Submission of Information Collection for OMB Review; Comment Request; Locating and Paying Participants, 35838-35839 [2021-14440]

Download as PDF 35838 Federal Register / Vol. 86, No. 127 / Wednesday, July 7, 2021 / Notices PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collection for OMB Review; Comment Request; Locating and Paying Participants 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, to a collection of information (OMB Control Number 1212–0055; expires October 31, 2021) under the Paperwork Reduction Act. The purpose of the information collection is to enable PBGC to pay benefits to participants and beneficiaries. This notice informs the public of PBGC’s request and solicits public comment on the collection, as modified. DATES: Comments must be received on or before August 6, 2021 to be assured of consideration. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. A copy of the request will be posted on PBGC’s website at https:// www.pbgc.gov/prac/laws-andregulation/federal-register-notices-openfor-comment. 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: 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: This information collection is needed to pay khammond on DSKJM1Z7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:44 Jul 06, 2021 Jkt 253001 participants and beneficiaries who may be entitled to pension benefits from plans that have terminated. Participants and beneficiaries are asked to provide information in connection with an application for benefits. This includes requests to individuals to provide identifying information so that PBGC may determine whether the individuals are entitled to benefits. All requested information is needed so that PBGC may determine benefit entitlements and make appropriate payments. This information collection includes My Pension Benefit Account (MyPBA), an application on PBGC’s website, https://www.pbgc.gov, through which plan participants and beneficiaries may conduct electronic transactions with PBGC, including applying for pension benefits, designating a beneficiary, electing or changing federal income tax withholding from periodic payments, changing contact information, and applying for or changing electronic direct deposit. PBGC is proposing to eliminate one form (the Form 709), add four forms (form 700RN, form 700RSC, form 703RBD and form 703RBD–MP) and revise several other forms in this collection, specifically Forms: 700, 701, 702, 707, 708, 710, 711, 715, and 717. The proposed revisions include the following. • PBGC is proposing the addition of four new forms: Form 700RN, Form 700RSC, Form 703RBD and Form 703RBD–MP. Each is intended to improve customer service. (1) Form 700RN and Form 700RSC will be used in rare situations when participants who are already receiving benefits are given the opportunity to choose to elect a retroactive annuity starting date with a decrease to the annuity benefit. Form 700RN will be used by participants when spousal consent is not required, and Form 700RSC will be used by participants when spousal consent is required. PBGC will use this information to change the annuity starting date and reimburse the underpayment resulting from the retroactive annuity payment. (2) Form 703RBD and Form 703RBD– MP will be used in rare situations by participants who have reached their required beginning date (RBD) and are eligible to elect a lump sum payment in lieu of an annuity. Form 703RBD will be used for trusteed plan participants. Form 703RBD–MP will be used for participants claiming benefits under the Missing Participants Program and requires notarization of the participant’s signature as a fraud prevention measure. PBGC is separating participants who have reached their RBD from other PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 participants able to elect a lump sum payment to ensure that appropriate information is communicated to participants who have reached their RBD. • To Form 700, PBGC is proposing to remove the question that asks participants to designate beneficiaries for amounts owed at death and collect this information only on Form 707. This change is intended to reduce errors with customers completing Form 700. • To Form 701, PBGC is proposing to add a question asking for the gender of the participant’s spouse. PBGC uses this information for actuarial calculations required to operate the single-employer insurance program. • To Forms 701, 702, 707, and 708, PBGC is proposing to clarify the requested information about beneficiaries owed benefits upon the participant’s death. • To Forms 701and 710, PBGC is proposing to eliminate a question and information about Electronic Transfer Accounts (ETA), as