Notice2023-00691
Submission of Information Collection for OMB Review; Comment Request; Annual Financial and Actuarial Information Reporting
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
January 17, 2023
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, without modifications, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Annual Financial and Actuarial Information Reporting. This notice informs the public of PBGC's request and solicits public comment on the collection.
Full Text
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<title>Federal Register, Volume 88 Issue 10 (Tuesday, January 17, 2023)</title>
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[Federal Register Volume 88, Number 10 (Tuesday, January 17, 2023)]
[Notices]
[Pages 2646-2647]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-00691]
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PENSION BENEFIT GUARANTY CORPORATION
Submission of Information Collection for OMB Review; Comment
Request; Annual Financial and Actuarial Information Reporting
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, without
modifications, under the Paperwork Reduction Act, of a collection of
information contained in its regulation on Annual Financial and
Actuarial Information Reporting. This notice informs the public of
PBGC's request and solicits public comment on the collection.
DATES: Comments must be submitted on or before February 16, 2023.
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. 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. 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 <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, 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.
[[Page 2647]]
FOR FURTHER INFORMATION CONTACT: Melissa Rifkin
(<a href="/cdn-cgi/l/email-protection#087a616e63616626656d64617b7b6948786a6f6b266f677e"><span class="__cf_email__" data-cfemail="e99b808f828087c7848c85809a9a88a9998b8e8ac78e869f">[email protected]</span></a>), Attorney, Regulatory Affairs Division,
Office of the General Counsel, Pension Benefit Guaranty Corporation,
445 12th Street SW, Washington, DC 20024-2101, 202-229-6563. 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: Section 4010 of the Employee Retirement
Income Security Act of 1974 (ERISA) and PBGC's regulation on Annual
Financial and Actuarial Information Reporting (29 CFR part 4010)
require each member of a controlled group to submit financial and
actuarial information to PBGC under certain circumstances. Section 4010
specifies that each controlled group member must provide PBGC with
certain financial information, including audited (if available) or (if
not) unaudited financial statements. Section 4010 also specifies that
the controlled group must provide PBGC with certain actuarial
information necessary to determine the liabilities and assets for all
PBGC-covered plans.
PBGC's 4010 regulation specifies the items of identifying,
financial, and actuarial information that filers must submit under
section 4010, through PBGC's e-filing portal. Computer-assisted
analysis of this information helps PBGC to anticipate possible major
demands on the pension insurance system and to focus PBGC resources on
situations that pose the greatest risks to that system. Because other
sources of information are usually not as current as the section 4010
information and do not reflect a plan's termination liability, the
section 4010 filing plays a major role in PBGC's ability to protect
participant and premium-payer interests.
The collection of information has been approved under OMB control
number 1212-0049 (expires March 31, 2023). On November 7, 2022, PBGC
published in the Federal Register a notice at 87 FR 67078 informing the
public of its intent to request an extension of this collection of
information and solicited public comment. No comments were received.
PBGC intends to request that OMB extend its approval, without
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 400 controlled groups will submit filings under
part 4010 each year. The total estimated annual hourly and cost burdens
of the information collection are 800 hours and $11,080,000.
Issued in Washington, DC, by
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension
Benefit Guaranty Corporation.
[FR Doc. 2023-00691 Filed 1-13-23; 8:45 am]
BILLING CODE 7709-02-P
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