83 FR 51713 - Submission of Information Collections for OMB Review; Comment Request; Reportable Events; Notice of Failure To Make Required Contributions

PENSION BENEFIT GUARANTY CORPORATION

Federal Register Volume 83, Issue 198 (October 12, 2018)

Page Range		51713-51714
FR Document		2018-22229

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of collections of information under PBGC's regulation on Reportable Events and Certain Other Notification Requirements with modifications. This notice informs the public of PBGC's request and solicits public comment on the collection.

Federal Register, Volume 83 Issue 198 (Friday, October 12, 2018)

[Federal Register Volume 83, Number 198 (Friday, October 12, 2018)]
[Notices]
[Pages 51713-51714]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-22229]


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PENSION BENEFIT GUARANTY CORPORATION


Submission of Information Collections for OMB Review; Comment 
Request; Reportable Events; Notice of Failure To Make Required 
Contributions

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of request for extension of OMB approval.

-----------------------------------------------------------------------

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 collections of information under PBGC's 
regulation on Reportable Events and Certain Other Notification 
Requirements with modifications. This notice informs the public of 
PBGC's request and solicits public comment on the collection.

DATES: Comments must be submitted by November 13, 2018.

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 will be posted on PBGC's website at https://

[[Page 51714]]

www.pbgc.gov/prac/laws-and-regulations/information-collections-under-
omb-review. It may also be obtained without charge by writing to the 
Disclosure Division of the Office of the General Counsel, 1200 K Street 
NW, Washington, DC 20005-4026, faxing a request to 202-326-4042, or 
calling 202-326-4040 during normal business hours (TTY 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 information to you, as you request.

FOR FURTHER INFORMATION CONTACT: Stephanie Cibinic, Deputy Assistant 
General Counsel for Regulatory Affairs ([email protected]; 
202-326-4400, extension 6352), Office of the General Counsel, Pension 
Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005-
4026. TTY users may call the Federal relay service toll-free at 1-800-
877-8339 and ask to be connected to 202-326-4400, extension 6352.

