Proposed Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations, 16863-16865 [2017-06802]

Download as PDF Federal Register / Vol. 82, No. 65 / Thursday, April 6, 2017 / Notices 10. Abstract: Part 75 of 10 CFR requires selected licensees to provide reports of nuclear material inventory and flow for selected facilities under the US/IAEA Safeguards Agreement, permit inspections by IAEA inspectors, complementary access of IAEA inspectors under the Additional Protocol, give immediate notice to the NRC in specified situations involving the possibility of loss of nuclear material, and give notice for imports and exports of specified amounts of nuclear material. In addition, this collection is being renewed to include approximately 25 entities subject to the U.S.-IAEA Caribbean Territories Safeguards Agreement (INFCIRC/366). These licensees will provide reports of nuclear material inventory and flow for entities under the U.S.-IAEA Caribbean Territories Safeguards Agreement (INFCIRC/366), permit inspections by IAEA inspectors, give immediate notice to the NRC in specified situations involving the possibility of loss of nuclear material, and give notice for imports and exports of specified amounts of nuclear material. Licensees will also follow written material accounting and control procedures, although actual reporting of transfer and material balance records to the IAEA will be done through the US State system (Nuclear Materials Management and Safeguards System, collected under OMB clearance numbers 3150–0003, 3150–0004, 3150–0057, and 3150– 0058). The NRC needs this information to implement its responsibilities under the US/IAEA agreement. III. Specific Requests for Comments mstockstill on DSK3G9T082PROD with NOTICES The NRC is seeking comments that address the following questions: 1. Is the proposed collection of information necessary for the NRC to properly perform its functions? Does the information have practical utility? 2. Is the estimate of the burden of the information collection accurate? 3. Is there a way to enhance the quality, utility, and clarity of the information to be collected? 4. How can the burden of the information collection on respondents be minimized, including the use of automated collection techniques or other forms of information technology? Dated at Rockville, Maryland, this 31st day of March, 2017. For the Nuclear Regulatory Commission. David Cullison, NRC Clearance Officer, Information Services Branch, Office of the Chief Information Officer. [FR Doc. 2017–06785 Filed 4–5–17; 8:45 am] BILLING CODE 7590–01–P VerDate Sep<11>2014 18:51 Apr 05, 2017 Jkt 241001 PENSION BENEFIT GUARANTY CORPORATION Proposed Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations Pension Benefit Guaranty Corporation. ACTION: Notice of intention to request extension of OMB approval of information collections. AGENCY: 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 collections of information in PBGC’s regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC’s intent and solicits public comment on the collections of information. DATES: Comments must be submitted on or before June 5, 2017. ADDRESSES: Comments may be submitted by any of the following methods: • Federal eRulemaking Portal: http:// www.regulations.gov. (Follow the online instructions for submitting comments.) • Email: reg.comments@pbgc.gov. • Mail or Hand Delivery: Regulatory Affairs Group, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005–4026. Comments received, including personal information provided, will be posted to www.pbgc.gov. Copies of the collections of information may also be obtained by writing to Disclosure Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005–4026, or calling 202–326–4040 during normal business hours. (TTY and TDD users may call the Federal relay service toll-free at 800–877–8339 and ask to be connected to 202–326–4040.) PBGC’s regulations on multiemployer plans may be accessed on PBGC’s Web site at www.pbgc.gov. FOR FURTHER INFORMATION CONTACT: Hilary Duke (duke.hilary@pbgc.gov), Attorney, Regulatory Affairs Group, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington DC 20005– 4026; 202–326–4400, extension 3839. (TTY and TDD users may call the Federal relay service toll-free at 800– 877–8339 and ask to be connected to 202–326–4100, ext. 6818, or 202–326– 4400, extension 3839.) SUMMARY: PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 16863 OMB has approved and issued control numbers for seven collections of information in PBGC’s regulations relating to multiemployer plans. These collections of information are described below. OMB approvals for these collections of information expire June 30, 2017. PBGC intends to request that OMB extend its approval of these collections 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 is soliciting public comments to— • Evaluate whether the proposed collections of information are 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 proposed collections of information, including the validity of the methodologies and assumptions used; • enhance the quality, utility, and clarity of the information to be collected; and • minimize the burden of the collections 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. Comments should identify the specific part number(s) of the regulation(s) they relate to. SUPPLEMENTARY INFORMATION: 1. Extension of Special Withdrawal Liability Rules (29 CFR Part 4203) (OMB Control Number 1212–0023) Sections 4203(f) and 4208(e)(3) of ERISA allow PBGC to permit a multiemployer plan to adopt special rules for determining whether a withdrawal from the plan has occurred, subject to PBGC approval. The regulation specifies the information that a plan that adopts special rules must submit to PBGC about the