this Department of the Treasury sponsored program ended. • To Form 711, PBGC is proposing to add a question for notarized spousal consent to the change in a beneficiary for a certain and continuous annuity. This change is intended to comply with applicable requirements under the Internal Revenue Code. • To Form 715, PBGC is proposing to clarify the instructions to improve customer service. • To Form 717, PBGC is proposing to eliminate questions asking for gender, the branch or division where the employee worked, lump sum amount and date paid, whether the lump sum was rolled over to an individual retirement account (IRA), and whether the employee is currently receiving retirement benefits. PBGC is proposing to add requests for the last dates of employment, information on the type of retirement plan, and information appearing on SSA Form L–99–C1. This addition will decrease the need for PBGC to follow up with customers for additional, required information and increase processing efficiency. PBGC is making editorial and formatting changes as well, including changing the design and appearance of MyPBA. PBGC believes these revisions will provide greater clarity to customers and improve their experience with the online system. The existing collection of information was approved under OMB control number 1212–0055 (expires October 31, 2021). On March 9, 2021, PBGC published in the Federal Register (at 86 FR 13590) a notice informing the public of its intent to request an extension of E:\FR\FM\07JYN1.SGM 07JYN1 Federal Register / Vol. 86, No. 127 / Wednesday, July 7, 2021 / Notices this collection of information, as modified. No comments were received. PBGC is requesting that OMB extend its approval (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 170,521 benefit application or information forms annually. The total annual burden associated with this collection of information is estimated to be 58,376 hours and an estimated $58,682, which is the total average maximum cost of notary services for participants’ or participants’ spouses’ signatures on applicable forms. Issued in Washington, DC, by Stephanie Cibinic, Deputy Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2021–14440 Filed 7–6–21; 8:45 am] BILLING CODE 7709–02–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2021–106 and CP2021–108] New Postal Products Postal Regulatory Commission. ACTION: Notice. AGENCY: 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: July 8, 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. SUMMARY: FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: khammond on DSKJM1Z7X2PROD with NOTICES 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 VerDate Sep<11>2014 17:44 Jul 06, 2021 Jkt 253001 35839 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 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. This Notice will be published in the Federal Register. II. Docketed Proceeding(s) Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange’s Transaction Credits and Charges at Equity 7, Section 118(a) 1. Docket No(s).: MC2021–106 and CP2021–108; Filing Title: USPS Request to Add Priority Mail Contract 709 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: June 30, 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: July 8, 2021. 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 00111 Fmt 4703 Sfmt 4703 Erica A. Barker, Secretary. [FR Doc. 2021–14414 Filed 7–6–21; 8:45 am] BILLING CODE 7710–FW–P RAILROAD RETIREMENT BOARD Sunshine Act Meetings 10:00 a.m., July 21, 2021. Members of the public wishing to attend the open portion of the meeting must submit a written request at least 24 hours prior to the meeting to receive dial-in information. All requests must be sent to SecretarytotheBoard@ rrb.gov. STATUS: The initial part of this meeting will be open to the public. The rest of the meeting will be closed to the public. TIME AND DATE: PLACE: Portions Open to the Public (1) Budget Briefing (2) Enterprise Risk Management (3) Legislative Briefing (4) Status of Appeals (5) Agency Operations Portions Closed to the Public (1) Personnel Matter CONTACT PERSON FOR MORE INFORMATION: Stephanie Hillyard, Secretary to the Board, (312) 751–4920. Authority: 5 U.S.C. 552b Dated: July 2, 2021. Stephanie Hillyard, Secretary to the Board. [FR Doc. 2021–14595 Filed 7–2–21; 4:15 pm] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92300; File No. SR– NASDAQ–2021–053] June 30, 2021. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on June 22, 2021, The Nasdaq Stock Market LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission 1 15 2 17 E:\FR\FM\07JYN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 07JYN1

