[Federal Register Volume 89, Number 27 (Thursday, February 8, 2024)]
[Notices]
[Pages 8725-8726]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-02518]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Locating and Paying Participants

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intent to request extension of OMB approval of an 
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 
of a collection of information (OMB Control Number 1212-0055; expires 
August 31, 2024) under the Paperwork Reduction Act. The purpose of the 
information collection is to enable PBGC to pay benefits to 
participants and beneficiaries. This notice informs the public of 
PBGC's request and solicits public comment on the collection.

DATES: Comments must be received on or before April 8, 2024 to be 
assured of consideration.

[[Page 8726]]


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]. Refer to Locating and 
Paying Participants 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 comments 
electronically. Commenters who submit comments on paper by mail should 
allow sufficient time for mailed comments to be received before the 
close of the comment period.
    All submissions received must include the agency's name (Pension 
Benefit Guaranty Corporation, or PBGC) and refer to Locating and Paying 
Participants. 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.
    Copies of the collection of information may be obtained without 
charge by writing to the Disclosure Division, ([email protected]), 
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: Monica O'Donnell 
([email protected]), Attorney, Regulatory Affairs Division, 
Office of the General Counsel, Pension Benefit Guaranty Corporation, 
445 12th Street SW, Washington, DC 20024-2101; 202-229-8706; or Gregory 
Katz ([email protected]), Attorney, Regulatory Affairs Division, 
Office of the General Counsel, Pension Benefit Guaranty Corporation, 
445 12th Street SW, Washington, DC 20024-2101; 202-229-3829. 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: This information collection is needed to pay 
participants and beneficiaries who may be entitled to pension benefits 
from plans that have terminated. Participants and beneficiaries are 
asked to provide information in connection with an application for 
benefits. This includes requests to individuals to provide identifying 
information so that PBGC may determine whether the individuals are 
entitled to benefits. All requested information is needed so that PBGC 
may determine benefit entitlements and make appropriate payments.
    This information collection includes My Pension Benefit Account 
(MyPBA), an application on PBGC's website, http://www.pbgc.gov, through 
which plan participants and beneficiaries may conduct electronic 
transactions with PBGC, including applying for pension benefits, 
designating a beneficiary, changing contact information, and applying 
for or changing electronic direct deposit.
    PBGC is proposing the addition of three new forms: Form 713RBD, 
Form 714RBD, and Form 721RBD. Form 713RBD and Form 714RBD relate to 
elections to withdraw employee contributions for participants and 
beneficiaries who are at or beyond their Required Beginning Dates. Form 
721RBD relates to elections of single payments for non-spouse 
beneficiaries who are at or beyond their Required Beginning Dates. PBGC 
is proposing to remove Form 718, ``Installment Payment Agreement,'' 
because PBGC no longer administers installment agreements for benefit 
overpayments. PBGC is proposing to remove Form 719 for electing or 
changing tax withholding from annuity benefit payments since 
participants are using Internal Revenue Service (IRS) Form W-4P, 
``Withholding Certificate for Periodic Pension or Annuity Payments.'' 
PBGC is also making other clarifying, editorial, and formatting 
changes.
    The existing collection of information was approved through August 
31, 2024, under OMB control number 1212-0055. PBGC intends to request 
that OMB extend its approval (with modifications) for 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.
    PBGC estimates that it will receive a combined 136,081 benefit 
applications and information forms annually. The total annual burden 
associated with this collection of information is estimated to be 
101,571 hours and an estimated $60,742 (the estimated cost of notary 
services for signatures (including spousal consents) required on 
applicable forms).
    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. 2024-02518 Filed 2-7-24; 8:45 am]
BILLING CODE 7709-02-P