[Federal Register: February 21, 1997 (Volume 62, Number 35)]
[Notices]
[Page 8057]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr21fe97-121]
[[Page 8057]]
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PENSION BENEFIT GUARANTY CORPORATION
Request for Comment on Proposed Collection of Information Under
the Paperwork Reduction Act; Locating and Paying Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intention to request OMB approval.
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SUMMARY: The Pension Benefit Guaranty Corporation intends to request
that the Office of Management and Budget approve a collection of
information under the Paperwork Reduction Act. The purpose of the
information collection is to enable the PBGC to pay benefits to
participants and beneficiaries in plans covered by the PBGC insurance
program.
ADDRESSES: All written comments should be addressed to: Office of
General Counsel, Pension Benefit Guaranty Corporation, Suite 340, 1200
K St. NW., Washington, D. C. 20005. The comments will be available for
public inspection at the PBGC Communications and Public Affairs
Department, Suite 240, 1200 K Street, NW., Washington, DC 20005,
between the hours of 9 a.m. and 4 p.m. A copy of the proposed
collection can be obtained, without charge, by writing to the PBGC the
above address.
FOR FURTHER INFORMATION CONTACT: Marc L. Jordan, Attorney, Office of
the General Counsel, Suite 340, 1200 K Street, NW., Washington, DC
20005, 202-326-4026 (202-326-4179 for TTY and TDD). (These are not
toll-free numbers.) A copy of the proposed collection can be obtained,
without charge, by writing to the PBGC at the above address.
SUPPLEMENTARY INFORMATION: The PBGC intends to request OMB approval of
a collection of information needed to pay participants and
beneficiaries who may be entitled to pension benefits under a defined
benefit plan that has terminated. The collection consists of
information participants and beneficiaries are asked to provide in
connection with an application for benefits. In addition, in some
instances, as part of a search for participants and beneficiaries who
may be entitled to benefits, the PBGC requests individuals to provide
identifying information that the individual would provide as part of an
initial contact with the PBGC. All requested information is needed to
enable the PBGC to determine benefit entitlements and to make
appropriate payments.
The PBGC estimates that it will request that 62,720 individuals
submit applications for benefits and that the associated burden is
30,360 hours (an average of slightly less than 30 minutes per
individual). The PBGC further estimates that 5,000 individuals will
provide the PBGC with identifying information as part of an initial
contact and that the associated burden is 1,250 hours (15 minutes per
individual). Thus, the total estimated burden associated with this
collection of information is 36,610 hours.
The PBGC solicits comments to:
(i) 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;
(ii) 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;
(iii) Enhance the quality, utility, and clarity of the information
to be collected; and
(iv) 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 at Washington, D.C., this 18th day of February, 1997.
Martin Slate,
Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 97-4344 Filed 2-20-97; 8:45 am]
BILLING CODE 7708-01-P