Agencies

[Federal Register Volume 86, Number 127 (Wednesday, July 7, 2021)]
[Notices]
[Pages 35838-35839]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-14440]



[[Page 35838]]

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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Locating and Paying Participants

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, to a collection of information (OMB Control Number 1212-
0055; expires October 31, 2021) under the Paperwork Reduction Act. The 
purpose of the information collection is to enable PBGC to pay benefits 
to participants and beneficiaries. This notice informs the public of 
PBGC's request and solicits public comment on the collection, as 
modified.

DATES: Comments must be received on or before August 6, 2021 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    A copy of the request will be posted on PBGC's website at https://www.pbgc.gov/prac/laws-and-regulation/federal-register-notices-open-for-comment. 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: 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: This information collection is needed to pay 
participants and beneficiaries who may be entitled to pension benefits 
from plans that have terminated. Participants and beneficiaries are 
asked to provide information in connection with an application for 
benefits. This includes requests to individuals to provide identifying 
information so that PBGC may determine whether the individuals are 
entitled to benefits. All requested information is needed so that PBGC 
may determine benefit entitlements and make appropriate payments.
    This information collection includes My Pension Benefit Account 
(MyPBA), an application on PBGC's website, https://www.pbgc.gov, through 
which plan participants and beneficiaries may conduct electronic 
transactions with PBGC, including applying for pension benefits, 
designating a beneficiary, electing or changing federal income tax 
withholding from periodic payments, changing contact information, and 
applying for or changing electronic direct deposit.
    PBGC is proposing to eliminate one form (the Form 709), add four 
forms (form 700RN, form 700RSC, form 703RBD and form 703RBD-MP) and 
revise several other forms in this collection, specifically Forms: 700, 
701, 702, 707, 708, 710, 711, 715, and 717. The proposed revisions 
include the following.
     PBGC is proposing the addition of four new forms: Form 
700RN, Form 700RSC, Form 703RBD and Form 703RBD-MP. Each is intended to 
improve customer service.
    (1) Form 700RN and Form 700RSC will be used in rare situations when 
participants who are already receiving benefits are given the 
opportunity to choose to elect a retroactive annuity starting date with 
a decrease to the annuity benefit. Form 700RN will be used by 
participants when spousal consent is not required, and Form 700RSC will 
be used by participants when spousal consent is required. PBGC will use 
this information to change the annuity starting date and reimburse the 
underpayment resulting from the retroactive annuity payment.
    (2) Form 703RBD and Form 703RBD-MP will be used in rare situations 
by participants who have reached their required beginning date (RBD) 
and are eligible to elect a lump sum payment in lieu of an annuity. 
Form 703RBD will be used for trusteed plan participants. Form 703RBD-MP 
will be used for participants claiming benefits under the Missing 
Participants Program and requires notarization of the participant's 
signature as a fraud prevention measure. PBGC is separating 
participants who have reached their RBD from other participants able to 
elect a lump sum payment to ensure that appropriate information is 
communicated to participants who have reached their RBD.
     To Form 700, PBGC is proposing to remove the question that 
asks participants to designate beneficiaries for amounts owed at death 
and collect this information only on Form 707. This change is intended 
to reduce errors with customers completing Form 700.
     To Form 701, PBGC is proposing to add a question asking 
for the gender of the participant's spouse. PBGC uses this information 
for actuarial calculations required to operate the single-employer 
insurance program.
     To Forms 701, 702, 707, and 708, PBGC is proposing to 
clarify the requested information about beneficiaries owed benefits 
upon the participant's death.
     To Forms 701and 710, PBGC is proposing to eliminate a 
question and information about Electronic Transfer Accounts (ETA), as 
this Department of the Treasury sponsored program ended.
     To Form 711, PBGC is proposing to add a question for 
notarized spousal consent to the change in a beneficiary for a certain 
and continuous annuity. This change is intended to comply with 
applicable requirements under the Internal Revenue Code.
     To Form 715, PBGC is proposing to clarify the instructions 
to improve customer service.
     To Form 717, PBGC is proposing to eliminate questions 
asking for gender, the branch or division where the employee worked, 
lump sum amount and date paid, whether the lump sum was rolled over to 
an individual retirement account (IRA), and whether the employee is 
currently receiving retirement benefits. PBGC is proposing to add 
requests for the last dates of employment, information on the type of 
retirement plan, and information appearing on SSA Form L-99-C1. This 
addition will decrease the need for PBGC to follow up with customers 
for additional, required information and increase processing 
efficiency.
    PBGC is making editorial and formatting changes as well, including 
changing the design and appearance of MyPBA. PBGC believes these 
revisions will provide greater clarity to customers and improve their 
experience with the online system.
    The existing collection of information was approved under OMB 
control number 1212-0055 (expires October 31, 2021). On March 9, 2021, 
PBGC published in the Federal Register (at 86 FR 13590) a notice 
informing the public of its intent to request an extension of

[[Page 35839]]

this collection of information, as modified. No comments were received. 
PBGC is requesting that OMB extend its approval (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 170,521 benefit application or 
information forms annually. The total annual burden associated with 
this collection of information is estimated to be 58,376 hours and an 
estimated $58,682, which is the total average maximum cost of notary 
services for participants' or participants' spouses' signatures on 
applicable forms.

    Issued in Washington, DC, by
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension 
Benefit Guaranty Corporation.
[FR Doc. 2021-14440 Filed 7-6-21; 8:45 am]
BILLING CODE 7709-02-P
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