Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums, 1517-1518 [2015-00253]

Download as PDF tkelley on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 80, No. 7 / Monday, January 12, 2015 / Notices and/or suggestions can also be directed to the Office of Management and Budget, Office of Information and Regulatory Affairs, Attention Department of Justice Desk Officer, Washington, DC 20530 or sent to OIRA_ submissions@omb.eop.gov. SUPPLEMENTARY INFORMATION: Title: Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery. Abstract: The information collection activity will garner qualitative customer and stakeholder feedback in an efficient, timely manner, in accordance with the Administration’s commitment to improving service delivery. By qualitative feedback we mean information that provides useful insights on perceptions and opinions, but are not statistical surveys that yield quantitative results that can be generalized to the population of study. This feedback will provide insights into customer or stakeholder perceptions, experiences and expectations, provide an early warning of issues with service, or focus attention on areas where communication, training or changes in operations might improve delivery of products or services. These collections will allow for ongoing, collaborative and actionable communications between the Agency and its customers and stakeholders. It will also allow feedback to contribute directly to the improvement of program management. Feedback collected under this generic clearance will provide useful information, but it will not yield data that can be generalized to the overall population. This type of generic clearance for qualitative information will not be used for quantitative information collections that are designed to yield reliably actionable results, such as monitoring trends over time or documenting program performance. Such data uses require more rigorous designs that address: the target population to which generalizations will be made, the sampling frame, the sample design (including stratification and clustering), the precision requirements or power calculations that justify the proposed sample size, the expected response rate, methods for assessing potential nonresponse bias, the protocols for data collection, and any testing procedures that were or will be undertaken prior fielding the study. Depending on the degree of influence the results are likely to have, such collections may still be eligible for submission for other generic mechanisms that are designed to yield quantitative results. The Agency received no comments in response to the 60-day notice published VerDate Sep<11>2014 17:35 Jan 09, 2015 Jkt 235001 in the Federal Register of Volume 79, Number 214, page 65701–65702, on November 5, 2014, allowing for a 60 day comment period. Below we provide Federal Bureau of Investigation’s projected average estimates for the next three years: 1 Current Actions: New collection of information. Type of Review: New Collection. Affected Public: Individuals and Households, Businesses and Organizations, State, Local or Tribal Government. Average Expected Annual Number of Activities: 2. Respondents: 2,000. Annual Responses: 4,000. Frequency of Response: Once per request. Average Minutes per Response: 10. Burden Hours: 667. 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 Office of Management and Budget control number. If additional information is required contact: Jerri Murray, Department Clearance Officer, United States Department of Justice, Justice Management Division, Policy and Planning Staff, Two Constitution Square, 145 N Street NE., Room 3E– 405B, Washington, DC 20530. Dated: January 7, 2015. Jerri Murray, Department Clearance Officer for PRA, U.S. Department of Justice. [FR Doc. 2015–00233 Filed 1–9–15; 8:45 am] BILLING CODE 4410–02–P Sunshine Act: Notice of Agency Meeting 8:30 a.m., Thursday, January 15, 2015. PLACE: Board Room, 7th Floor, Room 7047, 1775 Duke Street, Alexandria, VA 22314–3428. STATUS: Closed. MATTERS TO BE CONSIDERED: TIME AND DATE: 1 The 60-day notice included the following estimate of the aggregate burden hours for this generic clearance federal-wide: Average Expected Annual Number of activities: 25,000. Average Number of Respondents per Activity: 200. Annual Responses: 5,000,000. Frequency of Response: Once per request. Average Minutes per Response: 30. Burden Hours: 2,500,000. Frm 00025 Fmt 4703 Sfmt 4703 1. Proposed Merger under NCUA’s Rules and Regulations. Closed pursuant to Exemption (8). 2. Creditor Claim Appeal. Closed pursuant to Exemption (6). 3. Consideration of Personnel Matters and Supervisory Activities. Closed pursuant to Exemptions (6) and (8). RECESS: 9:45 a.m. TIME AND DATE: 10:00 a.m., Thursday, January 15, 2015. PLACE: Board Room, 7th Floor, Room 7047, 1775 Duke Street (All visitors must use Diagonal Road Entrance), Alexandria, VA 22314–3428. STATUS: Open. MATTERS TO BE CONSIDERED: 1. NCUA’s 2015–2016 Annual Performance Plan. 2. NCUA’s Rules and Regulations, Capital Planning and Stress Testing Schedules. 3. Community Charter Request, 360 Federal Credit Union (Windsor Locks, CT). 4. NCUA’s Rules and Regulations, Prompt Corrective Action and RiskBased Capital Measures. FOR FURTHER INFORMATION CONTACT: Gerard Poliquin, Secretary of the Board, Telephone: 703–518–6304. Gerard Poliquin, Secretary of the Board. [FR Doc. 2015–00331 Filed 1–8–15; 4:15 pm] BILLING CODE 7535–01–P PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums Pension Benefit Guaranty Corporation. ACTION: Notice of request for OMB approval of revised collection of information. AGENCY: NATIONAL CREDIT UNION ADMINISTRATION PO 00000 1517 The Pension Benefit Guaranty Corporation (PBGC) is modifying the collection of information under its regulation on Payment of Premiums (OMB control number 1212–0009; expires April 30, 2017) and is requesting that the Office of Management and Budget (OMB) approve the revised collection of information under the Paperwork Reduction Act for three years. This notice informs the public of PBGC’s request and solicits public comment on the collection of information. DATES: Comments must be submitted by February 11, 2015. ADDRESSES: Comments should be sent to the Office of Information and Regulatory SUMMARY: E:\FR\FM\12JAN1.SGM 12JAN1 tkelley