`[Federal Register Volume 90, Number 12 (Tuesday, January 21, 2025)]
[Proposed Rules]
[Pages 6894-6902]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-00726]


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PENSION BENEFIT GUARANTY CORPORATION

29 CFR Parts 4000, 4006, 4007, 4010, 4041, 4041A, 4043, 4065, 4203, 
4204, 4207, 4211, 4219, 4220, 4233, 4262, 4281, and 4909

RIN 1212-AB51


Miscellaneous Corrections, Clarifications, and Improvements

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Proposed rule.

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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) proposes 
miscellaneous technical corrections, clarifications, and improvements 
to its regulations, including its regulations on premium rates, premium 
due dates, and termination of single-employer plans. These changes are 
a result of PBGC's ongoing retrospective review of the effectiveness 
and clarity of its rules and of statutory changes.

DATES: Comments must be submitted on or before March 24, 2025 to be 
assured of consideration.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the online instructions for submitting comments.
     Email: [email protected]. Refer to 1212-AB51 in the 
subject line.
     Mail or Hand Delivery: Regulatory Affairs Division, Office 
of the General Counsel, Pension Benefit Guaranty Corporation, 445 12th 
Street SW, Washington, DC 20024-2101.
    Commenters are strongly encouraged to submit comments 
electronically. Commenters who submit comments on paper by mail should 
allow sufficient time for mailed comments to be received before the 
close of the comment period. All submissions must include the agency's 
name (Pension Benefit Guaranty Corporation, or PBGC) and the Regulation 
Identifier Number (RIN) for this rulemaking (RIN 1212-AB51). Comments 
received will be posted without change to PBGC's website, www.pbgc.gov, 
including any personal information provided. Do not submit comments 
that include any personally identifiable information or confidential 
business information.
    Copies of comments may also be obtained by writing to Disclosure 
Division ([email protected]), Office of the General Counsel, Pension 
Benefit Guaranty Corporation, 445 12th Street SW, Washington, DC 20024-
2101, or calling 202-326-4040 during normal business hours. If you are 
deaf or hard of hearing, or have a speech disability, please dial 7-1-1 
to access telecommunications relay services.

FOR FURTHER INFORMATION CONTACT: Monica O'Donnell 
([email protected]), Attorney, Regulatory Affairs Division, 
Office of the General Counsel, Pension Benefit Guaranty Corporation, 
445 12th Street SW, Washington, DC 20024-2101; 202-229-8706. If you are 
deaf or hard of hearing, or have a speech disability, please dial 7-1-1 
to access telecommunications relay services.

SUPPLEMENTARY INFORMATION:

Executive Summary

Purpose and Authority

    The purpose of this regulatory action is to make miscellaneous 
technical corrections, clarifications, updates, and improvements to 
several of the Pension Benefit Guaranty Corporation's (PBGC's) 
regulations. These changes are based on PBGC's ongoing retrospective 
review of the effectiveness and clarity of its rules

[[Page 6895]]

and on statutory changes to the Employee Retirement Income Security Act 
of 1974 (ERISA).
    Legal authority for this action comes from section 4002(b)(3) of 
ERISA which authorizes PBGC to issue regulations to carry out the 
purposes of title IV of ERISA. It also comes from section 4006 of ERISA 
(Premium Rates), section 4007 of ERISA (Payment of Premiums), section 
4010 of ERISA (Authority to Require Certain Information), section 4041 
of ERISA (Termination of Single-Employer Plans), section 4041A of ERISA 
(Termination of Multiemployer Plans), section 4043 of ERISA (Reportable 
Events), section 4065 of ERISA (Annual Report of Plan Administrator), 
section 4203 of ERISA (Complete Withdrawal), section 4204 of ERISA 
(Sale of Assets), section 4207 of ERISA (Reduction or Waiver of 
Complete Withdrawal Liability), section 4211 of ERISA (Methods for 
Computing Withdrawal Liability), section 4219 of ERISA (Notice, 
Collection, Etc., of Withdrawal Liability), section 4220 of ERISA 
(Approval of Amendments), section 4233 of ERISA (Partitions of Eligible 
Multiemployer Plans), section 4262 of ERISA (Special Financial 
Assistance by the Corporation), and section 4281 of ERISA (Benefits 
Under Certain Terminated Plans).

Major Provisions

    The major provisions of this proposed rulemaking would amend PBGC's 
regulations on:
     Premium Rates, by codifying the changes of the Setting 
Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) 
(Pub. L. 116-94, Division O) applicable to cooperative and small 
employer charity (CSEC) plans \1\ and certain community newspaper 
plans; \2\
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    \1\ A CSEC plan is a plan maintained by multiple employers, most 
of which are rural cooperatives, charities, or agricultural 
cooperatives or maintained by a rural telephone cooperative 
association. See section 104 of the Pension Protection Act, Public 
Law 109-280.
    \2\ A community newspaper plan means a plan as defined in 
section 303(m)(5) of ERISA and section 430(m)(5) of the Code.
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     Payment of Premiums, by revising the due date for the 
final premium for terminating plans to be the earlier of the normal 
premium due date or 45 days after the date the post-distribution 
certification is filed; and
     Termination of Single-Employer Plans, by setting due dates 
for the standard termination notice and notice of intent to terminate 
where the plan administrator has not provided a proposed termination 
date, and by adding additional criteria majority owners must meet to 
waive their benefits if they are owners through constructive ownership.

Background

    PBGC administers two insurance programs for private-sector defined 
benefit pension plans under title IV of ERISA: a single-employer plan 
termination insurance program and a multiemployer plan insolvency 
insurance program. In addition, PBGC administers a special financial 
assistance program for certain financially distressed multiemployer 
plans. The amendments proposed in this rulemaking apply primarily to 
the single-employer plan termination insurance program.

