Proposed Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations, 31574-31575 [2018-14491]

Download as PDF daltland on DSKBBV9HB2PROD with NOTICES 31574 Federal Register / Vol. 83, No. 130 / Friday, July 6, 2018 / Notices ORDERED that the Application regarding the indirect transfer of control over licenses listed above from Toshiba to WEC Holdings, and ultimately to BAM, is approved, subject to the following conditions: 1. With respect to the licenses listed above, Westinghouse shall continue to abide by all commitments and representations it previously made. These include, but are not limited to, maintaining decommissioning records and financial assurance, conducting decontamination activities, and eventually decommissioning the site. 2. The commitments/representations made in the Application regarding reporting relationships and authority over safety and security matters as well compliance with NRC requirements, shall be adhered to and may not be modified without the prior written consent from the Director, Office of Nuclear Material Safety and Safeguards, or that person’s designee. IT IS FURTHER ORDERED that Westinghouse, at least one (1) business day before all actions necessary to accomplish the indirect transfer of control are completed, shall so inform the Director, Office of Nuclear Material Safety and Safeguards, in writing. Should the proposed indirect transfer not be completed within one year from the date of issuance of this Order, the Order shall become null and void; provided, however, upon timely written application and for good cause shown, such completion date may be extended by Order. This Order is effective upon issuance. For further details with respect to this Order, see the Application cited in Section II above, and the Safety Evaluation Report supporting this action (ADAMS Accession No. ML18162A243), which are available for public inspection at the Commission’s Public Document Room (PDR), located at One White Flint North, Public File Area 01– F21, 11555 Rockville Pike (first floor), Rockville, Maryland, and accessible, electronically, through the ADAMS Public Electronic Reading Room, on the Internet, at the NRC Web site, https:// www.nrc.gov/reading-rm/adams.html. Persons who do not have access to ADAMS, or who encounter problems in accessing the documents located in ADAMS, should contact the NRC PDR reference staff, by telephone, at 1-800-397–4209, 301-415-4737, or via email, to pdr@nrc.gov. Dated and issued this 28th day of June, 2018. For the Nuclear Regulatory Commission. Marc L. Dapas, VerDate Sep<11>2014 18:25 Jul 05, 2018 Jkt 244001 Director Office of Nuclear Material Safety and Safeguards. [FR Doc. 2018–14489 Filed 7–5–18; 8:45 am] BILLING CODE 7590–01–P NUCLEAR REGULATORY COMMISSION [NRC–2018–0001] Sunshine Act Meeting Notice Weeks of July 9, 16, 23, 30, August 6, 13, 2018. PLACE: Commissioners’ Conference Room, 11555 Rockville Pike, Rockville, Maryland. STATUS: Public and Closed. DATE: Chambers@nrc.gov. Determinations on requests for reasonable accommodation will be made on a case-by-case basis. * * * * * Members of the public may request to receive this information electronically. If you would like to be added to the distribution, please contact the Nuclear Regulatory Commission, Office of the Secretary, Washington, DC 20555 (301– 415–1969), or you may email Patricia.Jimenez@nrc.gov or Wendy.Moore@nrc.gov. Dated: July 3, 2018. Denise L. McGovern, Policy Coordinator, Office of the Secretary. [FR Doc. 2018–14635 Filed 7–3–18; 4:15 pm] BILLING CODE 7590–01–P Week of July 9, 2018 There are no meetings scheduled for the week of July 9, 2018. Week of July 16, 2018—Tentative There are no meetings scheduled for the week of July 16, 2018. Week of July 23, 2018—Tentative There are no meetings scheduled for the week of July 23, 2018. Week of July 30, 2018—Tentative There are no meetings scheduled for the week of July 30, 2018. Week of August 6, 2018—Tentative There are no meetings scheduled for the week of August 6, 2018. Week of August 13, 2018—Tentative There are no meetings scheduled for the week of August 13, 2018. * * * * * The schedule for Commission meetings is subject to change on short notice. For more information or to verify the status of meetings, contact Denise McGovern at 301–415–0681 or via email at Denise.McGovern@nrc.gov. * * * * * The NRC Commission Meeting Schedule can be found on the internet at: https://www.nrc.gov/public-involve/ public-meetings/schedule.html. * * * * * The NRC provides reasonable accommodation to individuals with disabilities where appropriate. If you need a reasonable accommodation to participate in these public meetings, or need this meeting notice or the transcript or other information from the public meetings in another format (e.g., braille, large print), please notify Kimberly Meyer-Chambers, NRC Disability Program Manager, at 301– 287–0739, by videophone at 240–428– 3217, or by email at Kimberly.Meyer- PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 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 September 4, 2018. ADDRESSES: Comments may be submitted by any of the following methods: • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the online instructions for submitting comments. • Email: paperwork.comments@ pbgc.gov. • Mail or Hand Delivery: Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026. All submissions received must include the agency’s name (Pension Benefit Guaranty Corporation, or PBGC) and refer to the OMB control number(s) and the specific part number(s) of the regulation(s) they relate to. All comments received will be posted SUMMARY: E:\FR\FM\06JYN1.SGM 06JYN1 Federal Register / Vol. 83, No. 130 / Friday, July 6, 2018 / Notices without change to PBGC’s website, 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 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 website at www.pbgc.gov. FOR FURTHER INFORMATION CONTACT: Hilary Duke (duke.hilary@pbgc.gov), Assistant General Counsel for Regulatory Affairs, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington DC 20005–4026; 202–326– 4400, extension 3839. (TTY 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.) OMB has approved and issued control numbers for three 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 November 30, 2018. 