on DSK3SPTVN1PROD with NOTICES 1518 Federal Register / Vol. 80, No. 7 / Monday, January 12, 2015 / Notices Affairs, Office of Management and Budget, Attention: Desk Officer for the Pension Benefit Guaranty Corporation, via electronic mail at OIRA_DOCKET@omb.eop.gov or by fax to 202–395–6974. The OMB submission (including the collection of information, comments, and supporting statement) will be posted at https://www.pbgc.gov/prac/ laws-and-regulations/informationcollections-under-omb-review.html. Copies of the collection of information and comments may also be obtained without charge by writing to the Disclosure Division, Office of General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005–4026; visiting the Disclosure Division; faxing a request to 202–326–4042; or calling 202–326– 4040 during normal business hours. (TTY/TDD users may call the Federal relay service toll-free at 1–800–877– 8339 and ask to be connected to 202– 326–4040.) The premium payment regulation and the premium instructions (including illustrative forms) for 2014 are available at www.pbgc.gov . FOR FURTHER INFORMATION CONTACT: Deborah C. Murphy, Deputy Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005–4026; 202–326–4024. (TTY/TDD users may call the Federal relay service toll-free at 1–800–877–8339 and ask to be connected to 202–326–4024.) SUPPLEMENTARY INFORMATION: Section 4007 of Title IV of the Employee Retirement Income Security Act of 1974 (ERISA) requires pension plans covered under Title IV pension insurance programs to pay premiums to PBGC. All plans covered by Title IV pay a flat-rate per-participant premium. An underfunded single-employer plan also pays a variable-rate premium based on the value of the plan’s unfunded vested benefits. Pursuant to section 4007, PBGC has issued its regulation on Payment of Premiums (29 CFR part 4007). Under § 4007.3 of the premium payment regulation, the plan administrator of each pension plan covered by Title IV of ERISA is required to file a premium payment and information prescribed by PBGC for each premium payment year. Premium information must be filed electronically using ‘‘My Plan Administration Account’’ (‘‘My PAA’’) through PBGC’s Web site except to the extent PBGC grants an exemption for good cause in appropriate circumstances, in which case the information must be filed using an approved PBGC form. Under § 4007.10 VerDate Sep<11>2014 17:35 Jan 09, 2015 Jkt 235001 of the premium payment regulation, plan administrators are required to retain records about premiums and information submitted in premium filings. Premium filings report (i) the flat-rate premium and related data (all plans), (ii) the variable-rate premium and related data (single-employer plans), and (iii) additional data such as identifying information and miscellaneous planrelated or filing-related data (all plans). PBGC needs this information to identify the plans for which premiums are paid, to verify whether the amounts paid are correct, to help PBGC determine the magnitude of its exposure in the event of plan termination, to help track the creation of new plans and transfer of participants and plan assets and liabilities among plans, and to keep PBGC’s insured-plan inventory up to date. That information and the retained records are also needed for audit purposes. PBGC is revising the 2015 filing procedures and instructions to require after-the-fact reporting of certain risk transfers through lump sum windows and annuity purchases. Risk transfers can substantially reduce the premiums that plans otherwise would pay to PBGC. Because PBGC premiums and the investment income earned on them are a major source of income for PBGC, information about risk transfers is critical to PBGC’s ability to assess its future financial condition. There is currently no available comprehensive, detailed, and reliable source for information on risk transfers. PBGC is also changing certain premium declaration certification procedures, offering the option for a plan to provide a telephone number specifically for inclusion in PBGC’s Search Plan List on PBGC’s Web site, updating the premium rates (including to reflect the Consolidated and Further Continuing Appropriations Act, 2015, Pub. L. 113–235), and making conforming, clarifying, and editorial changes. On September 23, 2014 (at 79 FR 56831), PBGC gave public notice that it intended to submit the revised procedures and instructions to OMB for review. PBGC received nine comment letters from representatives of employers, pension practitioners, annuity providers, and participants.1 The comments focused almost exclusively on the new risk transfer items. PBGC has made changes to the new items (both the questions 1 The notice and comments are posted at https:// www.pbgc.gov/prac/pg/other/guidance/paperworknotices.html. PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 themselves and the instructions) in response to some of the comments. The changes and other responses to the comments are discussed in detail in the supporting statement to the OMB submission. The collection of information under the regulation has been approved through April 30, 2017, by OMB under control number 1212–0009. PBGC intends to request that OMB approve the revised collection of information 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. PBGC estimates that it will receive 25,700 premium filings per year from 25,700 plan administrators under this collection of information. PBGC further estimates that the average annual burden of this collection of information is approximately 8,000 hours and $53,200,000. Issued in Washington, DC, this 7th day of January, 2015. Judith Starr, General Counsel, Pension Benefit Guaranty Corporation. [FR Doc. 2015–00253 Filed 1–9–15; 8:45 am] BILLING CODE 7709–02–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 11a–3, SEC File No. 270–321, OMB Control No. 3235–0358. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Section 11(a) of the Investment Company Act of 1940 (‘‘Act’’) (15 U.S.C. 80a–11(a)) provides that it is unlawful for a registered open-end investment company (‘‘fund’’) or its underwriter to make an offer to the fund’s shareholders or the shareholders of any other fund to exchange the fund’s securities for securities of the same or another fund E:\FR\FM\12JAN1.SGM 12JAN1