Proposed Amendments

    The proposed technical and clarifying amendments and improvements 
to PBGC's regulations are discussed below. PBGC invites comment on 
these proposals.

Premium Rates--29 CFR Part 4006

    Sponsors of plans covered under PBGC's single-employer program are 
subject to rules requiring the calculation and payment of annual 
premiums to PBGC under section 4006 of ERISA and PBGC's regulation on 
Premium Rates (29 CFR part 4006), ``premium rates regulation.'' The 
SECURE Act modified the calculation of premiums under section 4006 of 
ERISA for a CSEC plan and the funding requirements for a community 
newspaper plan under section 303(m) of ERISA and section 430(m) of the 
Internal Revenue Code (the Code). The SECURE Act also modified section 
401 of the Code to allow an employer to adopt a new pension plan and 
elect to treat the plan as if it had been adopted during the prior 
taxable year. PBGC proposes to amend its premium rates regulation to 
account for these SECURE Act modifications.

CSEC Plans--Variable Rate Premiums

    The SECURE Act modified flat and variable rate premiums and changed 
the way the variable rate premium is calculated for CSEC plans first 
effective for 2019.\3\ Under section 4006(a)(3)(A) of ERISA, as amended 
by the SECURE Act, CSEC plans calculate the variable rate premiums that 
they owe to PBGC based on alternative minimum funding standards. CSEC 
plans now apply an alternate definition of unfunded vested benefits 
(UVBs). This definition refers to the funding liability of the CSEC 
plan as determined under section 306(j)(5)(C) of ERISA and section 
433(j)(5)(C) of the Code. PBGC issued guidance \4\ on these changes and 
incorporated the special premium rules for CSEC plans into the premium 
filing instructions starting with the 2021 filing instructions.
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    \3\ The SECURE Act's reduced premium rates applicable to CSEC 
plans are reflected in Sec.  4006.3(a) and (b) of PBGC's premium 
rates regulation.
    \4\ PBGC Technical Update 20-1 (2020).
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    Although the rules have been in place for several years, PBGC is 
now proposing to amend its premium rates regulation to codify the 
SECURE Act changes regarding how CSEC plans determine UVBs for the 
purpose of calculating variable rate premiums. First, proposed new 
Sec.  4006.5(h) would provide the rules to calculate a CSEC plan's 
``premium funding target'' using the alternate definition of UVBs as 
provided in section 306(j)(5)(C) of ERISA and section 433(j)(5)(C) of 
the Code. In addition, PBGC would make conforming amendments to 
Sec. Sec.  4006.2, 4006.4(b)(1) and 4006.4(f)(2) to further conform to 
changes under the SECURE Act for CSEC plans.

Community Newspaper Plans

    The SECURE Act amended section 430 of the Code and section 303 of 
ERISA, providing that community newspaper plans may elect to use 
alternative minimum funding standards.\5\ However, section 4006 of 
ERISA was not similarly amended, so community newspaper plans are not 
permitted to use these alternative standards to calculate the premiums 
that they owe to PBGC. PBGC proposes to add a reference to community 
newspaper plans in Sec.  4006.4(f) to denote them as plans subject to 
special funding rules, which are disregarded for purposes of 
determining UVBs.
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    \5\ Section 9707 of the American Rescue Plan Act of 2021, Public 
Law 117-2, further modified the definition of the term ``eligible 
newspaper plan sponsor,'' but that modification does not require 
additional changes to part 4006.
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Definition of New Plan

    Under PBGC's premium rates regulation and its regulation on Payment 
of Premiums (29 CFR part 4007) ``payment of premiums regulation,'' 
plans that are newly adopted are subject to special rules concerning 
calculations and payment of premiums. Before the SECURE Act, a ``new 
plan'' meant a plan that did not exist before the premium payment year. 
Following the SECURE Act, which allows employers to elect to treat 
newly adopted plans as having been adopted during the prior tax year, 
this definition must be changed. The current definition does not 
account for newly adopted plans that employers have elected to treat as 
having a retroactive effective

[[Page 6896]]

date. Accordingly, PBGC proposes to change the definition of ``New 
plan'' in Sec.  4006.2 to mean a plan with an effective date during the 
premium payment year.

Payment of Premiums--29 CFR Part 4007

    The final step in a plan's standard termination is the filing of 
the post-distribution certification under Sec.  4041.29 of PBGC's 
regulation on Termination of Single-Employer Plans (29 CFR part 4041). 
The plan administrator of the terminating plan must file the 
certification (on PBGC Form 501) within 30 days of the final benefits 
distribution date, or within 60 days of the final benefits distribution 
date if it certifies to PBGC within 30 days after the final benefits 
distribution date that the plan assets have been distributed as 
required. Before 2014, the final premium filing for a terminating plan 
was due on the same date it would have been due if the plan had not 
terminated (i.e., the 15th day of the 10th month after the plan year 
began). However, there were instances in which plan administrators of 
terminating plans neglected to file the final premium filing by the 
time it was due because the due date was several months after the Form 
501 was filed. PBGC found that in some of these cases, especially when 
the plan sponsor was no longer in business by the final premium due 
date, it was difficult for the plan administrator to go back or even 
reconstruct records to calculate and pay premiums, as well as pay the 
late payment interest and penalties that PBGC assessed.
    In 2014, PBGC amended its payment of premiums regulation by 
revising the premium due date rules for terminating plans.\6\ This was 
intended to facilitate the timely payment of these final year premiums 
for terminating plans and to relieve them of the burden of calculating 
premiums long after the final distributions were made. This rule set 
the due date for the final premium filing for a terminating plan as the 
earlier of (1) the normal premium due date found in Sec.  4007.11(a), 
or (2) the date when the post-distribution certification is filed. 
Therefore, a plan that closes out in the first eight-and-a-half months 
of its final plan year faces an accelerated premium filing due date.\7\
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    \6\ See 79 FR 13547, 13562 (Mar. 11, 2014).
    \7\ Because of a provision in the Bipartisan Budget Act of 2015 
that supersedes Sec.  4007.11 of PBGC's Payment of Premiums 
regulation, premium filings for plan years beginning in 2025 are due 
on the 15th day of the 9th calendar month in the plan year, 
including plans that, in any other year, would be subject to the 
special rule for plans closing out in the first eight-and-a-half 
months of its final plan year. See Bipartisan Budget Act of 2015, 
Public Law 114-74, Title V, Sect. 502 (2015). See also PBGC 
Technical Update 25-1 (2025).
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    Practitioners have informed PBGC that in some cases, it is 
challenging to prepare and submit both the post-distribution 
certification (i.e., PBGC Form 501) and the final premium filing on the 
same day. As a result of these challenges, some plan administrators 
have missed filing due dates and been assessed late premium payment 
charges.
    For the reasons described in the 2014 rule and above, PBGC still 
believes it is important to have an accelerated premium due date for 
plans that complete a standard termination long before the ``normal'' 
premium due date. However, to reduce the administrative difficulties 
and related possibility of late or missed filings, PBGC proposes to 
amend Sec.  4007.11(d)(2) to revise the due date for the final premium 
filing to be the earlier of (1) the normal premium due date, or (2) 45 
days after the date the post-distribution certification is filed.

