[Federal Register Volume 64, Number 171 (Friday, September 3, 1999)]
[Notices]
[Pages 48440-48441]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 99-23080]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Reportable Events

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval.

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[[Page 48441]]

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting 
that the Office of Management and Budget (OMB) extend approval, under 
the Paperwork Reduction Act, of the collection of information under 
Part 4043 of its regulations relating to Reportable Events (OMB control 
number 1212-0013; expires November 30, 1999). This notice informs the 
public of the PBGC's request and solicits public comment on the 
collection of information.

DATES: Comments should be submitted by October 4, 1999.

ADDRESSES: Comments should be mailed to the Office of Information and 
Regulatory Affairs of the Office of Management and Budget, Attention: 
Desk Officer for Pension Benefit Guaranty Corporation, Washington, DC 
20503. Copies of the request for extension (including the collection of 
information) are available from the Communications and Public Affairs 
Department, suite 240, 1200 K Street, NW., Washington, DC 20005-4026, 
between 9 a.m. and 4 p.m. on business days.

FOR FURTHER INFORMATION CONTACT: Harold J. Ashner, Assistant General 
Counsel, or James L. Beller, Attorney, Office of the General Counsel, 
Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, 
DC 20005-4026, 202-326-4024. (For TTY and TDD, call the Federal relay 
service toll-free at 1-800-877-8339 and request connection to 202-326-
4024.)

SUPPLEMENTARY INFORMATION: Section 4043 of the Employee Retirement 
Income Security Act of 1974 (ERISA) requires plan administrators and 
plan sponsors to report certain plan and corporate events to the PBGC. 
The reporting requirements give the PBGC timely notice of events that 
indicate plan or employer financial problems. The PBGC uses the 
information provided in determining what, if any, action it needs to 
take. For example, the PBGC might need to institute proceedings to 
terminate the plan (placing it in trusteeship) under section 4042 of 
ERISA to ensure the continued payment of benefits to plan participants 
and their beneficiaries or to prevent unreasonable increases in its 
losses.
    The collection of information under the regulation has been 
approved through November 30, 1999, by OMB under control number 1212-
0013. The PBGC is requesting that OMB extend approval for another three 
years. 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.
    The PBGC estimates that it will receive 305 reportable events 
notices per year under this collection of information. The PBGC further 
estimates that the average annual burden of this collection of 
information is 1,249 hours and $187,350.

    Issued in Washington, DC, this 31st day of August, 1999.
Stuart Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit 
Guaranty Corporation.
[FR Doc. 99-23080 Filed 9-2-99; 8:45 am]
BILLING CODE 7708-01-P