82 FR 16863 - Proposed Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations
PENSION BENEFIT GUARANTY CORPORATION Federal Register Volume 82, Issue 65 (April 6, 2017)
Federal Register Volume 82, Issue 65 (April 6, 2017)
| Page Range | 16863-16865 | |
| FR Document | 2017-06802 |
[Federal Register Volume 82, Number 65 (Thursday, April 6, 2017)] [Notices] [Pages 16863-16865] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-06802] ======================================================================= ----------------------------------------------------------------------- PENSION BENEFIT GUARANTY CORPORATION Proposed Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations AGENCY: Pension Benefit Guaranty Corporation. ACTION: Notice of intention to request extension of OMB approval of information collections. ----------------------------------------------------------------------- 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 collections of information in PBGC's regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC's intent and solicits public comment on the collections of information. DATES: Comments must be submitted on or before June 5, 2017. ADDRESSES: Comments may be submitted by any of the following methods:Federal eRulemaking Portal: http://www.regulations.gov. (Follow the online 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 www.pbgc.gov. Copies of the collections of information may also be obtained by writing to Disclosure Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026, or 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.) PBGC's regulations on multiemployer plans may be accessed on PBGC's Web site at www.pbgc.gov. FOR FURTHER INFORMATION CONTACT: Hilary Duke ([email protected]), Attorney, Regulatory Affairs Group, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington DC 20005-4026; 202-326-4400, extension 3839. (TTY and TDD users may call the Federal relay service toll-free at 800-877-8339 and ask to be connected to 202-326-4100, ext. 6818, or 202-326-4400, extension 3839.) SUPPLEMENTARY INFORMATION: OMB has approved and issued control numbers for seven collections of information in PBGC's regulations relating to multiemployer plans. These collections of information are described below. OMB approvals for these collections of information expire June 30, 2017. PBGC intends to request that OMB extend its approval of these collections 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 is soliciting public comments to-- Evaluate whether the proposed collections of information are 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 proposed collections of information, including the validity of the methodologies and assumptions used; enhance the quality, utility, and clarity of the information to be collected; and minimize the burden of the collections 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. Comments should identify the specific part number(s) of the regulation(s) they relate to. 1. Extension of Special Withdrawal Liability Rules (29 CFR Part 4203) (OMB Control Number 1212-0023) Sections 4203(f) and 4208(e)(3) of ERISA allow PBGC to permit a multiemployer plan to adopt special rules for determining whether a withdrawal from the plan has occurred, subject to PBGC approval. The regulation specifies the information that a plan that adopts special rules must submit to PBGC about the rules, the plan, and the industry in which the plan operates. PBGC uses the information to determine whether the rules are appropriate for the industry in which the plan functions and do not pose a significant risk to the insurance system. PBGC estimates that at most one plan sponsor submits a request each year under this regulation. The estimated annual burden of the collection of information is two hours and $5,000. [[Page 16864]] 2. Variances for Sale of Assets (29 CFR Part 4204) (OMB Control Number 1212-0021) If an employer's covered operations or contribution obligation under a plan ceases, the employer must generally pay withdrawal liability to the plan. Section 4204 of ERISA provides an exception, under certain conditions, where the cessation results from a sale of assets. Among other things, the buyer must furnish a bond or escrow, and the sale contract must provide for secondary liability of the seller. The regulation establishes general variances (rules for avoiding the bond/escrow and sale-contract requirements) and authorizes plans to determine whether the variances apply in particular cases. It also allows buyers and sellers to request individual variances from PBGC. Plans and PBGC use the information to determine whether employers qualify for variances. PBGC estimates that each year, 100 employers submit, and 100 plans respond to, variance requests under the regulation, and one employer submits a variance request to PBGC. The estimated annual burden of the collection of information is 1,050 hours and $501,000. 3. Reduction or Waiver of Complete Withdrawal Liability (29 CFR Part 4207) (OMB Control Number 1212-0044) Section 4207 of ERISA allows PBGC to provide for abatement of an employer's complete withdrawal liability, and for plan adoption of alternative abatement rules, where appropriate. Under the regulation, an employer applies to a plan for an abatement determination, providing information the plan needs to determine whether withdrawal liability should be abated, and the plan notifies the employer of its determination. The employer may, pending plan action, furnish a bond or escrow instead of making withdrawal liability payments, and must notify the plan if it does so. When the plan then makes its determination, it must so notify the bonding or escrow agent. The regulation also permits plans to adopt their own abatement rules and request PBGC approval. PBGC uses the information in such a request to determine whether the amendment should be approved. PBGC estimates that each year, at most one employer submits, and one plan responds to, an application for abatement of complete withdrawal liability, and no plan sponsors request approval of plan abatement rules from PBGC. The estimated annual burden of the collection of information is 0.5 hours and $400. 