82 FR 32021 - Submission of Information Collection for OMB Review; Comment Request; Mergers and Transfers Between Multiemployer Plans

PENSION BENEFIT GUARANTY CORPORATION

Federal Register Volume 82, Issue 131 (July 11, 2017)

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Mergers and Transfers Between Multiemployer Plans. This notice informs the public of PBGC's request and solicits public comment on the collection of information.

[Federal Register Volume 82, Number 131 (Tuesday, July 11, 2017)]
[Notices]
[Page 32021]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-14438]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collection for OMB Review; Comment 
Request; Mergers and Transfers Between Multiemployer Plans

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval.

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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting 
that the Office of Management and Budget (OMB) extend approval, under 
the Paperwork Reduction Act, of a collection of information contained 
in its regulation on Mergers and Transfers Between Multiemployer Plans. 
This notice informs the public of PBGC's request and solicits public 
comment on the collection of information.

DATES: Comments must be submitted on or before August 10, 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 PBGC's request may be obtained without charge by writing 
to the Disclosure Division of the Office of the General Counsel, 
Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 
20005-4026, or by 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.reginfo.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 202-326-4400, extension 3839.

SUPPLEMENTARY INFORMATION: Section 4231(a) and (b) of the Employee 
Retirement Income Security Act of 1974 (ERISA) requires plans that are 
involved in a merger or transfer to give PBGC notice at least 120 days 
before the transaction and provides that if PBGC determines that 
specified requirements are satisfied, the transaction will be deemed 
not to be in violation of ERISA section 406(a) or (b)(2) (dealing with 
prohibited transactions).
    PBGC's regulation on Mergers and Transfers Between Multiemployer 
Plans (29 CFR part 4231) sets forth the procedures for giving notice of 
a merger or transfer under section 4231 and for requesting a 
determination that a transaction complies with section 4231.
    PBGC uses information submitted by plan sponsors under the 
regulation to determine whether mergers and transfers conform to the 
requirements of ERISA section 4231 and the regulation.
    The collection of information under the regulation has been 
approved by OMB under control number 1212-0022 through July 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 there are 14 transactions each year for which 
plan sponsors submit notices and approval requests under this 
regulation. The estimated annual burden of the collection of 
information is 9.50 hours and $42,800.

    Issued in Washington, DC.
Deborah Chase Murphy,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2017-14438 Filed 7-10-17; 8:45 am]
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