SUPPLEMENTARY INFORMATION: Section 4043 of the Employee Retirement 
Income Security Act of 1974 (ERISA) requires plan administrators and 
plan sponsors to report certain plan and employer events to PBGC. The 
reporting requirements give PBGC notice of events that may indicate 
plan or employer financial problems. PBGC uses the information provided 
in determining what, if any, action it needs to take. For example, PBGC 
might need to institute proceedings to terminate a plan (placing it in 
trusteeship) under section 4042 of ERISA to ensure the continued 
payment of benefits to plan participants and their beneficiaries or to 
prevent unreasonable increases in PBGC's losses.
    The provisions of section 4043 of ERISA have been implemented in 
PBGC's regulation on Reportable Events and Certain Other Notification 
Requirements (29 CFR part 4043). Subparts B and C of the regulation 
deal with reportable events.
    PBGC has issued Forms 10 and 10-Advance and related instructions 
under subparts B and C (approved under OMB control number 1212-0013). 
OMB approval of this collection of information expires November 30, 
2018. PBGC is requesting that OMB extend its approval for another three 
years, with modifications. 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 proposing in this renewal request that all reportable 
events filings include controlled group information, company financial 
statements, and the plan's actuarial valuation report. Currently there 
are five reportable events where some or all of that information isn't 
required. All three types of information would be added to two of these 
events (``Active Participant Reduction'' and ``Distribution to a 
Substantial Owner''). One type of information would be added to two 
events (``Transfer of Benefit Liabilities'' and ``Change in 
Contributing Sponsor or Controlled Group''), and two types to one event 
(``Extraordinary Dividend or Stock Redemption''). These reporting 
requirements give PBGC notice of events that may indicate plan or 
employer financial problems. The additional information is needed to 
help PBGC determine a sponsor's ability to continue to maintain a 
pension plan.
    PBGC estimates that requiring this information will add 30 minutes 
to approximately 30 percent of the 568 reportable events notices it 
expects to receive in a year under subpart B of the reportable events 
regulation using Form 10 (out of approximately 590 that includes 
notices under subpart C using the Form 10-Advance). PBGC further 
estimates that the total average annual burden of this collection of 
information is 1,855 hours and $439,500.
    Section 303(k) of the Employee Retirement Income Security Act of 
1974 (ERISA) and section 430(k) of the Internal Revenue Code of 1986 
(Code) impose a lien in favor of an underfunded single-employer plan 
that is covered by PBGC's termination insurance program if (1) any 
person fails to make a required payment when due, and (2) the unpaid 
balance of that payment (including interest), when added to the 
aggregate unpaid balance of all preceding payments for which payment 
was not made when due (including interest), exceeds $1 million. (For 
this purpose, a plan is underfunded if its funding target attainment 
percentage is less than 100 percent.) The lien is upon all property and 
rights to property belonging to the person or persons that are liable 
for required contributions (i.e., a contributing sponsor and each 
member of the controlled group of which that contributing sponsor is a 
member).
    Only PBGC (or, at its direction, the plan's contributing sponsor or 
a member of the same controlled group) may perfect and enforce this 
lien. ERISA and the Code require persons that fail to make payments to 
notify PBGC within 10 days of the due date whenever there is a failure 
to make a required payment and the total of the unpaid balances 
(including interest) exceeds $1 million.
    PBGC Form 200, Notice of Failure to Make Required Contributions, 
and related instructions implement the statutory notification 
requirement. Submission of Form 200 is required by 29 CFR 4043.81 
(Subpart D of PBGC's regulation on Reportable Events and Other 
Notification Requirements, 29 CFR part 4043).
    OMB has approved this collection of information under OMB control 
number 1212-0041, which expires November 30, 2018. PBGC is requesting 
that OMB extend its approval for another three years, with minor 
modifications. 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 100 Form 200 filings per year 
and that the average annual burden of this collection of information is 
100 hours and $72,500.

    Issued in Washington, DC.
Stephanie Cibinic,
Deputy Assistant General Counsel for Regulatory Affairs, Pension 
Benefit Guaranty Corporation.
[FR Doc. 2018-22229 Filed 10-11-18; 8:45 am]
 BILLING CODE 7709-02-P

