[Federal Register Volume 87, Number 214 (Monday, November 7, 2022)]
[Notices]
[Pages 67078-67079]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-24233]


=======================================================================
-----------------------------------------------------------------------

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.

-----------------------------------------------------------------------

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to 
request that the Office of Management and Budget (OMB) extend approval, 
without modifications, 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 
of information.

DATES: Comments must be submitted on or before January 6, 2023.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the online instructions for submitting comments.
     Email: [email protected]. Refer to OMB control 
number 1212-0049 in the subject line.
     Mail or Hand Delivery: Regulatory Affairs Division, Office 
of the General Counsel, Pension Benefit Guaranty Corporation, 445 12th 
Street SW, Washington, DC 20024-2101.
    Commenters are strongly encouraged to submit public comments 
electronically. PBGC expects to have limited personnel available to 
process public comments that are submitted on paper through mail. Until 
further notice, any comments submitted on paper will be considered to 
the extent practicable.
    All submissions received must include the agency's name (Pension 
Benefit Guaranty Corporation, or PBGC) and refer to OMB control number 
1212-0049. All comments received will be posted without change to 
PBGC's website, http://www.pbgc.gov, including

[[Page 67079]]

any personal information provided. Do not submit comments that include 
any personally identifiable information or confidential business 
information.
    Copies of the collection of information may be obtained by writing 
to Disclosure Division, Office of the General Counsel, Pension Benefit 
Guaranty Corporation, 445 12th Street SW, Washington, DC 20024-2101, or 
calling 202-229-4040 during normal business hours. If you are deaf or 
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, 
445 12th Street SW, Washington, DC 20024-2101. (If you are deaf or hard 
of hearing, or have a speech disability, please dial 7-1-1 to access 
telecommunications relay services.)

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 e-filing portal. 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 400 controlled groups will submit filings under 
part 4010 each year. The total estimated annual hourly and cost burdens 
of the information collection are 800 hours and $11,080,000.
    The collection of information has been approved under OMB control 
number 1212-0049 (expires March 31, 2023). PBGC intends to request that 
OMB extend its approval, without modifications, for another 3 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.
    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, by:
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2022-24233 Filed 11-4-22; 8:45 am]
BILLING CODE 7709-02-P