Proposed Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums, 37694-37695 [2019-16351]

Download as PDF 37694 Federal Register / Vol. 84, No. 148 / Thursday, August 1, 2019 / Notices • include the nominee’s full name, work affiliation, mailing address, phone number, and email address; • include the nominator’s full name, mailing address, phone number, and email address; and • include the nominator’s signature, whether sent by email or otherwise. PBGC will contact nominees for information on their political affiliation and their status as registered lobbyists. Nominees should be aware of the time commitment for attending meetings and actively participating in the work of the Advisory Committee. Historically, this has meant a commitment of at least 15 days per year. PBGC has a process for vetting nominees under consideration for appointment. Issued in Washington, DC. Gordon Hartogensis, Director, Pension Benefit Guaranty Corporation. [FR Doc. 2019–16422 Filed 7–31–19; 8:45 am] BILLING CODE 7709–02–P PENSION BENEFIT GUARANTY CORPORATION Proposed Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums Pension Benefit Guaranty Corporation. ACTION: Notice of intent to request OMB approval of revised collection of information. AGENCY: The Pension Benefit Guaranty Corporation (PBGC) is modifying the collection of information under its regulation on Payment of Premiums (OMB control number 1212–0009; expiring June 30, 2021) and intends to request that the Office of Management and Budget (OMB) approve the revised collection of information under the Paperwork Reduction Act for three years. This notice informs the public of PBGC’s intent and solicits public comment on the collection of information. DATES: Comments must be submitted on or before September 30, 2019. 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: 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. jspears on DSK3GMQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 19:14 Jul 31, 2019 Jkt 247001 All submissions received must include the agency’s name (Pension Benefit Guaranty Corporation, or PBGC) and refer to Payment of Premiums. All comments received will be posted without change to PBGC’s website, http://www.pbgc.gov, including any personal information provided. Copies of the revisions to the collection 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. FOR FURTHER INFORMATION CONTACT: Melissa Rifkin (rifkin.melissa@ pbgc.gov), Attorney, Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026; 202–326–4400, extension 6563. (TTY users may call the Federal relay service toll-free at 800–877–8339 and ask to be connected to 202–326– 4400, extension 6563.) SUPPLEMENTARY INFORMATION: Section 4007 of title IV of the Employee Retirement Income Security Act of 1974 (ERISA) requires pension plans covered under title IV pension insurance programs to pay premiums to PBGC. All plans covered by title IV pay a flat-rate per-participant premium. An underfunded single-employer plan also pays a variable-rate premium based on the value of the plan’s unfunded vested benefits. Pursuant to section 4007, PBGC has issued its regulation on Payment of Premiums (29 CFR part 4007). Under § 4007.3 of the premium payment regulation, the plan administrator of each pension plan covered by title IV of ERISA is required to file a premium payment and information prescribed by PBGC for each premium payment year. Premium information is filed electronically using ‘‘My Plan Administration Account’’ (‘‘My PAA’’) through PBGC’s website. Under § 4007.10 of the premium payment regulation, plan administrators are required to retain records about premiums and information submitted in premium filings. Premium filings report (i) the flat-rate premium and related data (all plans), (ii) the variable-rate premium and related data (single-employer plans), and (iii) additional data such as identifying information and miscellaneous planrelated or filing-related data (all plans). PBGC needs this information to identify PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 the plans for which premiums are paid, to verify whether the amounts paid are correct, to help PBGC determine the magnitude of its exposure in the event of plan termination, to help track the creation of new plans and transfer of participants and plan assets and liabilities among plans, and to keep PBGC’s insured-plan inventory up to date. That information and the retained records are also needed for audit purposes. PBGC intends to modify the 2020 filing and instructions to require that plans offering a lump sum window 1 separately report the number of participants in pay status who were offered and elected a lump sum in addition to the related current requirement with respect to participants not in pay status. This change reflects recent guidance issued by the Internal Revenue Service.2 In addition, PBGC intends to change the reporting period for risk transfer activity (lump sum windows and annuity purchases). Rather than the period falling between 60 days before the prior filing and 60 days before the current filing, the reporting period will be the prior premium payment year. PBGC also intends to modify the filing instructions for a plan that reports that a premium filing will be the last for the plan and checks the ‘‘cessation of covered status’’ box as the reason. Currently, such a plan must provide an explanation as to why they believe coverage has ceased and then PBGC typically contacts the plan to verify that coverage has ceased. PBGC is proposing to add to the instructions that a plan that claims cessation of coverage status should complete a coverage determination request. PBGC intends to update the premium rates and make conforming, clarifying, and editorial changes to the premium filing instructions. The collection of information under the regulation has been approved through June 30, 2021, by OMB under control number 1212–0009. PBGC intends to request that OMB approve the revised collection of information for three years. