Submission of Information Collection for OMB Review; Comment Request; Annual Reporting (Form 5500 Series), 61658-61659 [2019-24619]
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Federal Register / Vol. 84, No. 219 / Wednesday, November 13, 2019 / Notices
information that does not display a
valid Control Number. See 5 CFR
1320.5(a) and 1320.6.
Interested parties are encouraged to
provide comments to the contact shown
in the ADDRESSES section. Written
comments will receive consideration,
and summarized and included in the
request for OMB approval of the final
ICR. In order to help ensure appropriate
consideration, comments should
mention 1240–0048.
Submitted comments will also be a
matter of public record for this ICR and
posted on the internet, without
redaction. The DOL encourages
commenters not to include personally
identifiable information, confidential
business data, or other sensitive
statements/information in any
comments.
The DOL is particularly interested in
comments that:
• 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
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 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.
Agency: DOL–OWCP.
Type of Review: Extension.
Title of Collection: Notice of Issuance
of Insurance Policy.
Form: Notice of Issuance of Insurance
Policy, CM–921.
OMB Control Number: 1240–0048.
Affected Public: Federal government,
State, Local, or Tribal Government.
Estimated Number of Respondents:
3,450.
Frequency: Annually.
Total Estimated Annual Responses:
3,450.
Estimated Average Time per
Response: 1 minute.
Estimated Total Annual Burden
Hours: 58 hours.
Total Estimated Annual Other Cost
Burden: $0.
VerDate Sep<11>2014
17:23 Nov 12, 2019
Jkt 250001
Authority: 30 U.S.C. 901 and 20 CFR
725.535.
Anjanette Suggs,
Agency Clearance Officer.
[FR Doc. 2019–24620 Filed 11–12–19; 8:45 am]
BILLING CODE 4510–CK–P
PENSION BENEFIT GUARANTY
CORPORATION
Submission of Information Collection
for OMB Review; Comment Request;
Annual Reporting (Form 5500 Series)
Pension Benefit Guaranty
Corporation.
ACTION: Notice of request for extension
of OMB approval, with modifications.
AGENCY:
The Pension Benefit Guaranty
Corporation (PBGC) is requesting that
the Office of Management and Budget
(OMB) extend approval, with
modifications, under the Paperwork
Reduction Act of 1995, of its collection
of information for Annual Reporting.
This notice informs the public of
PBGC’s request and solicits public
comment on the collection.
DATES: Comments must be submitted by
December 13, 2019.
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_
submission@omb.eop.gov or by fax to
(202) 395–6974.
A copy of the request will be posted
on PBGC’s website at: https://
www.pbgc.gov/prac/laws-andregulations/information-collectionsunder-omb-review. It may also be
obtained without charge by writing to
the Disclosure Division of the Office of
the General Counsel of PBGC, 1200 K
Street NW, Washington, DC 20005–
4026; faxing a request to 202–326–4042;
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). The Disclosure Division
will email, fax, or mail the information
to you, as you request.
FOR FURTHER INFORMATION CONTACT:
Karen Levin (levin.karen@pbgc.gov),
Attorney, Regulatory Affairs Division,
Office of the General Counsel, Pension
Benefit Guaranty Corporation, 1200 K
Street NW, Washington, DC 20005–
4026, 202 229–3559. TTY users may call
the Federal Relay Service toll-free at
800–877–8339 and ask to be connected
to 202–229–3559.
SUMMARY:
PO 00000
Frm 00065
Fmt 4703
Sfmt 4703
Annual
reporting to the Internal Revenue
Service (IRS), the Employee Benefits
Security Administration (EBSA), and
the Pension Benefit Guaranty
Corporation (PBGC) is required by law
for most employee benefit plans. For
example, section 4065 of the Employee
Retirement Income Security Act of 1974
(ERISA) requires annual reporting to
PBGC for pension plans covered by title
IV of ERISA. To accommodate these
filing requirements, IRS, EBSA and
PBGC have jointly promulgated the
Form 5500 Series, which includes the
Form 5500 Annual Return/Report of
Employee Benefit Plan and the Form
5500–SF Short Form Annual Return/
Report of Small Employee Benefit Plan.
