Notice2026-00289
Proposed Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations
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 12, 2026
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, under the Paperwork Reduction Act, of collections of information in PBGC's regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC's intent and solicits public comment on the collections of information.
Full Text
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<title>Federal Register, Volume 91 Issue 7 (Monday, January 12, 2026)</title>
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[Federal Register Volume 91, Number 7 (Monday, January 12, 2026)]
[Notices]
[Pages 1217-1219]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-00289]
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PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collections for OMB Review;
Comment Request; Multiemployer Plan Regulations
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intention to request extension of OMB approval of
information collections.
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SUMMARY: 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 collections of information in
PBGC's regulations on multiemployer plans under the Employee Retirement
Income Security Act of 1974 (ERISA). This notice informs the public of
PBGC's intent and solicits public comment on the collections of
information.
DATES: Comments must be received on or before March 13, 2026 to be
assured of consideration.
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#aedecfdecbdcd9c1dcc580cdc1c3c3cbc0daddeedeccc9cd80c9c1d8"><span class="__cf_email__" data-cfemail="4b3b2a3b2e393c24392065282426262e253f380b3b292c28652c243d">[email protected]</span></a>. Refer to refer to the
multiemployer information collection and corresponding OMB control
number in the subject line.
<bullet> Mail or Hand Delivery: Office of the General Counsel,
Pension Benefit Guaranty Corporation, 445 12th Street SW, Washington,
DC 20024-2101.
Commenters are strongly encouraged to submit public 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 the multiemployer
information collection and corresponding OMB control number. 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
(such as name, address, or other contact information) or confidential
business information that you do not want publicly disclosed. Comments
may be submitted anonymously.
Copies of the collections of information may also be obtained
without charge by writing to the Disclosure Division
(<a href="/cdn-cgi/l/email-protection#dfbbb6acbcb3b0acaaadba9fafbdb8bcf1b8b0a9"><span class="__cf_email__" data-cfemail="62060b11010e0d1117100722120005014c050d14">[email protected]</span></a>), Office of the General Counsel, Pension Benefit
Guaranty Corporation, 445 12th Street SW, Washington, DC 20024-2101, or
calling 202-326-4040 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#462922292828232a2a682b29282f2527063624212568212930"><span class="__cf_email__" data-cfemail="0e616a6160606b626220636160676d6f4e7e6c696d20696178">[email protected]</span></a>), Attorney, Office of the General Counsel,
Pension Benefit Guaranty Corporation, 445 12th Street SW, Washington,
DC 20024-2101; 202-229-5507. If you are deaf or hard of hearing, or
have a speech disability, please dial 711 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 the
collections of information in PBGC's regulations on multiemployer plans
under the Employee Retirement Income Security Act of 1974 (ERISA). This
notice informs the public of PBGC's intent and solicits public comment
on the collections of information.
The existing collections of information are approved through May
31, 2026, under each collection's respective OMB control number. PBGC
intends to request that OMB extend its approval of the collections of
information for 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 is soliciting public comments to--
<bullet> Evaluate whether the proposed collections of information
are 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 collections 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 collections 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.
Comments should identify the specific part number(s) of the
regulation(s) to which they relate.
1. Extension of Special Withdrawal Liability Rules (29 CFR Part 4203)
(OMB Control Number 1212-0023)
Sections 4203(f) and 4208(e)(3) of ERISA allow PBGC to permit a
multiemployer plan to adopt special rules for determining whether a
withdrawal from the plan has occurred, subject to PBGC approval.
The regulation specifies the information that a plan that adopts
special rules must submit to PBGC about the rules, the plan, and the
industry in which the plan operates. PBGC uses the information to
determine whether the rules are appropriate for the industry in which
the plan functions
[[Page 1218]]
and do not pose a significant risk to the insurance system.
PBGC estimates that over the next 3 years, at most one plan sponsor
will submit a request each year under this regulation. The estimated
annual burden of the collection of information is 4 hours and $15,000.
2. Variances for Sale of Assets (29 CFR Part 4204) (OMB Control Number
1212-0021)
If an employer's covered operations or contribution obligation
under a plan ceases, the employer must generally pay withdrawal
liability to the plan. Section 4204 of ERISA provides an exception,
under certain conditions, where the cessation results from a sale of
assets. Among other things, the buyer must furnish a bond or escrow,
and the sale contract must provide for secondary liability of the
seller.
The regulation establishes general variances (rules for avoiding
the bond/escrow and sale-contract requirements) and authorizes plans to
determine whether the variances apply in particular cases. It also
allows buyers and sellers to request individual variances from PBGC.
Plans and PBGC use the information to determine whether employers
qualify for variances.
PBGC estimates that over the next 3 years, 100 employers will
submit, and 100 plans will respond to, variance requests under the
regulation, and one employer submits a variance request to PBGC each
year. The estimated annual burden of the collection of information is
1,050 hours and $702,000.
3. Reduction or Waiver of Complete Withdrawal Liability (29 CFR Part
4207) (OMB Control Number 1212-0044)
Section 4207 of ERISA allows PBGC to provide for abatement of an
employer's complete withdrawal liability, and for plan adoption of
alternative abatement rules, where appropriate.
