Notice2022-09895
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
May 9, 2022
Issuing agencies
Pension Benefit Guaranty Corporation
Abstract
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 Security Income Act of 1974.
Full Text
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<title>Federal Register, Volume 87 Issue 89 (Monday, May 9, 2022)</title>
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[Federal Register Volume 87, Number 89 (Monday, May 9, 2022)]
[Notices]
[Pages 27667-27668]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-09895]
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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 Security Income Act of 1974.
DATES: Comments must be submitted by June 8, 2022.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. A copy of
the request will be posted on PBGC's website at <a href="https://www.pbgc.gov/prac/laws-and-regulation/federal-register-notices-open-for-comment">https://www.pbgc.gov/prac/laws-and-regulation/federal-register-notices-open-for-comment</a>. It
may also be obtained without charge by writing to the Disclosure
Division of the Office of the General Counsel of PBGC, 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#9fedf6f9f4f6f1b1f2faf3f6ececfedfeffdf8fcb1f8f0e9"><span class="__cf_email__" data-cfemail="c9bba0afa2a0a7e7a4aca5a0babaa889b9abaeaae7aea6bf">[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) 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, 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 intends to make 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 plans 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 plans to amend
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). On March 1, 2022, PBGC
published in the Federal Register (at 87 FR 11492) a notice informing
the public of its intent to request approval of the revised collection
of information. PBGC did not receive any comments. 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
[[Page 27668]]
Issued in Washington, DC, by.
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension
Benefit Guaranty Corporation.
[FR Doc. 2022-09895 Filed 5-6-22; 8:45 am]
BILLING CODE 7709-02-P
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