4. Reduction or Waiver of Partial Withdrawal Liability (29 CFR Part 4208) (OMB Control Number 1212-0039) Section 4208 of ERISA provides for abatement, in certain circumstances, of an employer's partial withdrawal liability and authorizes PBGC to issue additional partial withdrawal liability abatement rules. Under the regulation, an employer applies to a plan for an abatement determination, providing information the plan needs to determine whether withdrawal liability should be abated, and the plan notifies the employer of its determination. The employer may, pending plan action, furnish a bond or escrow instead of making withdrawal liability payments, and must notify the plan if it does so. When the plan then makes its determination, it must so notify the bonding or escrow agent. The regulation also permits plans to adopt their own abatement rules and request PBGC approval. PBGC uses the information in such a request to determine whether the amendment should be approved. PBGC estimates that each year, at most one employer submits, and one plan responds to, an application for abatement of partial withdrawal liability and no plan sponsors request approval of plan abatement rules from PBGC. The estimated annual burden of the collection of information is 0.50 hours and $400. 5. Allocating Unfunded Vested Benefits to Withdrawing Employers (29 CFR Part 4211) (OMB Control Number 1212-0035) Section 4211(c)(5)(A) of ERISA requires PBGC to prescribe how plans can, with PBGC approval, change the way they allocate unfunded vested benefits to withdrawing employers for purposes of calculating withdrawal liability. The regulation prescribes the information that must be submitted to PBGC by a plan seeking such approval. PBGC uses the information to determine how the amendment changes the way the plan allocates unfunded vested benefits and how it will affect the risk of loss to plan participants and PBGC. PBGC estimates that 10 plan sponsors submit approval requests each year under this regulation. The estimated annual burden of the collection of information is 100 hours and $100,000. 6. Notice, Collection, and Redetermination of Withdrawal Liability (29 CFR Part 4219) (OMB Control Number 1212-0034) Section 4219(c)(1)(D) of ERISA requires that PBGC prescribe regulations for the allocation of a plan's total unfunded vested benefits in the event of a ``mass withdrawal.'' ERISA section 4209(c) deals with an employer's liability for de minimis amounts if the employer withdraws in a ``substantial withdrawal.'' The reporting requirements in the regulation give employers notice of a mass withdrawal or substantial withdrawal and advise them of their rights and liabilities. They also provide notice to PBGC so that it can monitor the plan, and they help PBGC assess the possible impact of a withdrawal event on participants and the multiemployer plan insurance program. PBGC estimates that there are six mass withdrawals and three substantial withdrawals per year. The plan sponsor of a plan subject to a withdrawal covered by the regulation provides notices of the withdrawal to PBGC and to employers covered by the plan, liability assessments to the employers, and a certification to PBGC that assessments have been made. (For a mass withdrawal, there are two assessments and two certifications that deal with two different types of liability. For a substantial withdrawal, there is one assessment and one certification (combined with the withdrawal notice to PBGC).) The estimated annual burden of the collection of information is 45 hours and $132,000. 7. Procedures for PBGC Approval of Plan Amendments (29 CFR Part 4220) (OMB Control Number 1212-0031) Under section 4220 of ERISA, a plan may within certain limits adopt special plan rules regarding when a withdrawal from the plan occurs and how the withdrawing employer's withdrawal liability is determined. Any such special rule is effective only if, within 90 days after receiving notice and a copy of the rule, PBGC either approves or fails to disapprove the rule. The regulation provides rules for requesting PBGC's approval of an amendment. PBGC needs the required information to identify the plan, evaluate the risk of loss, if any, posed by the plan amendment, and determine whether to approve or disapprove the amendment. PBGC estimates that at most one plan sponsor submits an approval request per year under this regulation. The estimated annual burden of the [[Page 16865]] collection of information is 0.5 hours and $5,000 dollars. Deborah Chase Murphy, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2017-06802 Filed 4-5-17; 8:45 am] BILLING CODE P
![Federal Register / Vol. 82, No. 65 / Thursday, April 6, 2017 / Notices 16863
10. Abstract: Part 75 of 10 CFR PENSION BENEFIT GUARANTY SUPPLEMENTARY INFORMATION: OMB has
requires selected licensees to provide CORPORATION approved and issued control numbers
reports of nuclear material inventory for seven collections of information in
and flow for selected facilities under the Proposed Submission of Information PBGC’s regulations relating to
US/IAEA Safeguards Agreement, permit Collections for OMB Review; Comment multiemployer plans. These collections
inspections by IAEA inspectors, Request; Multiemployer Plan of information are described below.
