80 FR 64026 - Submission of Information Collection for OMB Review; Comment Request; Qualified Domestic Relations Orders Submitted to PBGC

PENSION BENEFIT GUARANTY CORPORATION

Federal Register Volume 80, Issue 204 (October 22, 2015)

Page Range		64026-64027
FR Document		2015-26858

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 in PBGC's booklet Qualified Domestic Relations Orders & PBGC (OMB control number 1212-0054; expires October 31, 2015). This notice informs the public of PBGC's request and solicits public comment on the collection of information.

Federal Register, Volume 80 Issue 204 (Thursday, October 22, 2015)

[Federal Register Volume 80, Number 204 (Thursday, October 22, 2015)]
[Notices]
[Pages 64026-64027]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-26858]


=======================================================================
-----------------------------------------------------------------------

PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Qualified Domestic Relations Orders Submitted to PBGC

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval.

-----------------------------------------------------------------------

SUMMARY: 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 in 
PBGC's booklet Qualified Domestic Relations Orders & PBGC (OMB control 
number 1212-0054; expires October 31, 2015). This notice informs the 
public of PBGC's request and solicits public comment on the collection 
of information.

DATES: Comments should be submitted by November 23, 2015.

ADDRESSES: Comments should be sent to the Office of Information and 
Regulatory Affairs, Office of Management and Budget, Attention: Desk 
Officer for Pension Benefit Guaranty Corporation, via electronic mail 
at OIRA_DOCKET@omb.eop.gov or by fax to (202) 395-6974.
    A copy of PBGC's request may be obtained without charge by writing 
to the Disclosure Division of the Office of the General Counsel of PBGC 
at the above address or by visiting that office or calling (202) 326-
4040 during normal business hours. (TTY and TDD users may call the 
Federal relay service toll free at 1-(800) 877-8339 and ask to be 
connected to (202) 326-4040.) The request is also available at http://www.pbgc.gov/prac/laws-and-regulations/information-collections-under-omb-review.html. The current QDRO booklet is available on PBGC's Web 
site at http://www.pbgc.gov/wr/benefits/qdro.html.

FOR FURTHER INFORMATION CONTACT: Jo Amato Burns, Attorney, Office of 
General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street 
NW., Washington, DC 20005-4026, 202-326-4400. (TTY and TDD users may 
call the Federal relay service toll-free at 1-800-877-8339 and ask to 
be connected to 202-326-4400.)

SUPPLEMENTARY INFORMATION: PBGC is requesting that OMB extend its 
approval of the guidance and model language and forms contained in the 
PBGC booklet, Qualified Domestic Relations Orders & PBGC.
    A defined benefit pension plan that does not have enough money to 
pay benefits may be terminated if the employer responsible for the plan 
faces severe financial difficulty, such as bankruptcy, and is unable to 
maintain the plan. In such an event, PBGC becomes trustee of the plan 
and pays benefits, subject to legal limits, to plan participants and 
beneficiaries.
    The benefits of a pension plan participant generally may not be 
assigned or alienated. However, Title I of ERISA provides an exception 
for domestic relations orders that relate to child support, alimony 
payments, or the marital property rights of an alternate payee (a 
spouse, former spouse, child, or other dependent of a plan 
participant). The exception applies only if the domestic relations 
order meets specific legal requirements that make it a qualified 
domestic relations order, or ``QDRO.''
    ERISA provides that pension plans are required to comply with only 
those domestic relations orders which are QDROs, and that the decision 
as to whether a domestic relations order is a QDRO is made by the plan 
administrator. When PBGC is trustee of a plan, it reviews submitted 
domestic relations orders to determine whether the order is qualified 
before paying benefits to an alternate payee. The requirements for 
submitting a QDRO are established by statute.
    To simplify the process, PBGC has included model QDROs and 
accompanying guidance in a booklet, Qualified Domestic Relations Orders 
& PBGC. The models and guidance assist parties by making it easier to 
comply with ERISA's QDRO requirements when drafting orders for plans 
trusteed by PBGC. The booklet does not create any additional 
requirements.
    PGBC is not making any substantive revisions to the current QDRO 
booklet. PGBC is adding text to clarify how separate interest orders 
are administered by PBGC and to explain how PBGC apportions adjustments 
required by ERISA's Title IV limitations on benefits between an 
alternate payee and a participant, as well as the consequences of such 
adjustments on each party. PBGC is also making other simplifying and 
clarifying changes to the QDRO booklet.