Federal Register / Vol. 83, No. 198 / Friday, October 12, 2018 / Notices 51713

applicants for ESP, DC and COL are part 50 construction permits and apply to every NRC action that
respectively required to document an operating licenses is not included in the substantially changes the expectations
evaluation against applicable sections of current revision of RG 1.206 and RG of current and future applicants. The
the SRP and describe differences in 1.70 has not been withdrawn. exceptions to the general principle are
specific information provided in the The technical application guidance applicable whenever an applicant
SRP including measures given in the for a safety analysis report that was references a 10 CFR part 52 license (e.g.,
SRP acceptance criteria. This previously included in RG 1.206, an early site permit), an NRC regulatory
requirement effectively provides Revision 0, is being updated to reflect approval (e.g., a design certification
applicants more current and lessons learned and will be developed rule), or both, with specified issue
comprehensive information related to into interim staff guidance (ISG), a finality provisions. The staff does not, at
detailed COL safety analysis report NUREG, or other knowledge this time, intend to impose the positions
technical content and methods or management document. The document represented in RG 1.206, Revision 1, in
approaches that the staff previously has is expected to be useful to both a manner that is inconsistent with any
found acceptable for meeting NRC applicants and to staff working on issue finality provisions. If, in the
requirements than what is available in future updates to the SRP, however, future, the staff seeks to impose a
RG 1.206, Rev. 0. direct incorporation of applicant position in RG 1.206, Revision 1, in a
The guidance in RG 1.206, Revision 1, guidance in the SRP is not expected. manner that does not provide issue
is divided into two parts: Section C.1 finality as described in the applicable
provides guidance for the organization, II. Additional Information
issue finality provision, then the staff
content, and format of an application The NRC published a notice of the must address the criteria for avoiding
under 10 CFR part 52; and Section C.2 availability of DG–1325 in the Federal issue finality as described in the
contains information and guidance on a Register on June 20, 2017, Volume 82, applicable issue finality provision.
number of application regulatory topics page 28101, for a 90-day public Dated at Rockville, Maryland, this 9th day
related to the preparation, submittal, comment period. The public comment of October 2018.
acceptance, and review of applications. period closed on September 18, 2017. For the Nuclear Regulatory Commission.
The application regulatory topics Public comments on DG–1325 and the Jennivine K. Rankin,
include updated guidance that will staff responses to the public comments
Acting Chief, Licensing Branch 3, Division
allow the withdrawal of interim staff are available in ADAMS under of Licensing, Siting, and Environmental
guidance. The NRC staff withdraws the Accession No. ML18129A197. Analysis, Office of New Reactors.
following four documents:
• DC/COL–ISG–011, ‘‘Interim Staff III. Congressional Review Act [FR Doc. 2018–22262 Filed 10–11–18; 8:45 am]
BILLING CODE 7590–01–P
Guidance Finalizing Licensing Basis This RG is a rule as defined in the
Information’’ (ADAMS Accession No. Congressional Review Act (5 U.S.C.
ML092890623), 801–808). However, the Office of
• ESP/DC/COL–ISG–015, ‘‘Interim Management and Budget has not found PENSION BENEFIT GUARANTY
Staff Guidance on Post Combined it to be a major rule as defined in the CORPORATION
License Commitments’’ (ADAMS Congressional Review Act.
Accession No. ML091671355), Submission of Information Collections
• COL/ESP–ISG–04, ‘‘Interim Staff IV. Backfitting and Issue Finality for OMB Review; Comment Request;
Guidance on the Definition of RG 1.206, Revision 1, provides Reportable Events; Notice of Failure
Construction and on Limited Work guidance for applicants regarding the To Make Required Contributions
Authorizations’’ (ADAMS Accession format and content of applications for AGENCY: Pension Benefit Guaranty
No. ML082970729), and new ESPs, DCs, and COLs under 10 CFR Corporation.
• DC/COL ISG–08, ‘‘Final Interim part 52. Issuance of RG 1.206, Revision ACTION: Notice of request for extension
Staff Guidance Necessary Content of 1, does not constitute backfitting under of OMB approval.
Plant-Specific Technical Specifications 10 CFR part 50 and is not otherwise
When a Combined License is Issued’’ inconsistent with the issue finality SUMMARY: The Pension Benefit Guaranty
(ADAMS Accession No. ML083310259). provisions in 10 CFR part 52. As Corporation (PBGC) is requesting that
In September 2014, as part of its discussed in the ‘‘Implementation’’ the Office of Management and Budget
periodic review of related guidance in section of this RG, the NRC has no (OMB) extend approval, under the
RG 1.70, Revision 3 (ADAMS Accession current intention to impose the RG on Paperwork Reduction Act, of collections
No. ML14272A331), ‘‘Standard Format current holders of ESPs or COLs or a DC of information under PBGC’s regulation
and Content of Safety Analysis Reports applicant under 10 CFR part 52. on Reportable Events and Certain Other
for Nuclear Power Plants (LWR),’’ the RG 1.206, Revision 1, can be applied Notification Requirements with
staff recommended the withdrawal of to applications for 10 CFR part 52 ESPs, modifications. This notice informs the
RG 1.70 once information relevant to the COLs, and DCs. Such action does not public of PBGC’s request and solicits
licensing of nuclear power plants under constitute backfitting as defined in 10 public comment on the collection.
10 CFR part 50 is included in an update CFR 50.109 (the Backfit Rule) and is not DATES: Comments must be submitted by
to RG 1.206. RG 1.70 is used by the otherwise inconsistent with the November 13, 2018.
operating fleet. As such, the NRC staff applicable issue finality provision in 10 ADDRESSES: Comments should be sent to
will not withdraw RG 1.70 but if CFR part 52, inasmuch as such the Office of Information and Regulatory
information relevant to the licensing of applicants are not, with certain
khammond on DSK30JT082PROD with NOTICES

