[Federal Register Volume 66, Number 189 (Friday, September 28, 2001)]
[Notices]
[Page 49725]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-24372]
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PENSION BENEFIT GUARANTY CORPORATION
Submission of Information Collection for OMB Review; Comment
Request; Disclosure to Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of request for extension of OMB approval.
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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 a collection of
information in its regulation on Disclosure to Participants (29 CFR
Part 4011) (OMB control number 1212-0050). This notice informs the
public of the PBGC's request and solicits public comment on the
collection of information.
DATES: Comments should be submitted by October 29, 2001.
ADDRESSES: Comments should be mailed to the Office of Information and
Regulatory Affairs of the Office of Management and Budget, Attention:
Desk Officer for Pension Benefit Guaranty Corporation, Washington, DC
20503. Copies of the request for extension (including the collection of
information) may be obtained without charge by writing to or visiting
the PBGC's Communications and Public Affairs Department, suite 240,
1200 K Street, NW., Washington, DC 20005-4026, or calling 202-326-4040.
(TTY and TDD users may call 800-877-8339 and request connection to 202-
326-4040). The regulation on Disclosure to Participants can be accessed
on the PBGC's Web site at http://www.pbgc.gov.
FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, 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,
call 800-877-8339 and request connection to 202-326-4024).
SUPPLEMENTARY INFORMATION: Section 4011 of the Employee Retirement
Income Security Act of 1974 requires plan administrators of certain
underfunded single-employer pension plans to provide an annual notice
to plan participants and beneficiaries of the plan's funding status and
the limits on the PBGC's guarantee.
The PBGC's regulation implementing this provision (29 CFR Part
4011) prescribes which plans are subject to the notice requirement, who
is entitled to receive the notice, and the time, form, and manner of
issuance of the notice. The notice provides recipients with meaningful,
understandable, and timely information that will help them become
better informed about their plans and assist them in their financial
planning.
The collection of information under the regulation has been
approved by OMB under control number 1212-0050 (expires October 31,
2001). The PBGC is requesting that OMB extend its approval 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.
The PBGC estimates that an average of 3,331 plans per year will
respond to this collection of information. The PBGC further estimates
that the average annual burden of this collection of information is
2.13 hours and $107 per plan, with an average total annual burden of
7,102 hours and $355,200.
Issued in Washington, DC, this 24th day of September, 2001.
Stuart A. Sirkin,
Director, Corporate Policy and Research Department.
[FR Doc. 01-24372 Filed 9-27-01; 8:45 am]
BILLING CODE 7708-01-P