Proposed Submission of Information Collection for OMB Review; Comment Request; Mergers and Transfers Between Multiemployer Plans, 32983-32984 [2021-13131]

Download as PDF Federal Register / Vol. 86, No. 118 / Wednesday, June 23, 2021 / Notices other forms of information technology, e.g., permitting electronic submission of responses. Issued in Washington, DC. Hilary Duke, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. listed information collections, as provided in 5 CFR 1320.5(b)(2)(ii). Issued in Washington, DC. Hilary Duke, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2021–13135 Filed 6–22–21; 8:45 am] [FR Doc. 2021–13134 Filed 6–22–21; 8:45 am] BILLING CODE 7709–02–P BILLING CODE 7709–02–P PENSION BENEFIT GUARANTY CORPORATION PENSION BENEFIT GUARANTY CORPORATION Announcement of OMB Approvals of Information Collections Pension Benefit Guaranty Corporation. ACTION: Notice of OMB approval. AGENCY: jbell on DSKJLSW7X2PROD with NOTICES VerDate Sep<11>2014 17:13 Jun 22, 2021 Jkt 253001 Pension Benefit Guaranty Corporation. ACTION: Notice of intent to request extension of OMB approval of information collection. AGENCY: The Office of Management and Budget (OMB) has approved a Pension Benefit Guaranty Corporation (PBGC) information collection under the Paperwork Reduction Act. This notice lists the approved information collection and provides its OMB control number and current expiration date. 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 Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3501 et seq.) and its implementing regulations require Federal agencies, after receiving OMB approval of information collections, to display OMB control numbers and inform respondents of their legal significance. In accordance with those requirements, PBGC hereby notifies the public that the following information collection, that is contained in PBGC’s regulations and does not have a corresponding form, has been approved by OMB. • OMB Control Number 1212–0065 Disclosure of Information in Distress and PBGC-Initiated Terminations. The expiration date for this information collection contained in 29 CFR parts 4041 and 4042 is April 30, 2024. The PRA provides that 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. Publication of this notice satisfies this requirement with respect to the aboveSUMMARY: Proposed Submission of Information Collection for OMB Review; Comment Request; Mergers and Transfers Between Multiemployer Plans 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 a collection of information contained in PBGC’s regulation on Mergers and Transfers Between Multiemployer Plans. 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 August 23, 2021. ADDRESSES: Comments may be submitted by any of the following methods: • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. • Email: paperwork.comments@ pbgc.gov. Refer to OMB control number 1212–0022 in the subject line. • Mail or Hand Delivery: Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026. Commenters are strongly encouraged to submit public comments electronically. PBGC expects to have limited personnel available to process public comments that are submitted on paper through mail. Until further notice, any comments submitted on paper will be considered to the extent practicable. All submissions received must include the agency’s name (Pension Benefit Guaranty Corporation, or PBGC) and refer to OMB control number 1212– 0022. All comments received will be posted without change to PBGC’s website, https://www.pbgc.gov, including any personal information provided. SUMMARY: PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 32983 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: 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 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: Section 4231(a) and (b) of the Employee Retirement Income Security Act of 1974 (ERISA) requires plans that are involved in a merger or transfer to give PBGC 120 days notice of the transaction and provides that if PBGC determines that specified requirements are satisfied, the transaction will be deemed not to be in violation of ERISA section 406(a) or (b)(2) (dealing with prohibited transactions). PBGC’s regulation on Mergers and Transfers Between Multiemployer Plans (29 CFR part 4231) sets forth the procedures for giving notice of a merger or transfer under section 4231 and for requesting a compliance determination. The regulations specify the information that must be included in a merger or transfer notice. A request for a compliance determination must provide additional information to enable PBGC to make an explicit finding that the merger/transfer requirements have been satisfied. Section 4231(e) of ERISA clarifies PBGC’s authority to facilitate a merger (a ‘‘facilitated merger’’) of two or more multiemployer plans if certain statutory requirements are met. For purposes of section 4231(e), ‘‘facilitation’’ may include training, technical assistance, mediation, communication with stakeholders, and support with related requests to other government agencies. In addition, subject to the requirements of section 4231(e)(2), PBGC may provide financial assistance (within the meaning of section 4261 of ERISA) to facilitate a merger (a ‘‘financial assistance merger’’) it determines is necessary to enable one or more of the plans involved to avoid or postpone insolvency. PBGC’s regulations specify the information E:\FR\FM\23JNN1.SGM 23JNN1 jbell on DSKJLSW7X2PROD with NOTICES 32984 Federal Register / Vol. 86, No. 118 / Wednesday, June 23, 2021 / Notices requirements for a voluntary request for a facilitated merger under section 4231(e) of ERISA, including a financial assistance merger. PBGC uses information submitted by plan sponsors under the regulation to determine whether mergers and transfers conform to the requirements of ERISA section 4231 and the regulation. The collection of information under the regulation has been approved by OMB under control number 1212–0022 (expires November 30, 2021). PBGC intends to request that OMB extend its approval for another 3 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 there are 14 transactions each year (excluding financial assistance mergers). The estimated annual burden of the collection of information for 14 transactions (excluding financial assistance mergers) is 14 fund office hours and $84,400 in contractor costs for work by attorneys and actuaries. PBGC further estimates that there is one request each year for a financial assistance merger. The annual burden of the collection of information for financial assistance mergers is 10 fund office hours and $36,000 in contractor costs. The total annual burden of the collection of information is approximately 24 fund office hours and $120,400 in contractor costs. 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. VerDate Sep<11>2014 17:13 Jun 22, 2021 Jkt 253001 Issued in Washington, DC. Hilary Duke, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2021–13131 Filed 6–22–21; 8:45 am] BILLING CODE 7709–02–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2021–103 and CP2021–106] New Postal Products Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is noticing a recent Postal Service filing for the Commission’s consideration concerning a negotiated service agreement. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: June 24, 2021. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at https:// 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. FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: SUMMARY: 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 the interests of the general public in the proceeding, pursuant to 39 U.S.C. 505 (Public Representative). Section II also PO 00000 Frm 00103 Fmt 4703 Sfmt 9990 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 3011.301.1 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 3030, and 39 CFR part 3040, 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 3035, and 39 CFR part 3040, subpart B. Comment deadline(s) for each request appear in section II. II. Docketed Proceeding(s) 1. Docket No(s).: MC2021–103 and CP2021–106; Filing Title: USPS Request to Add Priority Mail Contract 707 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: June 16, 2021; Filing Authority: 39 U.S.C. 3642, 39 CFR 3040.130 through 3040.135, and 39 CFR 3035.105; Public Representative: Kenneth R. Moeller; Comments Due: June 24, 2021. This Notice will be published in the Federal Register. Erica A. Barker, Secretary. [FR Doc. 2021–13143 Filed 6–22–21; 8:45 am] BILLING CODE 7710–FW–P 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). E:\FR\FM\23JNN1.SGM 23JNN1

