Disclosure of Termination Information

Forms and Documents

Document Name	Status
Supporting Statement final.doc Supporting Statement A	2007-12-05

IC Document Collections

IC ID	Document Title	Status
182656	Disclosure of Termination Information Instruction	New

ICR Details

OMB Control No: 1212-0065	ICR Reference No: 200711-1212-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: PBGC	Agency Tracking No:
Title: Disclosure of Termination Information
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 02/01/2008
	Date Received in OIRA: 12/05/2007
Terms of Clearance: Agency will submit any changes at the Final rulemaking stage.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Section 506 of the Pension Protection Act of 2006 (PPA 2006)requires that information submitted to PBGC in conjunction with a termination (either a distress or PBGC-initiated termination) must be provided to an affected party upon request. In a PBGC-initiated termination, The new provisions also require PBGC, in a PBGC-initiated termination, to provide its administrative record to an affected party upon request. Affected parties need the information required to be disclosed to them so that they will be informed about the proposed termination of their plan, and, in the case of a PBGC-initiated termination, the information relied upon by PBGC in determining that the plan must be terminated. Plan administrators, plan sponsors, or PBGC need the information from affected parties so that they can confirm the requester is a person who is entitled to the termination information under PPA 2006.

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Authorizing Statute(s): US Code: 29 USC 4041(c)(2)(D) Name of Law: Employee Retirement Income Security Act
   US Code: 29 USC 4042(c)(3) Name of Law: Employee Retirement Income Security Act
  

Citations for New Statutory Requirements: US Code: 29 USC 1342(c)(3) Name of Law: Employee Retirement Income Security Act
US Code: 29 USC 1341(c)(2) Name of Law: Employee Retirement Income Security Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1212-AB14	Proposed rulemaking	72 FR 68542	12/05/2007

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 68542	12/05/2007
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
Disclosure of Termination Information

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $45,900

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: 12/05/2007

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