Proposed Submission of Information Collection for OMB Review; Comment Request; Survey of Nonparticipating Single Premium Group Annuity Rates, 59377-59378 [05-20437]

Download as PDF Federal Register / Vol. 70, No. 196 / Wednesday, October 12, 2005 / Notices This meeting will be webcast live at the Web address—www.nrc.gov. schedule electronically, please send an electronic message to dkw@nrc.gov. Week of October 24, 2005—Tentative Dated: October 6, 2005. Debra L. McCain, Office of the Secretary. [FR Doc. 05–20494 Filed 10–7–05; 10:10 am] Wednesday, October 26, 2005 1:30 p.m.—Discussion of Security Issues (Closed–Ex.1). BILLING CODE 7590–01–M Thursday, October 27, 2005 10 a.m.—Discussion of Security Issues (Closed–Ex.1). Week of October 31, 2005—Tentative Tuesday, November 1, 2005 9:30 a.m.—Briefing on Implementation of Davis-Besse Lessons Learned Task Force (DBLLTF) Recommendations (Public Meeting) (Contact: Brendan Moroney, 301–415–3974). This meeting will be webcast live at the Web address—www.nrc.gov. Week of November 7, 2005—Tentative There are no meetings scheduled for the Week of November 7, 2005. Week of November 14, 2005—Tentative There are no meetings scheduled for the Week of November 14, 2005. The schedule for Commission meetings is subject to change on short notice. To verify the status of meetings call (recording)—(301) 415–1292. Contact person for more information: Michelle Schroll, (301) 415–1662. * * * * * The NRC Commission Meeting Schedule can be found on the Internet at: www.nrc.gov/what-we-do/policymaking/schedule.html * * * * * The NRC provides reasonable accommodation to individuals with disabilities where appropriate. If you need a reasonable accommodation to participate in these public meetings, or need this meeting notice or the transcript or other information from the public meetings in another format (e.g. braille, large print), please notify the NRC’s Disability Program Coordinator, August Spector, at 301–415–7080, TDD: 301–415–2100, or by e-mail at aks@nrc.gov. Determinations on requests for reasonable accommodation will be made on a case-by-case basis. * * * * * This notice is distributed by mail to several hundred subscribers; if you no longer wish to receive it, or would like to be added to the distribution, please contact the Office of the Secretary, Washington, DC 20555 (301–415–1969). In addition, distribution of this meeting notice over the Internet system is available. If you are interested in receiving this Commission meeting VerDate Aug<31>2005 19:48 Oct 11, 2005 Jkt 208001 PENSION BENEFIT GUARANTY CORPORATION Proposed Submission of Information Collection for OMB Review; Comment Request; Survey of Nonparticipating Single Premium Group Annuity Rates Pension Benefit Guaranty Corporation. ACTION: Notice of intention to request extension of OMB approval. AGENCY: 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 a collection of information that is not contained in a regulation (OMB control number 1212–0030; expires January 31, 2006). This voluntary collection of information is a quarterly survey of insurance company rates for pricing annuity contracts. The survey is conducted by the American Council of Life Insurers for the PBGC. 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 December 12, 2005. ADDRESSES: Comments may be mailed or delivered to the Legislative & Regulatory Department Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005–4026. Comments also may be submitted by email to paperwork.comments@pbgc.gov or by fax to 202–326–4112. The PBGC will make all comments available on its Web site www.pbgc.gov. Copies of the collection of information may be obtained without charge by writing to the PBGC’s Communications and Public Affairs Department at Suite 240 at the above address or by visiting that office or calling 202–326–4040 during normal business hours. (TTY and TDD users may call the Federal relay service tollfree at 1–800–877–8339 and ask to be connected to 202–326–4040.) FOR FURTHER INFORMATION CONTACT: Thomas H. Gabriel, Attorney, Legislative & Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005–4026, 202–326–4024. (TTY and PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 59377 TDD users may call the Federal relay service toll-free at 1–800–877–8339 and request connection to 202–326–4024). SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation’s regulations prescribe actuarial valuation methods and assumptions (including interest rate assumptions) to be used in determining the actuarial present value of benefits under single-employer plans that terminate (29 CFR Part 4044) and under multiemployer plans that undergo a mass withdrawal of contributing employers (29 CFR Part 4281). Each month the PBGC publishes the interest rates to be used under those regulations for plans terminating or undergoing mass withdrawal during the next month. The interest rates are intended to reflect current conditions in the annuity markets. To determine these interest rates, the PBGC gathers pricing data from insurance companies that are providing annuity contracts to terminating pension plans through a quarterly ‘‘Survey of Nonparticipating Single Premium Group Annuity Rates.’’ The survey is distributed by the American Council of Life Insurers and provides the PBGC with ‘‘blind’’ data (i.e., is conducted in such a way that the PBGC is unable to match responses with the companies that submitted them). The information from the survey is also used by the PBGC in determining the interest rates it uses to value benefits payable to participants and beneficiaries in PBGC-trusteed plans for purposes of the PBGC’s financial statements. The survey is directed at insurance companies that have volunteered to participate, most or all of which are members of the American Council of Life Insurers. The survey is conducted quarterly and will be sent to approximately 22 insurance companies. Based on experience under the current approval, the PBGC estimates that 11 insurance companies will complete and return the survey. The PBGC further estimates that the average annual burden of this collection of information is 41 hours and $110. The collection of information under the regulation has been approved by OMB under control number 1212–0030 through January 31, 2006. The PBGC intends to request that OMB extend its 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 is soliciting public comments to— • Evaluate whether the collection of information is necessary for the proper E:\FR\FM\12OCN1.SGM 12OCN1 59378 Federal Register / Vol. 70, No. 196 / Wednesday, October 12, 2005 / Notices 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 