Termination of Single-Employer Plans--29 CFR Part 4041

    Under section 4041 of ERISA, a single-employer plan can terminate 
in either a standard termination or a distress termination. A plan 
administrator of a single-employer plan covered by PBGC's termination 
insurance program that has sufficient assets to provide all plan 
benefits may voluntarily terminate the plan in a standard termination. 
The rules governing standard terminations are in section 4041 of ERISA 
and subpart B of PBGC's regulation on Termination of Single-Employer 
Plans (29 CFR part 4041), ``termination regulation.'' Within specified 
timeframes, a plan administrator must notify participants of the 
proposed termination; provide participants detailed information on 
their plan benefits; file certain information with PBGC; and, absent 
the issuance of a notice of noncompliance by PBGC, distribute plan 
assets to satisfy all plan benefits under the plan.
    A single-employer plan insured by PBGC that does not have 
sufficient assets to pay all plan benefits owed to participants and 
beneficiaries but does have sufficient assets to pay benefits 
guaranteed by PBGC, may terminate voluntarily in a distress termination 
only if the employer and the members of the employer's ``controlled 
group'' of affiliated companies meet certain statutory requirements.

Majority Owner

    Under PBGC's termination regulation, in the event that a plan lacks 
sufficient funds to pay required plan benefits, a majority owner may 
forgo receipt of their plan benefits (1) to enable the plan to satisfy 
all other plan benefits in a standard termination,\8\ or (2) in 
connection with a distress termination.\9\ In a standard termination, 
the election to waive payment of benefits is permitted only to 
facilitate the standard termination. This alternative treatment of a 
majority owner's plan benefit is only valid if the election is in 
writing; requisite spousal consent criteria is met, if applicable; and 
the majority owner's election and the spouse's consent does not violate 
a qualified domestic relations order.\10\ A majority owner electing to 
forgo receipt of their plan benefits in a distress termination must 
meet these same criteria as a majority owner in a standard termination, 
but in addition, must receive PBGC approval if such election is made 
after the termination date and would result in PBGC determining that 
the plan is sufficient for guaranteed benefits under paragraph (c) of 
Sec.  4041.47.\11\
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    \8\ 29 CFR 4041.21(b)(2).
    \9\ 29 CFR 4041.47(d).
    \10\ 29 CFR 4041.21(b)(2)(i)-(iv).
    \11\ 29 CFR 4041.47(d).
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    The term ``majority owner'' is defined under Sec.  4041.2 of the 
termination regulation as a person who owns, directly or indirectly, 50 
percent or more, taking into account the constructive ownership rules 
of sections 414(b) and (c) of the Code, of an unincorporated trade or 
business; the capital interest or profits interest in a partnership; or 
either the voting stock of a corporation or the value of all of the 
stock of a corporation. One way in which a person can become a majority 
owner is through an option agreement to acquire stock. If a person has 
an option to acquire stock, that stock is considered as owned by the 
person who holds the option.\12\
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    \12\ 26 U.S.C. 1563(e)(1).
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    PBGC is concerned that the rules in the current regulation do not 
effectively eliminate the risk of participants being coerced to waive 
their benefits as ``majority owners'' when they are given ownership 
options by the plan sponsor in anticipation of plan termination. To 
avoid such potential coercion, PBGC proposes to amend the criteria 
individuals must meet to waive their benefits by modifying its 
application of the constructive ownership rules. Under the proposal, if 
the majority owner has an option to acquire any outstanding interest in 
an organization, such interest

[[Page 6897]]

will be considered as owned by such person by an option agreement under 
26 CFR 1.414(c)-4(b)(1) if the person directly owns 5 percent or more 
of the unincorporated business or trade, capital interest or the 
profits interest in a partnership, or either 5 percent or more of the 
voting stock of a corporation or the value of all the stock of a 
corporation.\13\ Alternatively, if the person does not have a 5 percent 
or more direct ownership interest, the person would be able to qualify 
as a majority owner under an option agreement if the person has been a 
member of the board of directors, a fiduciary, or participated in the 
management of the plan sponsor for each of the 3 years immediately 
preceding the date of plan termination. These exceptions to the 
ownership rules are intended to minimize the potential misuse of option 
agreements and protect the benefits of participants who are not direct 
owners or who have not participated in the management of the plan 
sponsor.
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    \13\ 26 CFR 1.414(c)-3(d)(2).
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Clarifying Due Dates