rules, the plan, and the industry in which the plan operates. PBGC uses the information to determine whether the rules are appropriate for the industry in which the plan functions and do not pose a significant risk to the insurance system. PBGC estimates that at most one plan sponsor submits a request each year under this regulation. The estimated annual burden of the collection of information is two hours and $5,000. E:\FR\FM\06APN1.SGM 06APN1 16864 Federal Register / Vol. 82, No. 65 / Thursday, April 6, 2017 / Notices 2. Variances for Sale of Assets (29 CFR Part 4204) (OMB Control Number 1212– 0021) If an employer’s covered operations or contribution obligation under a plan ceases, the employer must generally pay withdrawal liability to the plan. Section 4204 of ERISA provides an exception, under certain conditions, where the cessation results from a sale of assets. Among other things, the buyer must furnish a bond or escrow, and the sale contract must provide for secondary liability of the seller. The regulation establishes general variances (rules for avoiding the bond/ escrow and sale-contract requirements) and authorizes plans to determine whether the variances apply in particular cases. It also allows buyers and sellers to request individual variances from PBGC. Plans and PBGC use the information to determine whether employers qualify for variances. PBGC estimates that each year, 100 employers submit, and 100 plans respond to, variance requests under the regulation, and one employer submits a variance request to PBGC. The estimated annual burden of the collection of information is 1,050 hours and $501,000. mstockstill on DSK3G9T082PROD with NOTICES 3. Reduction or Waiver of Complete Withdrawal Liability (29 CFR Part 4207) (OMB Control Number 1212– 0044) Section 4207 of ERISA allows PBGC to provide for abatement of an employer’s complete withdrawal liability, and for plan adoption of alternative abatement rules, where appropriate. Under the regulation, an employer applies to a plan for an abatement determination, providing information the plan needs to determine whether withdrawal liability should be abated, and the plan notifies the employer of its determination. The employer may, pending plan action, furnish a bond or escrow instead of making withdrawal liability payments, and must notify the plan if it does so. When the plan then makes its determination, it must so notify the bonding or escrow agent. The regulation also permits plans to adopt their own abatement rules and request PBGC approval. PBGC uses the information in such a request to determine whether the amendment should be approved. PBGC estimates that each year, at most one employer submits, and one plan responds to, an application for abatement of complete withdrawal liability, and no plan sponsors request VerDate Sep<11>2014 18:51 Apr 05, 2017 Jkt 241001 approval of plan abatement rules from PBGC. The estimated annual burden of the collection of information is 0.5 hours and $400. 6. Notice, Collection, and Redetermination of Withdrawal Liability (29 CFR Part 4219) (OMB Control Number 1212–0034) 4. Reduction or Waiver of Partial Withdrawal Liability (29 CFR Part 4208) (OMB Control Number 1212– 0039) Section 4219(c)(1)(D) of ERISA requires that PBGC prescribe regulations for the allocation of a plan’s total unfunded vested benefits in the event of a ‘‘mass withdrawal.’’ ERISA section 4209(c) deals with an employer’s liability for de minimis amounts if the employer withdraws in a ‘‘substantial withdrawal.’’ The reporting requirements in the regulation give employers notice of a mass withdrawal or substantial withdrawal and advise them of their rights and liabilities. They also provide notice to PBGC so that it can monitor the plan, and they help PBGC assess the possible impact of a withdrawal event on participants and the multiemployer plan insurance program. PBGC estimates that there are six mass withdrawals and three substantial withdrawals per year. The plan sponsor of a plan subject to a withdrawal covered by the regulation provides notices of the withdrawal to PBGC and to employers covered by the plan, liability assessments to the employers, and a certification to PBGC that assessments have been made. (For a mass withdrawal, there are two assessments and two certifications that deal with two different types of liability. For a substantial withdrawal, there is one assessment and one certification (combined with the withdrawal notice to PBGC).) The estimated annual burden of the collection of information is 45 hours and $132,000. Section 4208 of ERISA provides for abatement, in certain circumstances, of an employer’s partial withdrawal liability and authorizes PBGC to issue additional partial withdrawal liability abatement rules. Under the regulation, an employer applies to a plan for an abatement determination, providing information the plan needs to determine whether withdrawal liability should be abated, and the plan notifies the employer of its determination. The employer may, pending plan action, furnish a bond or escrow instead of making withdrawal liability payments, and must notify the plan if it does so. When the plan then makes its determination, it must so notify the bonding or escrow agent. The regulation also permits plans to adopt their own abatement rules and request PBGC approval. PBGC uses the information in such a request to determine whether the amendment should be approved. PBGC estimates that each year, at most one employer submits, and one plan responds to, an application for abatement of partial withdrawal liability and no plan sponsors request approval of plan abatement rules from PBGC. The estimated annual burden of the collection of information is 0.50 hours and $400. 