81 FR 83882 - Proposed Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium
PENSION BENEFIT GUARANTY CORPORATION Federal Register Volume 81, Issue 225 (November 22, 2016)
Federal Register Volume 81, Issue 225 (November 22, 2016)
| Page Range | 83882-83883 | |
| FR Document | 2016-27866 |
[Federal Register Volume 81, Number 225 (Tuesday, November 22, 2016)] [Notices] [Pages 83882-83883] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-27866] [[Page 83882]] ======================================================================= ----------------------------------------------------------------------- PENSION BENEFIT GUARANTY CORPORATION Proposed Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium AGENCY: Pension Benefit Guaranty Corporation. ACTION: Notice of intent to request extension of OMB approval of collection of information. ----------------------------------------------------------------------- SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of the collection of information for the termination premium under its regulation on Payment of Premiums (29 CFR part 4007) (OMB control number 1212-0064; expires February 28, 2017), without changes. This notice informs the public of PBGC's intent and solicits public comment on the collection of information. DATES: Comments should be submitted by January 23, 2017. ADDRESSES: Comments may be submitted by any of the following methods:Federal eRulemaking portal: http://www.regulations.gov. Follow the Web site instructions for submitting comments. Email: [email protected]. Mail or hand delivery: Regulatory Affairs Group, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026. Comments received, including personal information provided, will be posted to PBGC's Web site (http://www.pbgc.gov). The currently approved collection of information (Form T and instructions) and PBGC's premium payment regulation may be accessed on PBGC's Web site at http://www.pbgc.gov. Copies of the proposed 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 or by calling 202-326-4040 during normal business hours. (TTY and TDD users may call the Federal relay service toll-free at 800-877-8339 and ask to be connected to 202-326-4040.) FOR FURTHER INFORMATION CONTACT: Deborah C. Murphy ([email protected]), Assistant General Counsel for Regulatory Affairs, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026, 202-326-4400 ext. 3451. (TTY and TDD users may call the Federal relay service toll- free at 800-877-8339 and ask to be connected to 202-326-4400 ext. 3451.) SUPPLEMENTARY INFORMATION: The Pension Benefit Guaranty Corporation (PBGC) administers the pension plan termination insurance program under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). Section 4006(a)(7) of ERISA provides for a ``termination premium'' (in addition to the flat-rate and variable-rate premiums under section 4006(a)(3) and (8) of ERISA) that is payable for three years following certain distress and involuntary plan terminations. PBGC's regulations on Premium Rates (29 CFR part 4006) and Payment of Premiums (29 CFR part 4007) implement the termination premium. Sections 4007.3 and 4007.13(b) of the premium payment regulation require the filing of termination premium information and payments with PBGC. PBGC has promulgated Form T and instructions for paying the termination premium. In general, the termination premium applies where a single-employer plan terminates in a distress termination under ERISA section 4041(c) (unless contributing sponsors and controlled group members meet the bankruptcy liquidation requirements of ERISA section 4041(c)(2)(B)(i)) or in an involuntary termination under ERISA section 4042, and the termination date under section 4048 of ERISA is after 2005. The termination premium does not apply in certain cases where termination occurs during a bankruptcy proceeding filed before October 18, 2005. The termination premium is payable for three years. The same amount is payable each year. The amount of each payment is based on the number of participants in the plan as of the day before the termination date. In general, the amount of each payment is equal to $1,250 times the number of participants. However, the rate is increased from $1,250 to $2,500 in certain cases involving commercial airline or airline catering service plans. The termination premium is due on the 30th day of each of three consecutive 12-month periods. The first 12-month period generally begins shortly after the termination date or after the conclusion of bankruptcy proceedings in certain cases. The termination premium and related information must be filed by a person liable for the termination premium. The persons liable for the termination premium are contributing sponsors and members of their controlled groups, determined on the day before the plan termination date. Interest on late termination premiums is charged at the rate imposed under