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. Dated in Washington, DC, this 4th day of October, 2005. Rick Hartt, Chief Technology Officer, Pension Benefit Guaranty Corporation. [FR Doc. 05–20437 Filed 10–11–05; 8:45 am] BILLING CODE 7708–01–P RAILROAD RETIREMENT BOARD Computer Matching and Privacy Protection Act of 1988; Notice of RRB and SSA Records Used in Computer Matching AGENCY: Railroad Retirement Board (RRB). Notice of Records Used in Computer Matching Programs; Notification to individuals who are railroad employees, or applicants and beneficiaries under the Railroad Retirement Act or who are applicants or beneficiaries under the Social Security Act. ACTION: SUMMARY: As required by the Computer Matching and Privacy Protection Act of 1988, RRB is issuing public notice of its use and intent to use, in ongoing computer matching programs, information obtained from the Social Security Administration (SSA) of the amount of wages reported to SSA and the amount of benefits paid by that agency. The RRB is also issuing public notice, on behalf of the Social Security Administration, of SSA’s use and intent to use, in ongoing computer matching programs, information obtained from the RRB of the amount of railroad earnings reported to the RRB. The purposes of this notice are (1) to advise individuals applying for or receiving benefits under the Railroad Retirement Act of the use made by RRB of this information obtained from SSA by means of a computer match and (2) VerDate Aug<31>2005 19:48 Oct 11, 2005 Jkt 208001 to advise individuals applying for or receiving benefits under the Social Security Act of the use made by SSA of this information obtained from RRB by means of a computer match. ADDRESSES: Interested parties may comment on this publication by writing to Ms. Beatrice Ezerski, Secretary to the Board, Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois 60611–2092. FOR FURTHER INFORMATION CONTACT: Ms. Lynn Harvey, Privacy Act Officer, Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois 60611– 2092, telephone number (312) 751– 4869. The Computer Matching and Privacy Protection Act of 1988, Pub. L. 100–503, requires a Federal agency participating in a computer matching program to publish a notice regarding the establishment of a matching program. The last notice for this matching program was published at 68 FR 10057 (March 3, 2003). Name of Participating Agencies: Social Security Administration and Railroad Retirement Board. Purpose of the Match: The RRB will, on a daily basis, obtain from SSA a record of the wages reported to SSA for persons who have applied for benefits under the Railroad Retirement Act and a record of the amount of benefits paid by that agency to persons who are receiving or have applied for benefits under the Railroad Retirement Act. The wage information is needed to compute the amount of the tier I annuity component provided by sections 3(a), 4(a) and 4(f) of the Railroad Retirement Act (45 U.S.C. 231b(a), 45 U.S.C. 231c(a) and 45 U.S.C. 231c(f). The benefit information is needed to adjust the tier I annuity component for the receipt of the Social Security benefit. This information is available from no other source. In addition, the RRB will receive from SSA the amount of certain social security benefits which the RRB pays on behalf of SSA. Section 7(b)(2) of the Railroad Retirement Act (45 U.S.C. 231f(b)(2)) provides that the RRB shall make the payment of certain social security benefits. The RRB also requires this information in order to adjust the amount of any annuity due to the receipt of a social security benefit. Section 10(a) of the Railroad Retirement Act (45 U.S.C. 231i(a)) permits the RRB to recover any overpayment from the accrual of social security benefits. This information is not available from any other source. SUPPLEMENTARY INFORMATION: PO 00000 Frm 00067 Fmt 4703 Sfmt 4703 Thirdly, the RRB will receive from SSA once a year a copy of SSA’s Master Benefit Record for earmarked RRB annuitants. Section 7(b)(7)) of the Railroad Retirement Act (45 U.S.C. 231f(b)(7) requires that SSA provide the requested information. The RRB needs this information to make the necessary cost-of-living computation quickly and accurately for those RRB annuitants who are also SSA beneficiaries. SSA will receive from RRB weekly RRB earnings information for all railroad employees. SSA will match the identifying information of the records furnished by the RRB against the identifying information contained in its Master Benefit Record and its Master Earnings File. If there is a match, SSA will use the RRB earnings to adjust the amount of Social Security benefits in its Annual Earnings Reappraisal Operation (AERO). This information is available from no other source. SSA will also receive from RRB on a daily basis RRB earnings information on selected individuals. The transfer of information may be initiated either by RRB or by SSA. SSA needs this information to determine eligibility to Social Security benefits and, if eligibility is met, to determine the benefit amount payable. Section 18 of the Railroad Retirement Act (45 U.S.C. 231q(2)) requires that earnings considered as compensation under the Railroad Retirement Act be considered as wages under the Social Security Act for the purposes of determining entitlement under the Social Security Act if the person has less than 10 years of railroad service or has 10 or more years of service but does not have a current connection with the railroad industry at the time of his/her death. Authority for Conducting the Match: Section 7(b)(7) of the Railroad Retirement Act (45 U.S.C. 231f(b)(7)) provides that the Social Security Administration shall supply information necessary to administer the Railroad Retirement Act. Sections 202, 205(o) and 215(f) of the Social Security Act (42 U.S.C. 402, 405(o) and 415(f) relate to benefit provisions, inclusion of railroad compensation together with wages for payment of benefits under certain circumstances, and the re-computation of benefits. Categories of Records and Individuals Covered: All applicants for benefits under the Railroad Retirement Act and current beneficiaries will have a record of any social security wages and the amount of any social security benefits furnished to the RRB by SSA. In addition, all persons who ever worked in the railroad industry after 1936 will E:\FR\FM\12OCN1.SGM 12OCN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 70, Number 196 (Wednesday, October 12, 2005)]
[Notices]
[Pages 59377-59378]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-20437]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Survey of Nonparticipating Single Premium Group 
Annuity Rates

