Notice2026-07832
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
April 22, 2026
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, 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 request and solicits public comment on the collections of information.
Full Text
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<title>Federal Register, Volume 91 Issue 77 (Wednesday, April 22, 2026)</title>
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[Federal Register Volume 91, Number 77 (Wednesday, April 22, 2026)]
[Notices]
[Pages 21519-21521]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-07832]
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PENSION BENEFIT GUARANTY CORPORATION
Submission of Information Collections for OMB Review; Comment
Request; Multiemployer Plan Regulations
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of request for extension of OMB approval of information
collections.
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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting
that the Office of Management and Budget (OMB) extend approval, under
the Paperwork Reduction Act, of collections of information in PBGC's
regulations on
[[Page 21520]]
multiemployer plans under the Employee Retirement Income Security Act
of 1974 (ERISA). This notice informs the public of PBGC's request and
solicits public comment on the collections of information.
DATES: Comments must be received on or before May 22, 2026 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collections 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 these particular
information collections 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
(such as name, address, or other contact information) or confidential
business information that you do not want publicly disclosed. Comments
may be submitted anonymously.
A copy of the request will be posted on PBGC's website at
<a href="http://www.pbgc.gov/employers-practitioners/federal-register">www.pbgc.gov/employers-practitioners/federal-register</a>. It may also be
obtained without charge by writing to the Disclosure Division
(<a href="/cdn-cgi/l/email-protection#c9ada0baaaa5a6babcbbac89b9abaeaae7aea6bf"><span class="__cf_email__" data-cfemail="73171a00101f1c0006011633031114105d141c05">[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#97f8f3f8f9f9f2fbfbb9faf8f9fef4f6d7e7f5f0f4b9f0f8e1"><span class="__cf_email__" data-cfemail="89e6ede6e7e7ece5e5a7e4e6e7e0eae8c9f9ebeeeaa7eee6ff">[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: OMB has approved and issued control numbers
for seven collections of information in PBGC's regulations relating to
multiemployer plans. These collections of information are described
below. OMB approvals for these collections of information expire May
31, 2026. On January 12, 2026, PBGC published in the Federal Register
(at 91 FR 1217) a notice informing the public of its intent to request
an extension of these collections of information. No comments were
received in response to this notice. PBGC is requesting that OMB extend
its approval of these 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.
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 and do not pose a significant risk to the insurance
system.
PBGC estimates that each year over the next 3 years, at most one
plan sponsor submits 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 each year over the next 3
years, 100 employers submit, and 100 plans respond to, variance
requests under the regulation, and 1 employer submits a variance
request to PBGC. 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 1
employer will submit and 1 plan will respond to an application for
abatement of complete withdrawal liability, and no plan sponsors
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.
[[Page 21521]]
PBGC estimates that each year over the next 3 years, at most 1
employer will submit and 1 plan will respond to an application for
abatement of partial withdrawal liability, and no plan sponsors 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 each year over the next 3 years, there will be
2 mass withdrawals and 1 substantial withdrawal. 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 2
assessments and 2 certifications that deal with 2 different types of
liability. For a substantial withdrawal, there is 1 assessment and 1
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. 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 1 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 dollars.
Joseph Krettek,
Assistant General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2026-07832 Filed 4-21-26; 8:45 am]
BILLING CODE 7709-02-P
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