82 FR 59666 - Proposed Submission of Information Collection for OMB Review; Comment Request; Annual Reporting (Form 5500 Series)
PENSION BENEFIT GUARANTY CORPORATION Federal Register Volume 82, Issue 240 (December 15, 2017)
Federal Register Volume 82, Issue 240 (December 15, 2017)
| Page Range | 59666-59667 | |
| FR Document | 2017-27050 |
[Federal Register Volume 82, Number 240 (Friday, December 15, 2017)] [Notices] [Pages 59666-59667] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-27050] ======================================================================= ----------------------------------------------------------------------- PENSION BENEFIT GUARANTY CORPORATION Proposed Submission of Information Collection for OMB Review; Comment Request; Annual Reporting (Form 5500 Series) AGENCY: Pension Benefit Guaranty Corporation. ACTION: Notice of request for extension of OMB approval, with modifications. ----------------------------------------------------------------------- SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, with modifications, under the Paperwork Reduction Act of 1995, of its collection of information for Annual Reporting (OMB control number 1212-0057, which expires on August 31, 2020). 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 16, 2018 to be assured of consideration. 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 Disclosure Division will email, fax, or mail the request to you, at your request. FOR FURTHER INFORMATION CONTACT: Jo Amato Burns ([email protected]), Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005-4026, 202 326-4400, extension 3072, or Daniel S. Liebman ([email protected]), Acting Assistant General Counsel, same address and phone number, extension 6510. 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: The Employee Retirement Income Security Act of 1974 (ERISA) contains three separate sets of provisions--in Title I (Labor provisions), Title II (Internal Revenue Code provisions), and Title IV (PBGC provisions)--requiring administrators of employee pension and welfare benefit plans (collectively referred to as employee benefit plans) to file returns or reports annually with the federal government. PBGC, the Department of Labor (DOL), and the Internal Revenue Service (IRS) work together to produce the Form 5500 Annual Return/ Report of Employee Benefit Plan and Form 5500- [[Page 59667]] SF Short Form Annual Return/Report of Small Employee Benefit Plan (Form 5500 Series), through which the regulated public can satisfy the combined annual reporting/filing requirements applicable to employee benefit plans. PBGC is requesting that OMB extend its approval of this collection of information with the following changes proposed by PBGC to the 2018 Schedule MB (Multiemployer Defined Benefit Plan Actuarial Information) and the 2018 Schedule SB (Single Employer Defined Benefit Plan Actuarial Information), and related instructions, as described below. The two schedules are part of the Form 5500 series. PBGC is proposing three modifications to the 2018 Schedule MB instructions, one modification to the Schedule SB instructions, and one modification to the Schedule SB form. These modifications affect some, but not all, multiemployer defined benefit plans and relatively few single-employers defined benefit plans covered by Title IV of ERISA. The modifications are described in greater detail in the supporting statement submitted to OMB with this information collection, along with PBGC's rationale for each modification. Changes Proposed to Schedule MB Instructions PBGC is proposing to change the instructions to require new attachments in two situations: 1. Where contributions are reported as being made to a multiemployer plan, PBGC is proposing that for each reported contribution, the aggregate amount of withdrawal liability payments included in the contribution be reported. 2. For multiemployer plans in critical status or critical and declining status (i.e., where Code C or Code D is entered on Line 4b), plans currently report the year the plan is projected to become insolvent or emerge from troubled status on Line 4f. However, they are not required to provide supporting documentation for these projections. PBGC is proposing that basic supporting documentation be included as an attachment to Line 4f unless the plan is projected to emerge from critical status within 30 years. 3. The current instructions are unclear about which year should be entered in line 4f if the plan is neither projected to emerge from critical status nor become insolvent within 30 years. PBGC proposes that such a plan should enter ``9999'' in line 4f in this event. Changes Proposed to Schedule SB Instructions and Form With regard to the Schedule SB instructions and form, PBGC is proposing to change the instructions related to an attachment that is currently required of plans for which the IRS has granted permission to use a substitute mortality table. The current instructions for Schedule SB, item 23, reflect IRS regulations on the use of substitute mortality tables (26 CFR 1.430(h)(3)-2) as they pertain to plan years beginning before January 1, 2018. Those rules have changed with respect to plan years beginning on or after January 1, 2018. In its 60-day notice, PBGC proposed requiring plans to report additional information, consistent with IRS' proposal to amend its regulation, as part of the item 23 attachment. After PBGC's 60-day notice, the IRS finalized its mortality table regulation, which set forth the prescribed mortality tables for plan years beginning in or after 2018. Unlike the proposed rule, the final rule provides an option to delay use of the new mortality tables until 2019 if the plan sponsor determines that using