Notice2022-04289
Proposed Submission of Information Collection for OMB Review; Comment Request; Request for Coverage Determination Form
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 1, 2022
Issuing agencies
Pension Benefit Guaranty Corporation
Abstract
The Pension Benefit Guaranty Corporation (PBGC) intends to request 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 Security Income Act of 1974. This notice informs the public of PBGC's intent and solicits public comment on the collection of information, as modified.
Full Text
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<title>Federal Register, Volume 87 Issue 40 (Tuesday, March 1, 2022)</title>
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[Federal Register Volume 87, Number 40 (Tuesday, March 1, 2022)]
[Notices]
[Pages 11492-11493]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-04289]
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PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collection for OMB Review;
Comment Request; Request for Coverage Determination Form
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intent to request extension of OMB approval of
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,
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 Security Income Act
of 1974. This notice informs the public of PBGC's intent and solicits
public comment on the collection of information, as modified.
DATES: Comments must be submitted on or before May 2, 2022.
ADDRESSES: Comments may be submitted by any of the following methods:
<bullet> Federal eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>.
Follow the online instructions for submitting comments.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#116170617463667e637a3f727e7c7c747f656251617376723f767e67"><span class="__cf_email__" data-cfemail="542435243126233b263f7a373b3939313a202714243633377a333b22">[email protected]</span></a>. Refer to OMB control
number 1212-0072 in the subject line.
<bullet> Mail or Hand Delivery: Regulatory Affairs Division, Office
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K
Street NW, Washington, DC 20005-4026.
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
1212-0072. All comments received will be posted without change to
PBGC's website, <a href="http://www.pbgc.gov">http://www.pbgc.gov</a>, including any personal information
provided. Commenters should not include any
[[Page 11493]]
information for which disclosure is restricted by statute, such as
trade secrets and commercial or financial information (``confidential
business information''). Submission of confidential business
information without a request for protected treatment constitutes a
waiver of any claims of confidentiality.
Copies of the collection of information may be obtained by writing
to Disclosure Division, Office of the General Counsel, Pension Benefit
Guaranty Corporation, 1200 K Street NW, Washington, DC 20005-4026, or
calling 202-229-4040 during normal business hours. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
FOR FURTHER INFORMATION CONTACT: Melissa Rifkin
(<a href="/cdn-cgi/l/email-protection#b9cbd0dfd2d0d797d4dcd5d0cacad8f9c9dbdeda97ded6cf"><span class="__cf_email__" data-cfemail="47352e212c2e29692a222b2e343426073725202469202831">[email protected]</span></a>), Attorney, Regulatory Affairs Division,
Office of the General Counsel, Pension Benefit Guaranty Corporation,
1200 K Street NW, Washington DC 20005-4026; 202-229-6563. (If you are
deaf, 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) intends to request 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, 2022). This notice informs
the public of PBGC's intent 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 covering, since September 2, 1974, no more than
25 active participants 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 is proposing editorial and formatting changes to question 1
and 2 of Part II of the form. These revisions are intended to provide
greater clarity to filers. In addition, PBGC is proposing to add a new
question to Part II inquiring about the number of eligible participants
with no accrued benefit. This addition is intended to garner a more
accurate count of a plan's participants. Finally, PBGC is amending
Question 4 of Part III applicable to a plan seeking a determination as
a substantial owners plan. Under the amendment, a plan will need to
provide the dates when participants separated from service, in addition
to dates and amounts of payment to them. This addition is intended to
allow PBGC to properly count payees who may still be participants in a
plan even after distributions have occurred.
The collection of information has been approved under OMB control
number 1212-0072 (expires June 31, 2022). PBGC intends to request that
OMB extend its approval, with 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 each year there will be 310 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
465 hours and $93,000.
PBGC is soliciting public comments to--
<bullet> 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;
<bullet> 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;
<bullet> Enhance the quality, utility, and clarity of the
information to be collected; and
<bullet> 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. 2022-04289 Filed 2-28-22; 8:45 am]
BILLING CODE 7709-02-P
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