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. PBGC estimates that it will receive 31,245 premium filings per year from 1 PBGC’s premium filing instructions define a lump sum window as a temporary opportunity to elect a lump sum in lieu of future annuity payments that is offered to individuals meeting specified criteria who would not otherwise be eligible to elect a lump sum. 2 See Notice 2019–18, 2019–13 I.R.B. 915. E:\FR\FM\01AUN1.SGM 01AUN1 Federal Register / Vol. 84, No. 148 / Thursday, August 1, 2019 / Notices 31,245 plan administrators under this collection of information. PBGC further estimates that the annual burden of this collection of information is 13,540 hours and $21,621,540. PBGC is soliciting public comments to— • Evaluate whether the proposed 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 proposed collection 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 collection 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. Issued in Washington, DC. Stephanie Cibinic, Deputy Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2019–16351 Filed 7–31–19; 8:45 am] BILLING CODE 7709–02–P POSTAL SERVICE Product Change—Priority Mail Negotiated Service Agreement Postal ServiceTM. ACTION: Notice. AGENCY: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Date of required notice: August 1, 2019. FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on July 26, 2019, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 542 to Competitive Product List. Documents jspears on DSK3GMQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 19:14 Jul 31, 2019 Jkt 247001 are available at www.prc.gov, Docket Nos. MC2019–175, CP2019–197. Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2019–16362 Filed 7–31–19; 8:45 am] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 33579; File No. 812–15014] ETF Opportunities Trust, et al.; Notice of Application July 29, 2019. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice. AGENCY: Notice of an application for an order under section 6(c) of the Investment Company Act of 1940 (the ‘‘Act’’) for an exemption from sections 2(a)(32), 5(a)(1), 22(d), and 22(e) of the Act and rule 22c–1 under the Act, under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and 17(a)(2) of the Act, and under section 12(d)(1)(J) for an exemption from sections 12(d)(1)(A) and 12(d)(1)(B) of the Act. The requested order would permit (a) actively-managed series of certain open-end management investment companies (‘‘Funds’’) to issue shares redeemable in large aggregations only (‘‘Creation Units’’); (b) secondary market transactions in Fund shares to occur at negotiated market prices rather than at net asset value (‘‘NAV’’); (c) certain Funds to pay redemption proceeds, under certain circumstances, more than seven days after the tender of shares for redemption; (d) certain affiliated persons of a Fund to deposit securities into, and receive securities from, the Fund in connection with the purchase and redemption of Creation Units; (e) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the Funds (‘‘Funds of Funds’’) to acquire shares of the Funds; and (f) certain Funds (‘‘Feeder Funds’’) to create and redeem Creations Units in-kind in a master-feeder structure. APPLICANTS: ETF Opportunities Trust (the ‘‘Trust’’), a Delaware statutory trust that is registered under the Act as an open-end management investment company with multiple series, Ridgeline Research LLC (the ‘‘Initial Adviser’’), a Delaware limited liability company that will be registered as an investment adviser under the Investment Advisers PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 37695 Act of 1940, and Foreside Fund Services, LLC (the ‘‘Initial Distributor’’). FILING DATES: The application was filed on March 29, 2019 and amended on June 6, 2019 and July 5, 2019. HEARING OR NOTIFICATION OF HEARING: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on August 23, 2019, and should be accompanied by proof of service on applicants, in the form of an affidavit, or for lawyers, a certificate of service. Pursuant to rule 0–5 under the Act, hearing requests should state the nature of the writer’s interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090; Applicants: ETF Opportunities Trust, 8730 Stony Point Parkway, Suite 205, Richmond, VA 23235; Ridgeline Research LLC, 14961 Finegan Farm Dr., Darnestown, Maryland 20874; and Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101. FOR FURTHER INFORMATION CONTACT: Thankam A. Varghese, Senior Counsel, at (202) 551–6446 or Parisa Haghshenas, Branch Chief, at (202) 551–6825 (Division of Investment Management, Chief Counsel’s Office). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission’s website by searching for the file number, or for an applicant using the Company name box, at http:// www.sec.gov/search/search.htm or by calling (202) 551–8090. Summary of the Application 1. Applicants request an order that would allow Funds to operate as actively-managed exchange traded funds (‘‘ETFs’’).1 Fund shares will be 1 Applicants request that the order apply to the initial Fund, as well as to future series of the Trust and any existing or future open-end management investment companies or series thereof (each, included in the term ‘‘Fund’’), each of which will operate as an actively-managed ETF, and their respective existing or future Master Funds. Any Fund will (a) be advised by the Initial Adviser or E:\FR\FM\01AUN1.SGM Continued 01AUN1

