[Federal Register Volume 64, Number 105 (Wednesday, June 2, 1999)]
[Notices]
[Page 29722]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-13926]
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PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collection for OMB Review
Under the Paperwork Reduction Act; Comment Request; Locating and Paying
Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intention to request OMB approval.
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SUMMARY: The Pension Benefit Guaranty Corporation intends to request
that the Office of Management and Budget extend its approval of a
collection of information under the Paperwork Reduction Act, with
revisions. The information collection is used by the PBGC to pay
benefits to participants and beneficiaries in plans covered by the PBGC
insurance program. The revisions are to PBGC forms and instructions
related to benefit payments.
ADDRESSES: All written comments should be addressed to: Office of the
General Counsel, Pension Benefit Guaranty Corporation, Suite 340, 1200
K St., NW., Washington, DC 20005. The comments will be available for
public inspection at the PBGC Communications and Public Affairs
Department, Suite 240, 1200 K Street, NW., Washington, DC 20005-4026,
between the hours of 9 a.m. and 4 p.m. A copy of the proposed
collection can be obtained, without charge, by writing to the PBGC at
the above address.
DATES: Comments should be received by August 3, 1999.
FOR FURTHER INFORMATION CONTACT: Marc L. Jordan, Attorney, Office of
the General Counsel, Suite 340, 1200 K Street, NW., Washington, DC
20005, 202-326-4024. (For TTY/TDD users, call the Federal relay service
toll-free at 1-800-877-8339 and ask to be connected to 202-326-4024.
SUPPLEMENTARY INFORMATION: 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.
The PBGC intends to request that OMB extend its approval of a
collection of information needed to pay participants and beneficiaries
who may be entitled to pension benefits under a defined benefit plan
that has terminated (OMB Control No. 1212-0055; expires June 30, 2000).
The collection consists of information participants and beneficiaries
are asked to provide in connection with an application for benefits. In
addition, in some instances, as part of a search for participants and
beneficiaries who may be entitled to benefits, the PBGC requests
individuals to provide identifying information as part of an initial
contact with the PBGC. All requested information is needed to enable
the PBGC to determine benefit entitlements and to make appropriate
payments.
The PBGC intends to request that OMB approve revisions to the forms
and instructions. The revisions simplify language and incorporate
regulatory changes. The PBGC does not anticipate a change in burden
hours currently approved as a result of these revisions.
The PBGC estimates that it will request that 71,250 individuals
submit identifying applications for benefits and that the associated
burden is 30,875 hours (an average of slightly less than 30 minutes per
individual). The PBGC further estimates that 5,000 individuals will
provide the PBGC with identifying information as part of an initial
contact and that the associated burden is 1,250 hours (15 minutes per
individual). The average annual postage cost is approximately $24,400.
Thus, the total estimated burden associated with this collection of
information is approximately 32,125 hours and $24,400.
The PBGC solicits comments to:
(i) 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;
(ii) Evaluate the accuracy of the agency's estimate of the burden
of the proposed collection of information, including the validity of
the methodology and assumptions used;
(iii) Enhance the quality, utility, and clarity of the information
to be collected; and
(iv) 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 at Washington, DC, this 26th day of May, 1999.
Stuart A. Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit
Guaranty Corporation.
[FR Doc. 99-13926 Filed 6-1-99; 8:45 am]
BILLING CODE 7708-01-M