5. Allocating Unfunded Vested Benefits to Withdrawing Employers (29 CFR Part 4211) (OMB Control Number 1212– 0035) Section 4211(c)(5)(A) of ERISA requires PBGC to prescribe how plans can, with PBGC approval, change the way they allocate unfunded vested benefits to withdrawing employers for purposes of calculating withdrawal liability. The regulation prescribes the information that must be submitted to PBGC by a plan seeking such approval. PBGC uses the information to determine how the amendment changes the way the plan allocates unfunded vested benefits and how it will affect the risk of loss to plan participants and PBGC. PBGC estimates that 10 plan sponsors submit approval requests each year under this regulation. The estimated annual burden of the collection of information is 100 hours and $100,000. PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 7. Procedures for PBGC Approval of Plan Amendments (29 CFR Part 4220) (OMB Control Number 1212–0031) Under section 4220 of ERISA, a plan may within certain limits adopt special plan rules regarding when a withdrawal from the plan occurs and how the withdrawing employer’s withdrawal liability is determined. Any such special rule is effective only if, within 90 days after receiving notice and a copy of the rule, PBGC either approves or fails to disapprove the rule. The regulation provides rules for requesting PBGC’s approval of an amendment. PBGC needs the required information to identify the plan, evaluate the risk of loss, if any, posed by the plan amendment, and determine whether to approve or disapprove the amendment. PBGC estimates that at most one plan sponsor submits an approval request per year under this regulation. The estimated annual burden of the E:\FR\FM\06APN1.SGM 06APN1 Federal Register / Vol. 82, No. 65 / Thursday, April 6, 2017 / Notices collection of information is 0.5 hours and $5,000 dollars. Deborah Chase Murphy, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2017–06802 Filed 4–5–17; 8:45 am] BILLING CODE P POSTAL REGULATORY COMMISSION [Docket Nos. MC2017–105 and CP2017–152] New Postal Products Postal Regulatory Commission. ACTION: Notice. AGENCY: The Commission is noticing a recent Postal Service filing for the Commission’s consideration concerning a negotiated service agreement. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: April 10, 2017. SUMMARY: Submit comments electronically via the Commission’s Filing Online system at http:// 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. ADDRESSES: FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction II. Docketed Proceeding(s) mstockstill on DSK3G9T082PROD with NOTICES I. Introduction The Commission gives notice that the Postal Service filed request(s) for the Commission to consider matters related to negotiated service agreement(s). The request(s) may propose the addition or removal of a negotiated service agreement from the market dominant or the competitive product list, or the modification of an existing product currently appearing on the market dominant or the competitive product list. Section II identifies the docket number(s) associated with each Postal Service request, the title of each Postal Service request, the request’s acceptance date, and the authority cited by the Postal Service for each request. For each request, the Commission appoints an officer of the Commission to represent the interests of the general public in the VerDate Sep<11>2014 18:51 Apr 05, 2017 Jkt 241001 proceeding, pursuant to 39 U.S.C. 505 (Public Representative). Section II also establishes comment deadline(s) pertaining to each request. The public portions of the Postal Service’s request(s) can be accessed via the Commission’s Web site (http:// www.prc.gov). Non-public portions of the Postal Service’s request(s), if any, can be accessed through compliance with the requirements of 39 CFR 3007.40. The Commission invites comments on whether the Postal Service’s request(s) in the captioned docket(s) are consistent with the policies of title 39. For request(s) that the Postal Service states concern market dominant product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3622, 39 U.S.C. 3642, 39 CFR part 3010, and 39 CFR part 3020, subpart B. For request(s) that the Postal Service states concern competitive product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3632, 39 U.S.C. 3633, 39 U.S.C. 3642, 39 CFR part 3015, and 39 CFR part 3020, subpart B. Comment deadline(s) for each request appear in section II. II. Docketed Proceeding(s) 1. Docket No(s).: MC2017–105 and CP2017–152; Filing Title: Request of the United States Postal Service to Add Global Expedited Package Services— Non-Published Rates 12 (GEPS–NPR 12) to the Competitive Products List and Notice of Filing GEPS–NPR 12 Model Contract and Application for NonPublic Treatment of Materials Filed Under Seal; Filing Acceptance Date: March 31, 2017; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Katalin K. Clendenin; Comments Due: April 10, 2017. This notice will be published in the Federal Register. Stacy L. Ruble, Secretary. [FR Doc. 2017–06851 Filed 4–5–17; 8:45 am] BILLING CODE 7710–FW–P PO 00000 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–80358; File No. SR–NYSE– 2017–11] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change To Amend Listing Standards for Acquisition Companies To Modify the Initial and Continued Distribution Requirements March 31, 2017. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on March 20, 2017, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its listing standards for Acquisition Companies (‘‘ACs’’) to modify the initial and continued distribution requirements. The proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 Frm 00087 Fmt 4703 Sfmt 4703 16865 E:\FR\FM\06APN1.SGM 06APN1

