Proposed Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium, 68494-68495 [2019-26951]

Download as PDF 68494 Federal Register / Vol. 84, No. 241 / Monday, December 16, 2019 / Notices For the Nuclear Regulatory Commission. Daniel I. Doyle, Acting Chief, Storage and Transportation Licensing Branch, Division of Fuel Management, Office of Nuclear Material Safety and Safeguards. [FR Doc. 2019–27009 Filed 12–13–19; 8:45 am] BILLING CODE 7590–01–P PENSION BENEFIT GUARANTY CORPORATION Proposed Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium Pension Benefit Guaranty Corporation. ACTION: Notice of intent to request extension of OMB approval of collection of information. AGENCY: The Pension Benefit Guaranty Corporation (PBGC) intends to request the Office of Management and Budget (OMB) to extend approval, under the Paperwork Reduction Act, of a collection of information for the termination premium under its regulation on Payment of Premiums (29 CFR part 4007) (OMB control number 1212–0064; expires May 31, 2020), without change. This notice informs the public of PBGC’s intent and solicits public comment on the collection of information. DATES: Comments must be received on or before February 14, 2020 to be assured of consideration. ADDRESSES: Comments may be submitted by any of the following methods: • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the 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 termination premium information collection. All comments received will be posted without change to PBGC’s website, http:// www.pbgc.gov, including any personal information provided. Copies of the collection of information may 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 lotter on DSKBCFDHB2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 19:21 Dec 13, 2019 Jkt 250001 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; 202–229–6563. (TTY users may call the Federal Relay Service tollfree at 800–877–8339 and ask to be connected to 202–229–6563.) SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation (PBGC) administers the pension plan termination insurance program under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). Section 4006(a)(7) of ERISA provides for a ‘‘termination premium’’ (in addition to the flat-rate and variable-rate premiums under section 4006(a)(3) and (8) of ERISA) that is payable for three years following certain distress and involuntary plan terminations. PBGC’s regulations on Premium Rates (29 CFR part 4006) and Payment of Premiums (29 CFR part 4007) implement the termination premium. Sections 4007.3 and 4007.13(b) of the premium payment regulation require the filing of termination premium information and payments with PBGC. PBGC has promulgated Form T and instructions for paying the termination premium. In general, the termination premium applies where a single-employer plan terminates in a distress termination under ERISA section 4041(c) (unless contributing sponsors and controlled group members meet the bankruptcy liquidation requirements of ERISA section 4041(c)(2)(B)(i)) or in an involuntary termination under ERISA section 4042, and the termination date under section 4048 of ERISA is after 2005. The termination premium does not apply in certain cases where termination occurs during a bankruptcy proceeding filed before October 18, 2005. The termination premium is payable for three years. The same amount is payable each year. The amount of each payment is based on the number of participants in the plan as of the day before the termination date. In general, the amount of each payment is equal to $1,250 times the number of participants. However, the rate is increased from $1,250 to $2,500 in certain cases involving commercial airline or airline catering service plans. The termination premium is due on the 30th day of each of three consecutive 12-month periods. PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 The first 12-month period generally begins shortly after the termination date or after the conclusion of bankruptcy proceedings in certain cases. The termination premium and related information must be filed by a person liable for the termination premium. The persons liable for the termination premium are contributing sponsors and members of their controlled groups, determined on the day before the plan termination date. Interest on late termination premiums is charged at the rate imposed under section 6601(a) of the Internal Revenue Code, compounded daily, from the due date to the payment date. Penalties based on facts and circumstances may be assessed both for failure to timely pay the termination premium and for failure to timely file required related information and may be waived in appropriate circumstances. A penalty for late payment will not exceed the amount of termination premium paid late. Section 4007.10 of the premium payment regulation requires the retention of records supporting or validating the computation of premiums paid and requires that the records be made available to PBGC. OMB has approved the termination premium collection of information (Form T and instructions) under control number 1212–0064 through May 31, 2020. PBGC intends to request that OMB extend approval of this collection of information for three years, without change. 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 each year receive an average of about one filing for the first year a termination premium is due, one filing for the second year a termination premium is due, and one filing for the third year a termination premium is due, from a total of about 3 respondents. PBGC estimates that the total annual burden of—the collection of information will be about 15 minutes and $200. 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; E:\FR\FM\16DEN1.SGM 16DEN1 Federal Register / Vol. 84, No. 241 / Monday, December 16, 2019 / Notices • 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. 2019–26951 Filed 12–13–19; 8:45 am] BILLING CODE 7709–02–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2020–61 and CP2020–59; MC2020–62 and CP2020–60] 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: December 18, 2019. ADDRESSES: 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. SUMMARY: FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction II. Docketed Proceeding(s) lotter on DSKBCFDHB2PROD with NOTICES I. Introduction The Commission gives notice that the Postal Service filed request(s) for the Commission to consider matters related to negotiated service agreement(s). The request(s) may propose the addition or removal of a negotiated service agreement from the market dominant or the competitive product list, or the modification of an existing product VerDate Sep<11>2014 19:21 Dec 13, 2019 Jkt 250001 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 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 (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 3007.301.1 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 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).: MC2020–61 and CP2020–59; Filing Title: USPS Request to Add Priority Mail Express & Priority Mail Contract 109 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: December 9, 2019; Filing Authority: 39 U.S.C. 3642, 39 CFR 3020.30 et seq., and 39 CFR 3015.5; Public Representative: Christopher C. Mohr; Comments Due: December 18, 2019. 2. Docket No(s).: MC2020–62 and CP2020–60; Filing Title: USPS Request to Add Priority Mail Contract 577 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: December 9, 2019; Filing Authority: 39 U.S.C. 3642, 39 CFR 3020.30 et seq., and 39 CFR 3015.5; 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 00104 Fmt 4703 Sfmt 4703 68495 Public Representative: Christopher C. Mohr; Comments Due: December 18, 2019. This Notice will be published in the Federal Register. Ruth Ann Abrams, Acting Secretary. [FR Doc. 2019–26965 Filed 12–13–19; 8:45 am] BILLING CODE 7710–FW–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: December 16, 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 December 10, 2019, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 580 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2020–65, CP2020–64. SUMMARY: Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2019–26968 Filed 12–13–19; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail Express 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: December 16, 2019. FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby SUMMARY: E:\FR\FM\16DEN1.SGM 16DEN1

