82 FR 8882 - Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium
PENSION BENEFIT GUARANTY CORPORATION Federal Register Volume 82, Issue 19 (January 31, 2017)
Federal Register Volume 82, Issue 19 (January 31, 2017)
| Page Range | 8882-8883 | |
| FR Document | 2017-02018 |
[Federal Register Volume 82, Number 19 (Tuesday, January 31, 2017)] [Notices] [Pages 8882-8883] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-02018] ======================================================================= ----------------------------------------------------------------------- PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium AGENCY: Pension Benefit Guaranty Corporation. ACTION: Notice of request for extension of OMB approval of collection of information. ----------------------------------------------------------------------- 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 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 request and solicits public comment on the collection of information. DATES: Comments should be submitted by March 2, 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. The currently approved collection of information (Form T and instructions) and PBGC's premium payment regulation may be found on PBGC's Web site at http://www.pbgc.gov/prac/prem/termination-premiums.html. Copies of the proposed collection of information and PBGC's request will be posted at http://www.pbgc.gov/res/laws-and- [[Page 8883]] regulations/information-collections-under-omb-review.html. They may also be obtained without charge by writing to the Disclosure Division of the Office of the General Counsel of PBGC, 1200 K Street NW., Washington, DC 20005, 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, 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 or [email protected]. (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 is requesting 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. Deborah Chase Murphy, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2017-02018 Filed 1-30-17; 8:45 am] BILLING CODE 7709-02-P
![8882 Federal Register / Vol. 82, No. 19 / Tuesday, January 31, 2017 / Notices
FOR FURTHER INFORMATION CONTACT: ADAMS. Comment submissions are not completed form may be used to
David Cullison, NRC Clearance Officer, routinely edited to remove identifying examine, rate and/or assess the
U.S. Nuclear Regulatory Commission, or contact information. prospective employee’s qualifications.
Washington, DC 20555–0001; telephone: If you are requesting or aggregating The information regarding the
301–415–2084; email: comments from other persons for qualifications of applicants for
INFOCOLLECTS.Resource@nrc.gov. submission to the OMB, then you employment is reviewed by professional
SUPPLEMENTARY INFORMATION: should inform those persons not to personnel of the Office of the Chief
include identifying or contact Human Capital Officer, in conjunction
I. Obtaining Information and information that they do not want to be with other information in the NRC files,
Submitting Comments publicly disclosed in their comment to determine the qualifications of the
A. Obtaining Information submission. Your request should state applicant for appointment to the
that comment submissions are not position under consideration.
Please refer to Docket ID NRC–2016– routinely edited to remove such
0070 when contacting the NRC about Dated at Rockville, Maryland, this 26th day
information before making the comment of January 2017.
the availability of information for this submissions available to the public or
action. You may obtain publicly- For the Nuclear Regulatory Commission.
entering the comment into ADAMS.
available information related to this David Cullison,
action by any of the following methods: II. Background NRC Clearance Officer, Office of the Chief
• Federal Rulemaking Web site: Go to Under the provisions of the Information Officer.
http://www.regulations.gov and search Paperwork Reduction Act of 1995 (44 [FR Doc. 2017–02053 Filed 1–30–17; 8:45 am]
for Docket ID NRC–2016–0070. A copy U.S.C. Chapter 35), the NRC recently BILLING CODE 7590–01–P
of the collection of information and submitted a request for renewal of an
related instructions may be obtained existing collection of information to
without charge by accessing Docket ID OMB for review entitled, ‘‘NRC Form PENSION BENEFIT GUARANTY
NRC–2016–0070 on this Web site. 212, ‘‘Qualifications Investigation CORPORATION
NRC’s Agencywide Documents Access Professional, Technical, and
and Management System (ADAMS): Administrative Positions’’. The NRC Submission of Information Collections
You may obtain publicly-available hereby informs potential respondents for OMB Review; Comment Request;
documents online in the ADAMS Public that an agency may not conduct or Payment of Premiums; Termination
Documents collection at http:// sponsor, and that a person is not Premium
www.nrc.gov/reading-rm/adams.html. required to respond to, a collection of
To begin the search, select ‘‘ADAMS AGENCY: Pension Benefit Guaranty
information unless it displays a Corporation.
Public Documents’’ and then select currently valid OMB control number.