[[Page 64027]]

    The collection of information has been approved through October 31, 
2015, by OMB under control number 1212-0054. PBGC is requesting that 
OMB extend approval of the collection of information for 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.
    PBGC estimates that it will receive 1,170 domestic relations orders 
annually and that the average annual burden of this collection of 
information is 2,117 hours and $704,500.

    Issued in Washington, DC, this 19 day of October 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2015-26858 Filed 10-21-15; 8:45 am]
BILLING CODE 7709-02-P

64026 Federal Register / Vol. 80, No. 204 / Thursday, October 22, 2015 / Notices

Tuesday, November 3, 2015—8:30 a.m. Dated: October 14, 2015. 800–877–8339 and ask to be connected
until 5:00 p.m. Peter Wen, to 202–326–4400.)
Acting Chief, Technical Support Branch, SUPPLEMENTARY INFORMATION: PBGC is
The Subcommittee will discuss the Advisory Committee on Reactor Safeguards. requesting that OMB extend its approval
Draft Final Rule for 10 CFR 50.46c. The [FR Doc. 2015–26735 Filed 10–21–15; 8:45 am] of the guidance and model language and
Subcommittee will hear presentations
BILLING CODE 7590–01–P forms contained in the PBGC booklet,
by and hold discussions with the NRC Qualified Domestic Relations Orders &
staff and other interested persons PBGC.
regarding this matter. The A defined benefit pension plan that
PENSION BENEFIT GUARANTY
Subcommittee will gather information, does not have enough money to pay
CORPORATION
analyze relevant issues and facts, and benefits may be terminated if the
formulate proposed positions and Submission of Information Collection employer responsible for the plan faces
actions, as appropriate, for deliberation for OMB Review; Comment Request; severe financial difficulty, such as
by the Full Committee. Qualified Domestic Relations Orders bankruptcy, and is unable to maintain
Members of the public desiring to Submitted to PBGC the plan. In such an event, PBGC
provide oral statements and/or written becomes trustee of the plan and pays
AGENCY: Pension Benefit Guaranty
comments should notify the Designated benefits, subject to legal limits, to plan
Corporation.
Federal Official (DFO), Christopher participants and beneficiaries.
Brown (Telephone 301–415–7111 or ACTION: Notice of request for extension
The benefits of a pension plan
Email: Christopher.Brown@nrc.gov) five of OMB approval. participant generally may not be
days prior to the meeting, if possible, so SUMMARY: Pension Benefit Guaranty assigned or alienated. However, Title I
that appropriate arrangements can be Corporation (‘‘PBGC’’) is requesting that of ERISA provides an exception for
made. Thirty-five hard copies of each the Office of Management and Budget domestic relations orders that relate to
presentation or handout should be (‘‘OMB’’) extend approval, under the child support, alimony payments, or the
provided to the DFO thirty minutes Paperwork Reduction Act, of the marital property rights of an alternate
before the meeting. In addition, one collection of information in PBGC’s payee (a spouse, former spouse, child,
electronic copy of each presentation booklet Qualified Domestic Relations or other dependent of a plan
should be emailed to the DFO one day Orders & PBGC (OMB control number participant). The exception applies only
before the meeting. If an electronic copy 1212–0054; expires October 31, 2015). if the domestic relations order meets
cannot be provided within this This notice informs the public of specific legal requirements that make it
timeframe, presenters should provide PBGC’s request and solicits public a qualified domestic relations order, or
the DFO with a CD containing each comment on the collection of ‘‘QDRO.’’
presentation at least thirty minutes information. ERISA provides that pension plans
before the meeting. Electronic are required to comply with only those
DATES: Comments should be submitted domestic relations orders which are
recordings will be permitted only
by November 23, 2015. QDROs, and that the decision as to
during those portions of the meeting
that are open to the public. Detailed ADDRESSES: Comments should be sent to whether a domestic relations order is a
procedures for the conduct of and the Office of Information and Regulatory QDRO is made by the plan
participation in ACRS meetings were Affairs, Office of Management and administrator. When PBGC is trustee of
published in the Federal Register on Budget, Attention: Desk Officer for a plan, it reviews submitted domestic
October 1, 2014 (79 FR 59307). Pension Benefit Guaranty Corporation, relations orders to determine whether
via electronic mail at OIRA_DOCKET@ the order is qualified before paying
Detailed meeting agendas and meeting omb.eop.gov or by fax to (202) 395– benefits to an alternate payee. The
transcripts are available on the NRC 6974. requirements for submitting a QDRO are
Web site at http://www.nrc.gov/reading- A copy of PBGC’s request may be established by statute.
rm/doc-collections/acrs. Information obtained without charge by writing to To simplify the process, PBGC has
regarding topics to be discussed, the Disclosure Division of the Office of included model QDROs and
changes to the agenda, whether the the General Counsel of PBGC at the accompanying guidance in a booklet,
meeting has been canceled or above address or by visiting that office Qualified Domestic Relations Orders &
rescheduled, and the time allotted to or calling (202) 326–4040 during normal PBGC. The models and guidance assist
present oral statements can be obtained business hours. (TTY and TDD users parties by making it easier to comply
from the Web site cited above or by may call the Federal relay service toll with ERISA’s QDRO requirements when
contacting the identified DFO. free at 1-(800) 877–8339 and ask to be drafting orders for plans trusteed by
Moreover, in view of the possibility that connected to (202) 326–4040.) The PBGC. The booklet does not create any
the schedule for ACRS meetings may be request is also available at http:// additional requirements.
adjusted by the Chairman as necessary www.pbgc.gov/prac/laws-and- PGBC is not making any substantive
to facilitate the conduct of the meeting, regulations/information-collections- revisions to the current QDRO booklet.
persons planning to attend should check under-omb-review.html. The current PGBC is adding text to clarify how
with these references if such QDRO booklet is available on PBGC’s separate interest orders are administered
rescheduling would result in a major Web site at http://www.pbgc.gov/wr/ by PBGC and to explain how PBGC
inconvenience. benefits/qdro.html. apportions adjustments required by
tkelley on DSK3SPTVN1PROD with NOTICES

