[Federal Register: September 18, 2002 (Volume 67, Number 181)]
[Notices]               
[Page 58829-58830]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18se02-122]                         

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PENSION BENEFIT GUARANTY CORPORATION

 
Proposed Submission of Information Collection for OMB Review; 
Comment Request; Locating and Paying 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 
request that the Office of Management

[[Page 58830]]

and Budget (``OMB'') extend its approval (with modifications) of 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. This notice informs the public of the PBGC's intent 
and solicits public comment on the collection of information.

ADDRESSES: Comments may be mailed to the Office of the General Counsel, 
suite 340, Pension Benefit Guaranty Corporation, 1200 K Street, NW., 
Washington, DC 20005-4026, or delivered to that address between 9 a.m. 
and 4 p.m. on business days. Copies of the collection of information 
may be obtained without charge by visiting or writing to the PBGC's 
Communications and Public Affairs Department at Suite 240 at the above 
address or by calling that office at 202-326-4040 during normal 
business hours. (For TTY and TDD, call 800-877-8339 and request 
connection to 202-326-4040).

DATES: Comments should be submitted by November 18, 2002.

FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Attorney, Office 
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street, NW., Washington, DC 20005-4026, 202-326-4024. (TTY/TDD users 
may call the Federal relay service toll-free at 1-800-877-8339 and ask 
to be connected to 202-326-4024.)

SUPPLEMENTARY INFORMATION: The PBGC intends to request that OMB extend 
its approval (with modifications) 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 collection also 
includes pages on the PBGC's web site, http://frwebgate.access.gpo.gov/cgi-bin/leaving.cgi?from=leavingFR.html&log=linklog&to=http://www.pbgc.gov, that, for certain 
large plans, provide respondents with specific information about their 
pension plan and enable them to obtain a rough estimate of their 
benefit, either by using an online benefit estimate calculator or by 
completing an online form and submitting it to the PBGC to compute an 
estimate.
    The existing collection of information under the regulation was 
approved under control number 1212-0055 (expires February 28, 2003). 
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 125,750 benefit application or information 
forms will be filed annually by individuals entitled to benefits from 
the PBGC and that the associated burden is 69,500 hours (an average of 
about one-half hour per response) and about $46,500. The PBGC further 
estimates that 5,500 individuals annually will provide the PBGC with 
identifying information as part of an initial contact and that the 
associated burden is 1,500 hours (an average of about one-quarter hour 
per response) and $1,100. Thus, the total estimated annual burden 
associated with this collection of information is 71,000 hours and 
about $47,600.
    The PBGC is soliciting public comments to--
    [sbull] 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;
    [sbull] 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;
    [sbull] Enhance the quality, utility, and clarity of the 
information to be collected; and
    [sbull] 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, DC, this 12th day of September, 2002.
Stuart A. Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit 
Guaranty Corporation.
[FR Doc. 02-23688 Filed 9-17-02; 8:45 am]
BILLING CODE 7708-01-P