‘‘Begin Web-based ADAMS Search.’’ For ACTION: Notice of request for extension
The NRC published a Federal of OMB approval of collection of
problems with ADAMS, please contact Register notice with a 60-day comment
the NRC’s Public Document Room (PDR) information.
period on this information collection on
reference staff at 1–800–397–4209, 301– August 3, 2016 (81 FR 51215). SUMMARY: The Pension Benefit Guaranty
415–4737, or by email to pdr.resource@ 1. The title of the information Corporation (PBGC) is requesting that
nrc.gov. A copy of the collection of collection: NRC Form 212, the Office of Management and Budget
information and related instructions ‘‘Qualifications Investigation (OMB) extend approval, under the
may be obtained without charge by Professional, Technical, and Paperwork Reduction Act, of the
accessing ADAMS Accession No. Administrative Positions.’’ collection of information for the
ML16168A217. The supporting 2. OMB approval number: 3150–0033. termination premium under its
statement is available in ADAMS under 3. Type of submission: Extension. regulation on Payment of Premiums (29
Accession No. ML16305A089. 4. The form number if applicable: CFR part 4007) (OMB control number
• NRC’s PDR: You may examine and NRC Form 212. 1212–0064; expires February 28, 2017),
purchase copies of public documents at 5. How often the collection is required without changes. This notice informs
the NRC’s PDR, Room O1–F21, One or requested: The form is collected for the public of PBGC’s request and solicits
White Flint North, 11555 Rockville every new hire to the NRC. public comment on the collection of
Pike, Rockville, Maryland 20852. 6. Who will be required or asked to information.
• NRC’s Clearance Officer: A copy of respond: Former employers,
the collection of information and related supervisors, and other references DATES: Comments should be submitted
instructions may be obtained without indicated on the job application are by March 2, 2017.
charge by contacting the NRC’s asked to complete the NRC Form 212. ADDRESSES: Comments should be sent to
Clearance Officer, David Cullison, 7. The estimated number of annual the Office of Information and Regulatory
Office of the Chief Information Officer, responses: 1,000. Affairs, Office of Management and
U.S. Nuclear Regulatory Commission, 8. The estimated number of annual Budget, Attention: Desk Officer for
Washington, DC 20555–0001; telephone: respondents: 1,000. Pension Benefit Guaranty Corporation,
301–415–2084; email: 9. An estimate of the total number of via electronic mail at OIRA_DOCKET@
INFOCOLLECTS.Resource@NRC.GOV. hours needed annually to comply with omb.eop.gov or by fax to 202–395–6974.
the information collection requirement The currently approved collection of
asabaliauskas on DSK3SPTVN1PROD with NOTICES
B. Submitting Comments or request: 500 hours. information (Form T and instructions)
The NRC cautions you not to include 10. Abstract: Information requested and PBGC’s premium payment
identifying or contact information in on NRC Form 212, ‘‘Qualifications regulation may be found on PBGC’s Web
comment submissions that you do not Investigation, Professional, Technical, site at http://www.pbgc.gov/prac/prem/
want to be publicly disclosed in your and Administrative Positions’’ is used to termination-premiums.html. Copies of
comment submission. All comment determine the qualifications and the proposed collection of information
submissions are posted at http:// suitability of external applicants for and PBGC’s request will be posted at
www.regulations.gov and entered into employment with the NRC. The http://www.pbgc.gov/res/laws-and-
VerDate Sep<11>2014 18:22 Jan 30, 2017 Jkt 241001 PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 E:\FR\FM\31JAN1.SGM 31JAN1](https://thefederalregister.org/doc/82_FR_8901/page/1.svg)
![Federal Register / Vol. 82, No. 19 / Tuesday, January 31, 2017 / Notices 8883
regulations/information-collections- $1,250 times the number of participants. SECURITIES AND EXCHANGE
under-omb-review.html. They may also However, the rate is increased from COMMISSION
be obtained without charge by writing to $1,250 to $2,500 in certain cases
[Release No. 34–79873; File No SR–CBOE–
the Disclosure Division of the Office of involving commercial airline or airline 2017–007]
the General Counsel of PBGC, 1200 K catering service plans. The termination
Street NW., Washington, DC 20005, or premium is due on the 30th day of each Self-Regulatory Organizations;
by calling 202–326–4040 during normal of three consecutive 12-month periods. Chicago Board Options Exchange,
business hours. (TTY and TDD users The first 12-month period generally Incorporated; Notice of Filing and
may call the Federal relay service toll- begins shortly after the termination date Immediate Effectiveness of a Proposed
free at 800–877–8339 and ask to be or after the conclusion of bankruptcy Rule Change To Amend the Fees
connected to 202–326–4040.) proceedings in certain cases. Schedule
FOR FURTHER INFORMATION CONTACT: The termination premium and related
January 25, 2017.
