Survey of Nonparticipating Single-Premium Group Annuity Rates

Forms and Documents

Document Name	Status
Form ACLI Survey Survey of Nonparticipating Single-Premium Group Annuity Rates Form	Modified
Supporting Statement Part B v3.docx Supporting Statement B	2021-06-14
Supporting Statement A v6.docx Supporting Statement A	2021-06-14

IC Document Collections

IC ID	Document Title	Status
13545	Survey of Nonparticipating Single-Premium Group Annuity Rates Form	Modified

ICR Details

OMB Control No: 1212-0030	ICR Reference No: 202106-1212-003
Status: Received in OIRA	Previous ICR Reference No: 201805-1212-001
Agency/Subagency: PBGC	Agency Tracking No:
Title: Survey of Nonparticipating Single-Premium Group Annuity Rates
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 06/15/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	08/31/2021
Responses	24	24
Time Burden (Hours)	12	12
Cost Burden (Dollars)	0	0

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Abstract: PBGC, through the American Council of Life Insurers, surveys insurance companies to find the prices they currently charge for group annuities. PBGC uses this information, with other market-rate data, to set interest rates for valuing benefits under terminating single-employer pension plans, and under multiemployer pension plans from which there has been a mass withdrawal of contributing employers. The information is needed to ensure that PBGC's rates reflect current market conditions.

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Authorizing Statute(s): US Code: 29 USC 1344 Name of Law: ERISA
   US Code: 29 USC 1441 Name of Law: ERISA
   US Code: 29 USC 1302(b) 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 17217	04/01/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 31539	06/14/2021
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
Survey of Nonparticipating Single-Premium Group Annuity Rates	ACLI Survey	Survey of Nonparticipating Single Premium Group Annuity Rates

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ICR Summary of Burden

	Total Request	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	24	24	0	0	0	0
Annual Time Burden (Hours)	12	12	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	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:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

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? No

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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: 06/15/2021

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