[Federal Register Volume 90, Number 94 (Friday, May 16, 2025)]
[Notices]
[Pages 21083-21084]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08730]
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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 Income Security Act of 1974
(ERISA). This notice informs the public of PBGC's request and solicits
public comment on the collection of information, as modified.
DATES: Comments must be submitted on or before June 16, 2025 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, 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. 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: 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, 2025). This notice informs the public of
PBGC's request 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 that cover, since September 2, 1974, no more than
25 active participants and 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's pilot program that specifically provided for a prospective
plan to request a coverage determination when the plan was proposed but
not yet established expired September 30, 2022. PBGC is removing
outdated references to the pilot program in question 4 of Part II of
the form and instructions. PBGC is also proposing to revise question 3
of Part III of the form, relating to substantial owners plans, to
require a list of all the limited liability company's (LLC) members (if
the employer sponsor is an LLC) rather than a statement on how the LLC
is treated for federal tax purposes for clarity. Lastly, PBGC is
proposing editorial changes to question 4 of part III and question 3 of
part V to provide greater clarity to filers.
The existing collection of information is approved through June 30,
2025, under OMB control number 1212-0072. On March 10, 2025, PBGC
published in the Federal Register (90 FR 11632) 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 approval of the collection for 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.
[[Page 21084]]
PBGC estimates that each year there will be 295 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
442.5 hours and $88,500.
Issued in Washington, DC.
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit
Guaranty Corporation.
[FR Doc. 2025-08730 Filed 5-15-25; 8:45 am]
BILLING CODE 7709-02-P