Locating and Paying Participants

Forms and Documents

Document Name	Status
Form 715 Locating and Paying Participants Form and Instruction	Modified
Supporting statement 2OMB 080108.doc Supporting Statement A	2008-08-01

IC Document Collections

IC ID	Document Title	Status
13603	Locating and Paying Participants Form and Instruction	Modified

ICR Details

OMB Control No: 1212-0055	ICR Reference No: 200807-1212-006
Status: Historical Active	Previous ICR Reference No: 200611-1212-009
Agency/Subagency: PBGC	Agency Tracking No:
Title: Locating and Paying Participants
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/05/2008
	Date Received in OIRA: 08/01/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2011	36 Months From Approved	09/30/2008
Responses	89,100	0	225,600
Time Burden (Hours)	73,300	0	118,475
Cost Burden (Dollars)	3,100	0	78,000

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Abstract: This collection consists of information participants and beneficiaries are asked to provide in connection with an application for benefits or request for a benefit estimate. 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.

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Authorizing Statute(s): PL: Pub.L. 109 - 280 410 Name of Law: Pension Protection Act of 2006
   US Code: 29 USC 1322, 1350 Name of Law: Employee Retirement Security Act (ERISA)
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 280 410 Name of Law: Pension Protection Act of 2006

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 14255	03/21/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 44295	07/30/2008
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
Locating and Paying Participants	714, 719, 710, 711, 706, 721, 700, 701, 703MP, 708, 717, 704, 705, 718, 722, 703, 702, 715, 713, 720MP, 720, 709, 707, 720CD	Power of Attorney (POA) ,   Monthly Payment Election Form ,   Application for Elective Lump-Sum Payment ,   Application for Elective Lump-Sum Payment ,   Request for Earnings Information ,   Beneficiary Application for Pension Benefits ,   Beneficiary Application for Pension Benefits -- OF ,   Designation of Beneficiary for Benefits Owed at Death ,   Participant Application for Pension Benefits ,   Payee Information Form ,   General Information Form ,   Designation of Beneficiary ,   Plan Participation Information ,   Application for Electronic Direct Deposit ,   Change of Beneficiary for Certain & Continuous (C&C) Benefits Only ,   Application for Payment of Employee Contributions ,   Application for Payment of Employee Contributions -- Non-Spouse Beneficiary ,   Installment Payment Agreement ,   Election to Withhold Federal Income Tax from Periodic Payments ,   Application for Lump-Sum Payment ,   Application for Lump-Sum Payment ,   Application for Lum-Sum Payment ,   Application for Lump-Sum Payment -- Non-spouse Beneficiary or Estate ,   Financial Statement of Debtor

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	89,100	225,600	4,267	0	-140,767	0
Annual Time Burden (Hours)	73,300	118,475	6,267	0	-51,442	0
Annual Cost Burden (Dollars)	3,100	78,000	0	0	-74,900	0

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: The change in the estimate of the annual hour burden of this collection of information (from 118,475 hours in the current OMB inventory to the 73,300 hours requested) reflects a decrease in the estimate of the number of submissions and inquiries expected, due to a expected reduction in the number of participants and beneficiaries taken in by PBGC in newly trusteed plans. The decrease is somewhat offset by the expansion of PBGC’s Missing Participant Program under PPA 2006. The change in the estimate of the annual cost burden of this collection (from $78,475 in the current OMB inventory to $3,100 requested) reflects a sharp reduction in the postage expenses incurred by participants and beneficiaries as a result of PBGC’s practice of providing self-addressed stamped envelopes to a large proportion of all individuals who submit forms or applications to PBGC and to an increase in the use of My PBA.

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Annual Cost to Federal Government: $7,423,067

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: 08/01/2008

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