    To complete a standard termination, the plan administrator must: 
(1) issue notices of intent to terminate and notices of plan benefits 
to participants, beneficiaries, and other affected parties; (2) file a 
standard termination notice and post-distribution certification with 
PBGC; and (3) distribute the plan's assets in satisfaction of the 
plan's benefit liabilities. Under Sec.  4041.25(a), the standard 
termination notice is due on or before the 180th day after the proposed 
termination date. Under Sec.  4041.25(b), a plan's date of termination 
is the later of the date specified in the standard termination notice 
or the date specified in the notice of intent to terminate (but not 
later than 90 days after the earliest date a notice of intent to 
terminate was provided to any party). However, if the plan 
administrator fails to specify such date in the notice of intent to 
terminate and/or fails to file a standard termination notice (thus 
failing to declare a proposed termination date), then the due date for 
the standard termination notice is unclear. PBGC proposes, in such 
cases, to clarify this ambiguity by clearly establishing a due date for 
the standard termination notice that does not depend on the declaration 
of a proposed termination date. Under the proposed rule, Sec.  
4041.25(a) would be modified such that the due date for a standard 
termination notice is the earlier of: (1) 180 days after the plan's 
proposed termination date as specified in the standard termination 
notice; or (2) 60 days before making any distribution governed by 
section 4041(b) of ERISA. Thus, the due date for a standard termination 
notice, where the notice is not filed with PBGC, will be 60 days before 
distributions begin, and PBGC may assess penalties for the missed 
filing from that point going forward.
    PBGC is also proposing a corresponding change to Sec.  4041.29(b), 
which provides to plan administrators who timely filed a standard 
termination notice a 90-day grace period for the assessment of 
penalties for an untimely post-distribution certification. This section 
would be modified such that the grace period continues to be available 
but only if the plan administrator filed a standard termination notice 
within 180 days of the proposed termination date.

Other Clarifications, Corrections, and Updates

Filing, Issuance, Computation of Time, and Record Retention--29 CFR 
Part 4000

    PBGC proposes to amend its regulation on Filing, Issuance, 
Computation of Time, and Record Retention (29 CFR part 4000) to require 
electronic filing by plans of standard termination filings, missing 
participant filings, and coverage determination forms. These filings 
are made by plans and practitioners representing plans, and not by 
individual participants. Filing this information electronically (by 
email or through an e-filing portal) is currently optional. However, 
because electronic filing is more efficient for both PBGC and filers 
and has become the standard method of filing for PBGC's regulated 
community, PBGC proposes to amend Sec.  4000.3(b) to require electronic 
filing by plans for standard termination filings under subpart B of 29 
CFR part 4041, missing participant filings under 29 CFR part 4050, and 
coverage determination forms under section 4021 of ERISA, in accordance 
with instructions on PBGC's website at www.pbgc.gov.
    The proposed rule also makes other clarifying and editorial changes 
to part 4000.

Annual Financial and Actuarial Information Reporting--29 CFR Part 4010

    Under PBGC's regulation on Annual Financial and Actuarial 
Information Reporting (29 CFR part 4010), certain underfunded plans 
\14\ must annually report identifying, financial, and actuarial 
information to PBGC. Section 4010.8(a)(12) provides that the actuarial 
information must be certified, in writing, by an enrolled actuary. PBGC 
proposes to amend this paragraph so that the filing instructions, not 
the regulation, provide the rules about the certification (i.e., what 
information must be contained in the certification and how to complete 
the certification). This proposed amendment is intended to give PBGC 
greater flexibility to consider methods other than written 
certifications, such as e-certifications, in the future.
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    \14\ A filer is described in Sec.  4010.4.
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Reportable Events and Certain Other Notification Requirements--29 CFR 
Part 4043

    Plan administrators and contributing sponsors are responsible for 
notifying PBGC in the event of a reportable event under section 4043 of 
ERISA or a failure to make certain required contributions under section 
303(k)(4) of ERISA or section 430(k)(4) of the Code. PBGC's regulation 
on Reportable Events and Certain Other Notification Requirements (29 
CFR part 4043), the ``reportable events regulation,'' prescribes the 
requirements for notifying PBGC of one of these circumstances. Filers 
must submit these notices using PBGC's e-filing portal. The e-filing 
portal, available for submitting notices for reportable events since 
2016, offers a secure application for submitting reportable events 
information. Currently, under Sec.  4043.3(a)(3), the language states 
that if notices are required for two or more events, the notices can be 
combined into one filing. This provision was originally intended to 
make filing paper notices easier by allowing filers to combine paper 
notices into one filing. However, this provision is obsolete as under 
the e-filing portal, the filer is prompted to enter information for 
only one reportable event per filing. This method is not burdensome for 
filers as information about the filer is saved in the e-filing portal 
and does not need to be re-entered for each filing. Therefore, PBGC is 
proposing to remove the obsolete language in Sec.  4043.3(a)(3).
    PBGC is also proposing changes to Sec.  4043.62 of the reportable 
events regulation. In 2020, Sec.  4043.29 was amended to clarify that 
PBGC does not need notice of a change in the contributing sponsor to a 
plan if the change does not result in a contributing sponsor ceasing to 
be a member of the plan's controlled group.\15\ Therefore, the heading 
of Sec.  4043.29 was revised to remove ``contributing sponsor,'' and 
the

[[Page 6898]]

description of reportable event was revised to provide that a 
reportable event occurs for a plan when there is a transaction that 
results, or will result, in one or more persons (including any person 
who is or was a contributing sponsor) ceasing to be a member of the 
plan's controlled group (other than by merger involving members of the 
same controlled group). The advance notice requirement in Sec.  4043.62 
refers to the description of the event that must be reported under 
Sec.  4043.29. To conform with changes made to Sec.  4043.29 in 2020, 
PBGC proposes to amend the heading of Sec.  4043.62 by removing 
``contributing sponsor or,'' and proposes to amend paragraph (a) of 
Sec.  4043.62 to remove ``contributing sponsor or.'' These amendments 
would clarify and minimize confusion as to the advance notice 
requirement for a change in controlled group.
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    \15\ See 85 FR 6046, 6049 (Feb. 4, 2020).
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Allocating Unfunded Vested Benefits To Withdrawing Employers--29 CFR 
Part 4211