Agencies

[Federal Register Volume 82, Number 65 (Thursday, April 6, 2017)]
[Notices]
[Pages 16863-16865]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-06802]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collections for OMB Review; 
Comment Request; Multiemployer Plan Regulations

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intention to request extension of OMB approval of 
information collections.

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

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 collections of information in 
PBGC's regulations on multiemployer plans under the Employee Retirement 
Income Security Act of 1974 (ERISA). This notice informs the public of 
PBGC's intent and solicits public comment on the collections of 
information.

DATES: Comments must be submitted on or before June 5, 2017.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
(Follow the online instructions for submitting comments.)
     Email: reg.comments@pbgc.gov.
     Mail or Hand Delivery: Regulatory Affairs Group, Office of 
the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street NW., Washington, DC 20005-4026.
    Comments received, including personal information provided, will be 
posted to www.pbgc.gov. Copies of the collections of information may 
also be obtained by writing to Disclosure Division, Office of the 
General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street 
NW., Washington, DC 20005-4026, or calling 202-326-4040 during normal 
business hours. (TTY and TDD users may call the Federal relay service 
toll-free at 800-877-8339 and ask to be connected to 202-326-4040.) 
PBGC's regulations on multiemployer plans may be accessed on PBGC's Web 
site at www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT: Hilary Duke (duke.hilary@pbgc.gov), 
Attorney, Regulatory Affairs Group, Office of the General Counsel, 
Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington DC 
20005-4026; 202-326-4400, extension 3839. (TTY and TDD users may call 
the Federal relay service toll-free at 800-877-8339 and ask to be 
connected to 202-326-4100, ext. 6818, or 202-326-4400, extension 3839.)

