Administrators of PBGC-insured pension
plans file with PBGC premium information and premium payments
required under 29 USC 1307 and 29 CFR Part 4007, which also
requires retention and production of records necessary to support
premium filings. The information identifies payers and lets PBGC
verify premium computations and perform premium audits. It also
helps PBGC project premium income, improve financial projections,
estimate its exposure if plans terminate, track movement of
participants and assets, determine whether new plans are being
created, and update its insured-plan inventory. The retained
records facilitate audits.
In the final rule published
August 15, 2025, PBGC stated that the 2026 Comprehensive Premium
Filing Instructions will be updated to reflect that due date for
the final premium for terminating plans to be the earlier of the
normal premium due date or 45 days after the date the
post-distribution certification is filed. This change does not
create additional filing burden. Subsequently, PBGC determined that
there will be a decrease in the expected number of premium filings
for calendar years 2026-2028 from 31,303 filings to 29,288 filings
each year. The decrease in the expected number of filings results
in a decrease in the estimated annual hour burden from 13,565 hours
to 12,691 hours and annual cost burden from $21,661,676 to
$20.267,296.
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.