Federal Register / Vol. 76, No. 65 / Tuesday, April 5, 2011 / Rules and Regulations 18649 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

29 CFR Part 2520 

Technical Revisions to Actuarial 

Information on Form 5500 Annual 

Return/Report for Pension Plans 

Electing Funding Alternatives Under 

Pension Relief Act of 2010 

AGENCY: Employee Benefits Security 

Administration, Labor. 

ACTION: Annual Reporting and 

Disclosure for Form 5500. 

SUMMARY: This document announces 

that certain technical revisions to the 

Schedule MB (Multiemployer Defined 

Benefit Plan and Certain Money 

Purchase Plan Actuarial Information) 

and the Schedule SB (Single-Employer 

Defined Benefit Plan Actuarial 

Information) of the Form 5500 Annual 

Return/Report of Employee Benefit Plan 

have been adopted in IRS Notice 2010– 

83 (2010–51 I.R.B. 862) and IRS Notice 

2011–3 (2011–2 I.R.B. 263) to reflect 

funding relief alternatives retroactively 

available to defined benefit pension 

plans under the Preservation of Access 

to Care for Medicare Beneficiaries and 

Pension Relief Act of 2010 (Pension 

Relief Act). The information that would 

be required either by way of amendment 

of the 2008 or 2009 Annual Return/ 

Report or providing an attachment to 

the 2009 or 2010 Annual Return/Report 

in accordance with the IRS Notices, will 

also be added to the 2011 and later 

Schedule MB (Multiemployer Defined 

Benefit Plan and Certain Money 

Purchase Plan Actuarial Information) 

and the Schedule SB (Single-Employer 

Defined Benefit Plan Actuarial 

Information) of the Form 5500 Annual 

Return/Report of Employee Benefit 

Plan. Compliance with the Schedule SB 

and Schedule MB, as modified, will 

satisfy the pertinent Form 5500 actuarial 

information reporting requirements for 

the Department of Labor. 

DATES: Effective Date: April 5, 2011. 

FOR FURTHER INFORMATION CONTACT: 

Steven Klubock, Internal Revenue 

Service (IRS), at the Employee Plans 

taxpayer assistance answering service at 

1–877–829–5500 (a toll-free number), 

for questions relating to the Schedules 

MB and SB requirements under IRS 

Notices 2010–83 and 2011–3; Grace 

Kraemer, Pension Benefit Guaranty 

Corporation (PBGC), (202) 326–4024, for 

questions relating to annual reporting 

requirements under Title IV of ERISA in 

the technical revisions of the Schedules 

MB and SB; and Elizabeth A. Goodman, 

Employee Benefits Security 

Administration, U.S. Department of 

Labor, (202) 693–8523, for questions 

relating to this document. Except for the 

IRS, the telephone numbers referenced 

above are not toll-free numbers. 

SUPPLEMENTARY INFORMATION: 

I. Background 

A. Annual Reporting 

Sections 101, 104, and 4065 of ERISA, 

29 U.S.C. 1021, 1024 and 1365, sections 

6058(a) and 6059(a) of the Code, 26 

U.S.C. 6058(a) and 6059(a), and the 

regulations issued under those sections, 

impose annual reporting and filing 

obligations on pension and welfare 

benefit plans, as well as on certain other 

entities. Plan administrators, employers, 

and others generally satisfy these annual 

reporting obligations by the filing of the 

Form 5500 Annual Return/Report of 

Employee Benefit Plan, including its 

schedules and attachments (Form 5500 

Annual Return/Report), in accordance 

with the instructions and related 

regulations. 

The Form 5500 Annual Return/Report 

is the principal source of information 

and data available to the Department of 

Labor (Department or Labor), the 

Internal Revenue Service (IRS), and the 

Pension Benefit Guaranty Corporation 

(PBGC) (collectively, Agencies) 

concerning the operations, funding, and 

investments of pension and welfare 

benefit plans. Actuarial information on 

defined benefit pension plans is 

required to be reported as part of the 

Form 5500 Annual Return/Report on the 

Schedule MB or the Schedule SB. The 

Form 5500 Annual Return/Report 

constitutes an integral part of each 

Agency’s enforcement, research, and 

policy formulation programs, and is a 

source of information and data for use 

by other federal agencies, Congress, and 

the private sector in assessing employee 

benefit, tax, and economic trends and 

policies. The Form 5500 Annual Return/ 

Report also serves as a primary means 

by which plan operations can be 

monitored by participants and 

beneficiaries and by the general public. 

