Disclosure to Participants

OMB Control No: 1212-0050	ICR Reference No: 200611-1212-005
Status: Historical Active	Previous ICR Reference No: 200410-1212-001
Agency/Subagency: PBGC	Agency Tracking No:
Title: Disclosure to Participants
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 01/10/2007
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/30/2006
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2010	36 Months From Approved	01/31/2007
Responses	764	0	3,917
Time Burden (Hours)	1,057	0	8,428
Cost Burden (Dollars)	290,675	0	579,000

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Abstract: Under PBGC regulations implementing section 4011 of ERISA, plan administrators of certain underfunded single-employer pension plans must provide notice to participants and beneficiaries of the plan's funding status and the limits on the PBGC's guarantee. The notice provides recipients with meaningful, understandable, and timely information.

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Authorizing Statute(s): US Code: 29 USC 1311 Name of Law: ERISA

Citations for New Statutory Requirements: PL: Pub.L. 109 - 280 501(b)(1) Name of Law: Pension Protection Act of 2006

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 30968	05/31/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 67932	11/24/2006
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title Form No. Form Name Disclosure to Participants

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	764	3,917	-3,153	0	0	0
Annual Time Burden (Hours)	1,057	8,428	-6,737	0	-634	0
Annual Cost Burden (Dollars)	290,675	579,000	-462,730	0	174,405	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Pension Protection Act of 2006 (PPA) repealed ERISA section 4011, for plan years beginning after December 31, 2006. Although plan administrators of non-calendar year plans in most cases will be required to provide a Participant Notice for the 2006 plan year in calendar year 2007, and a small number of plan administrators will issue late or corrected Participant Notices for 2006 or earlier plan years in calendar year 2007 and later, the repeal of ERISA section 4011 will result in a sharp decline in the number of Participant Notices provided by plan administrators for the 2007-2009 period. In addition to this program change, PBGC also changed its assumption as to what portion of the Participant Notice burden will be handled by plan administrators themselves and how much will be contracted to third parties. Previously, PBGC assumed plan administrators would handle 80% of the burden themselves, and contract the remainder to third parties. Based on information received by PBGC, PBGC now assumes that only 50% of the burden will be handled by plan administrators themselves, with the rest contracted to third parties.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Jo Amato Burns 202-326-4223 ext. 3072 [email protected]

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(i) Why the information is being collected;
			(ii) Use of information;
			(iii) Burden estimate;
			(iv) Nature of response (voluntary, required for a benefit, or mandatory);
			(v) Nature and extent of confidentiality; and
			(vi) Need to display currently valid OMB control number;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date: 11/30/2006

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