Justification for OMB approval

Justification for OMB approval of no material or nonsubstantive change to
currently approved information collection 1212-0013
The Pension Protection Act of 2006 (PPA 2006) changed plan funding rules and the
related variable-rate premium (VRP) rules. PBGC’s reportable events regulation
contains provisions — dealing with waivers, extensions, and reporting thresholds — that
refer to the funding and VRP rules. PBGC has developed a proposed rule that would
amend the reportable events regulation to accommodate the changes (and make other
modifications), but practitioners need guidance about how to apply the existing regulation
before the final reportable events rule goes into effect sometime after the beginning of
2010.
Technical Update 09-4 would extend, for 2010, guidance that PBGC previously provided
for 2009. The 2010 guidance would be superseded by the final reportable events rule
when that becomes effective. The 2009 guidance that would be extended was provided
in two prior Technical Updates.
Technical Update 09-1 basically provided for a one-year look-back for
determining VRP values for purposes of the reportable events regulation. (One
special provision of the 2009 guidance — the “Form 1 extension” — is no longer
needed and would not be extended.)
Technical Update 09-3 basically waived reporting of missed quarterly
contributions for plans with 1 - 24 participants and provided a simplified reporting
option for plans with 25 - 99 participants.