PBGC is proposing modifications to
the 2020 Schedule R (Retirement Plan
Information) and its related instructions.
Schedule R is part of the Form 5500
Series. The proposed modifications to
Schedule R affect multiemployer
defined benefit plans covered by title IV
of ERISA. PBGC also is proposing minor
modifications to the Form 5500 Series to
improve the accuracy of reported
information. The modifications are
described in greater detail in the
supporting statement submitted to OMB
with this information collection, along
with PBGC’s rationale for each
modification.
Section 103(f)(2)(C) of ERISA requires
that a multiemployer defined benefit
plan include in its annual report, ‘‘[t]he
number of participants under the plan
on whose behalf no contributions were
made by an employer as an employer of
the participant for such plan year and
for each of the 2 preceding plan years.’’
Line 14a of Schedule R requires the plan
to report the inactive participant counts
for the current plan year’s filing. Lines
14b and 14c require the plan to report
the inactive participant counts for the
previous two respective plan years.
PBGC has found a majority of plans that
are required to report do not provide
accurate information on line 14 of
Schedule R.
The current instructions for line 14
require multiemployer plans to count
inactive participants using the last
contributing employer counting method.
Under the last contributing employer
method, a plan counts only those
inactive participants whose last
contributing employer withdrew from
the plan by the beginning of the relevant
plan year for which the Form 5500
relates. The plan does not count any
inactive participants whose employers
had not withdrawn from the plan.
PBGC is proposing to modify
Schedule R to provide multiemployer
plans with a choice of the last
SUPPLEMENTARY INFORMATION:
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61659
Federal Register / Vol. 84, No. 219 / Wednesday, November 13, 2019 / Notices
contributing employer counting method
and two other proposed counting
methods: The alternative method and
the reasonable approximation method.
PBGC anticipates that providing plans
with three available counting methods
will allow each plan to choose the
counting method that will be most
accurate and least burdensome for the
plan to count its inactive participants.
Under the alternative method, a plan
would count only those inactive
participants whose last contributing
employer and all prior contributing
employers had withdrawn from the plan
by the beginning of the relevant plan
year. Under this method, the plan
would review the list of all contributing
employers (employers that had not
withdrawn from the plan by the
beginning of the relevant plan year), and
include on Line 14 only those inactive
participants who had no covered service
with any of these employers.
Under the reasonable approximation
method, a plan that is unable to use the
other two counting methods must make
a reasonable, good faith effort to count
inactive participants to satisfy the
requirements of section 103(f)(2)(C) of
ERISA. The plan would also be required
to provide an attachment that explains
the plan’s approximation method,
including a description of the data and
a breakdown describing the number of
clearly identified inactive participants
and the number of estimated inactive
participants.
PBGC is also proposing that when a
plan reports a number on line 14b or
14c that differs from the number it
reported for the plan year immediately
preceding the current plan year, it
would be required to submit an
attachment with an explanation of the
reason for the change.
Both attachments will provide PBGC
with data to be used in its Pension
Insurance Modeling System (PIMS).
PBGC’s evaluation of the data submitted
in the attachments will allow PBGC to
review the integrity of the data. PBGC
estimates that the proposed changes
would have an offsetting effect and
would not change the hour or cost
burden for the Schedule R.
The existing collection of information
was approved under OMB control
number 1212–0057 (expires January 31,
2022). On August 20, 2019, PBGC
published in the Federal Register (at 84
FR 43189) a notice informing the public
of its intent to request an extension of
this collection of information, as
modified. PBGC received one comment
in support of the collection of
information. PBGC is requesting that
OMB extend approval of the collection,
with modifications, 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
approximately 24,800 Form 5500 and
Form 5500–SF filings per year under
this collection of information. PBGC
further estimates that the total annual
burden of this collection of information
for PBGC will be 1,200 hours and
$1,664,000.
