Termination of Multiemployer Plans (29 CFR Part 4041A)

OMB Control No: 1212-0020	ICR Reference No: 202205-1212-002
Status: Received in OIRA	Previous ICR Reference No: 201905-1212-002
Agency/Subagency: PBGC	Agency Tracking No:
Title: Termination of Multiemployer Plans (29 CFR Part 4041A)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 05/17/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	06/30/2022
Responses	817	2,300
Time Burden (Hours)	61	229
Cost Burden (Dollars)	39,400	114,000

---

Abstract: Plan sponsors of terminating multiemployer pension plans give notices to PBGC about plan terminations and to plan participants about electing benefit options, and apply to PBGC for permission to pay lump sums greater than $1,750 or to pay nonvested plan benefits. PBGC uses information submitted to it to assess the likelihood of benefit reductions or suspensions and risks to PBGC and participants and to estimate the need for financial assistance to plans. Participants use information sent to them to make personal financial decisions. Plans terminated by mass withdrawal, plans terminated by plan amendment that are expected to become insolvent, and insolvent plans receiving financial assistance from PBGC are required to file actuarial valuations and withdrawal liability information with PBGC.

---

Authorizing Statute(s): US Code: 29 USC 1341a Name of Law: ERISA

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 13020	03/08/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 29899	05/17/2022
Did the Agency receive public comments on this ICR? No

---

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

IC Title Form No. Form Name Termination of Multiemployer Plans (29 CFR Part 4041A) 002, 003, 001 Notice of Termination ,   Actuarial Valuation ,   Withdrawal Liability

---

ICR Summary of Burden

	Total Request	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	817	2,300	0	0	-1,483	0
Annual Time Burden (Hours)	61	229	0	0	-168	0
Annual Cost Burden (Dollars)	39,400	114,000	0	0	-74,600	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 decrease in the estimated annual burden of this collection of information results from the establishment of the special financial assistance program which results in PBGC receiving fewer termination notices plans. In addition, there is a decrease in the number of plans filing withdrawal liability information from an estimated 140 plans to 10 plans. The majority of plans filed withdrawal liability information once stating that the plan does not receive withdrawal liability payments. PBGC estimates that the annual hour burden will decrease from 229 hours to 61 hours and the annual cost burden will decrease from $114,000 to $39,400.

---

Annual Cost to Federal Government: $3,000

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: Karen Levin 202 326-4400 ext. 3559 [email protected]

---

Common Form ICR:  No

---

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: 05/17/2022

---