Liability for Termination of Single-Employer Plans

ICR 202307-1212-001

OMB: 1212-0017

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2023-07-21
IC Document Collections
IC ID
Document
Title
Status
13525
Modified
ICR Details
1212-0017 202307-1212-001
Received in OIRA 202006-1212-001
PBGC
Liability for Termination of Single-Employer Plans
Revision of a currently approved collection   No
Regular 07/21/2023
  Requested Previously Approved
36 Months From Approved 08/31/2023
21 29
252 348
113,400 156,600

A contributing sponsor of a terminating single-employer plan or member of its controlled group ("employer") that believes ERISA 4062(b) liabiity exceeds 30% of the employer's net worth is required to so notify PBGC and submit net worth information; the amount of employer liability subject to the statutory lien and the payment terms are affected by whether and to what extent such liability exceeds 30% of the employer's net worth.

US Code: 29 USC 1362 Name of Law: ERISA
   US Code: 29 USC 1368 Name of Law: ERISA
  
None

Not associated with rulemaking

  88 FR 31289 05/16/2023
88 FR 47196 07/21/2023
No

1
IC Title Form No. Form Name
Liability for Termination of Single-Employer Plans

  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 21 29 0 -8 0 0
Annual Time Burden (Hours) 252 348 0 -96 0 0
Annual Cost Burden (Dollars) 113,400 156,600 0 -43,200 0 0
No
Yes
Miscellaneous Actions
The changes in the estimates of the annual time and dollar burden are due to the change, based on PBGC’s experience, in the estimated number of employers, from 29 to 21, that will respond to this information collection annually.

$0
No
    No
    No
No
No
No
No
Melissa Rifkin 202 326-4400 [email protected]

  No

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.
07/21/2023


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