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. daltland on DSKBBV9HB2PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 18:25 Jul 05, 2018 Jkt 244001 1. Termination of Multiemployer Plans (29 CFR Part 4041A) (OMB Control Number 1212–0020) (Expires November 30, 2018) Section 4041A(f)(2) of ERISA authorizes PBGC to prescribe reporting requirements and other rules and standards for administering terminated multiemployer plans. Section 4041A(c) and (f)(1) of ERISA prohibit the payment by a mass-withdrawal-terminated plan of lump sums greater than $1,750 or of nonvested plan benefits unless authorized by PBGC. The regulation requires the plan sponsor of a terminated plan to submit a notice of termination to PBGC. It also requires the plan sponsor of a masswithdrawal-terminated plan that is closing out to give notices to participants regarding the election of alternative forms of benefit distribution and, if the plan is not closing out, to obtain PBGC approval to pay lump sums greater than $1,750 or to pay nonvested plan benefits. PBGC uses the information in a notice of termination to assess the likelihood that PBGC financial assistance will be needed. Plan participants and beneficiaries use the information on alternative forms of benefit to make personal financial decisions. PBGC uses the information in an application for approval to pay lump sums greater than $1,750 or to pay nonvested plan benefits to determine whether such payments should be permitted. PBGC estimates that each year plan sponsors submit notices of termination for ten plans, distribute election notices to participants in three of those plans, and submit requests to pay benefits or benefit forms not otherwise permitted for one of those plans. The estimated annual burden of the collection of information is 69 hours and $50,000. 2. Notice of Insolvency (29 CFR Part 4245) (OMB Control Number 1212– 0033) (Expires November 30, 2018) Section 4245(e) of ERISA requires two types of notice: A ‘‘notice of insolvency,’’ stating a plan sponsor’s determination that the plan is or may become insolvent, and a ‘‘notice of insolvency benefit level,’’ stating the level of benefits that will be paid during an insolvency year. The recipients of these notices are PBGC, contributing employers, employee organizations representing participants, and participants and beneficiaries. The regulation establishes the procedure for complying with these notice requirements. PBGC uses the information submitted to estimate cash needs for financial assistance to PO 00000 Frm 00050 Fmt 4703 Sfmt 9990 31575 troubled plans. The collective bargaining parties use the information to decide whether additional plan contributions will be made to avoid the insolvency and consequent benefit suspensions. Plan participants and beneficiaries use the information in personal financial decisions. PBGC estimates that at most one plan sponsor of an ongoing plan gives notices each year under this regulation. The estimated annual burden of the collection of information is 20 hours and $12,000. 3. Duties of Plan Sponsor Following Mass Withdrawal (29 CFR Part 4281) (OMB Control Number 1212–0032) (Expires November 30, 2018) Section 4281 of ERISA provides rules for plans that have terminated by mass withdrawal. Under section 4281, if nonforfeitable benefits exceed plan assets, the plan sponsor must amend the plan to reduce benefits. If the plan nevertheless becomes insolvent, the plan sponsor must suspend certain benefits that cannot be paid. If available resources are inadequate to pay guaranteed benefits, the plan sponsor must request financial assistance from PBGC. The regulation requires a plan sponsor to give notices of benefit reduction, notices of insolvency, and notices of insolvency benefit level to PBGC and to participants and beneficiaries and, if necessary, to apply to PBGC for financial assistance. PBGC uses the information it receives to make determinations required by ERISA, to identify and estimate the cash needed for financial assistance to terminated plans, and to verify the appropriateness of financial assistance payments. Plan participants and beneficiaries use the information to make personal financial decisions. PBGC estimates that plan sponsors of terminated plans each year will give benefit reduction notices for 1 plan, notices of insolvency for 10 plans, and notices of insolvency benefit level for 55 plans. PBGC also estimates that plan sponsors each year will file initial requests for financial assistance for 10 plans and will submit 300 non-initial applications for financial assistance. The estimated annual burden of the collection of information is 1,300 hours and $615,400. Issued in Washington, DC. Hilary Duke, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2018–14491 Filed 7–5–18; 8:45 am] BILLING CODE 7709–02–P E:\FR\FM\06JYN1.SGM 06JYN1

