Annual Funding Notice for Defined Benefit Pension Plans

Forms and Documents

Document	Type	Status	Availability
AnnualFundingNotice(AFN) 4-18-18.docx	Supporting Statement A	Uploaded 2018-04-18	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
38427	Annual Funding Notice for Defined Benefit Pension Plans	Other-Model Notice	Modified
205885	MAP-21	Other-MAP-21 Guidance Document	Modified

ICR Details

OMB Control No: 1210-0126	ICR Reference No: 201803-1210-002
Status: Historical Active	Previous ICR Reference No: 201504-1210-002
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: 08/09/2018
	Date Received in OIRA: 04/24/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2021	36 Months From Approved	08/31/2018
Responses	69,453,490	0	77,100,000
Time Burden (Hours)	712,917	0	576,000
Cost Burden (Dollars)	20,739,596	0	29,600,000

---

Abstract: This ICR seeks to extend PRA authority for the Annual Funding Notice for Defined Benefit Pension Plans information collection. Employee Retirement Income Security Act of 1974 (ERISA) section 101(f) sets forth the requirements applicable to furnishing defined benefit plan annual funding notices to the Pension Benefit Guarantee Corporation, each plan participant and beneficiary, each labor organization representing such participants or beneficiaries, and each employer obligated to make contributions to a multiemployer plan. An annual funding notice must include—among other things—the plan’s funding percentage, a statement of the value of the plan’s assets and liabilities and a description of how the plan’s assets are invested as of specific dates, and a description of the benefits under the plan that are eligible to be guaranteed by the PBGC. ERISA sections 101(f) and 102 authorize this information collection. See 29 U.S.C. 1021(f), 1022.

---

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

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 47581	10/12/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 17853	04/24/2018
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Annual Funding Notice for Defined Benefit Pension Plans
MAP-21

---

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	69,453,490	77,100,000	0	0	-7,646,510	0
Annual Time Burden (Hours)	712,917	576,000	0	0	136,917	0
Annual Cost Burden (Dollars)	20,739,596	29,600,000	0	0	-8,860,404	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’s estimate of the hour and cost burden associated with this information collection has changed as a result of updated inputs. The number of defined benefit plans and plan participants has decreased since the last submission, while the share of notices distributed electronically, the cost of labor, and the cost of postage has increased. This has produced a reduction in the number of notices sent, the number of paper notices sent, and the accompanying cost burden. The Department has revised its assumption on the time necessary for a clerical worker to process paper notices from one minute per paper notice to two minutes per paper notice. This change aligned this ICR with the Department’s assumption in similar ICRs and increased the estimated hour burden.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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

---

Common Form ICR:  No

---

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: 04/24/2018

---