PBGC, through the American Council of Life Insurers, surveys insurance companies to find the prices they currently charge for group annuities. PBGC uses this information, with other market-rate data, to set interest rates for valuing benefits under terminating single-employer pension plans, and under multiemployer pension plans from which there has been a mass withdrawal of contributing employers. The information is needed to ensure that PBGC's rates reflect current market conditions.
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:
(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;
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.