section 6601(a) of the Internal Revenue Code, compounded daily, from the due date to the payment date. Penalties based on facts and circumstances may be assessed both for failure to timely pay the termination premium and for failure to timely file required related information and may be waived in appropriate circumstances. A penalty for late payment will not exceed the amount of termination premium paid late. Section 4007.10 of the premium payment regulation requires the retention of records supporting or validating the computation of premiums paid and requires that the records be made available to PBGC. OMB has approved the termination premium collection of information (Form T and instructions) under control number 1212-0064 through February 28, 2017. PBGC intends to request that OMB extend approval of this collection of information for three years, without changes. 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 each year receive an average of about 1 filing for the first year a termination premium is due, 1 filing for the second year a termination premium is due, and 1 filing for the third year a termination premium is due, from a total of about 3 respondents. PBGC estimates that the total annual burden of the collection of information will be about 15 minutes and $200. PBGC is soliciting public comments to-- Evaluate whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; Evaluate the accuracy of the agency's estimate of the burden of the collection of information, including the validity of the methodology and assumptions used; Enhance the quality, utility, and clarity of the information to be collected; and Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. [[Page 83883]] Issued in Washington, DC, by: Judith Starr, General Counsel, Pension Benefit Guaranty Corporation. [FR Doc. 2016-27866 Filed 11-21-16; 8:45 am] BILLING CODE 7709-02-P
![Federal Register / Vol. 81, No. 225 / Tuesday, November 22, 2016 / Notices 83883
Issued in Washington, DC, by: Attention: Desk Officer for the Office of POSTAL SERVICE
Judith Starr, Personnel Management or sent by email
General Counsel, Pension Benefit Guaranty to oira_submission@omb.eop.gov or Product Change—Priority Mail
Corporation. faxed to (202) 395–6974. Express, Priority Mail, & First-Class
[FR Doc. 2016–27866 Filed 11–21–16; 8:45 am] Package Service Negotiated Service
SUPPLEMENTARY INFORMATION: OPM Agreement
BILLING CODE 7709–02–P
Form RI 25–051 will be used by the
Civil Service Retirement System solely AGENCY: Postal ServiceTM.
to pay benefits to the widow(er) of an
OFFICE OF PERSONNEL ACTION: Notice.
annuitant. This application is intended
MANAGEMENT
for use in immediately authorizing SUMMARY: The Postal Service gives
OMB No. 3206–0233, Civil Service payments to an annuitant’s widow or notice of filing a request with the Postal
Retirement System Survivor Annuitant widower, based on the report of death, Regulatory Commission to add a
Express Pay Application for Death when our records show the decedent domestic shipping services contract to
Benefits, OPM Form RI 25–051 elected to provide benefits for the the list of Negotiated Service
applicant. The Office of Management Agreements in the Mail Classification
AGENCY: Office of Personnel and Budget is particularly interested in Schedule’s Competitive Products List.
Management. comments that:
ACTION: 30-Day Notice and request for DATES: Effective date: November 22,
1. Evaluate whether the proposed 2016.
comments.
collection of information is necessary
SUMMARY: The Retirement Services, for the proper performance of functions FOR FURTHER INFORMATION CONTACT:
Office of Personnel Management (OPM) of OPM, including whether the Elizabeth A. Reed, 202–268–3179.
offers the general public and other information will have practical utility; SUPPLEMENTARY INFORMATION: The
Federal agencies the opportunity to 2. Evaluate the accuracy of OPM’s United States Postal Service® hereby
comment on an extension, without estimate of the burden of the proposed gives notice that, pursuant to 39 U.S.C.
change, of a currently approved collection of information, including the 3642 and 3632(b)(3), on November 15,
information collection request (ICR) validity of the methodology and 2016, it filed with the Postal Regulatory
OMB No. 3206–0233, Civil Service assumptions used; Commission a Request of the United
Retirement System Survivor Annuitant States Postal Service to Add Priority
Express Pay Application for Death 3. Enhance the quality, utility, and Mail Express, Priority Mail, & First-Class
Benefits, OPM Form RI 25–051. As clarity of the information to be Package Service Contract 12 to
required by the Paperwork Reduction collected; and Competitive Product List. Documents
Act of 1995 (Public Law 104–13, 44 4. Minimize the burden of the are available at www.prc.gov, Docket
U.S.C. chapter 35) as amended by the collection of information on those who Nos. MC2017–21, CP2017–41.