    Under PBGC's regulation on Allocating Unfunded Vested Benefits to 
Withdrawing Employers (29 CFR part 4211), a plan is responsible for 
determining the amount of unfunded vested benefits to be allocated to 
the withdrawing employer and using one of four methods to do so. Under 
Sec.  4211.23, PBGC can approve an alternative allocation method or 
modification to an allocation method if such change or modification 
would not significantly increase the risk of loss to plan participants 
and beneficiaries or to PBGC.
    PBGC proposes to amend paragraph (c) of Sec.  4211.23 by removing 
language that implies that reconsideration of PBGC's decision on an 
alternative allocation method or modification to an allocation method 
is a right of a plan sponsor. Per PBGC's regulations on Rules for 
Administrative Review of Agency Decision (29 CFR part 4003), decisions 
made by PBGC under 29 CFR part 4211 are not subject to either appeal or 
reconsideration. Instead, PBGC has the authority to review, upon 
request or its own initiative, determinations when it is deemed to be 
appropriate. This proposed change will clarify that a plan sponsor may 
request review of PBGC's decision regarding an alternative allocation 
method.

Partitions of Eligible Multiemployer Plans--29 CFR Part 4233

    A multiemployer plan that is seeking partition must comply with the 
requirements set forth under PBGC's regulation on Partitions of 
Eligible Multiemployer Plans (29 CFR part 4233). The specific 
application filing requirements are outlined in Sec.  4233.3, including 
a specific statement under penalties of perjury that the plan sponsor 
must use with the signed and dated application for partition.
    PBGC proposes to amend paragraph (b) of Sec.  4233.3 to better 
comply with the affidavit requirements prescribed by the Department of 
Justice for perjury cases under 28 U.S.C. 1746. The new language for 
the affidavit must include language specifically referring to the 
penalty of perjury ``under the laws of the United States of America'' 
to adhere the sample form outlined in paragraph (1) of 28 U.S.C. 1746.

Special Financial Assistance by PBGC--29 CFR Part 4262

    Under the Special Financial Assistance by PBGC regulation (29 CFR 
part 4262), PBGC is amending paragraph (h)(3)(iv)(B) of Sec.  4262.16 
by changing the reference from ``section 4291(b)(1)(A) of ERISA'' to 
``section 4219(b)(1)(A) of ERISA.''

OMB Control Numbers for PBGC Information Collection Requirements--29 
CFR Part 4909

    PBGC proposes to add a chart in currently reserved part 4909 which 
would display, per the requirements of 5 CFR 1320.5(b)(2)(ii)(C), the 
Office of Management and Budget control numbers of PBGC information 
collections for which there is no corresponding paper or electronic 
form. This change is intended for better organization and clarity. In 
addition, PBGC proposes to remove outdated or duplicative OMB control 
numbers from the following sections: 4007.12, 4010.15, 4041A.11, 
4065.3, 4203.6, 4204.11, 4204.21, 4207.10, 4211.22, 4219.20, 4220.3, 
and 4281.4.

Compliance With Rulemaking Guidelines

Executive Orders 12866 and 13563

    The Office of Management and Budget (OMB) has determined that this 
rule is not a ``significant regulatory action'' under Executive Order 
12866. Accordingly, OMB has not reviewed the proposed rule under 
Executive Order 12866.
    Executive Order 12866 directs agencies to assess all costs and 
benefits of available regulatory alternatives and, if regulation is 
necessary, to select regulatory approaches that maximize net benefits 
(including potential economic, environmental, public health and safety 
effects, distributive impacts, and equity).
    Although this is not a significant regulatory action under 
Executive Order 12866, PBGC has examined the economic and policy 
implications of this proposed rule. Most of the proposed amendments, 
including those to parts 4006, 4007, 4010, and 4041, clarify 
regulations or conform regulations to statutory changes, or are 
otherwise cost-neutral in their impact.
    Section 6 of Executive Order 13563 requires agencies to rethink 
existing regulations by periodically reviewing their regulatory program 
for rules that ``may be outmoded, ineffective, insufficient, or 
excessively burdensome.'' These rules should be modified, streamlined, 
expanded, or repealed as appropriate. PBGC has identified technical 
corrections, clarifications, and improvements to some of its 
regulations and has included those amendments in this proposed 
rulemaking. PBGC expects to propose periodic rulemakings of this 
nature.

Regulatory Flexibility Act

    The Regulatory Flexibility Act \16\ (RFA) imposes certain 
requirements respecting rules that are subject to the notice-and-
comment requirements of section 553(b) of the Administrative Procedure 
Act, or any other law,\17\ and that are likely to have a significant 
economic impact on a substantial number of small entities. Unless an 
agency certifies that a proposed rule will not, if promulgated, have a 
significant economic impact on a substantial number of small entities, 
section 603 of the RFA requires that the agency present an initial 
regulatory flexibility analysis at the time of the publication of the 
proposed rule describing the impact of the rule on small entities and 
seek public comment on such impact. Small entities include small 
businesses, organizations, and governmental jurisdictions.\18\
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    \16\ 5 U.S.C. 601 et seq.
    \17\ The applicable definition of ``rule'' is found in section 
601 of the RFA. See 5 U.S.C. 601(2).
    \18\ The applicable definitions of ``small business,'' ``small 
organization,'' and ``small governmental jurisdiction'' are found in 
section 601 of the RFA. See 5 U.S.C. 601.
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    For purposes of the RFA requirements with respect to this proposed 
rule, PBGC considers a small entity to be a plan with fewer than 100 
participants.\19\ This is substantially the same criterion PBGC uses in 
other regulations \20\ and is consistent with certain requirements in