the new tables for 2018 would be ``administratively impracticable or would result in an adverse business impact that is greater than de minimis. . . .'' As a result of this change, PBGC is proposing an additional change to Schedule SB, item 23 (one that was not included in the 60-day notice), as well as to the related instructions as explained below. Currently, plans check one of three boxes on Schedule SB to indicate whether they used one of two versions of the prescribed mortality table or a substitute table. Instead of having three choices as to which mortality table is used for 2018, plans will have six choices: Three options if they delay the use of the new tables and three options if they do not delay. For this reason, PBGC is proposing that six checkboxes appear on the 2018 Schedule SB instead of three. On September 19, 2017 (82 FR 43798), PBGC published a notice informing the public that it intended to request OMB approval of the modifications and solicited public comment. PBGC received three comments. The comments and PBGC's responses are described in the supporting statement submitted to OMB for this information collection. This collection of information has been approved by OMB under control number 1212-0057 through August 31, 2020. PBGC is requesting that OMB extend its approval for three years with 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 receive approximately 23,900 Form 5500 and Form 5500-SF filings per year under this collection of information. PBGC further estimates that the total annual burden of this collection of information for PBGC will be 1,300 hours and $1,613,000. Issued in Washington, DC. Daniel S. Liebman, Acting Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2017-27050 Filed 12-14-17; 8:45 am] BILLING CODE 7709-02-P
![59666 Federal Register / Vol. 82, No. 240 / Friday, December 15, 2017 / Notices
kilometers) south-southeast of the cumulative impact to any resource area SUMMARY: The Pension Benefit Guaranty
central processing facility (CPF) at the from the MEA when added to other Corporation (PBGC) is requesting that
existing Crow Butte license area. past, present, and reasonably the Office of Management and Budget
Uranium recovery operations at the foreseeable future actions, and that a (OMB) extend approval, with
MEA would include injection of potential positive cumulative modifications, under the Paperwork
lixiviant into and pumping of water socioeconomic impact could result from Reduction Act of 1995, of its collection
from the uranium-bearing aquifer, additional tax revenue, employment, of information for Annual Reporting
removal of uranium from the pumped and local purchases. (OMB control number 1212–0057,
water using ion exchange, and transport which expires on August 31, 2020). This
Environmental Impacts of the
of loaded ion exchange resin to the notice informs the public of PBGC’s
Alternatives to the Proposed Action
existing Crow Butte CPF for further request and solicits public comment on
processing into yellowcake. Approval of As an alternative to the proposed the collection of information.
the proposed action would authorize action, the staff considered denial of the DATES: Comments must be submitted by
CBR to conduct uranium recovery proposed action (i.e., the ‘‘no-action’’ January 16, 2018 to be assured of
operations at the MEA in accordance alternative). Under the no-action consideration.
with its license amendment application, alternative, the NRC would not
authorize CBR to construct and operate ADDRESSES: Comments should be sent to
NRC source materials license SUA–
the MEA. In situ uranium recovery the Office of Information and Regulatory
1534, and the requirements in 10 CFR
activities would not occur within the Affairs, Office of Management and
part 40, ‘‘Domestic Licensing of Source
MEA and the associated environmental Budget, Attention: Desk Officer for
Material.’’
impacts also would not occur. Pension Benefit Guaranty Corporation,
Environmental Impacts of the Proposed via electronic mail at OIRA_DOCKET@
Action III. Finding of No Significant Impact omb.eop.gov or by fax to (202) 395–
(Draft). 6974. A copy of the request is posted at
In the draft EA, the NRC staff assessed
the potential environmental impacts In accordance with the NEPA and 10 https://www.pbgc.gov/prac/pg/other/
from the construction, operation, aquifer CFR part 51, the NRC staff has guidance/paperwork-notices. It may also
restoration, and decommissioning of the conducted an environmental review of a be obtained without charge by writing to
proposed MEA on the following request for a license amendment to NRC the Disclosure Division of the Office of
resource areas: land use; geology and source materials license SUA–1534 that the General Counsel of PBGC at 1200 K
soils; water resources; ecological would authorize construction and Street NW, Washington, DC 20005,
resources; climatology, meteorology, operation of the MEA. Based on its faxing a request to 202–326–4042, or
and air quality; historic and cultural environmental review of the proposed calling 202–326–4040 during normal
resources; demographics and action, as documented in the draft EA, business hours. TTY and TDD users
socioeconomics; environmental justice; the NRC staff has preliminarily may call the Federal relay service toll-
transportation; noise; scenic and visual determined that granting the requested free at 1 800–877–8339 and ask to be
resources; public and occupational license amendment would not connected to 202–326–4040. The
health; and hazardous materials and significantly affect the quality of the Disclosure Division will email, fax, or
waste management. The NRC staff also human environment. Therefore, the mail the request to you, at your request.
