Termination of Single Employer Plans

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
4041Supporting Statement 2019 - Housekeeping.d1.docx	Supporting Statement A	Uploaded 2019-06-28	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
13567	Termination of Single Employer Plans	Instruction	Modified

ICR Details

OMB Control No: 1212-0036	ICR Reference No: 201906-1212-001
Status: Historical Inactive	Previous ICR Reference No: 201806-1212-001
Agency/Subagency: PBGC	Agency Tracking No:
Title: Termination of Single Employer Plans
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: 08/05/2019
	Date Received in OIRA: 06/28/2019
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.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2021	36 Months From Approved	03/31/2021
Responses	1,426	0	1,426
Time Burden (Hours)	29,890	0	29,890
Cost Burden (Dollars)	5,963,400	0	5,963,400

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Abstract: Plan administrators of plans terminating voluntarily must submit certain information to the PBGC and provide certain information to affected third parties. The PBGC needs the information required to be submitted to ensure that a voluntary termination if completed in accordance with statutory and regulatory requirements and to facilitate the payment of benefits to missing participants. Participants need the information required to be disclosed so that they will be informed about the status of the proposed termination of their plan and about their benefits upon termination.

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Authorizing Statute(s): US Code: 29 USC 1341 Name of Law: ERISA
   US Code: 29 USC 1350 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-AB34	Proposed rulemaking	84 FR 30666	06/27/2019

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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

table that charts list of burden

IC Title	Form No.	Form Name
Termination of Single Employer Plans	PBGC Form 501, PBGC Form 500, Schedule MP (to forms 501 and 602), PBGC Form 600, 601, 602	Post-Distribution Certification for Standard Termination ,   Standard Termination Notice Single-Employer Plan Termination ,   Missing Participant Information ,   Distress Termination - Notice to PBGC of Intent to Terminate; Distress Termination - Single-Employer Plan; Post-Distribution Certification for Distress Termination

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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 small change in the estimated annual hour burden and cost burden of this collection of information (from 29,890 hours in the current OMB inventory to 30,941 hours requested; and from $5,963,400 in the current OMB inventory to $6,178,200 requested) is attributable to several changes: a negligible estimated increase in hour burden because of the proposed rule, a projected increase in the number of standard terminations completed per year, and a decrease in the number of filers who must complete a Schedule MP.

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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.     Yes

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: 06/28/2019

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