Under the regulation, an employer applies to a plan for an
abatement determination, providing information the plan needs to
determine whether withdrawal liability should be abated, and the plan
notifies the employer of its determination. The employer may, pending
plan action, furnish a bond or escrow instead of making withdrawal
liability payments, and must notify the plan if it does so. When the
plan then makes its determination, it must notify the bonding or escrow
agent.
The regulation also permits a plan to adopt its own abatement rules
and request PBGC approval. PBGC uses the information in such a request
to determine whether the amendment should be approved.
PBGC estimates that each year over the next 3 years, at most one
employer will submit, and one plan will respond to an application for
abatement of complete withdrawal liability, and no plan sponsors will
request approval of plan abatement rules from PBGC. The estimated
annual burden of the collection of information is 0.5 hours and $1,000.
4. Reduction or Waiver of Partial Withdrawal Liability (29 CFR Part
4208) (OMB Control Number 1212-0039)
Section 4208 of ERISA provides for abatement, in certain
circumstances, of an employer's partial withdrawal liability and
authorizes PBGC to issue additional partial withdrawal liability
abatement rules.
Under the regulation, an employer applies to a plan for an
abatement determination, providing information the plan needs to
determine whether withdrawal liability should be abated, and the plan
notifies the employer of its determination. The employer may, pending
plan action, furnish a bond or escrow instead of making withdrawal
liability payments, and must notify the plan if it does so. When the
plan then makes its determination, it must notify the bonding or escrow
agent.
The regulation also permits a plan to adopt its own abatement rules
and request PBGC approval. PBGC uses the information in such a request
to determine whether the amendment should be approved.
PBGC estimates that each year over the next 3 years, at most one
employer will submit, and one plan will respond to an application for
abatement of partial withdrawal liability, and no plan sponsors will
request approval of plan abatement rules from PBGC. The estimated
annual burden of the collection of information is 0.50 hours and
$1,000.
5. Allocating Unfunded Vested Benefits to Withdrawing Employers (29 CFR
Part 4211) (OMB Control Number 1212-0035)
Section 4211(c)(5)(A) of ERISA requires PBGC to prescribe how plans
can, with PBGC approval, change the way they allocate unfunded vested
benefits to withdrawing employers for purposes of calculating
withdrawal liability.
The regulation prescribes the information that must be submitted to
PBGC by a plan seeking such approval. PBGC uses the information to
determine how the amendment changes the way the plan allocates unfunded
vested benefits and how the amendment will affect the risk of loss to
plan participants and PBGC.
PBGC estimates that each year over the next 3 years, 10 plan
sponsors will submit approval requests under this regulation. The
estimated annual burden of the collection of information is 200 hours
and $200,000.
6. Notice, Collection, and Redetermination of Withdrawal Liability (29
CFR Part 4219) (OMB Control Number 1212-0034)
Section 4219(c)(1)(D) of ERISA requires that PBGC prescribe
regulations for the allocation of a plan's total unfunded vested
benefits in the event of a ``mass withdrawal.'' Section 4209(c) of
ERISA deals with an employer's liability for de minimis amounts if the
employer withdraws in a ``substantial withdrawal.''
The reporting requirements in the regulation give employers notice
of a mass withdrawal or substantial withdrawal and advise them of their
rights and liabilities. They also provide notice to PBGC so that it can
monitor the plan, and they help PBGC assess the possible impact of a
withdrawal event on participants and the multiemployer plan insurance
program.
PBGC estimates that over the next 3 years, there will be two mass
withdrawals and one substantial withdrawal per year. The plan sponsor
of a plan subject to a withdrawal covered by the regulation provides
notices of the withdrawal to PBGC and to employers covered by the plan,
liability assessments to the employers, and a certification to PBGC
that assessments have been made. For a mass withdrawal, there are two
assessments and two certifications that deal with two different types
of liability. For a substantial withdrawal, there is one assessment and
one certification (combined with the withdrawal notice to PBGC). The
estimated annual burden of the collection of information is 15 hours
and $49,500.
7. Procedures for PBGC Approval of Plan Amendments (29 CFR Part 4220)
(OMB Control Number 1212-0031)
Under section 4220 of ERISA, a plan may, within certain limits,
adopt special plan rules regarding when a withdrawal from the plan
occurs and how the withdrawing employer's withdrawal liability is
determined. Any such special rule is effective only if, within 90 days
after receiving notice and a copy of the rule, PBGC either approves or
fails to disapprove the rule.
[[Page 1219]]
The regulation provides rules for requesting PBGC's approval of an
amendment. PBGC needs the required information to identify the plan;
evaluate the risk of loss, if any, posed by the plan amendment; and
determine whether to approve or disapprove the amendment.
PBGC estimates that each year over the next 3 years, at most one
plan sponsor will submit an approval request under this regulation. The
estimated annual burden of the collection of information is 2 hours and
$8,000.
Joseph Krettek,
Assistant General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2026-00289 Filed 1-9-26; 8:45 am]
BILLING CODE 7709-02-P
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