complementary access of IAEA Regulations OMB approvals for these collections of
inspectors under the Additional information expire June 30, 2017. PBGC
AGENCY: Pension Benefit Guaranty
Protocol, give immediate notice to the intends to request that OMB extend its
Corporation.
NRC in specified situations involving approval of these collections of
the possibility of loss of nuclear ACTION: Notice of intention to request information for three years. An agency
material, and give notice for imports extension of OMB approval of may not conduct or sponsor, and a
and exports of specified amounts of information collections. person is not required to respond to, a
nuclear material. In addition, this collection of information unless it
SUMMARY: The Pension Benefit Guaranty
collection is being renewed to include displays a currently valid OMB control
Corporation (PBGC) intends to request
approximately 25 entities subject to the number. PBGC is soliciting public
that the Office of Management and
U.S.-IAEA Caribbean Territories comments to—
Budget (OMB) extend approval, under
Safeguards Agreement (INFCIRC/366). • Evaluate whether the proposed
the Paperwork Reduction Act, of
These licensees will provide reports of collections of information are necessary
collections of information in PBGC’s
nuclear material inventory and flow for for the proper performance of the
regulations on multiemployer plans
entities under the U.S.-IAEA Caribbean functions of the agency, including
under the Employee Retirement Income
Territories Safeguards Agreement whether the information will have
Security Act of 1974 (ERISA). This
(INFCIRC/366), permit inspections by practical utility;
notice informs the public of PBGC’s
IAEA inspectors, give immediate notice
intent and solicits public comment on • evaluate the accuracy of the
to the NRC in specified situations agency’s estimate of the burden of the
the collections of information.
involving the possibility of loss of proposed collections of information,
nuclear material, and give notice for DATES: Comments must be submitted on including the validity of the
imports and exports of specified or before June 5, 2017. methodologies and assumptions used;
amounts of nuclear material. Licensees ADDRESSES: Comments may be • enhance the quality, utility, and
will also follow written material submitted by any of the following clarity of the information to be
accounting and control procedures, methods: collected; and
although actual reporting of transfer and • Federal eRulemaking Portal: http:// • minimize the burden of the
material balance records to the IAEA www.regulations.gov. (Follow the online collections of information on those who
will be done through the US State instructions for submitting comments.) are to respond, including through the
system (Nuclear Materials Management • Email: reg.comments@pbgc.gov. use of appropriate automated,
and Safeguards System, collected under • Mail or Hand Delivery: Regulatory electronic, mechanical, or other
OMB clearance numbers 3150–0003, Affairs Group, Office of the General technological collection techniques or
3150–0004, 3150–0057, and 3150– Counsel, Pension Benefit Guaranty other forms of information technology,
0058). The NRC needs this information Corporation, 1200 K Street NW., e.g., permitting electronic submission of
to implement its responsibilities under Washington, DC 20005–4026. responses.
the US/IAEA agreement. Comments received, including Comments should identify the
personal information provided, will be specific part number(s) of the
III. Specific Requests for Comments
posted to www.pbgc.gov. Copies of the regulation(s) they relate to.
