Special Financial Assistance by PBGC

ICR 202208-1212-001

OMB: 1212-0074

Federal Form Document

Forms and Documents
Form and Instruction
Form and Instruction
Form and Instruction
Form and Instruction
Justification for No Material/Nonsubstantive Change
Supporting Statement A
Supplementary Document
ICR Details
1212-0074 202208-1212-001
Active 202205-1212-008
Special Financial Assistance by PBGC
No material or nonsubstantive change to a currently approved collection   No
Emergency 08/08/2022
Approved without change 08/03/2022
Retrieve Notice of Action (NOA) 08/03/2022
  Inventory as of this Action Requested Previously Approved
01/31/2023 01/31/2023 01/31/2023
219 0 219
1,043 0 1,043
2,648,134 0 2,648,134

Under section 4262 of the Employee Retirement Income Security Act of 1974 (ERISA) PBGC operates the Special Financial Assistance program for financially troubled multiemployer plans. The statute sets forth the requirements for this program, including specifying which plans are eligible to apply, the cutoff date for applications, actuarial assumptions, determinations on applications, restrictions and conditions on plans that receive SFA, and the requirements for certain plans with suspended benefits to reinstate those benefits and provide make-up payments to restore previously suspended benefits. Unlike financial assistance under section 4261 of ERISA, which is provided in the form of a loan and in periodic payments, a plan receiving SFA under section 4262 has no obligation to repay SFA. This information collection contains the requirements necessary to implement the SFA program and to provide proper stewardship of taxpayer funds. These information requirements include: • An application for SFA (including calculating the amount of SFA) that the plan sponsor of an eligible multiemployer plan must file with PBGC to receive payment of SFA. PBGC needs the information in the application to review a plan’s eligibility for SFA, priority group status (if applicable), and amount of requested SFA. • A lock-in application that plan may, but is not required, to use to lock in its base data. PBGC needs the information in the lock-in application to garner a plan's base data when the plan files a full application for SFA> • An Annual Statement of Compliance (with the restrictions and conditions under section 4262 of ERISA and 29 CFR part 4262) that a plan that has received SFA is required to file with PBGC. PBGC needs the information in the Annual Statement of Compliance to ensure that a plan is compliant with the imposed restrictions and conditions. • A notice of reinstatement that a plan sponsor of a plan with benefits that were suspended under sections 305(e)(9) or 4245(a) of ERISA must issue to participants and beneficiaries whose benefits are reinstated. Participants and beneficiaries need the notice of reinstatement to better understand the calculation and timing of their reinstated benefits and, if applicable, make-up payments. • A request for a determination from PBGC for approval for an exception under certain circumstances for SFA conditions under § 4262.16 relating to reductions in contributions, transfers or mergers, benefit increases, and settlement of withdrawal liability. PBGC needs the information required for a request for determination to determine whether to approve an exception from the specified condition.
On July 9, 2021, PBGC issued an interim final rule adding to its regulations a new part 4262 to implement the requirements under section 9704 of the American Rescue Plan (ARP) Act of 2021 (P.L. 117-2), “Special Financial Assistance Program for Financially Troubled Multiemployer Plans.” This program provides eligible multiemployer defined benefit pension plans with special financial assistance (SFA) in the amounts required for the plans to pay all benefits due during the period beginning on the date of payment of SFA through the plan year ending in 2051. On July 8, 2022, PBGC issued a final rule revising part 4262 to become effective August 8, 2022. With the final rule, PBGC is issuing revised application requirements and instructions necessary for the sponsor of an eligible plan to apply for SFA, including a supplemented application for plans that received SFA under the terms of the interim final rule. The revised ICR also includes a new lock-in application, a revised annual compliance statement, additional requests for a determination for an exception from certain conditions, and editorial changes to the notice to participants and beneficiaries whose benefits will be reinstated. All components of this revised ICR are necessary or helpful for plan sponsors to know before applying for SFA under the final rule and therefore are integral to the application process.

PL: Pub.L. 117 - 2 9704 Name of Law: American Rescue Plan Act of 2021
US Code: 29 USC 1432 Name of Law: American Rescue Plan Act of 2021

1212-AB53 Final or interim final rulemaking 87 FR 40968 07/08/2022


IC Title Form No. Form Name
Annual Statement of Compliance SFA 300 Annual Statement of Compliance
Application for Special Financial Assistance Model Certification , SFA 100, SFA 205-B, SFA 206-B, SFA 201, SFA 203, SFA 204-A, SFA 204-B, SFA 205-A, SFA 206-A, SFA 207, SFA 208, SFA 202, SFA 209, SFA 100-Supplemented , SFA Filing Instructions, General Application, SFA Filing Instructions, Addendum A, SFA Filing Instructions, Addendum C, SFA Filing Instructions, Addendum D, PBGC E-filing Portal, Model Plan Amendment, Compliance, Model Plan Amendment, Reinstatement Model Plan Amendment, Compliance ,   Model Plan Amendment, Reinstatement ,   Model Certification ,   SFA Template 1 ,   SFA Template 2 ,   SFA Template 3 ,   SFA Template 4A ,   SFA Template 4B ,   SFA Template 5A ,   SFA Template 6A ,   SFA Template 7 ,   SFA Template 8 ,   SFA Template 9 ,   SFA Template Checklist ,   SFA Template Checklist, Supplemented Application ,   SFA Filing Instructions, General Application ,   SFA Filing Instructions, Addendum A ,   SFA Filing Instructions, Addendum C ,   SFA Filing Instructions, Addendum D ,   PBGC E-filing Portal ,   SFA Template 5B ,   SFA Template 6B
Lock-In Application SFA Lock-In Application SFA Lock-In Application
Notice of reinstatement SFA Filing Instructions, Addendum B SFA Filing Instructions, Addendum B
Requests for determination

  Total Approved 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 219 219 0 0 0 0
Annual Time Burden (Hours) 1,043 1,043 0 0 0 0
Annual Cost Burden (Dollars) 2,648,134 2,648,134 0 0 0 0

Melissa Rifkin 202 326-4400 [email protected]


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:
    (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;
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.

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