SUPPLEMENTARY INFORMATION: OMB has approved and issued control numbers 
for seven collections of information in PBGC's regulations relating to 
multiemployer plans. These collections of information are described 
below. OMB approvals for these collections of information expire June 
30, 2017. PBGC intends to request that OMB extend its approval of these 
collections 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 is soliciting public comments to--
     Evaluate whether the proposed collections of information 
are 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 proposed collections of information, including the 
validity of the methodologies and assumptions used;
     enhance the quality, utility, and clarity of the 
information to be collected; and
     minimize the burden of the collections 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.
    Comments should identify the specific part number(s) of the 
regulation(s) they relate to.

1. Extension of Special Withdrawal Liability Rules (29 CFR Part 4203) 
(OMB Control Number 1212-0023)

    Sections 4203(f) and 4208(e)(3) of ERISA allow PBGC to permit a 
multiemployer plan to adopt special rules for determining whether a 
withdrawal from the plan has occurred, subject to PBGC approval.
    The regulation specifies the information that a plan that adopts 
special rules must submit to PBGC about the rules, the plan, and the 
industry in which the plan operates. PBGC uses the information to 
determine whether the rules are appropriate for the industry in which 
the plan functions and do not pose a significant risk to the insurance 
system.
    PBGC estimates that at most one plan sponsor submits a request each 
year under this regulation. The estimated annual burden of the 
collection of information is two hours and $5,000.

[[Page 16864]]

2. Variances for Sale of Assets (29 CFR Part 4204) (OMB Control Number 
1212-0021)

    If an employer's covered operations or contribution obligation 
under a plan ceases, the employer must generally pay withdrawal 
liability to the plan. Section 4204 of ERISA provides an exception, 
under certain conditions, where the cessation results from a sale of 
assets. Among other things, the buyer must furnish a bond or escrow, 
and the sale contract must provide for secondary liability of the 
seller.
    The regulation establishes general variances (rules for avoiding 
the bond/escrow and sale-contract requirements) and authorizes plans to 
determine whether the variances apply in particular cases. It also 
allows buyers and sellers to request individual variances from PBGC. 
Plans and PBGC use the information to determine whether employers 
qualify for variances.
    PBGC estimates that each year, 100 employers submit, and 100 plans 
respond to, variance requests under the regulation, and one employer 
submits a variance request to PBGC. The estimated annual burden of the 
collection of information is 1,050 hours and $501,000.

3. Reduction or Waiver of Complete Withdrawal Liability (29 CFR Part 
4207) (OMB Control Number 1212-0044)

    Section 4207 of ERISA allows PBGC to provide for abatement of an 
employer's complete withdrawal liability, and for plan adoption of 
alternative abatement rules, where appropriate.
    Under the regulation, an employer applies to a plan for an 
abatement determination, providing information the plan needs to 
determine whether withdrawal liability should be abated, and the plan 
notifies the employer of its determination. The employer may, pending 
plan action, furnish a bond or escrow instead of making withdrawal 
liability payments, and must notify the plan if it does so. When the 
plan then makes its determination, it must so notify the bonding or 
escrow agent.
    The regulation also permits plans to adopt their own abatement 
rules and request PBGC approval. PBGC uses the information in such a 
request to determine whether the amendment should be approved.
    PBGC estimates that each year, at most one employer submits, and 
one plan responds to, an application for abatement of complete 
withdrawal liability, and no plan sponsors request approval of plan 
abatement rules from PBGC. The estimated annual burden of the 
collection of information is 0.5 hours and $400.