Agencies

[Federal Register Volume 84, Number 241 (Monday, December 16, 2019)]
[Notices]
[Pages 68494-68495]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26951]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collections for OMB Review; 
Comment Request; Payment of Premiums; Termination Premium

AGENCY: Pension Benefit Guaranty Corporation.

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

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

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to 
request the Office of Management and Budget (OMB) to extend approval, 
under the Paperwork Reduction Act, of a collection of information for 
the termination premium under its regulation on Payment of Premiums (29 
CFR part 4007) (OMB control number 1212-0064; expires May 31, 2020), 
without change. This notice informs the public of PBGC's intent and 
solicits public comment on the collection of information.

DATES: Comments must be received on or before February 14, 2020 to be 
assured of consideration.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the 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 termination premium 
information collection. All comments received will be posted without 
change to PBGC's website, http://www.pbgc.gov, including any personal 
information provided.
    Copies of the collection of information may 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; 202-229-6563. (TTY users 
may call the Federal Relay Service toll-free at 800-877-8339 and ask to 
be connected to 202-229-6563.)

SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation 
(PBGC) administers the pension plan termination insurance program under 
title IV of the Employee Retirement Income Security Act of 1974 
(ERISA). Section 4006(a)(7) of ERISA provides for a ``termination 
premium'' (in addition to the flat-rate and variable-rate premiums 
under section 4006(a)(3) and (8) of ERISA) that is payable for three 
years following certain distress and involuntary plan terminations. 
PBGC's regulations on Premium Rates (29 CFR part 4006) and Payment of 
Premiums (29 CFR part 4007) implement the termination premium. Sections 
4007.3 and 4007.13(b) of the premium payment regulation require the 
filing of termination premium information and payments with PBGC. PBGC 
has promulgated Form T and instructions for paying the termination 
premium.
    In general, the termination premium applies where a single-employer 
plan terminates in a distress termination under ERISA section 4041(c) 
(unless contributing sponsors and controlled group members meet the 
bankruptcy liquidation requirements of ERISA section 4041(c)(2)(B)(i)) 
or in an involuntary termination under ERISA section 4042, and the 
termination date under section 4048 of ERISA is after 2005. The 
termination premium does not apply in certain cases where termination 
occurs during a bankruptcy proceeding filed before October 18, 2005.
    The termination premium is payable for three years. The same amount 
is payable each year. The amount of each payment is based on the number 
of participants in the plan as of the day before the termination date. 
In general, the amount of each payment is equal to $1,250 times the 
number of participants. However, the rate is increased from $1,250 to 
$2,500 in certain cases involving commercial airline or airline 
catering service plans. The termination premium is due on the 30th day 
of each of three consecutive 12-month periods. The first 12-month 
period generally begins shortly after the termination date or after the 
conclusion of bankruptcy proceedings in certain cases.
    The termination premium and related information must be filed by a 
person liable for the termination premium. The persons liable for the 
termination premium are contributing sponsors and members of their 
controlled groups, determined on the day before the plan termination 
date. Interest on late termination premiums is charged at the rate 
imposed under section 6601(a) of the Internal Revenue Code, compounded 
daily, from the due date to the payment date. Penalties based on facts 
and circumstances may be assessed both for failure to timely pay the 
termination premium and for failure to timely file required related 
information and may be waived in appropriate circumstances. A penalty 
for late payment will not exceed the amount of termination premium paid 
late. Section 4007.10 of the premium payment regulation requires the 
retention of records supporting or validating the computation of 
premiums paid and requires that the records be made available to PBGC.
    OMB has approved the termination premium collection of information 
(Form T and instructions) under control number 1212-0064 through May 
31, 2020. PBGC intends to request that OMB extend approval of this 
collection of information for three years, without change. 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 each year receive an average of about 
one filing for the first year a termination premium is due, one filing 
for the second year a termination premium is due, and one filing for 
the third year a termination premium is due, from a total of about 3 
respondents. PBGC estimates that the total annual burden of--the 
collection of information will be about 15 minutes and $200.
    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;

[[Page 68495]]

     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. 2019-26951 Filed 12-13-19; 8:45 am]
BILLING CODE 7709-02-P