Federal Register / Vol. 63, No. 85 / Monday, May 4, 1998 / Notices 24577

PENSION BENEFIT GUARANTY

CORPORATION

Proposed Submission of Information

Collection for OMB Review; Comment

Request; Liability for Termination of

Single-Employer Plans

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Notice of intention to request

extension of OMB approval.

SUMMARY: The Pension Benefit Guaranty

Corporation (‘‘PBGC’’) intends to

request that the Office of Management

and Budget (‘‘OMB’’) extend approval,

under the Paperwork Reduction Act, of

a collection of information contained in

its regulation on Liability for

Termination of Single-Employer Plans,

29 CFR Part 4062 (OMB control number

1212–0017; expires September 30,

1998). 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 July 6, 1998.

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 collection of

information may be obtained without

charge by writing to the PBGC’s

Communications and Public Affairs

Department at the address given above

or calling 202–326–4040. (For TTY and

TDD, call 800–877–8339 and request

connection to 202–326–4040). The

regulation on Liability for Termination

of Single-employer Plans can be

accessed on the PBGC’s home page at

http://www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Counsel, or Catherine B. Klion,

Attorney, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005–4026, 202–326–4024. (For TTY

and TDD, call 800–877–8339 and

request connection to 202–326–4024).

SUPPLEMENTARY INFORMATION: Section

4062 of the Employee Retirement

Income Security Act of 1974 provides

that the contributing sponsor of a singleemployer pension plan and members of

the sponsor’s controlled group (‘‘the

employer’’) incur liability (‘‘employer

liability’’) if the plan terminates with

assets insufficient to pay benefit

liabilities under the plan. The PBGC’s

statutory lien for employer liability and

the payment terms for employer liability

are affected by whether and to what

extent employer liability exceeds 30

percent of the employer’s net worth.

Section 4062.6 of the PBGC’s

employer liability regulation (29 CFR

4062.6) requires a contributing sponsor

or member of the contributing sponsor’s

controlled group who believes employer

liability upon plan termination exceeds

30 percent of the employer’s net worth

to so notify the PBGC and to submit net

worth information. This information is

necessary to enable the PBGC to

determine whether and to what extent

employer liability exceeds 30 percent of

the employer’s net worth.

The collection of information under

the regulation has been approved by

OMB under control number 1212–0017

through September 30, 1998. The PBGC

intends to request that OMB extend its

approval for another three years. An

agency may not conduct or sponsor, and

a person is not required to respond to,

a collection of information unless it

displays a currently valid OMB control

number.

The PBGC estimates that an average of

13 contributing sponsors or controlled

group members per year will respond to

this collection of information. The

PBGC further estimates that the average

annual burden of this collection of

information will be 12 hours and $1800

per respondent, with an average total

annual burden of 156 hours and

$23,400.

The PBGC is soliciting public

comments to—

• evaluate whether the collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information will have practical utility;

• evaluate the accuracy of the

agency’s estimate of the burden of the

collection of information, including the

validity of the methodology and

assumptions used;

• enhance the quality, utility, and

clarity of the information to be

collected; and

• minimize 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.

Issued in Washington, DC, this 27th day of

April, 1998.

David M. Strauss,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 98–11710 Filed 5–1–98; 8:45 am]

BILLING CODE 7708–01–P

PENSION BENEFIT GUARANTY

CORPORATION

Proposed Submission of Information

Collection for OMB Review; Comment

Request; Disclosure to Participants

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Notice of intention to request

extension of OMB approval.

SUMMARY: The Pension Benefit Guaranty

Corporation (‘‘PBGC’’) intends to

request that the Office of Management

and Budget (‘‘OMB’’) extend approval,

under the Paperwork Reduction Act, of

the collection of information under its

regulation on Disclosure to Participants,

29 CFR Part 4011 (OMB control number

1212–0050; expires September 30,

1998). 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 July 6, 1998.

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 collection of

information may be obtained without

charge by writing to the PBGC’s

Communications and Public Affairs

Department at the address given above

or calling 202–326–4040. (For TTY and

TDD, call 800–877–8339 and request

connection to 202–326–4040). The

regulation on Disclosure to Participants

can be accessed on the PBGC’s home

page at http://www.pbgc.gov.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Counsel, or Catherine B. Klion,

Attorney, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005–4026, 202–326–4024. (For TTY

and TDD, call 800–877–8339 and

request connection to 202–326–4024).