Paperwork
Reduction Act Notice
ERISA
section 4010
PBGC
needs this information, which is required to be submitted under
part 4010, to enable it (1) to detect and monitor financial
problems with the contributing sponsors that maintain severely
underfunded pension plans and their controlled group members, (2)
to respond quickly when it learns that a controlled group with
severely underfunded pension plans intends to engage in a
transaction that may significantly reduce the assets available to
pay plan liabilities, and (3) to take action to protect
participant and premium-payer interests.
The
information provided to PBGC under part 4010 is protected from
disclosure as provided in 29 CFR part 4010.13. That section
provides that in accordance with 29 CFR part 4901.21(a)(3) (part
of PBGC's regulation on Examination and Copying of PBGC Records)
and section 4010(c) of ERISA, any information or documentary
material that is not publicly available and is submitted to PBGC
pursuant to part 4010 shall not be made public, except as may be
relevant to any administrative or judicial action or proceeding
or for disclosures to either body of Congress or to any duly
authorized committee or subcommittee of the Congress.
PBGC
estimates the average burden of the collection of information is
8.8 hours and $16,000. These are estimates and the actual time
will vary depending on the circumstances of a given filing. If
you have any comments concerning the accuracy of these burden
estimates or suggestions for making it simpler to submit the
information, please send your comments to the Pension Benefit
Guaranty Corporation, Office of the General Counsel, 1200 K
Street, N.W., Washington, D.C. 20005-4026.
This
collection of information has been approved by the Office of
Management and Budget (OMB) under control number 1212-0049
(expires July 31, 2019). Under the Paperwork Reduction Act, an
agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB control number.
Reportable
Events
Post-Event
Notice of Reportable Events (Form 10). PBGC
needs this information, which is required to be filed under
section 4043 of ERISA and 29 CFR part 4043, Subparts A and B, so
that it can take action to protect participants and the
termination insurance program in appropriate cases.
Advance
Notice of Reportable Events (Form 10-Advance). PBGC
needs this information, which is required to be filed under
section 4043 of ERISA and 29 CFR part 4043, Subparts A and C, so
that it can take action to protect participants and the
termination insurance program in appropriate cases.
Information
provided to PBGC under section 4043 of ERISA is confidential to
the extent provided by the Freedom of Information Act, the
Privacy Act, and ERISA §4043(f).
PBGC
estimates the average burden of the collection of information is
5.5 hours and $740. If you have any comments concerning the
accuracy of this estimate or suggestions for improving this form,
please send your comments to the Pension Benefit Guaranty
Corporation, Regulatory Affairs Group, Office of the General
Counsel, 1200 K Street, NW, Washington, DC 20005-4026. This
collection of information has been approved by the Office of
Management and Budget (OMB) under control number 1212-0013
(expires November 30, 2018). An agency may not conduct or
sponsor, and a person is not required to respond to, a collection
of information unless it displays a currently valid OMB control
number.
Notice
of Failure to Make Required Contributions Over $1 Million (Form
200)
PBGC
needs this information, which is required to be filed under
section 303(k)(4) of ERISA and section 430(k)(4) of the Internal
Revenue Code (Code) and 29 CFR part 4043, Subparts A and D, to
make decisions regarding enforcement of a lien imposed by section
303(k)(1) of ERISA and section 430(k)(1) of the Code. Information
provided to PBGC is confidential to the extent provided in the
Freedom of Information Act and the Privacy Act.
PBGC
estimates the average burden of the collection of information is
6.0 hours and $890. These figures are estimates that will vary
depending on the nature and organizational structure of persons
liable for plan contributions (in particular, whether the plan's
contributing sponsor is a member of a controlled group and, if
so, the size of that group) and on the funding history of the
plan.
If
you have any comments concerning the accuracy of these time
estimates or suggestions for improving the form or these
instructions, please send your comments to the Pension Benefit
Guaranty Corporation, Regulatory Affairs Group, Office of the
General Counsel, 1200 K Street, NW, Washington, DC 20005-4026.
This
collection of information has been approved by the Office of
Management and Budget (OMB) under control number 1212-0041
(expires November 30, 2018). An agency may not conduct or
sponsor, and a person is not required to respond to, a collection
of information unless it displays a currently valid OMB control
number.