[[Page 6899]]

title I of ERISA \21\ and the Code,\22\ as well as the definition of a 
small entity that PBGC and the Department of Labor (DOL) have used for 
purposes of the RFA.\23\
---------------------------------------------------------------------------

    \19\ PBGC consulted with the Small Business Administration's 
Office of Advocacy before making this determination. Memorandum 
received from the U.S. Small Business Administration, Office of 
Advocacy on March 9, 2021.
    \20\ See, e.g., special rules for small plans under part 4007 
(Payment of Premiums).
    \21\ See, e.g., section 104(a)(2) of ERISA, which permits the 
Secretary of Labor to prescribe simplified annual reports for 
pension plans that cover fewer than 100 participants.
    \22\ See, e.g., section 430(g)(2)(B) of the Code, which permits 
plans with 100 or fewer participants to use valuation dates other 
than the first day of the plan year.
    \23\ See, e.g., PBGC's proposed rule on Reportable Events and 
Certain Other Notification Requirements, 78 FR 20039, 20057 (Apr. 3, 
2013) and DOL's final rule on Procedures Governing the Filing and 
Processing of Prohibited Transaction Exemption Applications, 89 FR 
4662, 4690 (Jan. 24, 2024).
---------------------------------------------------------------------------

    Further, while some large employers operate small plans along with 
larger ones, in general, most small plans are maintained by small 
employers. PBGC believes that assessing the impact of the final rule on 
small plans is an appropriate substitute for evaluating the effect on 
small entities. The definition of small entity considered appropriate 
for this purpose differs, however, from a definition of small business 
based on size standards promulgated by the Small Business 
Administration (13 CFR 121.201) pursuant to the Small Business Act. 
PBGC therefore requests comments on the appropriateness of the size 
standard used in evaluating the impact on small entities of this 
proposed rule.
    Based on its proposed definition of small entity, PBGC certifies 
under section 605(b) of the RFA that the amendments in this proposed 
rule would not have a significant economic impact on a substantial 
number of small entities. As explained above under ``Executive Orders 
12866 and 13563,'' most of the proposed amendments offer clarifications 
or conform the regulation to statutory changes and thus are neutral in 
their impact. For instance, the clarification of deadlines of standard 
termination filings under part 4041 does not impose any new 
requirements, but rather clarifies existing ones. While it is possible 
that individual small plans may be impacted by this change, the overall 
effect on small plans will not be significant. Accordingly, as provided 
in section 605 of the Regulatory Flexibility Act, sections 603 and 604 
do not apply.

Paperwork Reduction Act

    This proposed rule contains collections of information that PBGC 
has submitted to OMB for review and approval under the Paperwork 
Reduction Act (PRA). OMB's decision regarding these information 
collection requests will be available at http://www.reginfo.gov. 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. Most of the changes PBGC expects to make are 
revisions to filing instructions, where necessary or helpful, to 
incorporate the clarifications in the proposed rule. Therefore, PBGC 
estimates that the proposed rule will have no impact on the hour and 
cost burden of reporting as described below.

Termination of Single-Employer Plans Regulation

    The collection of information under part 4041 is approved under OMB 
control number 1212-0036 (expires March 31, 2026). The current 
information collection requirements have an estimated annual hour 
burden of 41,730 hours and a cost burden of $8,509,747.
    PBGC's Standard Termination Filing Instructions would be updated to 
reflect the changes in this proposed rule to make clear that the forms 
under OMB control number 1212-0036 must be submitted electronically (by 
email or through the e-filing portal) and eliminate the option of 
filing paper forms. In addition, PBGC is making other editorial and 
clarifying changes to both the standard termination and distress 
termination instructions. The clarifications incorporated into the 
instructions would replace or augment existing language but would not 
create additional filing burden.

Annual Financial and Actuarial Information Reporting Regulation

    The collection of information under part 4010 is approved under OMB 
control number 1212-0049 (expires February 28, 2026). The current 
information collection requirements have an estimated annual hour 
burden of 800 hours and a cost burden of $11,080,000.
    PBGC's ERISA 4010 Filing Instructions would be updated to reflect 
the change in this proposed rule to include the rules about the 
certification of actuarial information submitted by certain underfunded 
plans. The change incorporated into the instructions would replace or 
augment existing language but would not create additional filing 
burden.

Missing Participants Regulation

    The collection of information under part 4050 is approved under OMB 
control number 1212-0069 (expires November 30, 2026). The current 
information collection requirements have an estimated annual hour 
burden of 70 hours and a cost burden of $497,835.
    PBGC's Missing Participants Instructions would be updated to 
reflect the changes in this proposed rule to make clear that the forms 
under OMB control number 1212-0069 must be submitted electronically (by 
email or through an e-filing portal) and eliminate the option of filing 
paper forms. The clarifications incorporated into the instructions 
would replace or augment existing language but would not create 
additional filing burden.

Premium Filing Regulation

    The collection of information under part 4007 is approved under OMB 
control number 1212-0009 (expires December 31, 2026). The current 
information collection requirements have an estimated annual hour 
burden of 13,565 hours and a cost burden of $21,661,676.
    PBGC's Comprehensive Premium Instructions would be updated to 
reflect the changes in this proposed rule to change the options for the 
final premium filing due date. The clarifications incorporated into the 
instructions would replace or augment existing language but would not 
create additional filing burden.
    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 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 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).

List of Subjects

29 CFR Part 4000

    Administrative practice and procedure, Employee benefit plans, 
Pension insurance, Pensions, Reporting and recordkeeping requirements.