Issued in Washington, DC, by
Hilary Duke,
Assistant General Counsel for Regulatory
Affairs, Pension Benefit Guaranty
Corporation.
[FR Doc. 2019–24619 Filed 11–12–19; 8:45 am]
BILLING CODE 7709–02–P
POSTAL REGULATORY COMMISSION
Notice Initiating Docket(s) for Recent
Postal Service Negotiated Service
Agreement Filings
Docket No.
Competitive Product Prices, Priority Mail Contract 473, (MC2019–12), Negotiated Service Agreements .....................................
Competitive Product Prices, Priority Mail & First-Class Package Service Contracts, Priority Mail & First-Class Package Service, Contract 125.
Competitive Product Prices, Priority Mail & First-Class Package Service, Contract 125 (MC2020–21), Negotiated Service
Agreements.
Competitive Product Prices, Priority Mail Contracts, Priority Mail Contract 559 .............................................................................
Competitive Product Prices, Priority Mail Contract 559, (MC2020–22), Negotiated Service Agreements .....................................
Issued November 7, 2019.
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
17:23 Nov 12, 2019
Jkt 250001
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 website (https://
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
3007.301.1
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
1 See Docket No. RM2018–3, Order Adopting
Final Rules Relating to Non-Public Information,
June 27, 2018, Attachment A at 19–22 (Order No.
4679).
PO 00000
Frm 00066
Fmt 4703
Sfmt 4703
CP2019–12
MC2020–21
CP2020–20
MC2020–22
CP2020–21
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).: CP2019–12; Filing
Title: USPS Notice of Amendment to
Priority Mail Contract 473, Filed Under
Seal; Filing Acceptance Date: November
6, 2019; Filing Authority: 39 CFR
3015.5; Public Representative: Kenneth
R. Moeller; Comments Due: November
15, 2019.
2. Docket No(s).: MC2020–21 and
CP2020–20; Filing Title: USPS Request
to Add Priority Mail & First-Class
Package Service Contract 125 to
E:\FR\FM\13NON1.SGM
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]]>Agencies
[Federal Register Volume 84, Number 219 (Wednesday, November 13, 2019)]
[Notices]
[Pages 61658-61659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24619]
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PENSION BENEFIT GUARANTY CORPORATION
Submission of Information Collection for OMB Review; Comment
Request; Annual Reporting (Form 5500 Series)
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of request for extension of OMB approval, with
modifications.
-----------------------------------------------------------------------
SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting
that the Office of Management and Budget (OMB) extend approval, with
modifications, under the Paperwork Reduction Act of 1995, of its
collection of information for Annual Reporting. This notice informs the
public of PBGC's request and solicits public comment on the collection.
DATES: Comments must be submitted by December 13, 2019.
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 [email protected] or by fax to (202) 395-6974.
A copy of the request will be posted on PBGC's website at: https://www.pbgc.gov/prac/laws-and-regulations/information-collections-under-omb-review. It may also be obtained without charge by writing to the
Disclosure Division of the Office of the General Counsel of PBGC, 1200
K Street NW, Washington, DC 20005-4026; faxing a request to 202-326-
4042; 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). The Disclosure Division will email, fax,
or mail the information to you, as you request.
FOR FURTHER INFORMATION CONTACT: Karen Levin ([email protected]),
Attorney, Regulatory Affairs Division, Office of the General Counsel,
Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC
20005-4026, 202 229-3559. TTY users may call the Federal Relay Service
toll-free at 800-877-8339 and ask to be connected to 202-229-3559.
SUPPLEMENTARY INFORMATION: Annual reporting to the Internal Revenue
Service (IRS), the Employee Benefits Security Administration (EBSA),
and the Pension Benefit Guaranty Corporation (PBGC) is required by law
for most employee benefit plans. For example, section 4065 of the
Employee Retirement Income Security Act of 1974 (ERISA) requires annual
reporting to PBGC for pension plans covered by title IV of ERISA. To
accommodate these filing requirements, IRS, EBSA and PBGC have jointly
promulgated the Form 5500 Series, which includes the Form 5500 Annual
Return/Report of Employee Benefit Plan and the Form 5500-SF Short Form
Annual Return/Report of Small Employee Benefit Plan.
