Variances for Sale of Assets (29 CFR Part 4204)

Forms and Documents

Document Name	Status
multi0021supportingstatement.1062011.doc Supporting Statement A	2011-02-01

IC Document Collections

IC ID	Document Title	Status
13532	Variances for Sale of Assets (29 CFR Part 4204)	Modified

ICR Details

OMB Control No: 1212-0021	ICR Reference No: 201101-1212-016
Status: Historical Active	Previous ICR Reference No: 200802-1212-002
Agency/Subagency: PBGC	Agency Tracking No:
Title: Variances for Sale of Assets (29 CFR Part 4204)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/21/2011
	Date Received in OIRA: 02/01/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2014	36 Months From Approved	04/30/2011
Responses	23	0	24
Time Burden (Hours)	2	0	3
Cost Burden (Dollars)	5,513	0	6,210

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Abstract: An employer selling assets of a business covered by a multiemployer pension plan may have liability to the plan unless certain statutory rules are followed. The selling and buying empoyers may submit information prescribed by this regulation to PBGC or the plan with a request for a waiver of those rules. The information is needed to determine whether a waiver is appropriate.

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Authorizing Statute(s): US Code: 29 USC 1384 Name of Law: ERISA
  

Citations for New Statutory Requirements: None

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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:
	75 FR 70045	11/16/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 5220	01/28/2011
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
Variances for Sale of Assets (29 CFR Part 4204)

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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	23	24	0	0	-1	0
Annual Time Burden (Hours)	2	3	0	0	-1	0
Annual Cost Burden (Dollars)	5,513	6,210	0	1	-698	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 cost burden has decreased from $6,213 to $5,513 and the hour burden has descreased from 3 to 2 hours due to a decrease in the estimated number of variance requests per year from 2 to 1.

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Annual Cost to Federal Government: $1,070

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 02/01/2011

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