Agencies

Pension Benefit Guaranty Corporation

[Federal Register Volume 86, Number 118 (Wednesday, June 23, 2021)]
[Notices]
[Pages 32983-32984]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-13131]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Mergers and Transfers Between Multiemployer Plans

AGENCY: Pension Benefit Guaranty Corporation.

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

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

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 a collection of information 
contained in PBGC's regulation on Mergers and Transfers Between 
Multiemployer Plans. 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 August 23, 2021.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Refer to OMB control 
number 1212-0022 in the subject line.
     Mail or Hand Delivery: Regulatory Affairs Division, Office 
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street NW, Washington, DC 20005-4026.
    Commenters are strongly encouraged to submit public comments 
electronically. PBGC expects to have limited personnel available to 
process public comments that are submitted on paper through mail. Until 
further notice, any comments submitted on paper will be considered to 
the extent practicable.
    All submissions received must include the agency's name (Pension 
Benefit Guaranty Corporation, or PBGC) and refer to OMB control number 
1212-0022. All comments received will be posted without change to 
PBGC's website, https://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: 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 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: Section 4231(a) and (b) of the Employee 
Retirement Income Security Act of 1974 (ERISA) requires plans that are 
involved in a merger or transfer to give PBGC 120 days notice of the 
transaction and provides that if PBGC determines that specified 
requirements are satisfied, the transaction will be deemed not to be in 
violation of ERISA section 406(a) or (b)(2) (dealing with prohibited 
transactions).
    PBGC's regulation on Mergers and Transfers Between Multiemployer 
Plans (29 CFR part 4231) sets forth the procedures for giving notice of 
a merger or transfer under section 4231 and for requesting a compliance 
determination. The regulations specify the information that must be 
included in a merger or transfer notice. A request for a compliance 
determination must provide additional information to enable PBGC to 
make an explicit finding that the merger/transfer requirements have 
been satisfied.
    Section 4231(e) of ERISA clarifies PBGC's authority to facilitate a 
merger (a ``facilitated merger'') of two or more multiemployer plans if 
certain statutory requirements are met. For purposes of section 
4231(e), ``facilitation'' may include training, technical assistance, 
mediation, communication with stakeholders, and support with related 
requests to other government agencies. In addition, subject to the 
requirements of section 4231(e)(2), PBGC may provide financial 
assistance (within the meaning of section 4261 of ERISA) to facilitate 
a merger (a ``financial assistance merger'') it determines is necessary 
to enable one or more of the plans involved to avoid or postpone 
insolvency. PBGC's regulations specify the information

[[Page 32984]]

requirements for a voluntary request for a facilitated merger under 
section 4231(e) of ERISA, including a financial assistance merger.
    PBGC uses information submitted by plan sponsors under the 
regulation to determine whether mergers and transfers conform to the 
requirements of ERISA section 4231 and the regulation.
    The collection of information under the regulation has been 
approved by OMB under control number 1212-0022 (expires November 30, 
2021). PBGC intends to request that OMB extend its approval for another 
3 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 there are 14 transactions each year (excluding 
financial assistance mergers). The estimated annual burden of the 
collection of information for 14 transactions (excluding financial 
assistance mergers) is 14 fund office hours and $84,400 in contractor 
costs for work by attorneys and actuaries. PBGC further estimates that 
there is one request each year for a financial assistance merger. The 
annual burden of the collection of information for financial assistance 
mergers is 10 fund office hours and $36,000 in contractor costs. The 
total annual burden of the collection of information is approximately 
24 fund office hours and $120,400 in contractor costs.
    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.
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2021-13131 Filed 6-22-21; 8:45 am]
BILLING CODE 7709-02-P

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