Affairs, Office of Management and
nuclear power plants under 10 CFR part exceptions, protected by either the Budget, Attention: Desk Officer for
50 is included in a future update to RG Backfit Rule or any issue finality Pension Benefit Guaranty Corporation,
1.70 or another guidance document, the provisions under 10 CFR part 52. This via electronic mail at OIRA_
staff may set a date beyond which RG is because neither the Backfit Rule nor submission@omb.eop.gov or by fax to
1.70 should no longer be referenced or the issue finality provisions under 10 (202) 395–6974.
used as guidance for licensing actions. CFR part 52, with certain exclusions A copy of the request will be posted
The additional scope related to 10 CFR discussed below, were intended to on PBGC’s website at https://

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51714 Federal Register / Vol. 83, No. 198 / Friday, October 12, 2018 / Notices

www.pbgc.gov/prac/laws-and- company financial statements, and the PBGC Form 200, Notice of Failure to
regulations/information-collections- plan’s actuarial valuation report. Make Required Contributions, and
under-omb-review. It may also be Currently there are five reportable related instructions implement the
obtained without charge by writing to events where some or all of that statutory notification requirement.
the Disclosure Division of the Office of information isn’t required. All three Submission of Form 200 is required by
the General Counsel, 1200 K Street NW, types of information would be added to 29 CFR 4043.81 (Subpart D of PBGC’s
Washington, DC 20005–4026, faxing a two of these events (‘‘Active Participant regulation on Reportable Events and
request to 202–326–4042, or calling Reduction’’ and ‘‘Distribution to a Other Notification Requirements, 29
202–326–4040 during normal business Substantial Owner’’). One type of CFR part 4043).
hours (TTY users may call the Federal information would be added to two OMB has approved this collection of
relay service toll-free at 1–800–877– events (‘‘Transfer of Benefit Liabilities’’ information under OMB control number
8339 and ask to be connected to 202– and ‘‘Change in Contributing Sponsor or 1212–0041, which expires November
326–4040). The Disclosure Division will Controlled Group’’), and two types to 30, 2018. PBGC is requesting that OMB
email, fax, or mail the information to one event (‘‘Extraordinary Dividend or extend its approval for another three
you, as you request. Stock Redemption’’). These reporting years, with minor modifications. An
FOR FURTHER INFORMATION CONTACT: requirements give PBGC notice of events agency may not conduct or sponsor, and
Stephanie Cibinic, Deputy Assistant that may indicate plan or employer a person is not required to respond to,
General Counsel for Regulatory Affairs financial problems. The additional a collection of information unless it
(cibinic.stephanie@pbgc.gov; 202–326– information is needed to help PBGC displays a currently valid OMB control
4400, extension 6352), Office of the determine a sponsor’s ability to number.
General Counsel, Pension Benefit continue to maintain a pension plan. PBGC estimates that it will receive
Guaranty Corporation, 1200 K Street PBGC estimates that requiring this 100 Form 200 filings per year and that
NW, Washington, DC 20005–4026. TTY information will add 30 minutes to the average annual burden of this
users may call the Federal relay service approximately 30 percent of the 568 collection of information is 100 hours
toll-free at 1–800–877–8339 and ask to reportable events notices it expects to and $72,500.
be connected to 202–326–4400, receive in a year under subpart B of the Issued in Washington, DC.
extension 6352. reportable events regulation using Form Stephanie Cibinic,
SUPPLEMENTARY INFORMATION: Section 10 (out of approximately 590 that Deputy Assistant General Counsel for
4043 of the Employee Retirement includes notices under subpart C using Regulatory Affairs, Pension Benefit Guaranty
Income Security Act of 1974 (ERISA) the Form 10-Advance). PBGC further Corporation.
requires plan administrators and plan estimates that the total average annual [FR Doc. 2018–22229 Filed 10–11–18; 8:45 am]