4. Reduction or Waiver of Partial Withdrawal Liability (29 CFR Part 
4208) (OMB Control Number 1212-0039)

    Section 4208 of ERISA provides for abatement, in certain 
circumstances, of an employer's partial withdrawal liability and 
authorizes PBGC to issue additional partial withdrawal liability 
abatement rules.
    Under the regulation, an employer applies to a plan for an 
abatement determination, providing information the plan needs to 
determine whether withdrawal liability should be abated, and the plan 
notifies the employer of its determination. The employer may, pending 
plan action, furnish a bond or escrow instead of making withdrawal 
liability payments, and must notify the plan if it does so. When the 
plan then makes its determination, it must so notify the bonding or 
escrow agent.
    The regulation also permits plans to adopt their own abatement 
rules and request PBGC approval. PBGC uses the information in such a 
request to determine whether the amendment should be approved.
    PBGC estimates that each year, at most one employer submits, and 
one plan responds to, an application for abatement of partial 
withdrawal liability and no plan sponsors request approval of plan 
abatement rules from PBGC. The estimated annual burden of the 
collection of information is 0.50 hours and $400.

5. Allocating Unfunded Vested Benefits to Withdrawing Employers (29 CFR 
Part 4211) (OMB Control Number 1212-0035)

    Section 4211(c)(5)(A) of ERISA requires PBGC to prescribe how plans 
can, with PBGC approval, change the way they allocate unfunded vested 
benefits to withdrawing employers for purposes of calculating 
withdrawal liability.
    The regulation prescribes the information that must be submitted to 
PBGC by a plan seeking such approval. PBGC uses the information to 
determine how the amendment changes the way the plan allocates unfunded 
vested benefits and how it will affect the risk of loss to plan 
participants and PBGC.
    PBGC estimates that 10 plan sponsors submit approval requests each 
year under this regulation. The estimated annual burden of the 
collection of information is 100 hours and $100,000.

6. Notice, Collection, and Redetermination of Withdrawal Liability (29 
CFR Part 4219) (OMB Control Number 1212-0034)

    Section 4219(c)(1)(D) of ERISA requires that PBGC prescribe 
regulations for the allocation of a plan's total unfunded vested 
benefits in the event of a ``mass withdrawal.'' ERISA section 4209(c) 
deals with an employer's liability for de minimis amounts if the 
employer withdraws in a ``substantial withdrawal.''
    The reporting requirements in the regulation give employers notice 
of a mass withdrawal or substantial withdrawal and advise them of their 
rights and liabilities. They also provide notice to PBGC so that it can 
monitor the plan, and they help PBGC assess the possible impact of a 
withdrawal event on participants and the multiemployer plan insurance 
program.
    PBGC estimates that there are six mass withdrawals and three 
substantial withdrawals per year. The plan sponsor of a plan subject to 
a withdrawal covered by the regulation provides notices of the 
withdrawal to PBGC and to employers covered by the plan, liability 
assessments to the employers, and a certification to PBGC that 
assessments have been made. (For a mass withdrawal, there are two 
assessments and two certifications that deal with two different types 
of liability. For a substantial withdrawal, there is one assessment and 
one certification (combined with the withdrawal notice to PBGC).) The 
estimated annual burden of the collection of information is 45 hours 
and $132,000.

7. Procedures for PBGC Approval of Plan Amendments (29 CFR Part 4220) 
(OMB Control Number 1212-0031)

    Under section 4220 of ERISA, a plan may within certain limits adopt 
special plan rules regarding when a withdrawal from the plan occurs and 
how the withdrawing employer's withdrawal liability is determined. Any 
such special rule is effective only if, within 90 days after receiving 
notice and a copy of the rule, PBGC either approves or fails to 
disapprove the rule.
    The regulation provides rules for requesting PBGC's approval of an 
amendment. PBGC needs the required information to identify the plan, 
evaluate the risk of loss, if any, posed by the plan amendment, and 
determine whether to approve or disapprove the amendment.
    PBGC estimates that at most one plan sponsor submits an approval 
request per year under this regulation. The estimated annual burden of 
the

[[Page 16865]]

collection of information is 0.5 hours and $5,000 dollars.

Deborah Chase Murphy,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2017-06802 Filed 4-5-17; 8:45 am]
 BILLING CODE P