Agencies

[Federal Register Volume 83, Number 130 (Friday, July 6, 2018)]
[Notices]
[Pages 31574-31575]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-14491]


=======================================================================
-----------------------------------------------------------------------

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 September 4, 2018.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the online instructions for submitting comments.
     Email: [email protected].
     Mail or Hand Delivery: Regulatory Affairs Division, Office 
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street NW, Washington, DC 20005-4026.
    All submissions received must include the agency's name (Pension 
Benefit Guaranty Corporation, or PBGC) and refer to the OMB control 
number(s) and the specific part number(s) of the regulation(s) they 
relate to. All comments received will be posted

[[Page 31575]]

without change to PBGC's website, 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 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 website at www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT: Hilary Duke ([email protected]), 
Assistant General Counsel for Regulatory Affairs, Office of the General 
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, 
Washington DC 20005-4026; 202-326-4400, extension 3839. (TTY 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 three 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 
November 30, 2018. 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.

1. Termination of Multiemployer Plans (29 CFR Part 4041A) (OMB Control 
Number 1212-0020) (Expires November 30, 2018)

    Section 4041A(f)(2) of ERISA authorizes PBGC to prescribe reporting 
requirements and other rules and standards for administering terminated 
multiemployer plans. Section 4041A(c) and (f)(1) of ERISA prohibit the 
payment by a mass-withdrawal-terminated plan of lump sums greater than 
$1,750 or of nonvested plan benefits unless authorized by PBGC.
    The regulation requires the plan sponsor of a terminated plan to 
submit a notice of termination to PBGC. It also requires the plan 
sponsor of a mass-withdrawal-terminated plan that is closing out to 
give notices to participants regarding the election of alternative 
forms of benefit distribution and, if the plan is not closing out, to 
obtain PBGC approval to pay lump sums greater than $1,750 or to pay 
nonvested plan benefits.
    PBGC uses the information in a notice of termination to assess the 
likelihood that PBGC financial assistance will be needed. Plan 
participants and beneficiaries use the information on alternative forms 
of benefit to make personal financial decisions. PBGC uses the 
information in an application for approval to pay lump sums greater 
than $1,750 or to pay nonvested plan benefits to determine whether such 
payments should be permitted.
    PBGC estimates that each year plan sponsors submit notices of 
termination for ten plans, distribute election notices to participants 
in three of those plans, and submit requests to pay benefits or benefit 
forms not otherwise permitted for one of those plans. The estimated 
annual burden of the collection of information is 69 hours and $50,000.

2. Notice of Insolvency (29 CFR Part 4245) (OMB Control Number 1212-
0033) (Expires November 30, 2018)

    Section 4245(e) of ERISA requires two types of notice: A ``notice 
of insolvency,'' stating a plan sponsor's determination that the plan 
is or may become insolvent, and a ``notice of insolvency benefit 
level,'' stating the level of benefits that will be paid during an 
insolvency year. The recipients of these notices are PBGC, contributing 
employers, employee organizations representing participants, and 
participants and beneficiaries.
    The regulation establishes the procedure for complying with these 
notice requirements. PBGC uses the information submitted to estimate 
cash needs for financial assistance to troubled plans. The collective 
bargaining parties use the information to decide whether additional 
plan contributions will be made to avoid the insolvency and consequent 
benefit suspensions. Plan participants and beneficiaries use the 
information in personal financial decisions.
    PBGC estimates that at most one plan sponsor of an ongoing plan 
gives notices each year under this regulation. The estimated annual 
burden of the collection of information is 20 hours and $12,000.

3. Duties of Plan Sponsor Following Mass Withdrawal (29 CFR Part 4281) 
(OMB Control Number 1212-0032) (Expires November 30, 2018)

    Section 4281 of ERISA provides rules for plans that have terminated 
by mass withdrawal. Under section 4281, if nonforfeitable benefits 
exceed plan assets, the plan sponsor must amend the plan to reduce 
benefits. If the plan nevertheless becomes insolvent, the plan sponsor 
must suspend certain benefits that cannot be paid. If available 
resources are inadequate to pay guaranteed benefits, the plan sponsor 
must request financial assistance from PBGC.
    The regulation requires a plan sponsor to give notices of benefit 
reduction, notices of insolvency, and notices of insolvency benefit 
level to PBGC and to participants and beneficiaries and, if necessary, 
to apply to PBGC for financial assistance.
    PBGC uses the information it receives to make determinations 
required by ERISA, to identify and estimate the cash needed for 
financial assistance to terminated plans, and to verify the 
appropriateness of financial assistance payments. Plan participants and 
beneficiaries use the information to make personal financial decisions.
    PBGC estimates that plan sponsors of terminated plans each year 
will give benefit reduction notices for 1 plan, notices of insolvency 
for 10 plans, and notices of insolvency benefit level for 55 plans. 
PBGC also estimates that plan sponsors each year will file initial 
requests for financial assistance for 10 plans and will submit 300 non-
initial applications for financial assistance. The estimated annual 
burden of the collection of information is 1,300 hours and $615,400.

    Issued in Washington, DC.
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2018-14491 Filed 7-5-18; 8:45 am]
 BILLING CODE 7709-02-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.