Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations, 28364-28366 [2017-12923]

Download as PDF asabaliauskas on DSKBBXCHB2PROD with NOTICES 28364 Federal Register / Vol. 82, No. 118 / Wednesday, June 21, 2017 / Notices vital feedback from customers and stakeholders on PBGC’s services would be unavailable. PBGC only submits a collection for approval under this generic clearance if it meets the following conditions: • The collections are voluntary; • The collections are low-burden for respondents (based on considerations of total burden hours, total number of respondents, or burden-hours per respondent) and are low-cost for both the respondents and the Federal Government; • The collections are noncontroversial and do not raise issues of concern to other Federal agencies; • Any collection is targeted to the solicitation of opinions from respondents who have experience with the program or may have experience with the program in the near future; • Personally identifiable information (PII) is collected only to the extent necessary and is not retained; • Information gathered will be used only internally for general service improvement and program management purposes and is not intended for release outside of the agency; • Information gathered will not be used for the purpose of substantially informing influential policy decisions; and • Information gathered will yield qualitative information; the collections will not be designed or expected to yield statistically reliable results or used as though the results are generalizable to the population of interest. As noted, feedback collected under this generic clearance does not produce results generalizable to the population of interest. 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. Collections with such objectives 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 to fielding the study. As a general matter, information collections will not result in any new system of records containing privacy information and will not ask questions of a sensitive nature, such as sexual VerDate Sep<11>2014 19:12 Jun 20, 2017 Jkt 241001 behavior and attitudes, religious beliefs, and other matters that are commonly considered private. Annually, over the next three years, PBGC estimates that it will conduct three activities involving about 1,630 respondents, each of whom will provide one response. The number of respondents will vary by activity: 40 for usability testing, 90 for focus groups (nine groups of ten respondents), and 1,500 for customer satisfaction surveys. PBGC estimates the annual burden of this collection of information as 635 hours: 2 hours per response for usability testing (total 80 hours); 2 hours per response for focus groups (total 180 hours); and 15 minutes per response for customer satisfaction surveys (total 375 hours). 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 collection of information is 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 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 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. Issued in Washington, DC. Deborah Chase Murphy, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2017–12924 Filed 6–20–17; 8:45 am] BILLING CODE 7709–02–P PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations Pension Benefit Guaranty Corporation. ACTION: Notice of request for extension of OMB approval. AGENCY: PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 The Pension Benefit Guaranty Corporation (PBGC) is requesting 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. This notice informs the public of PBGC’s request and solicits public comment on the collections of information. SUMMARY: Comments must be submitted on or before July 21, 2017. DATES: 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, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005–4026, or by 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.) The request is also available at http:// www.reginfo.gov. ADDRESSES: 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 202–326–4400, extension 3839.) 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. OMB has approved and issued control numbers for seven collections of information in PBGC’s regulations on multiemployer plans under the Employee Retirement Income Security Act (ERISA). These collections of information are described below. OMB approvals for these collections of information expire June 30, 2017. PBGC is requesting that OMB extend its approval of these collections of information for three years. The collections of information for which PBGC is requesting extension of OMB approval are as follows: SUPPLEMENTARY INFORMATION: E:\FR\FM\21JNN1.SGM 21JNN1 Federal Register / Vol. 82, No. 118 / Wednesday, June 21, 2017 / Notices collection of information is 1,050 hours and $501,000. 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. Section 4203(f) further provides that the regulations may permit use of special rules (1) only in industries that PBGC finds have appropriate characteristics and (2) only in instances where PBGC determines that use of such rules will not pose a significant risk to the multiemployer insurance system administered by PBGC. PBGC’s regulation on Extension of Special Withdrawal Liability Rules (29 CFR part 4203) 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. asabaliauskas on DSKBBXCHB2PROD with 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. PBGC’s regulation on Variances for Sale of Assets (29 CFR part 4204) establishes general variances (rules for avoiding the bond/escrow and salecontract 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 VerDate Sep<11>2014 19:12 Jun 20, 2017 Jkt 241001 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 PBGC’s regulation on Reduction or Waiver of Complete Withdrawal Liability (29 CFR part 4207), 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 PBGC’s regulation on Reduction or Waiver of Partial Withdrawal Liability (29 CFR part 4208), 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 PO 00000 Frm 00072 Fmt 4703 Sfmt 4703 28365 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. PBGC’s regulation on Allocating Unfunded Vested Benefits to Withdrawing Employers (29 CFR part 4211) 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.’’ A mass withdrawal occurs in two situations: the termination of a plan by the withdrawal of every employer from the plan and the withdrawal of substantially all employers from the plan pursuant to an agreement or arrangement to withdraw. ERISA section 4209(c) deals with an employer’s liability for de minimis amounts if substantially all employers withdraw, regardless of the occurrence of a mass withdrawal. The reporting requirements in PBGC’s regulation on Notice, Collection, and Redetermination of Withdrawal E:\FR\FM\21JNN1.SGM 21JNN1 28366 Federal Register / Vol. 82, No. 118 / Wednesday, June 21, 2017 / Notices Liability (29 CFR part 4219) give employers notice and advise them of their rights and liabilities if there is a mass withdrawal or if substantially all employers withdraw. The reporting requirements 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 each year there are six mass withdrawals and three withdrawals in which substantially all employers withdraw. 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 withdrawal in which substantially all employers withdraw, 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. asabaliauskas on DSKBBXCHB2PROD with NOTICES 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. PBGC’s regulation on Procedures for PBGC Approval of Plan Amendments (29 CFR part 4220) 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 collection of information is 0.5 hours and $5,000 dollars. VerDate Sep<11>2014 19:12 Jun 20, 2017 Jkt 241001 Issued in Washington, DC. Deborah Chase Murphy, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2017–12923 Filed 6–20–17; 8:45 am] BILLING CODE P POSTAL REGULATORY COMMISSION [Docket Nos. MC2017–148 and CP2017–209; MC2017–149 and CP2017–210; MC2017–150 and CP2017–211; MC2017–151 and CP2017– 212; CP2017–213] New Postal Products Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is noticing a recent Postal Service filing for the Commission’s consideration concerning negotiated service agreements. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: June 23, 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) 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 PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 the interests of the general public in the 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).: MC2017–148 and CP2017–209; Filing Title: Request of the United States Postal Service to Add Priority Mail & First-Class Package Service Contract 45 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: June 15, 2017; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Jennaca D. Upperman; Comments Due: June 23, 2017. 2. Docket No(s).: MC2017–149 and CP2017–210; Filing Title: Request of the United States Postal Service to Add Priority Mail Express Contract 49 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: June 15, 2017; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Jennaca D. Upperman; Comments Due: June 23, 2017. 3. Docket No(s).: MC2017–150 and CP2017–211; Filing Title: Request of the United States Postal Service to Add Priority Mail Contract 329 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: June 15, 2017; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; E:\FR\FM\21JNN1.SGM 21JNN1

