44294 Federal Register / Vol. 62, No. 161 / Wednesday, August 20, 1997 / Notices

PENSION BENEFIT GUARANTY

CORPORATION

Agency Information Collection

Activities: Notice of Intention To

Request Extension of OMB Approval of

Collection; Comment Request—

Termination of Single Employer Plans;

Missing Participants; PBGC Forms

500–501, 600–602

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Notice of intention to request

extension of OMB approval.

SUMMARY: The Pension Benefit Guaranty

Corporation intends to request that the

Office of Management and Budget

(‘‘OMB’’) extend approval, under the

Paperwork Reduction Act of 1995, of a

collection of information in its

regulations on Termination of Single

Employer Plans and Missing

Participants, and implementing forms

and instructions (OMB control number

1212–0036; expires December 31, 1997).

This notice informs the public of the

PBGC’s intent and solicits public

comment on the collection of

information.

DATES: Comments should be submitted

by October 20, 1997.

ADDRESSES: Comments may be mailed to

the Office of the General Counsel, suite

340, Pension Benefit Guaranty

Corporation, 1200 K Street, NW.,

Washington, DC 20005–4026, or

delivered to that address between 9 a.m.

and 4 p.m. on business days. Written

comments will be available for public

inspection at the PBGC’s

Communications and Public Affairs

Department, suite 240 at the same

address, between 9 a.m. and 4 p.m. on

business days. Copies of the forms and

instructions may be obtained free of

charge by writing or visiting the PBGC’s

Communications and Public Affairs

Department at the above address.

FOR FURTHER INFORMATION CONTACT:

Catherine B. Klion, Attorney, Office of

the General Counsel, Pension Benefit

Guaranty Corporation, 1200 K Street,

NW., Washington, DC 20005–4026, 202–

326–4024 (202–326–4179 for TTY and

TDD).

SUPPLEMENTARY INFORMATION: Under

section 4041 of the Employee

Retirement Income Security Act of 1974,

as amended, a single-employer pension

plan may terminate voluntarily only if

it satisfies the requirements for either a

standard or a distress termination.

Pursuant to ERISA section 4041(b), for

standard terminations, and section

4041(c), for distress terminations, and

the PBGC’s termination regulation (29

CFR part 4041), a plan administrator

wishing to terminate a plan is required

to submit specified information to the

PBGC in support of the proposed

termination and to provide specified

information regarding the proposed

termination to third parties

(participants, beneficiaries, alternate

payees, and employee organizations). In

the case of a plan with participants or

beneficiaries who cannot be located

when their benefits are to be distributed,

the plan administrator is subject to the

requirements of ERISA section 4050 and

the PBGC’s missing participants

regulation (29 CFR part 4050).

On March 14, 1997 (62 FR 12508), the

PBGC published a proposed rule to

extend standard termination deadlines

and otherwise to simplify the standard

termination process, to require that plan

administrators provide participants with

information on state guaranty

association coverage of annuities, and to

make conforming changes to the distress

termination process. The amendments

also make conforming and simplifying

changes to the missing participants

regulation. In addition, the PBGC made

clarifying and other changes (related to

the proposed rule) to its implementing

forms and instructions under the

termination and missing participants

regulations. OMB approved the

collection of information in the

proposed rule.

The PBGC expects to publish a final

rule amending its termination and

missing participants regulations later in

1997. Terminations initiated before the

effective date of the final rule generally

will be subject to the existing

requirements. (The PBGC may specify in

the final rule certain portions of the

final rule that plan administrators may

apply to terminations in process at the

time the final rule becomes effective.)

Thus, even after the effective date of the

final rule, there will be a period of time

during which the existing collection of

information requirements will apply for

some terminations.

Much of the work associated with

terminating a plan is performed for

purposes other than meeting the

collection of information requirements

in the PBGC’s termination and missing

participants regulations. The PBGC

estimates that 3,940 plan administrators

will be subject to the existing

requirements each year, and that the

total annual burden of complying with

these requirements is 5530 hours and

$3,477,940. (The burden estimates

under the March 14, 1997, proposed

rule were detailed at 62 FR at 12509.)

