[Federal Register: May 31, 2006 (Volume 71, Number 104)]
[Notices]
[Page 30968-30969]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr31my06-147]
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PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collection for OMB Review;
Comment Request; Disclosure to Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intention to request extension of OMB approval.
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SUMMARY: The Pension Benefit Guaranty Corporation (``PBGC'') intends to
[[Page 30969]]
request that the Office of Management and Budget (``OMB'') extend
approval, under the Paperwork Reduction Act, of the collection of
information under its regulation on Disclosure to Participants, 29 CFR
part 4011 (OMB control number 1212-0050; expires December 31, 2006).
This notice informs the public of the PBGC's intent and solicits public
comment on the collection of information.
DATES: Comments should be submitted by July 31, 2006.
ADDRESSES: Comments may be mailed to the Legislative and Regulatory
Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW.,
Washington, DC 20005-4026, or delivered to that address during normal
business hours. Comments also may be submitted by e-mail to
paperwork.comments@pbgc.gov, or by fax to 202-326-4224. The PBGC will
make all comments available on its Web site at http://www.pbgc.gov.
Copies of the collection of information may also be obtained
without charge by writing to the Disclosure Division of the Office of
the General Counsel of PBGC at the above address or by visiting the
Disclosure Division or calling 202-326-4040 during normal business
hours. (TTY and TDD users may call the Federal relay service toll-free
at 1-800-877-8339 and ask to be connected to 202-326-4040.) The
Disclosure to Participants regulation may be accessed on the PBGC's Web
site athttp://www.pbgc.gov.
FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Attorney,
Legislative and Regulatory Department, Pension Benefit Guaranty
Corporation, 1200 K Street, NW., Washington, DC 20005-4026, 202-326-
4024. (For TTY and TDD, call 800-877-8339 and request connection to
202-326-4024).
SUPPLEMENTARY INFORMATION: Section 4011 of the Employee Retirement
Income Security Act of 1974 requires plan administrators of certain
underfunded single-employer pension plans to provide an annual notice
to plan participants and beneficiaries of the plan's funding status and
the limits on the PBGC's guarantee.
The PBGC's regulation implementing this provision (29 CFR part
4011) prescribes which plans are subject to the notice requirement, who
is entitled to receive the notice, and the time, form, and manner of
issuance of the notice. The notice provides recipients with meaningful,
understandable, and timely information that will help them become
better informed about their plans and assist them in their financial
planning.
The collection of information under the regulation has been
approved by OMB under control number 1212-0050 through December 31,
2006. The PBGC intends to request that OMB extend its approval for
another 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.
The PBGC estimates that an average of 4,702 plans per year will
respond to this collection of information. The PBGC further estimates
that the average annual burden of this collection of information is
2.51 hours and $690 per plan, with an average total annual burden of
11,800 hours and $3,244,863.
The PBGC is soliciting public comments to--
Evaluate whether the 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
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.
Issued in Washington, DC, this 24th day of May 2006.
Cris Birch,
Acting Chief Technology Officer, Pension Benefit Guaranty Corporation.
[FR Doc. E6-8316 Filed 5-30-06; 8:45 am]
BILLING CODE 7708-01-P