sponsors to report certain plan and burden of this collection of information BILLING CODE 7709–02–P
employer events to PBGC. The reporting is 1,855 hours and $439,500.
requirements give PBGC notice of events Section 303(k) of the Employee
that may indicate plan or employer Retirement Income Security Act of 1974 POSTAL REGULATORY COMMISSION
financial problems. PBGC uses the (ERISA) and section 430(k) of the
information provided in determining Internal Revenue Code of 1986 (Code) [Docket Nos. MC2019–2 and CP2019–2]
what, if any, action it needs to take. For impose a lien in favor of an
underfunded single-employer plan that New Postal Product
example, PBGC might need to institute
proceedings to terminate a plan (placing is covered by PBGC’s termination AGENCY: Postal Regulatory Commission.
it in trusteeship) under section 4042 of insurance program if (1) any person fails
ACTION: Notice.
ERISA to ensure the continued payment to make a required payment when due,
of benefits to plan participants and their and (2) the unpaid balance of that SUMMARY: The Commission is noticing a
beneficiaries or to prevent unreasonable payment (including interest), when recent Postal Service filing for the
increases in PBGC’s losses. added to the aggregate unpaid balance Commission’s consideration concerning
The provisions of section 4043 of of all preceding payments for which negotiated service agreements. This
ERISA have been implemented in payment was not made when due notice informs the public of the filing,
PBGC’s regulation on Reportable Events (including interest), exceeds $1 million. invites public comment, and takes other
and Certain Other Notification (For this purpose, a plan is underfunded administrative steps.
Requirements (29 CFR part 4043). if its funding target attainment DATES: Comments are due: October 16,
Subparts B and C of the regulation deal percentage is less than 100 percent.) The 2018.
with reportable events. lien is upon all property and rights to
ADDRESSES: Submit comments
PBGC has issued Forms 10 and 10- property belonging to the person or
persons that are liable for required electronically via the Commission’s
Advance and related instructions under
contributions (i.e., a contributing Filing Online system at http://
subparts B and C (approved under OMB
sponsor and each member of the www.prc.gov. Those who cannot submit
control number 1212–0013). OMB
controlled group of which that comments electronically should contact
approval of this collection of
contributing sponsor is a member). the person identified in the FOR FURTHER
information expires November 30, 2018.
INFORMATION CONTACT section by
PBGC is requesting that OMB extend its Only PBGC (or, at its direction, the
telephone for advice on filing
approval for another three years, with plan’s contributing sponsor or a member
alternatives.
modifications. An agency may not of the same controlled group) may
khammond on DSK30JT082PROD with NOTICES

conduct or sponsor, and a person is not perfect and enforce this lien. ERISA and FOR FURTHER INFORMATION CONTACT:
required to respond to, a collection of the Code require persons that fail to David A. Trissell, General Counsel, at
information unless it displays a make payments to notify PBGC within 202–789–6820.
currently valid OMB control number. 10 days of the due date whenever there SUPPLEMENTARY INFORMATION:
PBGC is proposing in this renewal is a failure to make a required payment
request that all reportable events filings and the total of the unpaid balances Table of Contents
include controlled group information, (including interest) exceeds $1 million. I. Introduction

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Document Created: 2018-10-13 10:09:18
Document Modified: 2018-10-13 10:09:18

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.
Dates		Comments must be submitted by November 13, 2018.
Contact		Stephanie Cibinic, Deputy Assistant General Counsel for Regulatory Affairs ([email protected]; 202-326-4400, extension 6352), Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005- 4026. TTY users may call the Federal relay service toll-free at 1-800- 877-8339 and ask to be connected to 202-326-4400, extension 6352.
FR Citation		83 FR 51713