Clinger-Cohen Act (Pub. L. 104–106), are to respond, including through the
OPM is soliciting comments for this Stanley F. Mires,
use of appropriate automated,
collection. The information collection Attorney, Federal Compliance.
electronic, mechanical, or other
was previously published in the Federal technological collection techniques or
[FR Doc. 2016–28019 Filed 11–21–16; 8:45 am]
Register (81 FR 47444, July 21, 2016) other forms of information technology, BILLING CODE 7710–12–P
allowing for a 60-day public comment e.g., permitting electronic submissions
period. No comments were received for of responses.
this information collection. The purpose
of this notice is to allow an additional Analysis RAILROAD RETIREMENT BOARD
30 days for public comments.
DATES: Comments are encouraged and
Agency: Retirement Operations, Notice of Closed Meeting; Sunshine
will be accepted until December 22, Retirement Services, Office of Personnel Act
2016. This process is conducted in Management.
Notice is hereby given that the
accordance with 5 CFR 1320.1. Title: Civil Service Retirement System
Railroad Retirement Board will hold a
ADDRESSES: Interested persons are Survivor Annuitant Express Pay closed meeting on November 30, 2016
invited to submit written comments on Application for Death Benefits. beginning at 10:00 a.m. at the Board’s
the proposed information collection to OMB: 3206–0233. meeting room on the 8th floor of its
Office of Information and Regulatory headquarters building, 844 North Rush
Affairs, Office of Management and Frequency: On occasion.
Street, Chicago, Illinois, 60611. The
Budget, 725 17th Street NW., Affected Public: Individuals or agenda for this meeting follows:
Washington, DC 20503, Attention: Desk Households.
Closed meeting notice:
Officer for the Office of Personnel Number of Respondents: 34,800.
Management or sent by email to oira_ (1) General Counsel Position
submission@omb.eop.gov or faxed to Estimated Time per Respondent: 30
minutes. The person to contact for more
(202) 395–6974.
sradovich on DSK3GMQ082PROD with NOTICES
information is Martha P. Rico, Secretary
FOR FURTHER INFORMATION CONTACT: A Total Burden Hours: 17,400. to the Board, Phone No. 312–751–4920.
copy of this ICR, with applicable U.S. Office of Personnel Management. Dated: November 17, 2016.
supporting documentation, may be
Beth F. Cobert, Martha P. Rico,
obtained by contacting the Office of
Information and Regulatory Affairs, Acting Director. Secretary to the Board.
Office of Management and Budget, 725 [FR Doc. 2016–28088 Filed 11–21–16; 8:45 am] [FR Doc. 2016–28176 Filed 11–18–16; 11:15 am]
17th Street NW., Washington, DC 20503, BILLING CODE 6325–38–P BILLING CODE 7905–01–P
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Document Created: 2018-02-14 08:29:31
Document Modified: 2018-02-14 08:29:31
| 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 intent to request extension of OMB approval of collection of information. | |
| Dates | Comments should be submitted by January 23, 2017. | |
| Contact | Deborah C. Murphy ([email protected]), Assistant General Counsel for Regulatory Affairs, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026, 202-326-4400 ext. 3451. (TTY and TDD users may call the Federal relay service toll- free at 800-877-8339 and ask to be connected to 202-326-4400 ext. 3451.) | |
| FR Citation | 81 FR 83882 |
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