If attending this meeting, please enter FOR FURTHER INFORMATION CONTACT: Jo ERISA’s Title IV limitations on benefits
through the One White Flint North Amato Burns, Attorney, Office of between an alternate payee and a
building, 11555 Rockville Pike, General Counsel, Pension Benefit participant, as well as the consequences
Rockville, MD. After registering with Guaranty Corporation, 1200 K Street of such adjustments on each party.
security, please contact Mr. Theron NW., Washington, DC 20005–4026, 202– PBGC is also making other simplifying
Brown (Telephone 240–888–9835) to be 326–4400. (TTY and TDD users may call and clarifying changes to the QDRO
escorted to the meeting room. the Federal relay service toll-free at 1– booklet.

VerDate Sep<11>2014 18:05 Oct 21, 2015 Jkt 238001 PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 E:\FR\FM\22OCN1.SGM 22OCN1

Federal Register / Vol. 80, No. 204 / Thursday, October 22, 2015 / Notices 64027

The collection of information has Package Services 3 (GEPS 3) negotiated SECURITIES AND EXCHANGE
been approved through October 31, service agreement (Agreement).1 COMMISSION
2015, by OMB under control number To support its Notice, the Postal
1212–0054. PBGC is requesting that Service filed a copy of the Agreement, [Release No. 34–76174; File No. SR–
OMB extend approval of the collection a copy of the Governors’ Decision NYSEArca–2015–74]
of information for three years. An
authorizing the product, a certification
agency may not conduct or sponsor, and Self-Regulatory Organizations; NYSE
of compliance with 39 U.S.C. 3633(a),
a person is not required to respond to, Arca, Inc.; Notice of Designation of a
a collection of information unless it and an application for non-public
treatment of certain materials. It also Longer Period for Commission Action
displays a currently valid OMB control on Proposed Rule Change Regarding a
number. filed supporting financial workpapers.
Change to the Reference Index of the
PBGC estimates that it will receive II. Notice of Commission Action Market Vectors Short High Yield
1,170 domestic relations orders Municipal Index ETF
annually and that the average annual The Commission establishes Docket
burden of this collection of information No. CP2016–8 for consideration of October 16, 2015.
is 2,117 hours and $704,500. matters raised by the Notice. On August 27, 2015, NYSE Arca, Inc.
Issued in Washington, DC, this 19 day of The Commission invites comments on filed with the Securities and Exchange
October 2015. whether the Postal Service’s filing is Commission (‘‘Commission’’), pursuant
Judith Starr, consistent with 39 U.S.C. 3632, 3633, or to Section 19(b)(1) of the Securities
General Counsel, Pension Benefit Guaranty 3642, 39 CFR part 3015, and 39 CFR Exchange Act of 1934 (‘‘Act’’) 1 and Rule
Corporation. part 3020, subpart B. Comments are due 19b–4 thereunder,2 a proposed rule
[FR Doc. 2015–26858 Filed 10–21–15; 8:45 am] no later than October 23, 2015. The change to reflect a change to the
BILLING CODE 7709–02–P public portions of the filing can be reference index relating to the Market
accessed via the Commission’s Web site Vectors Short High Yield Municipal
(http://www.prc.gov). Index ETF. The proposed rule change
The Commission appoints Curtis E. was published for comment in the
POSTAL REGULATORY COMMISSION Federal Register on September 16,
Kidd to serve as Public Representative
in this docket. 2015.3 The Commission received no
[Docket No. CP2016–8; Order No. 2760] comment letters on the proposed rule
III. Ordering Paragraphs change.
New Postal Product
It is ordered: Section 19(b)(2) of the Act 4 provides
