[Federal Register Volume 88, Number 10 (Tuesday, January 17, 2023)]
[Notices]
[Pages 2646-2647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00691]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Annual Financial and Actuarial Information Reporting

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, 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 request and solicits public comment on the collection.

DATES: Comments must be submitted on or before February 16, 2023.

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. All 
comments received will be posted without change to PBGC's website, 
http://www.pbgc.gov, including any personal information provided. Do 
not submit comments that include any personally identifiable 
information or confidential business information.
    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, 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.

[[Page 2647]]


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, 202-229-6563. 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.
    The collection of information has been approved under OMB control 
number 1212-0049 (expires March 31, 2023). On November 7, 2022, PBGC 
published in the Federal Register a notice at 87 FR 67078 informing the 
public of its intent to request an extension of this collection of 
information and solicited public comment. No comments were received. 
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 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.

    Issued in Washington, DC, by
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension 
Benefit Guaranty Corporation.
[FR Doc. 2023-00691 Filed 1-13-23; 8:45 am]
BILLING CODE 7709-02-P