In accordance with 5 CFR 1320, the information collection is not approved at this time. Prior to publication of the final rule, the agency should provide to OMB a summary of all comments received on the proposed information collection and identify any changes made in response to these comments.
Inventory as of this Action
Requested
Previously Approved
05/31/2022
36 Months From Approved
05/31/2022
560
0
560
532
0
532
12,871,040
0
12,871,040
ERISA section 4010 requires the annual reporting of actuarial and financial information by controlled groups that sponsor pension plans that have significant underfunding. PBGC uses this information to detect and monitor financial problems with the controlled groups and to respond quickly when it learns that a controlled group intends to engage in a transaction that may reduce the assets available to pay plan liabilities.
PBGCâs instructions to the 4010 module for the e-filing portal and the module itself would be updated, as necessary or helpful, to reflect the clarifications that would be made by the proposed rule. The clarifications incorporated would replace or augment existing language but would not create additional filing burden. However, PBGC estimates the proposed rule would reduce filer burden by eliminating the requirement of § 4010.9(b)(2) to provide the revenues, operating income, and net assets for each controlled group member if a filer is submitting consolidated financial information.
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.
Form Appendix 1 Annual Financial and Actuarial Information Reporting (29 CFR Part 4010)
4010supportingstatementProposedRule.d1.docx
Annual Financial and Actuarial Information Reporting (29 CFR Part 4010)