[Federal Register Volume 68, Number 17 (Monday, January 27, 2003)]
[Notices]
[Pages 3902-3903]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-1765]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
Submission of Information Collection for OMB Review; Comment
Request; Locating and Paying Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of request for extension of OMB approval (with
modifications).
-----------------------------------------------------------------------
SUMMARY: The Pension Benefit Guaranty Corporation is requesting that
the Office of Management and Budget extend its approval (with
modifications) of a collection of information under the Paperwork
Reduction Act. The purpose of the information collection is to enable
the PBGC to pay benefits to participants and beneficiaries in plans
covered by the PBGC insurance program. This notice informs the public
of the PBGC's request and solicits public comment on the collection of
information.
DATES: Comments should be submitted by February 26, 2003.
ADDRESSES: Comments should be mailed to the Office of Information and
Regulatory Affairs of the Office of Management and Budget, Attention:
Desk Officer for Pension Benefit Guaranty Corporation, Washington, DC
20503.
Copies of the request for extension (including the collection of
information) may be obtained without charge by writing to the PBGC's
Communications and Public Affairs Department, suite 240, 1200 K Street,
NW., Washington, DC 20005-4026, 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.)
FOR FURTHER INFORMATION CONTACT: Catherine B. Klion, Attorney, Office
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K
Street, NW., Washington, DC 20005-4026, 202-326-4024. (TTY and TDD
users may call the Federal relay service toll-free at 1-800-877-8339
and ask to be connected to 202-326-4024).
SUPPLEMENTARY INFORMATION: The PBGC is requesting that OMB extend its
approval (with modifications) of a collection of information needed to
pay participants and beneficiaries who may be entitled to pension
benefits under a defined benefit plan that has terminated. The
collection consists of information participants and beneficiaries are
asked to provide in connection with an application for benefits. In
addition, in some instances, as part of a search for participants and
beneficiaries who may be entitled to benefits, the PBGC requests
individuals to provide identifying information that the individual
would provide as part of an initial contact with the PBGC. The
collection also includes pages on the PBGC's web site, www.pbgc.gov,
that, for certain large plans, provide respondents with specific
information about their pension plan and enable them to obtain a rough
estimate of their benefit, either by using an online benefit estimate
calculator or by completing an online form and submitting it to the
PBGC to compute an estimate. All requested information is needed to
enable the PBGC to determine benefit entitlements and to make
appropriate payments or to provide respondents with specific
information about their pension plan and enable them to obtain a rough
estimate of their benefit.
The existing collection of information was approved under control
number 1212-0055 (expires February 28, 2003).
The PBGC estimates that 134,950 benefit application or information
forms will be filed annually by individuals entitled to benefits from
the PBGC and that the associated burden is 76,200 hours (an average of
about one-half hour per response) and $49,931.50 (an average of $.37
per response). The PBGC further estimates that 5,500 individuals
annually will provide the PBGC with identifying information as part of
an initial contact and that the associated burden is 1,500 hours (an
average of about one-quarter hour per response) and $1,100 (an average
of $.20 per
[[Page 3903]]
response). Thus, the total estimated annual burden associated with this
collection of information is 77,700 hours and $51,041.50.
Issued in Washington, DC, this 22nd day of January, 2003.
Stuart A. Sirkin,
Director, Corporate Policy and Research Department, Pension Benefit
Guaranty Corporation.
[FR Doc. 03-1765 Filed 1-24-03; 8:45 am]
BILLING CODE 7708-01-P