considered the cumulative impacts from NRC staff has preliminarily determined, FOR FURTHER INFORMATION CONTACT: Jo
past, present, and reasonably pursuant to 10 CFR 51.31, that Amato Burns (burns.jo.amato@
foreseeable future actions when preparation of an environmental impact pbgc.gov), Regulatory Affairs Division,
combined with the proposed action. statement is not required for the Office of the General Counsel, Pension
All long-term impacts were proposed action and a FONSI is Benefit Guaranty Corporation, 1200 K
determined to be SMALL. The NRC staff appropriate. Street NW, Washington, DC 20005–
concluded that approval of the proposed Dated at Rockville, Maryland, this 8th day 4026, 202 326–4400, extension 3072, or
action would not result in a significant of December 2017. Daniel S. Liebman (Liebman.Daniel@
increase in short-term or long-term For the U.S. Nuclear Regulatory pbgc.gov), Acting Assistant General
radiological risk to public health or the Commission. Counsel, same address and phone
environment. The NRC staff identified a Brian W. Smith, number, extension 6510. TTY and TDD
potential for MODERATE short-term Acting Director, Division of Fuel Cycle Safety, users may call the Federal relay service
impacts to a few resource areas, Safeguards, and Environmental Review, toll-free at 800–877–8339 and ask to be
including noise (temporary impacts to Office of Nuclear Material Safety and connected to 202–326–4400.
the nearest resident to the MEA during Safeguards. SUPPLEMENTARY INFORMATION: The
construction), ecological resources [FR Doc. 2017–26934 Filed 12–14–17; 8:45 am] Employee Retirement Income Security
(localized and temporary impacts BILLING CODE 7590–01–P Act of 1974 (ERISA) contains three
resulting from the loss and slow separate sets of provisions—in Title I
recovery of forest habitat), and (Labor provisions), Title II (Internal
groundwater resources (short-term PENSION BENEFIT GUARANTY Revenue Code provisions), and Title IV
lowering of the potentiometric surface CORPORATION (PBGC provisions)—requiring
of the Basal Chadron Sandstone administrators of employee pension and
aquifer). While potential MODERATE Proposed Submission of Information welfare benefit plans (collectively
impacts would be expected for specific Collection for OMB Review; Comment
sradovich on DSK3GMQ082PROD with NOTICES
referred to as employee benefit plans) to
aspects of these resource areas, the Request; Annual Reporting (Form 5500 file returns or reports annually with the
impacts are short-term and temporary. Series) federal government.
Therefore, the NRC staff concluded that AGENCY: Pension Benefit Guaranty PBGC, the Department of Labor
the overall impacts related to these Corporation. (DOL), and the Internal Revenue Service
resource areas would be SMALL. (IRS) work together to produce the Form
ACTION: Notice of request for extension
Furthermore, the NRC staff found that 5500 Annual Return/Report of
of OMB approval, with modifications.
there would be no significant negative Employee Benefit Plan and Form 5500–
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![Federal Register / Vol. 82, No. 240 / Friday, December 15, 2017 / Notices 59667
SF Short Form Annual Return/Report of Changes Proposed to Schedule SB changes. An agency may not conduct or
Small Employee Benefit Plan (Form Instructions and Form sponsor, and a person is not required to
5500 Series), through which the With regard to the Schedule SB respond to, a collection of information
regulated public can satisfy the instructions and form, PBGC is unless it displays a currently valid OMB
combined annual reporting/filing proposing to change the instructions control number.
requirements applicable to employee related to an attachment that is PBGC estimates that it will receive
benefit plans. currently required of plans for which approximately 23,900 Form 5500 and
PBGC is requesting that OMB extend the IRS has granted permission to use a Form 5500–SF filings per year under
its approval of this collection of substitute mortality table. The current this collection of information. PBGC
information with the following changes instructions for Schedule SB, item 23, further estimates that the total annual
proposed by PBGC to the 2018 Schedule reflect IRS regulations on the use of burden of this collection of information
MB (Multiemployer Defined Benefit substitute mortality tables (26 CFR for PBGC will be 1,300 hours and
Plan Actuarial Information) and the 1.430(h)(3)–2) as they pertain to plan $1,613,000.
2018 Schedule SB (Single Employer years beginning before January 1, 2018. Issued in Washington, DC.
Defined Benefit Plan Actuarial Those rules have changed with respect Daniel S. Liebman,
Information), and related instructions, to plan years beginning on or after Acting Assistant General Counsel for
as described below. The two schedules January 1, 2018. In its 60-day notice, Regulatory Affairs, Pension Benefit Guaranty
are part of the Form 5500 series. PBGC proposed requiring plans to Corporation.