Agencies

[Federal Register Volume 84, Number 148 (Thursday, August 1, 2019)]
[Notices]
[Pages 37694-37695]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-16351]


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PENSION BENEFIT GUARANTY CORPORATION


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

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intent to request OMB approval of revised collection 
of information.

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

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is modifying 
the collection of information under its regulation on Payment of 
Premiums (OMB control number 1212-0009; expiring June 30, 2021) and 
intends to request that the Office of Management and Budget (OMB) 
approve the revised collection of information under the Paperwork 
Reduction Act for three years. This notice informs the public of PBGC's 
intent and solicits public comment on the collection of information.

DATES: Comments must be submitted on or before September 30, 2019.

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: [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 Payment of 
Premiums. All comments received will be posted without change to PBGC's 
website, http://www.pbgc.gov, including any personal information 
provided.
    Copies of the revisions to the collection 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.

FOR FURTHER INFORMATION CONTACT: Melissa Rifkin 
([email protected]), Attorney, Regulatory Affairs Division, 
Office of the General Counsel, Pension Benefit Guaranty Corporation, 
1200 K Street NW, Washington, DC 20005-4026; 202-326-4400, extension 
6563. (TTY users may call the Federal relay service toll-free at 800-
877-8339 and ask to be connected to 202-326-4400, extension 6563.)

SUPPLEMENTARY INFORMATION: Section 4007 of title IV of the Employee 
Retirement Income Security Act of 1974 (ERISA) requires pension plans 
covered under title IV pension insurance programs to pay premiums to 
PBGC. All plans covered by title IV pay a flat-rate per-participant 
premium. An underfunded single-employer plan also pays a variable-rate 
premium based on the value of the plan's unfunded vested benefits.
    Pursuant to section 4007, PBGC has issued its regulation on Payment 
of Premiums (29 CFR part 4007). Under Sec.  4007.3 of the premium 
payment regulation, the plan administrator of each pension plan covered 
by title IV of ERISA is required to file a premium payment and 
information prescribed by PBGC for each premium payment year. Premium 
information is filed electronically using ``My Plan Administration 
Account'' (``My PAA'') through PBGC's website. Under Sec.  4007.10 of 
the premium payment regulation, plan administrators are required to 
retain records about premiums and information submitted in premium 
filings.
    Premium filings report (i) the flat-rate premium and related data 
(all plans), (ii) the variable-rate premium and related data (single-
employer plans), and (iii) additional data such as identifying 
information and miscellaneous plan-related or filing-related data (all 
plans). PBGC needs this information to identify the plans for which 
premiums are paid, to verify whether the amounts paid are correct, to 
help PBGC determine the magnitude of its exposure in the event of plan 
termination, to help track the creation of new plans and transfer of 
participants and plan assets and liabilities among plans, and to keep 
PBGC's insured-plan inventory up to date. That information and the 
retained records are also needed for audit purposes.
    PBGC intends to modify the 2020 filing and instructions to require 
that plans offering a lump sum window \1\ separately report the number 
of participants in pay status who were offered and elected a lump sum 
in addition to the related current requirement with respect to 
participants not in pay status. This change reflects recent guidance 
issued by the Internal Revenue Service.\2\ In addition, PBGC intends to 
change the reporting period for risk transfer activity (lump sum 
windows and annuity purchases). Rather than the period falling between 
60 days before the prior filing and 60 days before the current filing, 
the reporting period will be the prior premium payment year.
---------------------------------------------------------------------------

    \1\ PBGC's premium filing instructions define a lump sum window 
as a temporary opportunity to elect a lump sum in lieu of future 
annuity payments that is offered to individuals meeting specified 
criteria who would not otherwise be eligible to elect a lump sum.
    \2\ See Notice 2019-18, 2019-13 I.R.B. 915.
---------------------------------------------------------------------------

    PBGC also intends to modify the filing instructions for a plan that 
reports that a premium filing will be the last for the plan and checks 
the ``cessation of covered status'' box as the reason. Currently, such 
a plan must provide an explanation as to why they believe coverage has 
ceased and then PBGC typically contacts the plan to verify that 
coverage has ceased. PBGC is proposing to add to the instructions that 
a plan that claims cessation of coverage status should complete a 
coverage determination request.
    PBGC intends to update the premium rates and make conforming, 
clarifying, and editorial changes to the premium filing instructions.
    The collection of information under the regulation has been 
approved through June 30, 2021, by OMB under control number 1212-0009. 
PBGC intends to request that OMB approve the revised collection of 
information for three years. An agency may not conduct or sponsor, and 
a person is not required to respond to, a collection of information 
unless it displays a currently valid OMB control number.
    PBGC estimates that it will receive 31,245 premium filings per year 
from

[[Page 37695]]

31,245 plan administrators under this collection of information. PBGC 
further estimates that the annual burden of this collection of 
information is 13,540 hours and $21,621,540.
    PBGC is soliciting public comments to--
     Evaluate whether the proposed 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 proposed collection 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 collection 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.

    Issued in Washington, DC.
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension 
Benefit Guaranty Corporation.
[FR Doc. 2019-16351 Filed 7-31-19; 8:45 am]
 BILLING CODE 7709-02-P