Termination of Multiemployer Plans (29 CFR Part 4041A)

Forms and Documents

Document Name	Status
Form 001 Termination of Multiemployer Plans (29 CFR Part 4041A) Form	Modified
multi 0020 prpsd rule 6-29-18.docx Supporting Statement A	2018-12-11

IC Document Collections

IC ID	Document Title	Status
13529	Termination of Multiemployer Plans (29 CFR Part 4041A) Form	Modified

ICR Details

OMB Control No: 1212-0020	ICR Reference No: 201812-1212-001
Status: Historical Inactive	Previous ICR Reference No: 201807-1212-001
Agency/Subagency: PBGC	Agency Tracking No:
Title: Termination of Multiemployer Plans (29 CFR Part 4041A)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 04/01/2019
	Date Received in OIRA: 12/11/2018
Terms of Clearance: In accordance with 5 CFR 1320, the information collection is not approved at this time. Prior to publication of the final rule, the agency should provide to OMB a summary of all comments received on the proposed information collection and identify any changes made in response to these comments.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2021	36 Months From Approved	11/30/2021
Responses	1,000	0	1,000
Time Burden (Hours)	69	0	69
Cost Burden (Dollars)	50,000	0	50,000

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Abstract: Plan sponsors of terminating multiemployer pension plans give notices to PBGC about plan terminations and to plan participants about electing benefit options, and apply to PBGC for permission to pay lump sums greater than $1,750 or to pay nonvested plan benefits. Plan sponsors of terminated plans and insolvent plans file actuarial valuations and withdrawal liability information with PBGC. PBGC uses information submitted to it to assess the likelihood of benefit reductions or suspensions and risks to PBGC and participants and to estimate the need for financial assistance to plans. Participants use information sent to them to make personal financial decisions.

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Authorizing Statute(s): US Code: 29 USC 1341a 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:
1212-AB38	Proposed rulemaking	83 FR 32815	07/16/2018

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Federal Register Notices & Comments

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
Termination of Multiemployer Plans (29 CFR Part 4041A)	002, 003, 001	Notice of Termination ,   Withdrawal Liability Information ,   Actuarial Valuation

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The proposed rule would require plan sponsors of terminated multiemployer plans and insolvent multiemployer plans to file with PBGC actuarial valuations and withdrawal liability information. The information would be filed through PBGC's electronic filing system.

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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

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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: 12/11/2018

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