[Federal Register Volume 75, Number 121 (Thursday, June 24, 2010)]
[Notices]
[Pages 36127-36128]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-15339]
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PENSION BENEFIT GUARANTY CORPORATION
Proposed Submission of Information Collection for OMB Review;
Comment Request; Annual Reporting and Disclosure
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Notice of intention to request extension of OMB approval of
revised collection of information.
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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 its collection of information for
annual reporting and disclosure under 29 CFR Part 2520 (OMB control
number 1212-0057, expires September 30, 2010), without change. This
notice informs the public of PBGC's intent and solicits public comment
on the collection of information.
DATES: Comments must be submitted by August 23, 2010.
ADDRESSES: Comments may be submitted by any of the following methods:
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the Web site instructions for submitting comments.
E-mail: [email protected].
Fax: 202-326-4224.
Mail or Hand Delivery: Legislative and Regulatory
Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW.,
Washington, DC 20005-4026.
Comments received, including personal information provided, will be
posted to http://www.pbgc.gov.
Copies of the collection of information and comments may be
obtained without charge by writing to the Disclosure Division, Office
of General Counsel, at the above address or by visiting the Disclosure
Division or calling 202-326-4040 during normal business hours. (TTY/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: Grace Kraemer, Attorney, Legislative
and Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K
Street, NW., Washington, DC 20005-4026; 202-326-4024. (TTY/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 Employee Retirement Income Security
[[Page 36128]]
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 benefit pension and welfare plans (collectively referred to
as employee benefit plans) to file returns or reports annually with the
federal government.
Since enactment of ERISA, PBGC, the Department of Labor (DOL), and
the Internal Revenue Service (IRS) (collectively, the Agencies), have
worked together (under DOL's leadership) to produce the Form 5500
Annual Return/Report, through which the regulated public can satisfy
the combined reporting/filing requirements applicable to employee
benefit plans.
The Form 5500 Series is the primary source of information
concerning the operation, funding, assets and investments of pension
and other employee benefit plans. In addition to being an important
disclosure document for plan participants and beneficiaries, the Form
5500 is a compliance and research tool for the Agencies, and a source
of information for use by other federal agencies, Congress, and the
private sector in assessing employee benefit, tax, and economic trends
and policies.
On November 16, 2007, the Agencies adopted revisions to the Form
5500 Annual Return/Report in order to update and streamline the annual
reporting process in conjunction with establishing a wholly electronic
processing system for the receipt of the Form 5500 Annual Return/
Reports and to conform the forms and instructions to the provisions of
the Pension Protection Act of 2006 (PPA).
OMB has approved PBGC's annual reporting and disclosure collection
of information (2008-2010 Forms and Instructions) under control number
1212-0057 (expires September 30, 2010). PBGC intends to request that
OMB extend approval of this collection of information for three years,
without change. 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 30,300 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 is 1,200 hours and $1,250,000.
PBGC is soliciting public comments to--
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodologies and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
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.
Issued in Washington, DC, this 21st day of June 2010.
John H. Hanley,
Director, Legislative and Regulatory Department, Pension Benefit
Guaranty Corporation.
[FR Doc. 2010-15339 Filed 6-23-10; 8:45 am]
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