Comments on these collection of

information requirements may address

(among other things)—

• Whether the collection of

information is needed for the proper

performance of the PBGC’s functions

and will have practical utility;

• The accuracy of the PBGC’s

estimate of the burden of the collection

of information, including the validity of

the methodology and assumptions used;

• Enhancement of the quality, utility,

and clarity of the information to be

collected; and

• Minimizing the burden of the

collection of information on those who

are to respond, including through the

use of appropriate automated,

electronic, mechanical, or other

technological collection techniques or

other forms of information technology,

e.g., permitting electronic submission of

responses.

The PBGC already allows electronic

submission of participant and

beneficiary data in a distress

termination and has been actively

considering whether to allow other

information to be provided

electronically. In certain circumstances,

the proposed rule allows electronic

filing with the PBGC and electronic

issuance of notices to third parties. In

the proposed rule (62 FR at 12509), the

PBGC invited comments on electronic

filing and issuance requirements and on

whether, given the PBGC’s limited role

in standard terminations, the burden of

the standard termination filing process

could be further reduced. The PBGC

welcomes comments on these matters in

response to this notice as well.

Issued in Washington, DC, this 14th day of

August, 1997.

David M. Strauss,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 97–22040 Filed 8–19–97; 8:45 am]

BILLING CODE 7708–01–P

OFFICE OF PERSONNEL

MANAGEMENT

Federal Prevailing Rate Advisory

Committee Open Committee Meeting

According to the provisions of section

10 of the Federal Advisory Committee

Act (Pub. L. 92–463), notice is hereby

given that a meeting of the Federal

Prevailing Rate Advisory Committee

will be held on Thursday, August 28,

1997.

The meeting will start at 10:00 a.m.

and will be held in Room 5A06A, Office

of Personnel Management Building,

1900 E Street, NW., Washington, DC.

The Federal Prevailing Rate Advisory

Committee is composed of a Chair, five

representatives from labor unions

holding exclusive bargaining rights for
Federal Register / Vol. 62, No. 161 / Wednesday, August 20, 1997 / Notices 44295

Federal blue-collar employees, and five

representatives from Federal agencies.

Entitlement to membership on the

Committee is provided for in 5 U.S.C.

5347.

The Committee’s primary

responsibility is to review the Prevailing

Rate System and other matters pertinent

to establishing prevailing rates under

subchapter IV, chapter 53, 5 U.S.C., as

amended, and from time to time advise

the Office of Personnel Management.

This scheduled meeting will start in

open session with both labor and

management representatives attending.

During the meeting either the labor

members or the management members

may caucus separately with the Chair to

devise strategy and formulate positions.

Premature disclosure of the matters

discussed in these caucuses would

unacceptably impair the ability of the

Committee to reach a consensus on the

matters being considered and would

disrupt substantially the disposition of

its business. Therefore, these caucuses

will be closed to the public because of

a determination made by the Director of

the Office of Personnel Management

under the provisions of section 10(d) of

the Federal Advisory Committee Act

(Pub. L. 92–463) and 5 U.S.C.

552b(c)(9)(B). These caucuses may,

depending on the issues involved,

constitute a substantial portion of a

meeting.

Annually, the Chair compiles a report

of pay issues discussed and concluded

recommendations. These reports are

available to the public, upon written

request to the Committee’s Secretary.

The public is invited to submit

material in writing to the Chair on

Federal Wage System pay matters felt to

be deserving of the Committee’s

attention. Additional information on

this meeting may be obtained by

contacting the Committee’s Secretary,

Office of Personnel Management,

Federal Prevailing Rate Advisory

Committee, Room 5559, 1900 E Street,

NW., Washington, DC 20415 (202) 606–

1500.

Dated: August 7, 1997.

Phyllis G. Heuerman,

Chair, Federal Prevailing Rate Advisory

Committee.

