Notice2024-02518
Proposed Submission of Information Collection for OMB Review; Comment Request; Locating and Paying Participants
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
February 8, 2024
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 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.
Full Text
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<title>Federal Register, Volume 89 Issue 27 (Thursday, February 8, 2024)</title>
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[Federal Register Volume 89, Number 27 (Thursday, February 8, 2024)]
[Notices]
[Pages 8725-8726]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-02518]
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PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collection for OMB Review;
Comment Request; Locating and Paying Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intent to request extension of OMB approval of an
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
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 April 8, 2024 to be
assured of consideration.
[[Page 8726]]
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 instructions for submitting comments.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#601001100512170f120b4e030f0d0d050e141320100207034e070f16"><span class="__cf_email__" data-cfemail="a3d3c2d3c6d1d4ccd1c88dc0cccecec6cdd7d0e3d3c1c4c08dc4ccd5">[email protected]</span></a>. Refer to Locating and
Paying Participants in the subject line.
<bullet> Mail or Hand Delivery: Regulatory Affairs Division, Office
of the General Counsel, Pension Benefit Guaranty Corporation, 445 12th
Street SW, Washington, DC 20024-2101.
Commenters are strongly encouraged to submit comments
electronically. Commenters who submit comments on paper by mail should
allow sufficient time for mailed comments to be received before the
close of the comment period.
All submissions received must include the agency's name (Pension
Benefit Guaranty Corporation, or PBGC) and refer to Locating and Paying
Participants. 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.
Copies of the collection of information may be obtained without
charge by writing to the Disclosure Division, (<a href="/cdn-cgi/l/email-protection#40242933232c2f3335322500302227236e272f36"><span class="__cf_email__" data-cfemail="04606d7767686b7771766144746663672a636b72">[email protected]</span></a>),
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
(<a href="/cdn-cgi/l/email-protection#f29d969d9c9c979e9edc9f9d9c9b9193b282909591dc959d84"><span class="__cf_email__" data-cfemail="670803080909020b0b490a08090e0406271705000449000811">[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; 202-229-8706; or Gregory
Katz (<a href="/cdn-cgi/l/email-protection#204b41545a0e475245474f525960504247430e474f56"><span class="__cf_email__" data-cfemail="650e04111f4b021700020a171c25150702064b020a13">[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; 202-229-3829. 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, <a href="http://www.pbgc.gov">http://www.pbgc.gov</a>, 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 three new forms: Form 713RBD,
Form 714RBD, and Form 721RBD. 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. Form
721RBD relates to elections of single payments for non-spouse
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. PBGC intends to request
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
101,571 hours and an estimated $60,742 (the estimated cost of notary
services for signatures (including spousal consents) required on
applicable forms).
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.
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension
Benefit Guaranty Corporation.
[FR Doc. 2024-02518 Filed 2-7-24; 8:45 am]
BILLING CODE 7709-02-P
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