Payment of Premiums (29 CFR part 4007)

Forms and Documents

Document Name	Status
Form Form 1-ES Payment of Premiums (29 CFR part 4007) Form	Modified
Sptg.stmt.v1.pdf Supporting Statement A	2007-06-08

IC Document Collections

IC ID	Document Title	Status
13518	Payment of Premiums (29 CFR part 4007) Form	Modified

ICR Details

OMB Control No: 1212-0009	ICR Reference No: 200706-1212-001
Status: Historical Inactive	Previous ICR Reference No: 200611-1212-001
Agency/Subagency: PBGC	Agency Tracking No:
Title: Payment of Premiums (29 CFR part 4007)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 08/27/2007
	Date Received in OIRA: 06/08/2007
Terms of Clearance: The information collection request associated with the Payment of Premiums proposed rule is not approved at this time. PBGC only has approval for use of the forms that are not being changed. PBGC will review public comments on the proposed rule and determine what changes need to be made to the collection. PBGC will resubmit the collection in conjunction with the final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2008	36 Months From Approved	04/30/2008
Responses	35,220	0	35,220
Time Burden (Hours)	3,478	0	3,478
Cost Burden (Dollars)	18,173,000	0	18,173,000

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Abstract: Administrators of PBGC-insured pension plans file with PBGC premium information and premium payments required under 29 USC 1307 and 29 CFR Part 4007, which also requires retention and production of records necessary to support premium filings. The information identifies payers and lets PBGC verify premium computations and perform premium audits. It also helps PBGC estimate its exposure if plans terminate, track movement of participants and assets, determine whether new plans are being created, and update its insured-plan inventory. The retained records facilitate audits.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: US Code: 29 USC 1306 Name of Law: Pension Protection Act of 2006

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1212-AB11	Proposed rulemaking	72 FR 30308	05/31/2007

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Payment of Premiums (29 CFR part 4007)	1-C, Form 1-ES	Estimated Premium Payment ,   Comprehensive Premium Filing

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is attributable primarily to an increase in the burden per respondent because of changes in the governing statute and in PBGC’s estimation of the time needed to make premium filings under the new rules (offset somewhat by a downward revision in PBGC’s estimate of the number of respondents) and secondarily to PBGC’s introduction of new premium information filing requirements. See Supporting Statement for more information.

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Annual Cost to Federal Government: $6,500,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 06/08/2007

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