Mergers and Transfer Between Multiemployer Plans (29 CFR Part 4231)
Revision of a currently approved collection
No
Regular
07/25/2024
Requested
Previously Approved
36 Months From Approved
10/31/2024
16
15
25
24
110,400
120,400
29 USC Sec. 1411 and 29 CFR part 4231 prescribe requirements for multiemployer pension plan mergers and transfers, including notification of PBGC by plan sponsors. Sponsors may also request PBGC determinations that the requirements were met. PBGC uses information submitted to determine whether the requirements were met.
The hour burden of this collection of information on the public has increased from 24 hours to 25 hours, and the cost burden has decreased from $120,400 to $110,400. The increase in the hour burden is caused by a slight increase in the number of expected transactions. The decrease in the cost burden is attributed to fewer complex mergers, transfers, and significantly affected plans, which require more resources than standard mergers.
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.
1212-0022 Supporting Statement 2024.03.docx
Mergers and Transfer Between Multiemployer Plans (29 CFR Part 4231)