Deborah C. Murphy, Assistant General information must be filed by a person
Counsel for Regulatory Affairs, Office of Pursuant to Section 19(b)(1) of the
liable for the termination premium. The
the General Counsel, Pension Benefit Securities Exchange Act of 1934 (the
persons liable for the termination
Guaranty Corporation, 1200 K Street ‘‘Act’’),1 and Rule 19b–4 thereunder,2
premium are contributing sponsors and
NW., Washington, DC 20005–4026, 202– notice is hereby given that on January
members of their controlled groups,
326–4400 ext.3451 or Murphy.Deborah@ 17, 2017, Chicago Board Options
determined on the day before the plan
Exchange, Incorporated (the ‘‘Exchange’’
pbgc.gov. (TTY and TDD users may call termination date. Interest on late
or ‘‘CBOE’’) filed with the Securities
the Federal relay service toll-free at termination premiums is charged at the
and Exchange Commission (the
800–877–8339 and ask to be connected rate imposed under section 6601(a) of
‘‘Commission’’) the proposed rule
to 202–326–4400 ext 3451.) the Internal Revenue Code,
change as described in Items I, II, and
SUPPLEMENTARY INFORMATION: The compounded daily, from the due date to III below, which Items have been
Pension Benefit Guaranty Corporation the payment date. Penalties based on prepared by the Exchange. The
(PBGC) administers the pension plan facts and circumstances may be assessed Commission is publishing this notice to
termination insurance program under both for failure to timely pay the solicit comments on the proposed rule
title IV of the Employee Retirement termination premium and for failure to change from interested persons.
Income Security Act of 1974 (ERISA). timely file required related information
Section 4006(a)(7) of ERISA provides for and may be waived in appropriate I. Self-Regulatory Organization’s
a ‘‘termination premium’’ (in addition to circumstances. A penalty for late Statement of the Terms of Substance of
the flat-rate and variable-rate premiums payment will not exceed the amount of the Proposed Rule Change
under section 4006(a)(3) and (8) of termination premium paid late. Section The Exchange proposes to amend its
ERISA) that is payable for three years 4007.10 of the premium payment Fees Schedule. The text of the proposed
following certain distress and regulation requires the retention of rule change is also available on the
involuntary plan terminations. PBGC’s records supporting or validating the Exchange’s Web site (http://
regulations on Premium Rates (29 CFR computation of premiums paid and www.cboe.com/AboutCBOE/
part 4006) and Payment of Premiums requires that the records be made CBOELegalRegulatoryHome.aspx), at
(29 CFR part 4007) implement the available to PBGC. the Exchange’s Office of the Secretary,
termination premium. Sections 4007.3 OMB has approved the termination and at the Commission’s Public
and 4007.13(b) of the premium payment premium collection of information Reference Room.
regulation require the filing of (Form T and instructions) under control II. Self-Regulatory Organization’s
termination premium information and number 1212–0064 through February Statement of the Purpose of, and
payments with PBGC. PBGC has 28, 2017. PBGC is requesting that OMB Statutory Basis for, the Proposed Rule
promulgated Form T and instructions extend approval of this collection of Change
for paying the termination premium. information for three years, without
In general, the termination premium changes. An agency may not conduct or In its filing with the Commission, the
applies where a single-employer plan sponsor, and a person is not required to Exchange included statements
terminates in a distress termination respond to, a collection of information concerning the purpose of and basis for
under ERISA section 4041(c) (unless unless it displays a currently valid OMB the proposed rule change and discussed
contributing sponsors and controlled control number. any comments it received on the
group members meet the bankruptcy proposed rule change. The text of these
PBGC estimates that it will each year
liquidation requirements of ERISA statements may be examined at the
receive an average of about 1 filing for
section 4041(c)(2)(B)(i)) or in an places specified in Item IV below. The
the first year a termination premium is
involuntary termination under ERISA Exchange has prepared summaries, set
due, 1 filing for the second year a
section 4042, and the termination date forth in sections A, B, and C below, of
termination premium is due, and 1
under section 4048 of ERISA is after the most significant aspects of such
filing for the third year a termination
2005. The termination premium does statements.
premium is due, from a total of about 3
not apply in certain cases where respondents. PBGC estimates that the A. Self-Regulatory Organization’s
termination occurs during a bankruptcy total annual burden of the collection of Statement of the Purpose of, and
proceeding filed before October 18,
asabaliauskas on DSK3SPTVN1PROD with NOTICES
information will be about 15 minutes Statutory Basis for, the Proposed Rule
2005. and $200. Change
The termination premium is payable
for three years. The same amount is Deborah Chase Murphy, 1. Purpose
payable each year. The amount of each Assistant General Counsel for Regulatory The Exchange proposes to adopt a
payment is based on the number of Affairs, Pension Benefit Guaranty new Liquidity Provider Sliding Scale
participants in the plan as of the day Corporation.
before the termination date. In general, [FR Doc. 2017–02018 Filed 1–30–17; 8:45 am] 1 15 U.S.C. 78s(b)(1).
the amount of each payment is equal to BILLING CODE 7709–02–P 2 17 CFR 240.19b–4.
VerDate Sep<11>2014 18:22 Jan 30, 2017 Jkt 241001 PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 E:\FR\FM\31JAN1.SGM 31JAN1](https://thefederalregister.org/doc/82_FR_8901/page/2.svg)
Document Created: 2017-01-31 00:20:01
Document Modified: 2017-01-31 00:20:01
| 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 of collection of information. | |
| Dates | Comments should be submitted by March 2, 2017. | |
| Contact | Deborah C. Murphy, 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 or [email protected] (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 | 82 FR 8882 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR