[Federal Register Volume 87, Number 89 (Monday, May 9, 2022)]
[Notices]
[Pages 27667-27668]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-09895]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Request for Coverage Determination Form

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval of information 
collection.

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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting 
that the Office of Management and Budget (OMB) extend approval, with 
modifications, under the Paperwork Reduction Act, of a collection of 
information necessary for PBGC to determine whether a plan is covered 
under title IV of the Employee Retirement Security Income Act of 1974.

DATES: Comments must be submitted by June 8, 2022.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. A copy of 
the request will be posted on PBGC's website at https://www.pbgc.gov/prac/laws-and-regulation/federal-register-notices-open-for-comment. It 
may also be obtained without charge by writing to the Disclosure 
Division of the Office of the General Counsel of PBGC, 1200 K Street 
NW, Washington, DC 20005-4026; or, calling 202-229-4040 during normal 
business hours. If you are deaf, hard of hearing, or have a speech 
disability, please dial 7-1-1 to access telecommunications relay 
services.

FOR FURTHER INFORMATION CONTACT: Melissa Rifkin 
([email protected]), Attorney, Regulatory Affairs Division, 
Office of the General Counsel, Pension Benefit Guaranty Corporation, 
1200 K Street NW, Washington, DC 20005-4026; 202-229-6563. If you are 
deaf, hard of hearing, or have a speech disability, please dial 7-1-1 
to access telecommunications relay services.

SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation 
(PBGC) is requesting that the Office of Management and Budget (OMB) 
extend approval, under the Paperwork Reduction Act, of a collection of 
information that filers use to request that PBGC determine whether a 
defined benefit pension plan is covered under title IV of the Employee 
Retirement Income Security Act of 1974 (ERISA). (OMB control number 
1212-0072; expires June 30, 2022). This notice informs the public of 
PBGC's intent and solicits public comment on the collection of 
information.
    A plan is covered under title IV, and thereby insured by PBGC, if 
it is described in section 4021(a) of ERISA and does not meet one of 
the exemptions from coverage listed in section 4021(b)(1)-(13). If a 
question arises about whether a plan is covered under title IV, a plan 
may submit the Request for Coverage Determination form to PBGC.
    The Request for Coverage Determination form and corresponding 
instructions are suitable for all types of requests, but they highlight 
the four plan types for which coverage determinations are most 
frequently requested: (1) Church plans as listed in section 4021(b)(3) 
of ERISA; (2) plans that are established and maintained exclusively for 
the benefit of plan sponsors' substantial owners as listed in section 
4021(b)(9); (3) plans covering, since September 2, 1974, no more than 
25 active participants that are established and maintained by 
professional services employers as listed in section 4021(b)(13); and 
(4) Puerto Rico-based plans within the meaning of section 1022(i)(1) of 
ERISA. PBGC needs the information requested to determine whether a plan 
is covered or not covered under title IV of ERISA.
    PBGC intends to make editorial and formatting changes to question 1 
and 2 of Part II of the form. These revisions are intended to provide 
greater clarity to filers. In addition, PBGC plans to add a new 
question to Part II inquiring about the number of eligible participants 
with no accrued benefit. This addition is intended to garner a more 
accurate count of a plan's participants. Finally, PBGC plans to amend 
Question 4 of Part III applicable to a plan seeking a determination as 
a substantial owners plan. Under the amendment, a plan will need to 
provide the dates when participants separated from service, in addition 
to dates and amounts of payment to them. This addition is intended to 
allow PBGC to properly count payees who may still be participants in a 
plan even after distributions have occurred.
    The collection of information has been approved under OMB control 
number 1212-0072 (expires June 31, 2022). On March 1, 2022, PBGC 
published in the Federal Register (at 87 FR 11492) a notice informing 
the public of its intent to request approval of the revised collection 
of information. PBGC did not receive any comments. 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 each year there will be 310 Request for 
Coverage Determination forms submitted to PBGC. PBGC further estimates 
the average hour burden is 1.5 hours and average cost burden is $300. 
The total estimated annual burden of the collection of information is 
465 hours and $93,000


[[Page 27668]]


    Issued in Washington, DC, by.
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension 
Benefit Guaranty Corporation.
[FR Doc. 2022-09895 Filed 5-6-22; 8:45 am]
BILLING CODE 7709-02-P