AGENCY: Postal Regulatory Commission. that, within 45 days of the publication
1. The Commission establishes Docket of notice of the filing of a proposed rule
ACTION: Notice. No. CP2016–8 for consideration of the change, or within such longer period up
SUMMARY: The Commission is noticing a matters raised by the Postal Service’s to 90 days as the Commission may
recent Postal Service filing concerning Notice. designate if it finds such longer period
an additional Global Expedited Package 2. Pursuant to 39 U.S.C. 505, Curtis E. to be appropriate and publishes its
Services 3 negotiated service agreement. Kidd is appointed to serve as an officer reasons for so finding or as to which the
This notice informs the public of the of the Commission to represent the self-regulatory organization consents,
filing, invites public comment, and interests of the general public in this the Commission shall either approve the
takes other administrative steps. proceeding (Public Representative). proposed rule change, disapprove the
DATES: Comments are due: October 23, 3. Comments are due no later than proposed rule change, or institute
2015. October 23, 2015. proceedings to determine whether the
ADDRESSES: Submit comments
proposed rule change should be
4. The Secretary shall arrange for disapproved. The Commission is
electronically via the Commission’s publication of this order in the Federal
Filing Online system at http:// extending this 45-day time period.
Register.
www.prc.gov. Those who cannot submit The Commission finds that it is
comments electronically should contact By the Commission. appropriate to designate a longer period
the person identified in the FOR FURTHER Ruth Ann Abrams, within which to take action on the
INFORMATION CONTACT section by Acting Secretary. proposed rule change so that it has
telephone for advice on filing [FR Doc. 2015–26818 Filed 10–21–15; 8:45 am] sufficient time to consider the proposed
alternatives. BILLING CODE 7710–FW–P
rule change. Accordingly, the
Commission, pursuant to Section
FOR FURTHER INFORMATION CONTACT:
19(b)(2) of the Act,5 designates
David A. Trissell, General Counsel, at
December 15, 2015, as the date by
202–789–6820.
which the Commission should either
SUPPLEMENTARY INFORMATION: approve or disapprove or institute
Table of Contents proceedings to determine whether to
disapprove the proposed rule change
I. Introduction
(File Number SR–NYSEArca-2015–74).
tkelley on DSK3SPTVN1PROD with NOTICES

II. Notice of Commission Action
III. Ordering Paragraphs
1 Notice of United States Postal Service of Filing 1 15 U.S.C. 78s(b)(1).
I. Introduction a Functionally Equivalent Global Expedited 2 17 CFR 240.19b–4.
Package Services 3 Negotiated Service Agreement 3 See Securities Exchange Act Release No. 75888
On October 15, 2015, the Postal and Application for Non-Public Treatment of (September 10, 2015), 80 FR 55701.
Service filed notice that it has entered Materials Filed Under Seal, October 15, 2015 4 15 U.S.C. 78s(b)(2).
into an additional Global Expedited (Notice). 5 Id.

VerDate Sep<11>2014 18:05 Oct 21, 2015 Jkt 238001 PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 E:\FR\FM\22OCN1.SGM 22OCN1

Document Created: 2015-12-14 15:34:04
Document Modified: 2015-12-14 15:34:04

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice of request for extension of OMB approval.
Dates		Comments should be submitted by November 23, 2015.
Contact		Jo Amato Burns, Attorney, Office of General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026, 202-326-4400. (TTY and TDD users may call the Federal relay service toll-free at 1-800-877-8339 and ask to be connected to 202-326-4400.)
FR Citation		80 FR 64026