Submission of Information Collection for OMB Review; Comment Request; Qualified Domestic Relations Orders Submitted to PBGC, 64026-64027 [2015-26858]

Download as PDF 64026 Federal Register / Vol. 80, No. 204 / Thursday, October 22, 2015 / Notices tkelley on DSK3SPTVN1PROD with NOTICES Tuesday, November 3, 2015—8:30 a.m. until 5:00 p.m. The Subcommittee will discuss the Draft Final Rule for 10 CFR 50.46c. The Subcommittee will hear presentations by and hold discussions with the NRC staff and other interested persons regarding this matter. The Subcommittee will gather information, analyze relevant issues and facts, and formulate proposed positions and actions, as appropriate, for deliberation by the Full Committee. Members of the public desiring to provide oral statements and/or written comments should notify the Designated Federal Official (DFO), Christopher Brown (Telephone 301–415–7111 or Email: Christopher.Brown@nrc.gov) five days prior to the meeting, if possible, so that appropriate arrangements can be made. Thirty-five hard copies of each presentation or handout should be provided to the DFO thirty minutes before the meeting. In addition, one electronic copy of each presentation should be emailed to the DFO one day before the meeting. If an electronic copy cannot be provided within this timeframe, presenters should provide the DFO with a CD containing each presentation at least thirty minutes before the meeting. Electronic recordings will be permitted only during those portions of the meeting that are open to the public. Detailed procedures for the conduct of and participation in ACRS meetings were published in the Federal Register on October 1, 2014 (79 FR 59307). Detailed meeting agendas and meeting transcripts are available on the NRC Web site at https://www.nrc.gov/readingrm/doc-collections/acrs. Information regarding topics to be discussed, changes to the agenda, whether the meeting has been canceled or rescheduled, and the time allotted to present oral statements can be obtained from the Web site cited above or by contacting the identified DFO. Moreover, in view of the possibility that the schedule for ACRS meetings may be adjusted by the Chairman as necessary to facilitate the conduct of the meeting, persons planning to attend should check with these references if such rescheduling would result in a major inconvenience. If attending this meeting, please enter through the One White Flint North building, 11555 Rockville Pike, Rockville, MD. After registering with security, please contact Mr. Theron Brown (Telephone 240–888–9835) to be escorted to the meeting room. VerDate Sep<11>2014 18:05 Oct 21, 2015 Jkt 238001 Dated: October 14, 2015. Peter Wen, Acting Chief, Technical Support Branch, Advisory Committee on Reactor Safeguards. [FR Doc. 2015–26735 Filed 10–21–15; 8:45 am] BILLING CODE 7590–01–P PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collection for OMB Review; Comment Request; Qualified Domestic Relations Orders Submitted to PBGC Pension Benefit Guaranty Corporation. ACTION: Notice of request for extension of OMB approval. AGENCY: Pension Benefit Guaranty Corporation (‘‘PBGC’’) is requesting that the Office of Management and Budget (‘‘OMB’’) extend approval, under the Paperwork Reduction Act, of the collection of information in PBGC’s booklet Qualified Domestic Relations Orders & PBGC (OMB control number 1212–0054; expires October 31, 2015). This notice informs the public of PBGC’s request and solicits public comment on the collection of information. SUMMARY: Comments should be submitted by November 23, 2015. ADDRESSES: Comments should be sent to the Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Pension Benefit Guaranty Corporation, via electronic mail at OIRA_DOCKET@ omb.eop.gov or by fax to (202) 395– 6974. A copy of PBGC’s request may be obtained without charge by writing to the Disclosure Division of the Office of the General Counsel of PBGC 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.) The request is also available at https:// www.pbgc.gov/prac/laws-andregulations/information-collectionsunder-omb-review.html. The current QDRO booklet is available on PBGC’s Web site at https://www.pbgc.gov/wr/ benefits/qdro.html. FOR FURTHER INFORMATION CONTACT: Jo Amato Burns, Attorney, Office of General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005–4026, 202– 326–4400. (TTY and TDD users may call the Federal relay service toll-free at 1– DATES: PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 800–877–8339 and ask to be connected to 202–326–4400.) SUPPLEMENTARY INFORMATION: PBGC is requesting that OMB extend its approval of the guidance and model language and forms contained in the PBGC booklet, Qualified Domestic Relations Orders & PBGC. A defined benefit pension plan that does not have enough money to pay benefits may be terminated if the employer responsible for the plan faces severe financial difficulty, such as bankruptcy, and is unable to maintain the plan. In such an event, PBGC becomes trustee of the plan and pays benefits, subject to legal limits, to plan participants and beneficiaries. The benefits of a pension plan participant generally may not be assigned or alienated. However, Title I of ERISA provides an exception for domestic relations orders that relate to child support, alimony payments, or the marital property rights of an alternate payee (a spouse, former spouse, child, or other dependent of a plan participant). The exception applies only if the domestic relations order meets specific legal requirements that make it a qualified domestic relations order, or ‘‘QDRO.’’ ERISA provides that pension plans are required to comply with only those domestic relations orders which are QDROs, and that the decision as to whether a domestic relations order is a QDRO is made by the plan administrator. When PBGC is trustee of a plan, it reviews submitted domestic relations orders to determine whether the order is qualified before paying benefits to an alternate payee. The requirements for submitting a QDRO are established by statute. To simplify the process, PBGC has included model QDROs and accompanying guidance in a booklet, Qualified Domestic Relations Orders & PBGC. The models and guidance assist parties by making it easier to comply with ERISA’s QDRO requirements when drafting orders for plans trusteed by PBGC. The booklet does not create any additional requirements. PGBC is not making any substantive revisions to the current QDRO booklet. PGBC is adding text to clarify how separate interest orders are administered by PBGC and to explain how PBGC apportions adjustments required by ERISA’s Title IV limitations on benefits between an alternate payee and a participant, as well as the consequences of such adjustments on each party. PBGC is also making other simplifying and clarifying changes to the QDRO booklet. E:\FR\FM\22OCN1.SGM 22OCN1 Federal Register / Vol. 80, No. 204 / Thursday, October 22, 2015 / Notices The collection of information has been approved through October 31, 2015, by OMB under control number 1212–0054. PBGC is requesting that OMB extend approval of the 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 1,170 domestic relations orders annually and that the average annual burden of this collection of information is 2,117 hours and $704,500. Issued in Washington, DC, this 19 day of October 2015. Judith Starr, General Counsel, Pension Benefit Guaranty Corporation. [FR Doc. 2015–26858 Filed 10–21–15; 8:45 am] BILLING CODE 7709–02–P POSTAL REGULATORY COMMISSION [Docket No. CP2016–8; Order No. 2760] Package Services 3 (GEPS 3) negotiated service agreement (Agreement).1 To support its Notice, the Postal Service filed a copy of the Agreement, a copy of the Governors’ Decision authorizing the product, a certification of compliance with 39 U.S.C. 3633(a), and an application for non-public treatment of certain materials. It also filed supporting financial workpapers. II. Notice of Commission Action The Commission establishes Docket No. CP2016–8 for consideration of matters raised by the Notice. The Commission invites comments on whether the Postal Service’s filing is consistent with 39 U.S.C. 3632, 3633, or 3642, 39 CFR part 3015, and 39 CFR part 3020, subpart B. Comments are due no later than October 23, 2015. The public portions of the filing can be accessed via the Commission’s Web site (https://www.prc.gov). The Commission appoints Curtis E. Kidd to serve as Public Representative in this docket. III. Ordering Paragraphs New Postal Product Postal Regulatory Commission. ACTION: Notice. AGENCY: The Commission is noticing a recent Postal Service filing concerning an additional Global Expedited Package Services 3 negotiated service agreement. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: October 23, 2015. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at https:// www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. SUMMARY: It is ordered: 1. The Commission establishes Docket No. CP2016–8 for consideration of the matters raised by the Postal Service’s Notice. 2. Pursuant to 39 U.S.C. 505, Curtis E. Kidd is appointed to serve as an officer of the Commission to represent the interests of the general public in this proceeding (Public Representative). 3. Comments are due no later than October 23, 2015. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Ruth Ann Abrams, Acting Secretary. [FR Doc. 2015–26818 Filed 10–21–15; 8:45 am] BILLING CODE 7710–FW–P FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: tkelley on DSK3SPTVN1PROD with NOTICES Table of Contents I. Introduction II. Notice of Commission Action III. Ordering Paragraphs I. Introduction On October 15, 2015, the Postal Service filed notice that it has entered into an additional Global Expedited VerDate Sep<11>2014 18:05 Oct 21, 2015 Jkt 238001 1 Notice of United States Postal Service of Filing a Functionally Equivalent Global Expedited Package Services 3 Negotiated Service Agreement and Application for Non-Public Treatment of Materials Filed Under Seal, October 15, 2015 (Notice). PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 64027 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76174; File No. SR– NYSEArca–2015–74] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Regarding a Change to the Reference Index of the Market Vectors Short High Yield Municipal Index ETF October 16, 2015. On August 27, 2015, NYSE Arca, Inc. filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to reflect a change to the reference index relating to the Market Vectors Short High Yield Municipal Index ETF. The proposed rule change was published for comment in the Federal Register on September 16, 2015.3 The Commission received no comment letters on the proposed rule change. Section 19(b)(2) of the Act 4 provides that, within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The Commission is extending this 45-day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates December 15, 2015, as the date by which the Commission should either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR–NYSEArca-2015–74). 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 75888 (September 10, 2015), 80 FR 55701. 4 15 U.S.C. 78s(b)(2). 5 Id. 2 17 E:\FR\FM\22OCN1.SGM 22OCN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 80, Number 204 (Thursday, October 22, 2015)]
[Notices]
[Pages 64026-64027]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-26858]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Qualified Domestic Relations Orders Submitted to PBGC

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval.

