[Federal Register Volume 64, Number 126 (Thursday, July 1, 1999)]
[Notices]
[Pages 35702-35703]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-16795]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collection for OMB Review;
Comment Request; Reportable Events
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intention to request extension of OMB approval.
-----------------------------------------------------------------------
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 the collection of
information under Part 4043 of its regulations relating to Reportable
Events (OMB control number 1212-0013; expires September 30, 1999). This
notice informs the public of the PBGC's intent and solicits public
comment on the collection of information.
DATES: Comments should be submitted by August 30, 1999.
ADDRESSES: Comments may be mailed to the Office of the General Counsel,
suite 340, Pension Benefit Guaranty Corporation, 1200 K Street, NW.,
Washington, DC 20005-4026, or delivered to that address between 9 a.m.
and 4 p.m. on business days. Written comments will be available for
public inspection at the PBGC's Communications and Public Affairs
Department, suite 240 at the same address, between 9 a.m. and 4 p.m. on
business days.
Copies of the collection of information may be obtained without
charge by writing to the PBGC's Communications and Public Affairs
Department at the address given above or calling 202-326-4040. (For TTY
and TDD users, call the Federal relay service toll-free at 1-800-877-
8339 and ask to be connected to 202-326-4040.) The reportable events
regulations, forms, and instructions may be accessed on the PBGC's web
site at http://www.pbgc.gov.
FOR FURTHER INFORMATION CONTACT: James L. Beller, Attorney, Office of
the General Counsel, Pension Benefit Guaranty Corporation, 1200 K
Street, NW., Washington, DC 20005-4026, 202-326-4024. (For TTY and TDD
users, call the Federal relay service toll-free at 1-800-877-8339 and
ask to be connected to 202-326-4040.)
SUPPLEMENTARY INFORMATION: Section 4043 of the Employee Retirement
Income Security Act of 1974 (ERISA) requires plan administrators and
plan sponsors to report certain plan and corporate events to the PBGC.
The reporting requirements give the PBGC timely notice of events that
indicate plan or employer financial problems. The PBGC uses the
information provided in determining what, if any, action it needs to
take. For example, the PBGC might need to institute proceedings to
terminate the plan (placing it in trusteeship) under section 4042 of
ERISA to ensure the continued payment of benefits to plan participants
and their beneficiaries or to prevent unreasonable increases in its
losses.
The collection of information under the regulation has been
approved through September 30, 1999, by OMB under control number 1212-
0013. The PBGC intends to request that OMB extend approval for another
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.
The PBGC estimates that it will receive 305 reportable event per
year under this collection of information. The PBGC further estimates
that the average annual burden of this collection of information is
1,249 hours and $187,350.
The PBGC is soliciting public comments to--
Evaluate whether the collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
Evaluate the accuracy of the agency's estimate of the
burden of the collection of information, including the validity of the
methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who
[[Page 35703]]
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, D.C., this 28th day of June, 1999.
Stuart Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit
Guaranty Corporation.
[FR Doc. 99-16795 Filed 6-30-99; 8:45 am]
BILLING CODE 7708-01-P