[Federal Register Volume 89, Number 98 (Monday, May 20, 2024)]
[Notices]
[Pages 43881-43882]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-10969]


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PENSION BENEFIT GUARANTY CORPORATION


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

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval of an 
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 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 June 20, 2024 to be 
assured of consideration.

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, 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 
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 ([email protected]), 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.

FOR FURTHER INFORMATION CONTACT: Monica O'Donnell 
([email protected]), Attorney, Regulatory Affairs

[[Page 43882]]

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, 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 two new forms: Form 713RBD, and 
Form 714RBD. 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. 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. On February 8, 2024, PBGC 
published in the Federal Register (at 89 FR 8725) a notice informing 
the public of its intent to request an extension of this collection of 
information. No comments were received. PBGC is requesting 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 
101,703 hours and an estimated $60,742 (the estimated cost of notary 
services for signatures (including spousal consents) required on 
applicable forms).

    Issued in Washington, DC.
Gregory Katz,
Deputy Assistant General Counsel for Regulatory Affairs, Pension 
Benefit Guaranty Corporation.
[FR Doc. 2024-10969 Filed 5-17-24; 8:45 am]
BILLING CODE 7709-02-P