Annual Funding Notice for Defined Benefit Pension Plans

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
AFN ss12.doc	Supporting Statement A	Uploaded 2012-10-09	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
38427	Annual Funding Notice for Defined Benefit Pension Plans		Modified

ICR Details

OMB Control No: 1210-0126	ICR Reference No: 201202-1210-004
Status: Historical Active	Previous ICR Reference No: 200805-1210-004
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Annual Funding Notice for Defined Benefit Pension Plans
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: 02/18/2013
	Date Received in OIRA: 10/19/2012
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2016	36 Months From Approved	02/28/2013
Responses	44,500,000	0	49,171,095
Time Burden (Hours)	977,000	0	1,093,173
Cost Burden (Dollars)	20,000,000	0	21,630,572

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Abstract: Pub. L. 108-218 amended section 101(f) of ERISA to require plan administrators of a defined benefit plan which is a multiemployer plan to each plan year furnish a plan funding notice to each plan participant and beneficiary, to each labor organization representing such participants or beneficiaries, to each employer that has an obligation to contribute under the plan, and to the Pension Benefit Guaranty Corporation. In August 2006, section 501(a) of the Pension Protection Act of 2006 (PPA)expanded the annual notice requirement to single-employer defined benefit plans. Section 501(c) of the PPA directs the Department to publish a model of the notice required by section 101(f) of ERISA, as amended, not later than one year after the date of enactment of the PPA. On February 10, 2009, the Department issued a Field Assistance Bulletin 2009-1 (the FAB) concerning the disclosure requirements mandated by the PPA, which provides model notices. The FAB addresses the need for interim guidance pending the adoption of regulations or other guidance under section 101(f) of ERISA by providing that pending further guidance, the Department will, as a matter of enforcement policy, treat a plan administrator as satisfying the requirements of section 101(f), if the administrator complies with the guidance contained in the FAB (and appropriately uses a completed model notice) and has acted in accordance with a good faith, reasonable interpretation of those requirements with respect to matters not specifically addressed in the FAB.

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Authorizing Statute(s): US Code: 29 USC 1021(f) Name of Law: Employee Retirement Income Security Act of 1974
  

Citations for New Statutory Requirements: US Code: 29 USC 1021(f) Name of Law: Employee Retirement Income Security Act of 1974

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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:
	77 FR 37920	06/25/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 64355	10/19/2012
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Annual Funding Notice for Defined Benefit Pension Plans

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ICR Summary of Burden

table that charts list 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	44,500,000	49,171,095	0	0	-4,671,095	0
Annual Time Burden (Hours)	977,000	1,093,173	0	0	-116,173	0
Annual Cost Burden (Dollars)	20,000,000	21,630,572	0	0	-1,630,572	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 Department updated the counts of affected entities to reflect the most current estimates. The number of defined benefit plans and participants in those plans continues to decrease over time. Also wage rates were adjusted to reflect the most current wage data.

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Annual Cost to Federal Government: $0

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: 10/19/2012

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