Agencies

[Federal Register Volume 80, Number 7 (Monday, January 12, 2015)]
[Notices]
[Pages 1517-1518]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-00253]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Payment of Premiums

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for OMB approval of revised collection of 
information.

-----------------------------------------------------------------------

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is modifying 
the collection of information under its regulation on Payment of 
Premiums (OMB control number 1212-0009; expires April 30, 2017) and is 
requesting that the Office of Management and Budget (OMB) approve the 
revised collection of information under the Paperwork Reduction Act for 
three years. This notice informs the public of PBGC's request and 
solicits public comment on the collection of information.

DATES: Comments must be submitted by February 11, 2015.

ADDRESSES: Comments should be sent to the Office of Information and 
Regulatory

[[Page 1518]]

Affairs, Office of Management and Budget, Attention: Desk Officer for 
the Pension Benefit Guaranty Corporation, via electronic mail at 
OIRA_DOCKET@omb.eop.gov or by fax to 202-395-6974.
    The OMB submission (including the collection of information, 
comments, and supporting statement) will be posted at https://www.pbgc.gov/prac/laws-and-regulations/information-collections-under-omb-review.html. Copies of the collection of information and comments 
may also be obtained without charge by writing to the Disclosure 
Division, Office of General Counsel, Pension Benefit Guaranty 
Corporation, 1200 K Street NW., Washington, DC 20005-4026; visiting the 
Disclosure Division; faxing a request to 202-326-4042; or calling 202-
326-4040 during normal business hours. (TTY/TDD users may call the 
Federal relay service toll-free at 1-800-877-8339 and ask to be 
connected to 202-326-4040.) The premium payment regulation and the 
premium instructions (including illustrative forms) for 2014 are 
available at www.pbgc.gov .