Duties
of Plan Sponsor Following Mass Withdrawal
Section
4281 of ERISA and 29 CFR part 4281 prescribe notice requirements
and rules under which multiemployer plan sponsors must: (1) give
notices of benefit reduction (i.e.,
of the adoption of a plan amendment reducing benefits) to PBGC
and to affected participants and beneficiaries, and a notice to
PBGC of any restoration of benefits; (2) give notices to PBGC and
to participants and beneficiaries that a plan is, or will be,
insolvent; (3) give notices of insolvency benefit level to PBGC
and to participants and beneficiaries; and (4) submit an
application to PBGC for financial assistance. Information
provided to PBGC is confidential to the extent provided in the
Freedom of Information Act and the Privacy Act.
This
information collection is necessary to assure the consistency and
adequate quality of notices required by law and to enable PBGC to
provide financial assistance to terminated plans in a timely
manner. PBGC uses the information it receives to make
determinations required by ERISA, to identify and estimate the
cash needed for financial assistance to terminated plans, and to
verify the appropriateness of financial assistance payments. Plan
participants and beneficiaries use the information to make
personal financial decisions.
PBGC
estimates the average burden of the collection of information is
20 hours and $27,800 per plan.. These are estimates and the time
and cost per plan will vary depending on the circumstances of a
given filing and the size of the plan. If you have any comments
concerning the accuracy of these burden estimates or suggestions
for making it simpler to submit the information, please send your
comments to the Pension Benefit Guaranty Corporation, Office of
the General Counsel, 1200 K Street, N.W., Washington, D.C.
20005-4026.
This
collection of information has been approved by the Office of
Management and Budget (OMB) under control number 1212-0032
(expires November 30, 2018). Under the Paperwork Reduction Act,
an agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information unless it
displays a currently valid OMB control number.
Termination
of Multiemployer Plans
Section
4041A of ERISA and 29 CFR part 4041A require the plan sponsor of
a terminated multiemployer plan to submit a notice of termination
containing basic information necessary to alert PBGC to possible
demands on the multiemployer insurance program. Plan sponsors
also are required to submit an application to PBGC for approval
to pay benefits
or benefit forms not otherwise permitted and to send notices to
plan participants and beneficiaries regarding the election of
alternative forms of benefit. PBGC
needs the information in the application to enable it to
determine whether the payment of benefits other than
nonforfeitable benefits or benefits valued at more than $1,750 in
other than annuity form are permissible. Information provided to
PBGC is confidential to the extent provided in the Freedom of
Information Act and the Privacy Act.
PBGC
estimates the average burden of the collection of information is
6.9 hours and $5,000 per plan. These are estimates and the actual
time and cost per plan will vary depending on the circumstances
of a given filing and plan size. If you have any comments
concerning the accuracy of these burden estimates or suggestions
for making it simpler to submit the information, please send your
comments to the Pension Benefit Guaranty Corporation, Office of
the General Counsel, 1200 K Street, N.W., Washington, D.C.
20005-4026.
This
collection of information has been approved by the Office of
Management and Budget (OMB) under control number 1212-0020
(expires November 30, 2018). Under the Paperwork Reduction Act,
an agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information unless it
displays a currently valid OMB control number.
Notice
of Insolvency
Section
4245(e) of ERISA and 29 CFR part 4245 require multiemployer plan
sponsors to give notices that a plan is, or will be, insolvent,
and to give notices of insolvency benefit level stating the level
of benefits that will be paid during an insolvency year. The
recipients of these notices are PBGC, contributing
employers, employee organizations representing participants, and
participants and beneficiaries. PBGC needs this information to
enable it to estimate cash needs for financial assistance to
insolvent plans. Information provided to PBGC is confidential to
the extent provided in the Freedom of Information Act and the
Privacy Act.
PBGC
estimates the average burden of the collection of information is
20 hours and $12,000. These are estimates and the actual time and
cost per plan will vary depending on the size of the plan. If you
have any comments concerning the accuracy of these burden
estimates or suggestions for making it simpler to submit the
information, please send your comments to the Pension Benefit
Guaranty Corporation, Office of the General Counsel, 1200 K
Street, N.W., Washington, D.C. 20005-4026.
This
collection of information has been approved by the Office of
Management and Budget (OMB) under control number 1212-0033
(expires November 30, 2018). Under the Paperwork Reduction Act,
an agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information unless it
displays a currently valid OMB control number.
|