82 FR 25017 - Submission of Information Collection for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans

PENSION BENEFIT GUARANTY CORPORATION

Federal Register Volume 82, Issue 103 (May 31, 2017)

Page Range		25017-25017
FR Document		2017-10785

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (``OMB'') extend approval without change, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Liability for Termination of Single-Employer Plans (OMB control number 1212-0017; expires May 31, 2017). This notice informs the public of PBGC's intent and solicits public comment on the collection of information.

Federal Register, Volume 82 Issue 103 (Wednesday, May 31, 2017)

[Federal Register Volume 82, Number 103 (Wednesday, May 31, 2017)]
[Notices]
[Page 25017]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-10785]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Liability for Termination of Single-Employer Plans

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval without change.

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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting 
that the Office of Management and Budget (``OMB'') extend approval 
without change, under the Paperwork Reduction Act, of a collection of 
information contained in its regulation on Liability for Termination of 
Single-Employer Plans (OMB control number 1212-0017; expires May 31, 
2017). This notice informs the public of PBGC's intent and solicits 
public comment on the collection of information.

DATES: Comments should be submitted by June 30, 2017.

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. A copy of the 
request is posted at https://www.pbgc.gov/prac/pg/other/guidance/paperwork-notices. It may also be obtained without charge by writing to 
the Disclosure Division of the Office of the General Counsel of PBGC at 
1200 K Street NW., Washington, DC 20005, faxing a request to 202-326-
4042, 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 regulation on Liability 
for Termination of Single-Employer Plans can be found at www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT: Jo Amato Burns 
([email protected]), Regulatory Affairs Group, Office of the 
General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street 
NW., Washington, DC 20005-4026, 202-326-4400, extension 3072, or 
Deborah C. Murphy ([email protected]), Assistant General Counsel, 
same address and phone number, extension 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.

SUPPLEMENTARY INFORMATION: Section 4062 of the Employee Retirement 
Income Security Act of 1974 (``ERISA'') provides that the contributing 
sponsor of a single-employer pension plan and members of the sponsor's 
controlled group (``the employer'') incur liability (``employer 
liability'') if the plan terminates with assets insufficient to pay 
benefit liabilities under the plan. PBGC's statutory lien for employer 
liability and the payment terms for employer liability are affected by 
whether and to what extent employer liability exceeds 30 percent of the 
employer's net worth.
    Section 4062.6 of PBGC's employer liability regulation (29 CFR 
4062.6) requires a contributing sponsor, or member of the contributing 
sponsor's controlled group, that believes employer liability exceeds 30 
percent of the collective net worth of persons subject to liability in 
connection with a plan termination to so notify PBGC upon plan 
termination and to submit net worth information. This information is 
necessary to enable PBGC to determine whether, and to what extent, 
employer liability exceeds 30 percent of the collective net worth of 
the employer (which includes the contributing sponsor and all and 
members of the sponsor's controlled group).
    The collection of information under the regulation has been 
approved by OMB under control number 1212-0017 through May 31, 2017. 
PBGC is requesting that OMB extend its 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.
    PBGC estimates that an average of thirty contributing sponsors or 
controlled group members per year will respond to this collection of 
information. PBGC further estimates that the average annual burden of 
this collection of information will be 12 hours and $4,440 per 
respondent, with an average total annual burden of 360 hours and 
$133,200.

    Issued in Washington, DC.
Deborah Chase Murphy,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2017-10785 Filed 5-30-17; 8:45 am]
BILLING CODE 7709-02-P