B. Pension Relief Act and Changes to 

Actuarial Schedules 

The Pension Relief Act, Public Law 

111–192, 124 Stat 1280 (2010), enacted 

on June 25, 2010, provided retroactive 

pension funding relief for singleemployer and multiemployer defined 

benefit pension plans that are subject to 

the reporting requirements of Title I of 

ERISA. The IRS issued guidance in the 

form of questions and answers on the 

application of the special funding rules 

under the Pension Relief Act and the 

required notice of a decision by the plan 

sponsor to apply the special funding 

rules. IRS Notice 2010–83 provides 

guidance for sponsors of multiemployer 

defined benefit plans with respect to the 

special funding rules under Code 

§ 431(b)(8), as added by section 

211(a)(2) of the Pension Relief Act. IRS 

Notice 2011–3 provides guidance on the 

special rules relating to funding relief 

for single-employer defined benefit 

pension plans (including multiple 

employer defined benefit pension plans) 

under Code § 430(c)(2)(D) and 

§ 430(c)(7), as added by section 201 of 

the Pension Relief Act, and Code 

§ 430(f)(3)(D), as added by section 204 of 

the Act. 

Certain technical revisions to the 

Form 5500 Schedule MB and SB were 

necessary to conform the actuarial 

reporting requirements for defined 

benefit pension plans to the application 

of funding relief under the Pension 

Relief Act. The Internal Revenue Service 

announced and described those 

technical revisions in IRS Notice 2010– 

83 and Notice 2011–3. Specifically, the 

notices provide that a Schedule MB or 

Schedule SB that was filed without 

reflecting application of the special 

funding rules or was filed reflecting 

application of the special funding rules, 

but using calculations that were 

different from those required by IRS 

Notice 2010–83 or Notice 2011–3, need 

not be amended. Instead, the Schedule 

MB or Schedule SB filed for a 

subsequent plan year that is no later 

than the plan year beginning in 2010 

that must include an attachment 

showing how the information regarding 

the special funding rules on any earlier 

year Schedule MB or SB that did not 

comply with the notices, would have 

differed if it had complied. In addition, 

the IRS Notices describe the application 

of funding relief under the Pension 

Relief Act to the 2011 plan year and 

future plan years. These rules require 

changes to Schedule MB and Schedule 

SB for the 2011 plan year. 

II. Good Cause for Exemption From 

Public Notice and Comment and 

Immediate Effective Date 

To issue a final rule without public 

notice and comment, an agency must 

find good cause that notice and 

comment are impracticable, 

unnecessary, or contrary to the public 

interest. 5 U.S.C. 553(b). To issue a rule 

that is immediately effective, an agency 

similarly must find good cause for 

dispensing with the 30-day delay 

required by the Administrative 

Procedure Act (APA). 

The retroactive availability of the 

funding relief under the Pension Relief 

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18650 Federal Register / Vol. 76, No. 65 / Tuesday, April 5, 2011 / Rules and Regulations 

Act for sponsors of defined benefit 

pension plans created an immediate 

need for changes to the Schedule MB 

and Schedule SB reporting 

requirements. Without these changes, 

accurate and complete Schedules MB 

and SB cannot be filed with respect to 

plans to which the funding relief 

applies. The information that would not 

otherwise be provided under the current 

schedules is essential for the Agencies 

to monitor and enforce compliance with 

the special funding rules under the 

Pension Relief Act. The IRS Notices 

2010–83 and 2011–3, including the 

guidance superseding portions of the 

instructions to Schedule MB and 

Schedule SB for the 2008, 2009, and 

2010 plan years, have already been 

approved under the Paperwork 

Reduction Act and released to the 

public. In addition, a relatively small 

number of Form 5500 filers, comprised 

of only those filers for defined benefit 

pension plans to which the optional 

relief offered under the Pension Relief 

Act applies, are affected by these 

Schedule MB and Schedule SB changes. 

Accordingly, the Department finds for 

good cause that it would be 

impracticable and contrary to the public 

interest to delay putting the technical 

revisions to Schedule MB and SB into 

place until completion of a full notice 

and public comment process. For the 

same reasons, the Department also finds 

good cause to adopt an effective date 

that would be less than 30 days after the 

publication in the Federal Register 

pursuant to the APA. 5 U.S.C. 553(d). 

Accordingly, the adoption of the 

technical changes affecting the actuarial 

schedules for the 2008, 2009, and 2010 

Form 5500 Annual Return/Report will 

be effective as of the date of publication 

in the Federal Register. Related 

information also will be required to be 

provided on the 2011 and later Form 

5500 Annual Return/Report with 

respect to those plans to which the 

alternative funding methods under the 

Pension Relief Act apply, as described 

in the Act, but for 2011 and later the 

information will be included in the 

schedules and instructions, rather than 

filers having to create attachments as 

described in IRS Notice 2010–83 and 

Notice 2011–3. The 2011 and later Form 

5500 Annual Return/Report, Schedule 

SB, will also require a plan to disclose 

its status as an eligible charity plan in 

connection with a special effective date 

provided under the Pension Relief Act. 