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 a collection of 
information that is not contained in a regulation (OMB control number 
1212-0030; expires January 31, 2006). This voluntary collection of 
information is a quarterly survey of insurance company rates for 
pricing annuity contracts. The survey is conducted by the American 
Council of Life Insurers for the PBGC. 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 December 12, 2005.

ADDRESSES: Comments may be mailed or delivered to the Legislative & 
Regulatory Department Pension Benefit Guaranty Corporation, 1200 K 
Street, NW., Washington, DC 20005-4026. Comments also may be submitted 
by e-mail to paperwork.comments@pbgc.gov or by fax to 202-326-4112. The 
PBGC will make all comments available on its Web site www.pbgc.gov.
    Copies of the collection of information may be obtained without 
charge by writing to the PBGC's Communications and Public Affairs 
Department at Suite 240 at the above address or by visiting that office 
or calling 202-326-4040 during normal business hours. (TTY and TDD 
users may call the Federal relay service toll-free at 1-800-877-8339 
and ask to be connected to 202-326-4040.)

FOR FURTHER INFORMATION CONTACT: Thomas H. Gabriel, Attorney, 
Legislative & Regulatory Department, Pension Benefit Guaranty 
Corporation, 1200 K Street, NW., Washington, DC 20005-4026, 202-326-
4024. (TTY and TDD users may call the Federal relay service toll-free 
at 1-800-877-8339 and request connection to 202-326-4024).

SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation's 
regulations prescribe actuarial valuation methods and assumptions 
(including interest rate assumptions) to be used in determining the 
actuarial present value of benefits under single-employer plans that 
terminate (29 CFR Part 4044) and under multiemployer plans that undergo 
a mass withdrawal of contributing employers (29 CFR Part 4281). Each 
month the PBGC publishes the interest rates to be used under those 
regulations for plans terminating or undergoing mass withdrawal during 
the next month.
    The interest rates are intended to reflect current conditions in 
the annuity markets. To determine these interest rates, the PBGC 
gathers pricing data from insurance companies that are providing 
annuity contracts to terminating pension plans through a quarterly 
``Survey of Nonparticipating Single Premium Group Annuity Rates.'' The 
survey is distributed by the American Council of Life Insurers and 
provides the PBGC with ``blind'' data (i.e., is conducted in such a way 
that the PBGC is unable to match responses with the companies that 
submitted them). The information from the survey is also used by the 
PBGC in determining the interest rates it uses to value benefits 
payable to participants and beneficiaries in PBGC-trusteed plans for 
purposes of the PBGC's financial statements.
    The survey is directed at insurance companies that have volunteered 
to participate, most or all of which are members of the American 
Council of Life Insurers. The survey is conducted quarterly and will be 
sent to approximately 22 insurance companies. Based on experience under 
the current approval, the PBGC estimates that 11 insurance companies 
will complete and return the survey. The PBGC further estimates that 
the average annual burden of this collection of information is 41 hours 
and $110.
    The collection of information under the regulation has been 
approved by OMB under control number 1212-0030 through January 31, 
2006. The PBGC intends to request that OMB extend its 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 is soliciting public comments to--
     Evaluate whether the collection of information is 
necessary for the proper

[[Page 59378]]

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 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.

    Dated in Washington, DC, this 4th day of October, 2005.
Rick Hartt,
Chief Technology Officer, Pension Benefit Guaranty Corporation.
[FR Doc. 05-20437 Filed 10-11-05; 8:45 am]
BILLING CODE 7708-01-P

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