29 CFR Part 4006

    Employee benefit plans, Pension insurance.

[[Page 6900]]

29 CFR Part 4007

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4010

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4041

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4041A

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4043

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4065

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4203

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4204

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

29 CFR Part 4207

    Employee benefit plans; Pension insurance.

29 CFR Part 4211

    Employee benefit plans; Pension insurance; Reporting and 
recordkeeping requirements.

29 CFR Part 4219

    Employee benefit plans; Pension insurance; Reporting and 
recordkeeping requirements.

29 CFR Part 4220

    Employee benefit plans; Pension insurance; Reporting and 
recordkeeping requirements.

29 CFR Part 4233

    Employee benefit plans; Pension insurance; Reporting and 
recordkeeping requirements.

29 CFR Part 4262

    Employee benefits plans; Pension insurance; Pensions; Reporting and 
recordkeeping requirements.

29 CFR Part 4281

    Employee benefit plans; Pension insurance; Reporting and 
recordkeeping requirements.

29 CFR Part 4909

    Employee benefit plans, Pension insurance, Reporting and 
recordkeeping requirements.

    In consideration of the foregoing, PBGC proposes to amend 29 CFR 
chapter XL as follows.

PART 4000--FILING, ISSUANCE, COMPUTATION OF TIME, AND RECORD 
RETENTION

0
1. The authority citation for part 4000 continues to read as follows:

    Authority:  29 U.S.C. 1083(k), 1302(b)(3).


Sec.  4000.3  [Amended]

0
2. Amend Sec.  4000.3 by:
0
a. Removing the words ``the PBGC'' and ``the PBGC's'' and adding in 
their places the words ``PBGC'' and ``PBGC's'', respectively, wherever 
they appear;
0
b. Removing the words ``Web site'' and adding in their place the word 
``website'' wherever they appear in paragraph (b);
0
c. Adding paragraphs (b)(5), (6), and (7); and
0
d. Removing ``, including permitted filing methods, fax numbers, and 
mail and email addresses,'' in paragraph (c) introductory text.
    The additions read as follows:


Sec.  4000.3  What methods of filing may I use?

* * * * *
    (b) * * *
    (5) You must submit the information required under subpart B of 
part 4041 of this chapter electronically in accordance with the 
instructions on PBGC's website, except as otherwise provided by PBGC.
    (6) You must submit the information required under part 4050 of 
this chapter electronically in accordance with the instructions on 
PBGC's website, except as otherwise provided by PBGC.
    (7) You must submit the information necessary to request a coverage 
determination under section 4021 of ERISA electronically in accordance 
with the instructions on PBGC's website, except as otherwise provided 
by PBGC.
* * * * *

PART 4006--PREMIUM RATES

0
3. The authority citation for part 4006 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1306, 1307.

0
4. Amend Sec.  4006.2 as follows:
0
a. Add a definition of ``CSEC plan'' in alphabetical order;
0
b. In the first sentence of the definition of ``New plan,'' remove 
``that did not exist before'' and add in its place ``with an effective 
date during''; and
0
c. In the definition of ``UVB valuation date,'' remove ``in accordance 
with ERISA section 303(g)(2)'' and add in its place ``for a plan other 
than a CSEC plan in accordance with ERISA section 303(g)(2) and for a 
CSEC plan in accordance with ERISA section 306(c)(8)(B)(i) without 
regard to section 306(c)(8)(B)(ii)''.
    The addition reads as follows:


Sec.  4006.2  Definitions.

* * * * *
    CSEC plan means a plan as defined in section 210(f)(1) of ERISA.
* * * * *
0
5. Amend Sec.  4006.4 by revising paragraphs (b)(1) and (f)(2) to read 
as follows:


Sec.  4006.4  Determination of unfunded vested benefits.

* * * * *
    (b) * * *
    (1) In general. A plan's premium funding target is its standard 
premium funding target under paragraph (b)(2) of this section, except 
that--
    (i) If the plan is not a CSEC plan and an election to use the 
alternative premium funding target under Sec.  4006.5(g) is in effect, 
its premium funding target is its alternative premium funding target 
under Sec.  4006.5(g), and;
    (ii) If the plan is a CSEC plan, its premium funding target is 
determined under Sec.  4006.5(h).
* * * * *
    (f) * * *
    (2) Section 303(m) of ERISA and section 430(m) of the Code, dealing 
with defined benefit pension plans maintained by certain community 
newspapers.
0
6. Amend Sec.  4006.5 by adding paragraph (h) to read as follows:


Sec.  4006.5  Exemptions and special rules.

* * * * *
    (h) CSEC plan premium funding target. The premium funding target of 
a CSEC plan is its funding liability as determined under section 
306(j)(5)(C) of ERISA for the UVB valuation year taking only vested 
benefits into account.

PART 4007--PAYMENT OF PREMIUMS

0
7. The authority citation for part 4007 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1303(a), 1306, 1307.


[[Page 6901]]


0
8. Amend Sec.  4007.11 by revising paragraph (d)(2) to read as follows:


Sec.  4007.11  Due Dates

* * * * *
    (d) * * *
    (2) Forty-five (45) days after the date the post-distribution 
certification under Sec.  4041.29 of this chapter is filed.
* * * * *


Sec.  4007.12  [Amended]

0
9. Amend Sec.  4007.12 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0009)''.

PART 4010--ANNUAL FINANCIAL AND ACTUARIAL INFORMATION REPORTING

0
10. The authority citation for part 4010 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1310.

0
11. Amend Sec.  4010.8 by revising paragraph (a)(12) to read as 
follows:


Sec.  4010.8  Plan actuarial information.

    (a) * * *
    (12) Certification of the actuarial information by an enrolled 
actuary, as described in the related filing instructions and permitted 
under 26 CFR 301.6059-1(d).
* * * * *


Sec.  4010.15  [Removed]

0
12. Remove Sec.  4010.15.