III. Executive Order 12866 

The Office of Management and Budget 

(OMB) has determined that this 

document does not constitute a 

‘‘significant regulatory action’’ for 

purposes of Executive Order 12866. 

Therefore, this action has not been 

reviewed by OMB pursuant to the 

Executive Order. 

IV. Paperwork Reduction Act 

In accordance with the requirements 

of the Paperwork Reduction Act of 1995 

(PRA) (44 U.S.C. 3501 et seq.), the Form 

5500 information collection request 

(ICR) has been approved by OMB under 

control number 1210–0110, which 

currently is scheduled to expire on 

March 31, 2014. This notice does not 

implement a substantive or material 

change to the ICR; therefore, the 

Department has not requested OMB 

review at this time. 

Signed at Washington, DC, this 24th day of 

March 2011. 

Phyllis C. Borzi, 

Assistant Secretary, Employee Benefits 

Security Administration, U.S. Department of 

Labor. 

[FR Doc. 2011–7557 Filed 4–4–11; 8:45 am] 

BILLING CODE P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R04–OAR–2010–0798–201048; FRL– 

9288–8] 

Approval and Promulgation of 

Implementation Plans and 

Designations of Areas for Air Quality 

Planning Purposes; Georgia: Rome; 

Determination of Attaining Data for the 

1997 Annual Fine Particulate Standard 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: EPA has determined that the 

Rome, Georgia, fine particulate (PM2.5) 

nonattainment area (hereafter referred to 

as ‘‘the Rome Area’’ or ‘‘Area’’) has 

attained the 1997 annual average PM2.5

National Ambient Air Quality Standard 

(NAAQS). The Rome Area is comprised 

of Floyd County in its entirety. This 

determination of attainment is based 

upon complete, quality-assured and 

certified ambient air monitoring data for 

the 2007–2009 period showing that the 

Area has monitored attainment of the 

1997 annual PM2.5 NAAQS. The 

requirements for the Area to submit an 

attainment demonstration and 

associated reasonably available control 

measures (RACM), a reasonable further 

progress (RFP) plan, contingency 

measures, and other planning State 

Implementation Plan (SIP) revisions 

related to attainment of the standard 

shall be suspended so long as the Area 

continues to attain the 1997 annual 

PM2.5 NAAQS. 

DATES: Effective Date: This final rule is 

effective on May 5, 2011. 

ADDRESSES: EPA has established a 

docket for this action under Docket ID 

Number EPA–R04–OAR–2010–0798. All 

documents in the docket are listed in 

the http://www.regulations.gov Web 

site. Although listed in the electronic 

docket, some information is not publicly 

available, i.e., confidential business 

information (CBI) or other information 

whose disclosure is restricted by statute. 

Certain other material, such as 

copyrighted material, is not placed on 

the Internet and will be publicly 

available only in hard copy form. 

Publicly available docket materials are 

available either electronically through 

http://www.regulations.gov or in hard 

copy for public inspection during 

normal business hours at the Regulatory 

Development Section, Air Planning 

Branch, Air, Pesticides and Toxics 

Management Division, U.S. 

Environmental Protection Agency, 

Region 4, 61 Forsyth Street, SW., 

Atlanta, Georgia 30303–8960. 

FOR FURTHER INFORMATION CONTACT: Joel 

Huey or Sara Waterson, Regulatory 

Development Section, Air Planning 

Branch, Air, Pesticides and Toxics 

Management Division, U.S. 

Environmental Protection Agency, 

Region 4, 61 Forsyth Street, SW., 

Atlanta, Georgia 30303–8960. Mr. Huey 

may be reached by phone at (404) 562– 

9104 or via electronic mail at 

huey.joel@epa.gov. Ms. Waterson may 

be reached by phone at (404) 562–9061 

or via electronic mail at 

waterson.sara@epa.gov. 

SUPPLEMENTARY INFORMATION: 

I. What action is EPA taking? 

II. What is the effect of this action? 

III. What is EPA’s final action? 

IV. Statutory and Executive Order Reviews 

I. What action is EPA taking? 

EPA is determining that the Rome 

Area (comprised of Floyd County in its 

entirety) has attaining data for the 1997 

annual PM2.5 NAAQS. This 

determination is based upon quality 

assured, quality controlled and certified 

ambient air monitoring data that shows 

the Area has monitored attainment of 

the 1997 annual PM2.5 NAAQS based on 

the 2007–2009 data. 

Other specific requirements of the 

determination and the rationale for 

EPA’s action are explained in the notice 

of proposed rulemaking (NPR) 

published on December 13, 2010 (75 FR 

77595). The first and second quarters of 

2008 were incomplete with around 73 

percent completeness each. Data 

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