The NRC is seeking comments that collections of information may also be
address the following questions: obtained by writing to Disclosure 1. Extension of Special Withdrawal
1. Is the proposed collection of Division, Office of the General Counsel, Liability Rules (29 CFR Part 4203)
information necessary for the NRC to Pension Benefit Guaranty Corporation, (OMB Control Number 1212–0023)
properly perform its functions? Does the 1200 K Street NW., Washington, DC Sections 4203(f) and 4208(e)(3) of
information have practical utility? 20005–4026, or calling 202–326–4040 ERISA allow PBGC to permit a
2. Is the estimate of the burden of the during normal business hours. (TTY and multiemployer plan to adopt special
information collection accurate? TDD users may call the Federal relay rules for determining whether a
3. Is there a way to enhance the service toll-free at 800–877–8339 and withdrawal from the plan has occurred,
quality, utility, and clarity of the ask to be connected to 202–326–4040.) subject to PBGC approval.
information to be collected? PBGC’s regulations on multiemployer The regulation specifies the
4. How can the burden of the plans may be accessed on PBGC’s Web information that a plan that adopts
information collection on respondents site at www.pbgc.gov. special rules must submit to PBGC
be minimized, including the use of
FOR FURTHER INFORMATION CONTACT: about the rules, the plan, and the
automated collection techniques or
Hilary Duke (duke.hilary@pbgc.gov), industry in which the plan operates.
other forms of information technology?
Attorney, Regulatory Affairs Group, PBGC uses the information to determine
Dated at Rockville, Maryland, this 31st day Office of the General Counsel, Pension whether the rules are appropriate for the
of March, 2017. Benefit Guaranty Corporation, 1200 K industry in which the plan functions
mstockstill on DSK3G9T082PROD with NOTICES
For the Nuclear Regulatory Commission. Street NW., Washington DC 20005– and do not pose a significant risk to the
David Cullison, 4026; 202–326–4400, extension 3839. insurance system.
NRC Clearance Officer, Information Services (TTY and TDD users may call the PBGC estimates that at most one plan
Branch, Office of the Chief Information Federal relay service toll-free at 800– sponsor submits a request each year
Officer. 877–8339 and ask to be connected to under this regulation. The estimated
[FR Doc. 2017–06785 Filed 4–5–17; 8:45 am] 202–326–4100, ext. 6818, or 202–326– annual burden of the collection of
BILLING CODE 7590–01–P 4400, extension 3839.) information is two hours and $5,000.
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![Federal Register / Vol. 82, No. 65 / Thursday, April 6, 2017 / Notices 16865
collection of information is 0.5 hours proceeding, pursuant to 39 U.S.C. 505 SECURITIES AND EXCHANGE
and $5,000 dollars. (Public Representative). Section II also COMMISSION
Deborah Chase Murphy,
establishes comment deadline(s)
pertaining to each request. [Release No. 34–80358; File No. SR–NYSE–
Assistant General Counsel for Regulatory
Affairs, Pension Benefit Guaranty The public portions of the Postal 2017–11]
Corporation. Service’s request(s) can be accessed via
[FR Doc. 2017–06802 Filed 4–5–17; 8:45 am] the Commission’s Web site (http:// Self-Regulatory Organizations; New
BILLING CODE P www.prc.gov). Non-public portions of York Stock Exchange LLC; Notice of
the Postal Service’s request(s), if any, Filing of Proposed Rule Change To
can be accessed through compliance Amend Listing Standards for
POSTAL REGULATORY COMMISSION with the requirements of 39 CFR Acquisition Companies To Modify the
3007.40. Initial and Continued Distribution
[Docket Nos. MC2017–105 and CP2017–152] Requirements
The Commission invites comments on
New Postal Products whether the Postal Service’s request(s) March 31, 2017.