Agencies

[Federal Register Volume 82, Number 118 (Wednesday, June 21, 2017)]
[Notices]
[Pages 28364-28366]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-12923]


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

PENSION BENEFIT GUARANTY CORPORATION


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

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval.

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

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 collections of information in PBGC's 
regulations on multiemployer plans. This notice informs the public of 
PBGC's request and solicits public comment on the collections of 
information.

DATES: Comments must be submitted on or before July 21, 2017.

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, 
Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 
20005-4026, or by 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 http://www.reginfo.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 202-326-4400, extension 3839.)

SUPPLEMENTARY INFORMATION: 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. OMB has 
approved and issued control numbers for seven collections of 
information in PBGC's regulations on multiemployer plans under the 
Employee Retirement Income Security Act (ERISA). These collections of 
information are described below. OMB approvals for these collections of 
information expire June 30, 2017. PBGC is requesting that OMB extend 
its approval of these collections of information for three years.
    The collections of information for which PBGC is requesting 
extension of OMB approval are as follows:

[[Page 28365]]

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. 
Section 4203(f) further provides that the regulations may permit use of 
special rules (1) only in industries that PBGC finds have appropriate 
characteristics and (2) only in instances where PBGC determines that 
use of such rules will not pose a significant risk to the multiemployer 
insurance system administered by PBGC.
    PBGC's regulation on Extension of Special Withdrawal Liability 
Rules (29 CFR part 4203) 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.

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.
    PBGC's regulation on Variances for Sale of Assets (29 CFR part 
4204) 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 PBGC's regulation on Reduction or Waiver of Complete 
Withdrawal Liability (29 CFR part 4207), 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 PBGC's regulation on Reduction or Waiver of Partial 
Withdrawal Liability (29 CFR part 4208), 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.
    PBGC's regulation on Allocating Unfunded Vested Benefits to 
Withdrawing Employers (29 CFR part 4211) 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.'' A mass withdrawal 
occurs in two situations: the termination of a plan by the withdrawal 
of every employer from the plan and the withdrawal of substantially all 
employers from the plan pursuant to an agreement or arrangement to 
withdraw. ERISA section 4209(c) deals with an employer's liability for 
de minimis amounts if substantially all employers withdraw, regardless 
of the occurrence of a mass withdrawal.
    The reporting requirements in PBGC's regulation on Notice, 
Collection, and Redetermination of Withdrawal

[[Page 28366]]

Liability (29 CFR part 4219) give employers notice and advise them of 
their rights and liabilities if there is a mass withdrawal or if 
substantially all employers withdraw. The reporting requirements 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 each year there are six mass withdrawals and 
three withdrawals in which substantially all employers withdraw. 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 withdrawal in which 
substantially all employers withdraw, 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.
    PBGC's regulation on Procedures for PBGC Approval of Plan 
Amendments (29 CFR part 4220) 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 collection of information is 0.5 hours and $5,000 dollars.

    Issued in Washington, DC.
Deborah Chase Murphy,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2017-12923 Filed 6-20-17; 8:45 am]
BILLING CODE P