[Federal Register Volume 67, Number 218 (Tuesday, November 12, 2002)]
[Notices]
[Page 68702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-28650]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Reportable Events

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intention to request extension of OMB approval.

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SUMMARY: The Pension Benefit Guaranty Corporation (``PBGC'') intends to 
request that the Office of Management and Budget (``OMB'') extend 
approval, under the Paperwork Reduction Act, of the collection of 
information under part 4043 of its regulations relating to Reportable 
Events (OMB control number 1212-0013; expires February 28, 2003). This 
notice informs the public of the PBGC's intent and solicits public 
comment on the collection of information.

DATES: Comments should be submitted by January 13, 2003.

ADDRESSES: Comments may be mailed to the Office of the General Counsel, 
Suite 340, Pension Benefit Guaranty Corporation, 1200 K Street, NW., 
Washington, DC 20005-4026, or delivered to that address during normal 
business hours.
    Copies of the collection of information may be obtained without 
charge by writing to the PBGC's Communications and Public Affairs 
Department at the above address or by visiting that office 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 reportable events regulations, forms, 
and instructions may be accessed on the PBGC's Web site at 
www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT: James L. Beller, Attorney, Office of 
the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street, NW., Washington, DC 20005-4026, 202-326-4024. (For TTY and TDD 
users, call the Federal relay service toll-free at 1-800-877-8339 and 
ask to be connected to 202-326-4024.)

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 corporate events to the PBGC. 
The reporting requirements give the PBGC timely notice of events that 
indicate plan or employer financial problems. The PBGC uses the 
information provided in determining what, if any, action it needs to 
take. For example, the PBGC might need to institute proceedings to 
terminate the 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 its 
losses.
    The collection of information under the regulation has been 
approved through February 28, 2003, by OMB under control number 1212-
0013. The PBGC intends to request that OMB extend 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.
    The PBGC estimates that it will receive 537 reportable events per 
year under this collection of information. The PBGC further estimates 
that the average annual burden of this collection of information is 
2,260 hours and $452,000.
    The PBGC is soliciting public comments to--
    [sbull] Evaluate whether the collection of information is necessary 
for the proper performance of the functions of the agency, including 
whether the information will have practical utility;
    [sbull] Evaluate the accuracy of the agency's estimate of the 
burden of the collection of information, including the validity of the 
methodology and assumptions used;
    [sbull] Enhance the quality, utility, and clarity of the 
information to be collected; and
    [sbull] Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology, e.g., permitting 
electronic submission of responses.

    Issued in Washington, DC, this 5th day of November, 2002.
Stuart Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit 
Guaranty Corporation.
[FR Doc. 02-28650 Filed 11-8-02; 8:45 am]
BILLING CODE 7708-01-P