FOR FURTHER INFORMATION CONTACT: Deborah C. Murphy, Deputy Assistant 
General Counsel for Regulatory Affairs, Pension Benefit Guaranty 
Corporation, 1200 K Street NW., Washington, DC 20005-4026; 202-326-
4024. (TTY/TDD users may call the Federal relay service toll-free at 1-
800-877-8339 and ask to be connected to 202-326-4024.)

SUPPLEMENTARY INFORMATION: Section 4007 of Title IV of the Employee 
Retirement Income Security Act of 1974 (ERISA) requires pension plans 
covered under Title IV pension insurance programs to pay premiums to 
PBGC. All plans covered by Title IV pay a flat-rate per-participant 
premium. An underfunded single-employer plan also pays a variable-rate 
premium based on the value of the plan's unfunded vested benefits.
    Pursuant to section 4007, PBGC has issued its regulation on Payment 
of Premiums (29 CFR part 4007). Under Sec.  4007.3 of the premium 
payment regulation, the plan administrator of each pension plan covered 
by Title IV of ERISA is required to file a premium payment and 
information prescribed by PBGC for each premium payment year. Premium 
information must be filed electronically using ``My Plan Administration 
Account'' (``My PAA'') through PBGC's Web site except to the extent 
PBGC grants an exemption for good cause in appropriate circumstances, 
in which case the information must be filed using an approved PBGC 
form. Under Sec.  4007.10 of the premium payment regulation, plan 
administrators are required to retain records about premiums and 
information submitted in premium filings.
    Premium filings report (i) the flat-rate premium and related data 
(all plans), (ii) the variable-rate premium and related data (single-
employer plans), and (iii) additional data such as identifying 
information and miscellaneous plan-related or filing-related data (all 
plans). PBGC needs this information to identify the plans for which 
premiums are paid, to verify whether the amounts paid are correct, to 
help PBGC determine the magnitude of its exposure in the event of plan 
termination, to help track the creation of new plans and transfer of 
participants and plan assets and liabilities among plans, and to keep 
PBGC's insured-plan inventory up to date. That information and the 
retained records are also needed for audit purposes.
    PBGC is revising the 2015 filing procedures and instructions to 
require after-the-fact reporting of certain risk transfers through lump 
sum windows and annuity purchases. Risk transfers can substantially 
reduce the premiums that plans otherwise would pay to PBGC. Because 
PBGC premiums and the investment income earned on them are a major 
source of income for PBGC, information about risk transfers is critical 
to PBGC's ability to assess its future financial condition. There is 
currently no available comprehensive, detailed, and reliable source for 
information on risk transfers.
    PBGC is also changing certain premium declaration certification 
procedures, offering the option for a plan to provide a telephone 
number specifically for inclusion in PBGC's Search Plan List on PBGC's 
Web site, updating the premium rates (including to reflect the 
Consolidated and Further Continuing Appropriations Act, 2015, Pub. L. 
113-235), and making conforming, clarifying, and editorial changes.
    On September 23, 2014 (at 79 FR 56831), PBGC gave public notice 
that it intended to submit the revised procedures and instructions to 
OMB for review. PBGC received nine comment letters from representatives 
of employers, pension practitioners, annuity providers, and 
participants.\1\ The comments focused almost exclusively on the new 
risk transfer items. PBGC has made changes to the new items (both the 
questions themselves and the instructions) in response to some of the 
comments. The changes and other responses to the comments are discussed 
in detail in the supporting statement to the OMB submission.
---------------------------------------------------------------------------

    \1\ The notice and comments are posted at https://www.pbgc.gov/prac/pg/other/guidance/paperwork-notices.html.
---------------------------------------------------------------------------

    The collection of information under the regulation has been 
approved through April 30, 2017, by OMB under control number 1212-0009. 
PBGC intends to request that OMB approve the revised collection of 
information 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.
    PBGC estimates that it will receive 25,700 premium filings per year 
from 25,700 plan administrators under this collection of information. 
PBGC further estimates that the average annual burden of this 
collection of information is approximately 8,000 hours and $53,200,000.

    Issued in Washington, DC, this 7th day of January, 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2015-00253 Filed 1-9-15; 8:45 am]
BILLING CODE 7709-02-P
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