[FR Doc. 97–21979 Filed 8–19–97; 8:45 am]

BILLING CODE 6325–01–M

OFFICE OF PERSONNEL

MANAGEMENT

Federal Prevailing Rate Advisory

Committee; Cancellation of Open

Committee Meeting

According to the provisions of section

10 of the Federal Advisory Committee

Act (Pub. L. 92–463), notice is hereby

given that the meeting of the Federal

Prevailing Rate Advisory Committee

scheduled for Thursday, August 21,

1997, has been cancelled.

Information on other meetings can be

obtained by contacting the Committee’s

Secretary, Office of Personnel

Management, Federal Prevailing Rate

Advisory Committee, Room 5559, 1900

E Street NW., Washington, DC 20415,

(202) 606–1500.

Dated: August 13, 1997.

Phyllis G. Heuerman,

Chair, Federal Prevailing Rate Advisory

Committee.

[FR Doc. 97–21980 Filed 8–19–97; 8:45 am]

BILLING CODE 6325–01–M

SECURITIES AND EXCHANGE

COMMISSION

Submission for OMB Review;

Comment Request

Upon written request, copies available

from: Securities and Exchange

Commission, Office of Filings and

Information Services, Washington, DC

20549

Extension:

Rule 17f–1(b), SEC File No. 270–28,

OMB Control No. 3235–0032

Rule 17f–1(c) and Form X–17F–1A,

SEC File No. 270–29, OMB Control

No. 3235–0037

Rule 17h–1T and 17h–2T, SEC File

No. 270–359, OMB Control No.

3235–0410

Notice is hereby given that, pursuant

to the Paperwork Reduction Act of 1995

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

and Exchange Commission

(‘‘Commission’’) has submitted to the

Office of Management and Budget

requests for extension of the previously

approved collections of information

discussed below.

Rule 17f–1(b) Requirements for

reporting and inquiry with respect to

missing, lost, counterfeit, or stolen

securities.

Rule 17f–1(b) requires approximately

19,000 entities in the securities industry

to register in the Lost and Stolen

Securities Program. Registration fulfills

a statutory requirement that entities

report and inquire about missing, lost,

counterfeit, or stolen securities.

Registration also allows entities in the

securities industry to gain access to a

confidential data base that stores

information for the Program.

It is estimated that 600 respondents

will register in the Lost and Stolen

Securities Program annually. It is also

estimated that each respondent will

register one time. The average number

of hours necessary to comply with the

Rule 17f–1(b) is one-half hour. The total

annual burden is 300 hours for

respondents, based upon past

submissions. The cost per hour is

approximately $30. Therefore, the total

cost of compliance for respondents is

$9,000.

Rule 17f–1(c) and Form X–17F–1A

Reporting of missing, lost, stolen, or

counterfeit securities.

Rule 17f–1(c) requires approximately

23,000 entities in the securities industry

to report lost, stolen, missing, or

counterfeit securities to a central

database. Form X–17F–1A facilitates the

accurate reporting and precise and

immediate data entry into the central

database. Reporting to the central

database fulfills a statutory requirement

that reporting institutions report and

inquire about missing, lost, counterfeit,

or stolen securities. Reporting to the

central database also allows reporting

institutions to gain access to the

database that stores information for the

Lost and Stolen Securities Program.

It is estimated that 23,000 reporting

institutions will report that securities

are either missing, lost, counterfeit, or

stolen annually. It is also estimated that

each reporting institution will submit

this report 29 times each year. The

average amount of time necessary to

comply with Rule 17f–1(c) and Form X–

17F–1A is five minutes. The total

annual burden is 55,583 hours for

respondents, based upon past

submissions. The average cost per hour

is approximately $30. Therefore, the

total cost of compliance for respondents

is $1,667,490.

Rules 17f–1T and 17h–2T Risk

Assessment Recordkeeping and

Reporting Requirements for Associated

Persons of Brokers and Dealers.

Rules 17h–1T and 17h–2T require

certain broker-dealers to maintain and

file with the Commission certain

records relating to the activities of

affiliates whose business activities are

reasonably likely to have a material

impact on the broker-dealers. These

rules enable the Commission to gather

complete and timely information about

the activities of broker-dealer affiliates

in a form necessary for surveillance,

enforcement, and other regulatory

purposes. The Commission uses this

information to assess the potentially