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

SUMMARY: Pension Benefit Guaranty Corporation (``PBGC'') is requesting 
that the Office of Management and Budget (``OMB'') extend approval, 
under the Paperwork Reduction Act, of the collection of information in 
PBGC's booklet Qualified Domestic Relations Orders & PBGC (OMB control 
number 1212-0054; expires October 31, 2015). This notice informs the 
public of PBGC's request and solicits public comment on the collection 
of information.

DATES: Comments should be submitted by November 23, 2015.

ADDRESSES: Comments should be sent to the Office of Information and 
Regulatory Affairs, Office of Management and Budget, Attention: Desk 
Officer for Pension Benefit Guaranty Corporation, via electronic mail 
at OIRA_DOCKET@omb.eop.gov or by fax to (202) 395-6974.
    A copy of PBGC's request may be obtained without charge by writing 
to the Disclosure Division of the Office of the General Counsel of PBGC 
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.) The request is also available at https://www.pbgc.gov/prac/laws-and-regulations/information-collections-under-omb-review.html. The current QDRO booklet is available on PBGC's Web 
site at https://www.pbgc.gov/wr/benefits/qdro.html.

FOR FURTHER INFORMATION CONTACT: Jo Amato Burns, Attorney, Office of 
General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street 
NW., Washington, DC 20005-4026, 202-326-4400. (TTY and TDD users may 
call the Federal relay service toll-free at 1-800-877-8339 and ask to 
be connected to 202-326-4400.)

SUPPLEMENTARY INFORMATION: PBGC is requesting that OMB extend its 
approval of the guidance and model language and forms contained in the 
PBGC booklet, Qualified Domestic Relations Orders & PBGC.
    A defined benefit pension plan that does not have enough money to 
pay benefits may be terminated if the employer responsible for the plan 
faces severe financial difficulty, such as bankruptcy, and is unable to 
maintain the plan. In such an event, PBGC becomes trustee of the plan 
and pays benefits, subject to legal limits, to plan participants and 
beneficiaries.
    The benefits of a pension plan participant generally may not be 
assigned or alienated. However, Title I of ERISA provides an exception 
for domestic relations orders that relate to child support, alimony 
payments, or the marital property rights of an alternate payee (a 
spouse, former spouse, child, or other dependent of a plan 
participant). The exception applies only if the domestic relations 
order meets specific legal requirements that make it a qualified 
domestic relations order, or ``QDRO.''
    ERISA provides that pension plans are required to comply with only 
those domestic relations orders which are QDROs, and that the decision 
as to whether a domestic relations order is a QDRO is made by the plan 
administrator. When PBGC is trustee of a plan, it reviews submitted 
domestic relations orders to determine whether the order is qualified 
before paying benefits to an alternate payee. The requirements for 
submitting a QDRO are established by statute.
    To simplify the process, PBGC has included model QDROs and 
accompanying guidance in a booklet, Qualified Domestic Relations Orders 
& PBGC. The models and guidance assist parties by making it easier to 
comply with ERISA's QDRO requirements when drafting orders for plans 
trusteed by PBGC. The booklet does not create any additional 
requirements.
    PGBC is not making any substantive revisions to the current QDRO 
booklet. PGBC is adding text to clarify how separate interest orders 
are administered by PBGC and to explain how PBGC apportions adjustments 
required by ERISA's Title IV limitations on benefits between an 
alternate payee and a participant, as well as the consequences of such 
adjustments on each party. PBGC is also making other simplifying and 
clarifying changes to the QDRO booklet.

[[Page 64027]]

    The collection of information has been approved through October 31, 
2015, by OMB under control number 1212-0054. PBGC is requesting that 
OMB extend approval of the 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 1,170 domestic relations orders 
annually and that the average annual burden of this collection of 
information is 2,117 hours and $704,500.

    Issued in Washington, DC, this 19 day of October 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2015-26858 Filed 10-21-15; 8:45 am]
BILLING CODE 7709-02-P

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