PBGC is proposing three report additional information, [FR Doc. 2017–27050 Filed 12–14–17; 8:45 am]
modifications to the 2018 Schedule MB consistent with IRS’ proposal to amend BILLING CODE 7709–02–P
instructions, one modification to the its regulation, as part of the item 23
Schedule SB instructions, and one attachment.
modification to the Schedule SB form. After PBGC’s 60-day notice, the IRS OFFICE OF PERSONNEL
These modifications affect some, but not finalized its mortality table regulation, MANAGEMENT
all, multiemployer defined benefit plans which set forth the prescribed mortality
and relatively few single-employers tables for plan years beginning in or Submission for Review: Application for
defined benefit plans covered by Title after 2018. Unlike the proposed rule, the Refund of Retirement Deductions,
IV of ERISA. The modifications are final rule provides an option to delay SF 3106 and Current/Former Spouse(s)
described in greater detail in the use of the new mortality tables until Notification of Application for Refund
supporting statement submitted to OMB 2019 if the plan sponsor determines that of Retirement Deductions Under FERS,
with this information collection, along using the new tables for 2018 would be SF 3106A
with PBGC’s rationale for each ‘‘administratively impracticable or
would result in an adverse business AGENCY: Office of Personnel
modification.
impact that is greater than de minimis. Management.
Changes Proposed to Schedule MB . . .’’ As a result of this change, PBGC ACTION: 30-Day notice and request for
Instructions is proposing an additional change to comments.
PBGC is proposing to change the Schedule SB, item 23 (one that was not SUMMARY: The Retirement Services,
instructions to require new attachments included in the 60-day notice), as well Office of Personnel Management (OPM)
in two situations: as to the related instructions as offers the general public and other
explained below. Federal agencies the opportunity to
1. Where contributions are reported as
Currently, plans check one of three comment on a revised information
being made to a multiemployer plan,
boxes on Schedule SB to indicate collection, Application for Refund of
PBGC is proposing that for each
whether they used one of two versions Retirement Deductions, Federal
reported contribution, the aggregate
of the prescribed mortality table or a Employees Retirement System, SF 3106
amount of withdrawal liability
substitute table. Instead of having three and Current/Former Spouse’s
payments included in the contribution
choices as to which mortality table is Notification of Application for Refund
be reported.
used for 2018, plans will have six of Retirement Deductions Under the
2. For multiemployer plans in critical choices: Three options if they delay the
status or critical and declining status Federal Employees Retirement System,
use of the new tables and three options SF 3106A.
(i.e., where Code C or Code D is entered if they do not delay. For this reason,
on Line 4b), plans currently report the DATES: Comments are encouraged and
PBGC is proposing that six checkboxes
year the plan is projected to become appear on the 2018 Schedule SB instead will be accepted until January 16, 2018.
insolvent or emerge from troubled status of three. ADDRESSES: Interested persons are
on Line 4f. However, they are not On September 19, 2017 (82 FR 43798), invited to submit written comments on
required to provide supporting PBGC published a notice informing the the proposed information collection to
documentation for these projections. public that it intended to request OMB the Office of Information and Regulatory
PBGC is proposing that basic supporting approval of the modifications and Affairs, Office of Management and
documentation be included as an solicited public comment. PBGC Budget, 725 17th Street NW,
attachment to Line 4f unless the plan is received three comments. The Washington, DC 20503, Attention: Desk
projected to emerge from critical status comments and PBGC’s responses are Officer for the Office of Personnel
within 30 years. Management or sent via electronic mail
sradovich on DSK3GMQ082PROD with NOTICES
described in the supporting statement
3. The current instructions are unclear submitted to OMB for this information to oira_submission@omb.eop.gov or
about which year should be entered in collection. faxed to (202) 395–6974.
line 4f if the plan is neither projected to This collection of information has FOR FURTHER INFORMATION CONTACT: A
emerge from critical status nor become been approved by OMB under control copy of this information collection, with
insolvent within 30 years. PBGC number 1212–0057 through August 31, applicable supporting documentation,
proposes that such a plan should enter 2020. PBGC is requesting that OMB may be obtained by contacting the
‘‘9999’’ in line 4f in this event. extend its approval for three years with Retirement Services Publications Team,
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Document Created: 2017-12-15 03:37:25
Document Modified: 2017-12-15 03:37:25
| 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, with modifications. | |
| Dates | Comments must be submitted by January 16, 2018 to be assured of consideration. | |
| Contact | Jo Amato Burns ([email protected]), Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005-4026, 202 326-4400, extension 3072, or Daniel S. Liebman ([email protected]), Acting Assistant General Counsel, | |
| FR Citation | 82 FR 59666 |
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