Notice2024-10969
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
May 20, 2024
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 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
<html>
<head>
<title>Federal Register, Volume 89 Issue 98 (Monday, May 20, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 98 (Monday, May 20, 2024)]
[Notices]
[Pages 43881-43882]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-10969]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
Submission of Information Collection for OMB Review; Comment
Request; Locating and Paying Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of request for extension of OMB approval of an
information collection.
-----------------------------------------------------------------------
SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting
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 June 20, 2024 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 <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">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="http://www.pbgc.gov/prac/laws-and-regulation/federal-register-notices-open-for-comment">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 (<a href="/cdn-cgi/l/email-protection#4c28253f2f20233f393e290c3c2e2b2f622b233a"><span class="__cf_email__" data-cfemail="23474a50404f4c5056514663534144400d444c55">[email protected]</span></a>), 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.
FOR FURTHER INFORMATION CONTACT: Monica O'Donnell
(<a href="/cdn-cgi/l/email-protection#e48b808b8a8a818888ca898b8a8d8785a494868387ca838b92"><span class="__cf_email__" data-cfemail="402f242f2e2e252c2c6e2d2f2e29232100302227236e272f36">[email protected]</span></a>), Attorney, Regulatory Affairs
[[Page 43882]]
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#8ae1ebfef0a4edf8efede5f8f3cafae8ede9a4ede5fc"><span class="__cf_email__" data-cfemail="d7bcb6a3adf9b0a5b2b0b8a5ae97a7b5b0b4f9b0b8a1">[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">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 two new forms: Form 713RBD, and
Form 714RBD. 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. 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. On February 8, 2024, PBGC
published in the Federal Register (at 89 FR 8725) 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 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
101,703 hours and an estimated $60,742 (the estimated cost of notary
services for signatures (including spousal consents) required on
applicable forms).
Issued in Washington, DC.
Gregory Katz,
Deputy Assistant General Counsel for Regulatory Affairs, Pension
Benefit Guaranty Corporation.
[FR Doc. 2024-10969 Filed 5-17-24; 8:45 am]
BILLING CODE 7709-02-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on May 20, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.