80 FR 81378 - Submission of Information Collection for OMB Review; Comment Request; Locating and Paying Participants

PENSION BENEFIT GUARANTY CORPORATION

Federal Register Volume 80, Issue 249 (December 29, 2015)

The Pension Benefit Guaranty Corporation (PBGC) is modifying its collection of information on Locating and Paying Participants (OMB control number 1212-0055; expires December 31, 2015) and is requesting that the Office of Management and Budget approve the revised collection of information under the Paperwork Reduction Act for three years. This notice informs the public of PBGC's request and solicits public comment on the collection of information.

[Federal Register Volume 80, Number 249 (Tuesday, December 29, 2015)]
[Notices]
[Pages 81378-81379]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-32783]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Locating and Paying Participants

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for OMB approval of revised collection of 
information.

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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is modifying 
its collection of information on Locating and Paying Participants (OMB 
control number 1212-0055; expires December 31, 2015) and is requesting 
that the Office of Management and Budget approve the revised collection 
of information under the Paperwork

[[Page 81379]]

Reduction Act for three years. This notice informs the public of PBGC's 
request and solicits public comment on the collection of information.

DATES: Comments must be submitted by January 28, 2016.

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 [email protected], or by fax to 202-395-6974. The collection 
of information is available at www.reginfo.gov. Copies of the 
collection of information may also be obtained without charge by 
writing to the Disclosure Division of the Office of the General Counsel 
of PBGC at the above address, by visiting the Disclosure Division, or 
by calling 202-326-4040 during normal business hours. (TTY/ASCII users 
may call the Federal relay service toll-free at 1-800-877-8339 and ask 
to be connected to 202-326-4040.) The Disclosure Division will email, 
fax, or mail the requested information to you, as you request.

FOR FURTHER INFORMATION CONTACT: Jo Amato Burns, Attorney, or Catherine 
B. Klion, Assistant General Counsel, Office of the General Counsel, 
Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 
20005-4026, 202-326-4400, ext. 3072 (Burns) or 3041 (Klion). (For TTY/
ASCII users, 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 approve 
modifications to an information collection needed to locate and pay 
participants and beneficiaries who may be entitled to pension benefits 
under a defined benefit plan that has terminated. The collection 
consists of information that participants and beneficiaries are asked 
to provide when applying for benefits. In addition, in some instances, 
as part of a search for participants and beneficiaries who may be 
entitled to benefits, PBGC requests individuals to provide identifying 
information that the individual would provide as part of an initial 
contact with PBGC. The information collection also includes My Pension 
Benefit Account (My PBA), an application on PBGC's Web site, http://www.pbgc.gov, through which plan participants and beneficiaries may 
conduct electronic transactions with PBGC, including applying for 
pension benefits, designating a beneficiary, changing contact 
information, and applying for electronic direct deposit. All requested 
information is needed to enable PBGC to determine benefit entitlements 
and to make appropriate payments, or to provide respondents with 
specific information about their pension plan so they may obtain rough 
estimates of their benefits.
    PBGC will add one new form to the information collection, Form 717, 
Benefit Inquiry Questionnaire. PBGC will send this form to individuals 
who contact PBGC to inquire whether PBGC is holding any benefits to 
which they are entitled. The questionnaire will request information 
that PBGC needs to determine whether the individual is owed benefits 
and, if so, the benefit amount.
    In addition, PBGC is making clarifying, simplifying, editorial, and 
other changes to the information collection.
    The collection of information has been approved by OMB under 
control number 1212-0055 (expires December 31, 2015). PBGC is 
requesting that OMB extend its approval (with modifications) for three 
years from its approval date. 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 the average annual burden associated with this 
collection of information will be 126,090 hours and $1,360 for the next 
three years. The burden estimate includes 124,410 hours and $1,330 for 
participants in plans covered by the PBGC insurance program. The 
remaining burden is attributable to participants expected to be covered 
by the expanded Missing Participants program under Pension Protection 
Act of 2006 amendments to ERISA, once that program is in effect.

    Issued in Washington, DC, this 23 day of December 2015.
Judith Starr,
General Counsel, Pension Benefit Guaranty Corporation.
[FR Doc. 2015-32783 Filed 12-28-15; 8:45 am]
BILLING CODE 7709-02-P