Federal Register / Vol. 82, No. 103 / Wednesday, May 31, 2017 / Notices 25017

a document is referenced. The basis for PENSION BENEFIT GUARANTY provides that the contributing sponsor
withdrawal of RGs 5.28, 5.49, and 5.57 CORPORATION of a single-employer pension plan and
is available in ADAMS under Accession members of the sponsor’s controlled
No(s). ML17055B973, ML17055B974, Submission of Information Collection group (‘‘the employer’’) incur liability
and ML17055B968, respectively. for OMB Review; Comment Request; (‘‘employer liability’’) if the plan
Liability for Termination of Single-
• NRC’s PDR: You may examine and terminates with assets insufficient to
Employer Plans pay benefit liabilities under the plan.
purchase copies of public documents at
the NRC’s PDR, Room O1–F21, One AGENCY: Pension Benefit Guaranty PBGC’s statutory lien for employer
White Flint North, 11555 Rockville Corporation. liability and the payment terms for
Pike, Rockville, Maryland 20852. ACTION: Notice of request for extension employer liability are affected by
of OMB approval without change. whether and to what extent employer
FOR FURTHER INFORMATION CONTACT: liability exceeds 30 percent of the
Glenn Tuttle, Office of Nuclear Material SUMMARY: The Pension Benefit Guaranty employer’s net worth.
Safety and Safeguards, telephone: 301– Corporation (PBGC) is requesting that
415–7230, email: Glenn.Tuttle@nrc.gov, Section 4062.6 of PBGC’s employer
the Office of Management and Budget liability regulation (29 CFR 4062.6)
and Mekonen Bayssie, Office of (‘‘OMB’’) extend approval without
Research, telephone: 301–415–1699, requires a contributing sponsor, or
change, under the Paperwork Reduction
email: Mekonen.Bayssie@nrc.gov. Both member of the contributing sponsor’s
Act, of a collection of information
are staff of the U.S. Nuclear Regulatory contained in its regulation on Liability controlled group, that believes employer
Commission, Washington, DC 20555– for Termination of Single-Employer liability exceeds 30 percent of the
0001. Plans (OMB control number 1212–0017; collective net worth of persons subject
expires May 31, 2017). This notice to liability in connection with a plan
SUPPLEMENTARY INFORMATION: The NRC informs the public of PBGC’s intent and termination to so notify PBGC upon
is withdrawing RGs 5.28, 5.49, and 5.57 solicits public comment on the plan termination and to submit net
because this guidance has been collection of information. worth information. This information is
incorporated into RG 5.41, ‘‘Shipping, DATES: Comments should be submitted necessary to enable PBGC to determine
Receiving, and Internal Transfer of by June 30, 2017. whether, and to what extent, employer
Special Nuclear Material,’’ (ADAMS liability exceeds 30 percent of the
ADDRESSES: Comments should be sent to
Accession No. ML16348A213) and RGs collective net worth of the employer
the Office of Information and Regulatory
5.28, 5.49, and 5.57 are therefore no (which includes the contributing
Affairs, Office of Management and
longer needed. These three RGs were sponsor and all and members of the
Budget, Attention: Desk Officer for
issued by the NRC staff in the 1970s to sponsor’s controlled group).
Pension Benefit Guaranty Corporation,
1980s to provide guidance that was via electronic mail at OIRA_DOCKET@ The collection of information under
considered acceptable for complying omb.eop.gov or by fax to (202) 395– the regulation has been approved by
with the NRC’s regulations related to the 6974. A copy of the request is posted at OMB under control number 1212–0017
shipment, receipt, and transfer of https://www.pbgc.gov/prac/pg/other/ through May 31, 2017. PBGC is
special nuclear materials. RG 5.41 is guidance/paperwork-notices. It may also requesting that OMB extend its approval
being issued to update the guidance that be obtained without charge by writing to for another three years. An agency may
is being withdrawn. A notice issuing RG the Disclosure Division of the Office of not conduct or sponsor, and a person is
5.41 has been published in this issue of the General Counsel of PBGC at 1200 K not required to respond to, a collection
the Federal Register (see Docket ID Street NW., Washington, DC 20005, of information unless it displays a
NRC–2016–0189). faxing a request to 202–326–4042, or currently valid OMB control number.
The withdrawal of RGs 5.28, 5.49, and calling 202–326–4040 during normal
business hours. TTY and TDD users PBGC estimates that an average of
5.57 does not alter any prior or existing
may call the Federal relay service toll- thirty contributing sponsors or
NRC licensing approval or the
free at 1–800–877–8339 and ask to be controlled group members per year will
acceptability of licensee commitments
connected to 202–326–4040. The respond to this collection of
made regarding the withdrawn
guidance. Although RGs 5.28, 5.49, and regulation on Liability for Termination information. PBGC further estimates
5.57 are withdrawn, current licensees of Single-Employer Plans can be found that the average annual burden of this
referencing these RGs may continue to at www.pbgc.gov. collection of information will be 12
do so, and withdrawal does not affect FOR FURTHER INFORMATION CONTACT: Jo hours and $4,440 per respondent, with
any existing licenses or agreements. Amato Burns (burns.jo.amato@ an average total annual burden of 360
However, by withdrawing RGs 5.28, pbgc.gov), Regulatory Affairs Group, hours and $133,200.
5.49, and 5.57, the NRC no longer Office of the General Counsel, Pension Issued in Washington, DC.
approves reliance upon such guidance Benefit Guaranty Corporation, 1200 K Deborah Chase Murphy,
in future requests or applications for Street NW., Washington, DC 20005–
Assistant General Counsel for Regulatory
NRC licensing actions. 4026, 202–326–4400, extension 3072, or
Affairs, Pension Benefit Guaranty
Deborah C. Murphy (murphy.deborah@
Dated at Rockville, Maryland, this 25th day Corporation.
pbgc.gov), Assistant General Counsel,
of May 2017. [FR Doc. 2017–10785 Filed 5–30–17; 8:45 am]
same address and phone number,
nlaroche on DSK30NT082PROD with NOTICES

For the Nuclear Regulatory Commission. extension 3451. TTY and TDD users BILLING CODE 7709–02–P
Thomas H. Boyce, may call the Federal relay service toll-
Chief, Regulatory Guidance and Generic free at 800–877–8339 and ask to be
Issues Branch, Division of Engineering, Office connected to 202–326–4400.
of Nuclear Regulatory Research. SUPPLEMENTARY INFORMATION: Section
[FR Doc. 2017–11225 Filed 5–30–17; 8:45 am] 4062 of the Employee Retirement
BILLING CODE 7590–01–P Income Security Act of 1974 (‘‘ERISA’’)

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Document Created: 2017-05-31 05:59:46
Document Modified: 2017-05-31 05:59:46

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 without change.
Dates		Comments should be submitted by June 30, 2017.
Contact		Jo Amato Burns ([email protected]), Regulatory Affairs Group, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026, 202-326-4400, extension 3072, or Deborah C. Murphy ([email protected]), Assistant General Counsel,
FR Citation		82 FR 25017