Termination of Single Employer Plans

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form Schedule MP Schedule MP	Form	Modified	Available
Form 600, 601, and 602 Notice of Intent to Terminate (Form 600), Notice of Single-Employer Plan Termination (Form 601), Post-Distribution Certification (Form 602),	Form	Modified	Available
Form 500 and 501 Notice Single-Employer Plan Termination (Form 500), Post-Distribution Certification for Standard Termination (Form 501)	Form	Modified	Available
4041 Supporting Statement 2022.06.docx	Supporting Statement A	Uploaded 2023-02-02	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
13567	Termination of Single Employer Plans	Form	Modified	Schedule MP
13567	Termination of Single Employer Plans	Form	Modified	Notice of Intent to Terminate (Form 600), Notice of Single-Employer Plan Termination (Form 601), Post-Distribution Certification (Form 602),
13567	Termination of Single Employer Plans	Form	Modified	Notice Single-Employer Plan Termination (Form 500), Post-Distribution Certification for Standard Termination (Form 501)
13567	Termination of Single Employer Plans	Instruction	Modified

ICR Details

OMB Control No: 1212-0036	ICR Reference No: 202301-1212-003
Status: Historical Active	Previous ICR Reference No: 202209-1212-001
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: Approved without change	Conclusion Date: 03/13/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/03/2023
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2026	36 Months From Approved	03/31/2023
Responses	1,654	0	1,513
Time Burden (Hours)	41,730	0	30,941
Cost Burden (Dollars)	8,509,747	0	6,178,200

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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 1350 Name of Law: ERISA
   US Code: 29 USC 1341 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:
	87 FR 68524	11/15/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 7482	02/03/2023
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	500 and 501 , 600, 601, and 602, Schedule MP	Notice Single-Employer Plan Termination (Form 500), Post-Distribution Certification for Standard Termination (Form 501) ,   Notice of Intent to Terminate (Form 600), Notice of Single-Employer Plan Termination (Form 601), Post-Distribution Certification (Form 602), ,   Schedule MP

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ICR Summary of Burden

table that charts list of burden

	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	1,654	1,513	0	141	0	0
Annual Time Burden (Hours)	41,730	30,941	0	10,789	0	0
Annual Cost Burden (Dollars)	8,509,747	6,178,200	0	2,331,547	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: PBGC bases its burden estimates on experience, and the burden increases are due to PBGC's stakeholders' experience with the ICR materials.

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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? 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: 02/03/2023

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