PBGC is proposing modifications to the 2020 Schedule R (Retirement
Plan Information) and its related instructions. Schedule R is part of
the Form 5500 Series. The proposed modifications to Schedule R affect
multiemployer defined benefit plans covered by title IV of ERISA. PBGC
also is proposing minor modifications to the Form 5500 Series to
improve the accuracy of reported information. The modifications are
described in greater detail in the supporting statement submitted to
OMB with this information collection, along with PBGC's rationale for
each modification.
Section 103(f)(2)(C) of ERISA requires that a multiemployer defined
benefit plan include in its annual report, ``[t]he number of
participants under the plan on whose behalf no contributions were made
by an employer as an employer of the participant for such plan year and
for each of the 2 preceding plan years.'' Line 14a of Schedule R
requires the plan to report the inactive participant counts for the
current plan year's filing. Lines 14b and 14c require the plan to
report the inactive participant counts for the previous two respective
plan years. PBGC has found a majority of plans that are required to
report do not provide accurate information on line 14 of Schedule R.
The current instructions for line 14 require multiemployer plans to
count inactive participants using the last contributing employer
counting method. Under the last contributing employer method, a plan
counts only those inactive participants whose last contributing
employer withdrew from the plan by the beginning of the relevant plan
year for which the Form 5500 relates. The plan does not count any
inactive participants whose employers had not withdrawn from the plan.
PBGC is proposing to modify Schedule R to provide multiemployer
plans with a choice of the last
[[Page 61659]]
contributing employer counting method and two other proposed counting
methods: The alternative method and the reasonable approximation
method. PBGC anticipates that providing plans with three available
counting methods will allow each plan to choose the counting method
that will be most accurate and least burdensome for the plan to count
its inactive participants.
Under the alternative method, a plan would count only those
inactive participants whose last contributing employer and all prior
contributing employers had withdrawn from the plan by the beginning of
the relevant plan year. Under this method, the plan would review the
list of all contributing employers (employers that had not withdrawn
from the plan by the beginning of the relevant plan year), and include
on Line 14 only those inactive participants who had no covered service
with any of these employers.
Under the reasonable approximation method, a plan that is unable to
use the other two counting methods must make a reasonable, good faith
effort to count inactive participants to satisfy the requirements of
section 103(f)(2)(C) of ERISA. The plan would also be required to
provide an attachment that explains the plan's approximation method,
including a description of the data and a breakdown describing the
number of clearly identified inactive participants and the number of
estimated inactive participants.
PBGC is also proposing that when a plan reports a number on line
14b or 14c that differs from the number it reported for the plan year
immediately preceding the current plan year, it would be required to
submit an attachment with an explanation of the reason for the change.
Both attachments will provide PBGC with data to be used in its
Pension Insurance Modeling System (PIMS). PBGC's evaluation of the data
submitted in the attachments will allow PBGC to review the integrity of
the data. PBGC estimates that the proposed changes would have an
offsetting effect and would not change the hour or cost burden for the
Schedule R.
The existing collection of information was approved under OMB
control number 1212-0057 (expires January 31, 2022). On August 20,
2019, PBGC published in the Federal Register (at 84 FR 43189) a notice
informing the public of its intent to request an extension of this
collection of information, as modified. PBGC received one comment in
support of the collection of information. PBGC is requesting that OMB
extend approval of the collection, with modifications, 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 approximately 24,800 Form 5500
and Form 5500-SF filings per year under this collection of information.
PBGC further estimates that the total annual burden of this collection
of information for PBGC will be 1,200 hours and $1,664,000.
Issued in Washington, DC, by
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit
Guaranty Corporation.
[FR Doc. 2019-24619 Filed 11-12-19; 8:45 am]
BILLING CODE 7709-02-P
