection.
DATES: Comments must be submitted on or before April 22, 2019.
ADDRESSES: Comments may be submitted by any of the following methods:
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Email: [email protected].
Mail or Hand Delivery: Regulatory Affairs Division, Office
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K
Street NW, Washington, DC 20005-4026.
All submissions received must include the agency's name (Pension
Benefit Guaranty Corporation, or PBGC) and refer to ``4010 reporting,''
OMB Control No. 1212-0049. All comments received will be posted without
change to PBGC's website, http://www.pbgc.gov, including any personal
information provided.
Copies of the collection of information may also be obtained by
writing to Disclosure Division, Office of the General Counsel, Pension
Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005-
4026, or calling 202-326-4040 during normal business hours. TTY users
may call the Federal Relay Service toll-free at 800-877-8339 and ask to
be connected to 202-326-4040. PBGC's laws and procedures for coverage
determinations may be accessed on PBGC's website at http://www.pbgc.gov.
FOR FURTHER INFORMATION CONTACT: Stephanie Cibinic, Deputy Assistant
General Counsel, Regulatory Affairs Division, Office of the General
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW,
Washington DC 20005-4026; 202-326-4400, extension 6352. (TTY users may
call the Federal Relay Service toll-free at 800-877-8339 and ask to be
connected to 202-326-4400, extension 6352.)
SUPPLEMENTARY INFORMATION: Section 4010 of the Employee Retirement
Income Security Act of 1974 (ERISA) and PBGC's regulation on Annual
Financial and Actuarial Information Reporting (29 CFR part 4010)
require each member of a controlled group to submit financial and
actuarial information to PBGC under certain circumstances. Section 4010
specifies that each controlled group member must provide PBGC with
certain financial information, including audited (if available) or (if
not) unaudited financial statements. Section 4010 also specifies that
the controlled group must provide PBGC with certain actuarial
information necessary to determine the liabilities and assets for all
PBGC-covered plans.
PBGC's 4010 regulation specifies the items of identifying,
financial, and actuarial information that filers must submit under
section 4010, through PBGC's secure e-4010 web-based application.
Computer-assisted analysis of this information helps PBGC to anticipate
possible major demands on the pension insurance system and to focus
PBGC resources on situations that pose the greatest risks to that
system. Because other sources of information are usually not as current
as the section 4010 information and do not reflect a plan's termination
liability, the section 4010 filing plays a major role in PBGC's ability
to protect participant and premium-payer interests.
PBGC estimates that 560 controlled groups would file each year. The
total estimated annual burden of the information collection would be
approximately 532 hours and $12,830,000.
The existing collection of information was approved under OMB
control number 1212-0049 (expires July 31, 2019). PBGC intends to
request that OMB extend approval of this information collection 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.
[[Page 4864]]
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.
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension
Benefit Guaranty Corporation.
[FR Doc. 2019-02640 Filed 2-15-19; 8:45 am]
BILLING CODE 7709-02-P