AGENCY: Postal Regulatory Commission. in the captioned docket(s) are consistent
Pursuant to Section 19(b)(1) 1 of the
with the policies of title 39. For
ACTION: Notice. Securities Exchange Act of 1934 (the
request(s) that the Postal Service states
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
SUMMARY: The Commission is noticing a concern market dominant product(s),
notice is hereby given that, on March
recent Postal Service filing for the applicable statutory and regulatory
20, 2017, New York Stock Exchange
Commission’s consideration concerning requirements include 39 U.S.C. 3622, 39
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
a negotiated service agreement. This U.S.C. 3642, 39 CFR part 3010, and 39
with the Securities and Exchange
notice informs the public of the filing, CFR part 3020, subpart B. For request(s)
Commission (the ‘‘Commission’’) the
invites public comment, and takes other that the Postal Service states concern
proposed rule change as described in
administrative steps. competitive product(s), applicable
Items I, II, and III below, which Items
DATES: Comments are due: April 10, statutory and regulatory requirements
have been prepared by the self-
2017. include 39 U.S.C. 3632, 39 U.S.C. 3633,
regulatory organization. The
ADDRESSES: Submit comments 39 U.S.C. 3642, 39 CFR part 3015, and
Commission is publishing this notice to
electronically via the Commission’s 39 CFR part 3020, subpart B. Comment
solicit comments on the proposed rule
Filing Online system at http:// deadline(s) for each request appear in
change from interested persons.
www.prc.gov. Those who cannot submit section II.
comments electronically should contact I. Self-Regulatory Organization’s
II. Docketed Proceeding(s)
the person identified in the FOR FURTHER Statement of the Terms of Substance of
INFORMATION CONTACT section by 1. Docket No(s).: MC2017–105 and the Proposed Rule Change
telephone for advice on filing CP2017–152; Filing Title: Request of the
alternatives. The Exchange proposes to amend its
United States Postal Service to Add
listing standards for Acquisition
FOR FURTHER INFORMATION CONTACT: Global Expedited Package Services—
Companies (‘‘ACs’’) to modify the initial
David A. Trissell, General Counsel, at Non-Published Rates 12 (GEPS–NPR 12)
and continued distribution
202–789–6820. to the Competitive Products List and
requirements. The proposed rule change
SUPPLEMENTARY INFORMATION: Notice of Filing GEPS–NPR 12 Model
is available on the Exchange’s Web site
Contract and Application for Non-
Table of Contents at www.nyse.com, at the principal office
Public Treatment of Materials Filed
of the Exchange, and at the
I. Introduction Under Seal; Filing Acceptance Date:
Commission’s Public Reference Room.
II. Docketed Proceeding(s) March 31, 2017; Filing Authority: 39
I. Introduction U.S.C. 3642 and 39 CFR 3020.30 et seq.; II. Self-Regulatory Organization’s
Public Representative: Katalin K. Statement of the Purpose of, and
The Commission gives notice that the Clendenin; Comments Due: April 10, Statutory Basis for, the Proposed Rule
Postal Service filed request(s) for the 2017. Change
Commission to consider matters related
to negotiated service agreement(s). The This notice will be published in the In its filing with the Commission, the
request(s) may propose the addition or Federal Register. self-regulatory organization included
removal of a negotiated service Stacy L. Ruble, statements concerning the purpose of,
agreement from the market dominant or and basis for, the proposed rule change
Secretary.
the competitive product list, or the and discussed any comments it received
[FR Doc. 2017–06851 Filed 4–5–17; 8:45 am]
modification of an existing product on the proposed rule change. The text
currently appearing on the market BILLING CODE 7710–FW–P
of those statements may be examined at
dominant or the competitive product the places specified in Item IV below.
list. The Exchange has prepared summaries,
Section II identifies the docket set forth in sections A, B, and C below,
number(s) associated with each Postal
mstockstill on DSK3G9T082PROD with NOTICES
of the most significant parts of such
Service request, the title of each Postal
statements.
Service request, the request’s acceptance
date, and the authority cited by the
Postal Service for each request. For each
request, the Commission appoints an 1 15 U.S.C. 78s(b)(1).
officer of the Commission to represent 2 15 U.S.C. 78a.
the interests of the general public in the 3 17 CFR 240.19b–4.
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Document Created: 2017-04-06 01:46:34
Document Modified: 2017-04-06 01:46:34
| 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 intention to request extension of OMB approval of information collections. | |
| Dates | Comments must be submitted on or before June 5, 2017. | |
| Contact | Hilary Duke ([email protected]), Attorney, Regulatory Affairs Group, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington DC 20005-4026; 202-326-4400, extension 3839. (TTY and TDD users may call the Federal relay service toll-free at 800-877-8339 and ask to be connected to 202-326-4100, ext. 6818, or 202-326-4400, extension 3839.) | |
| FR Citation | 82 FR 16863 |
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