Withdrawal Liability Survey PRA Notice

Paperwork Reduction Act Notice

Withdrawal Liability Survey

PBGC needs the information from the survey about withdrawal liability owed and collected by plans to estimate with more precision PBGC’s current and projected financial assistance needs and the financial position of the multiemployer insurance program. PBGC also needs to use the information for its Multiemployer Pension Insurance Modelling System assumptions on collection of withdrawal liability.

Insolvent plans receiving financial assistance and terminated plans not yet receiving financial assistance are required to complete and return the survey information to PBGC. Plans with less than 500 participants are not required to complete the survey.

Information provided to PBGC is confidential to the extent provided in the Freedom of Information Act (FOIA) and the Privacy Act. If PBGC receives a request for confidential information, it will notify the submitter of the records, and afford them a reasonable period of time to object to the disclosure, pursuant to PBGC procedures and as required under Executive Order 12600.  If PBGC decides to sustain a submitter’s objection in any request, it will provide the submitter with a written statement explaining why it has determined to disclose within a reasonable number of days before a specified disclosure date.

PBGC estimates the average burden of the collection of information is 10 hours of fund office time and $4,000. These are estimates and the actual time 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-XXXX (expires ___________). 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.