PART 4041--TERMINATION OF SINGLE-EMPLOYER PLANS

0
13. The authority citation for part 4041 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1341, 1344, 1350.

0
14. Amend Sec.  4041.21 by adding paragraph (b)(2)(v) to read as 
follows:


Sec.  4041.21  Requirements for a standard termination.

* * * * *
    (b) * * *
    (2) * * *
    (v) In any case in which the majority owner has an option to 
acquire any outstanding interest in an organization, such interest will 
be considered as owned by such person only if the following 
requirements are met:
    (A) The person has a 5 percent or more direct ownership interest, 
or
    (B) Such person has been a member of the board of directors, a 
fiduciary, or participated in the management of the plan sponsor for 
each of the 3 years immediately preceding the date of the plan 
termination.
0
15. Amend Sec.  4041.25 by revising paragraph (a) to read as follows:


Sec.  4041.25  Standard termination notice.

    (a) Notice requirement. The plan administrator must file with PBGC 
a standard termination notice, consisting of PBGC Form 500, completed 
in accordance with the instructions thereto, on or before the earlier 
of--
    (1) One hundred-eighty (180) days after the proposed termination 
date; or
    (2) Sixty (60) days before making any distribution governed by 
section 4041(b) of ERISA and this part.
* * * * *
0
16. Amend Sec.  4041.29 by revising paragraph (b) to read as follows:


Sec.  4041.29  Post-distribution certification.

* * * * *
    (b) Penalty considerations. If a standard termination notice is 
filed in accordance with Sec.  4041.25(a)(1), PBGC may assess a penalty 
for a late filing under paragraph (a) of this section only if the 
required information is filed more than 90 days after the distribution 
deadline (including extensions) under Sec.  4041.28(a).


Sec.  4041.47  [Amended]

0
17. Amend Sec.  4041.47 by removing ``Sec.  4041.21(b)(2)(i) through 
(iv)'' and adding in its place ``Sec.  4041.21(b)(2)(i) through (v)'' 
in paragraph (d)(1).

PART 4041A--TERMINATION OF MULTIEMPLOYER PLANS

0
18. The authority citation for part 4041A continues to read as follows:

    Authority: 29 U.S.C. 1302(b)(3), 1341a, 1431, 1441.


Sec.  4041A.11  [Amended]

0
19. Amend Sec.  4041A.11 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0020)''.

PART 4043--REPORTABLE EVENTS AND CERTAIN OTHER NOTIFICATION 
REQUIREMENTS

0
20. The authority citation for part 4043 continues to read as follows:

    Authority: 29 U.S.C. 1083(k), 1302(b)(3), 1343.


Sec.  4043.3  [Amended]

0
21. Amend Sec.  4043.3 by removing the last sentence of paragraph 
(a)(3).
0
22. Amend Sec.  4043.62 by revising the section heading and paragraph 
(a) to read as follows:


Sec.  4043.62  Change in controlled group.

    (a) Reportable event. Advance notice is required for a change in a 
plan's controlled group, as described in Sec.  4043.29(a).
* * * * *

PART 4065--ANNUAL REPORT

0
23. The authority citation for part 4065 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1365.


Sec.  4065.3  [Amended]

0
24. Amend Sec.  4065.3 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0026)''.

PART 4203--EXTENSION OF SPECIAL WITHDRAWAL LIABILITY RULES

0
25. The authority citation for part 4203 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3).


Sec.  4203.6  [Removed]

0
26. Remove Sec.  4203.6.

PART 4204--VARIANCES FOR SALE OF ASSETS

0
27. The authority citation for part 4204 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1384(c).


Sec.  4204.11  [Amended]

0
28. Amend Sec.  4204.11 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0021)''.


Sec.  4204.21  [Amended]

0
29. Amend Sec.  4204.21 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0021)''.

PART 4207--REDUCTION OR WAIVER OF COMPLETE WITHDRAWAL LIABILITY

0
30. The authority citation for part 4207 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1387.


Sec.  4207.10  [Amended]

0
31. Amend Sec.  4207.10 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0044)''.

PART 4211--ALLOCATING UNFUNDED VESTED BENEFITS TO WITHDRAWING 
EMPLOYERS

0
32. The authority citation for part 4211 continues to read as follows:

    Authority: 29 U.S.C. 1302(b)(3); 1391(c)(1), (c)(2)(D), 
(c)(5)(A), (c)(5)(B), (c)(5)(D), and (f).


Sec.  4211.22  [Amended]

0
33. Amend Sec.  4211.22 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0035)''.

[[Page 6902]]

Sec.  4211.23  [Amended]

0
34. Amend Sec.  4211.23 by removing ``of the sponsor's right to request 
a reconsideration of the decision pursuant to part 4003 of this 
chapter'' and adding in its place ``that the plan sponsor may request 
review of the decision'' in paragraph (c).

PART 4219--NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL 
LIABILITY

0
35. The authority citation for part 4219 continues to read as follows:

    Authority: 29 U.S.C. 1302(b)(3) and 1399(c)(6).


Sec.  4219.20  [Removed]

0
36. Remove Sec.  4219.20.

PART 4220--PROCEDURES FOR PBGC APPROVAL OF PLAN AMENDMENTS

0
37. The authority citation for part 4220 continues to read as follows:

    Authority: 29 U.S.C. 1302(b)(3), 1400.


Sec.  4220.3  [Amended]

0
38. Amend Sec.  4220.3 by removing ``(Approved by the Office of 
Management and Budget under control number 1212-0031)''.

PART 4233--PARTITIONS OF ELIGIBLE MULTIEMPLOYER PLANS

0
39. The authority citation for part 4233 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1413.

0
40. Amend Sec.  4233.3 by revising the second sentence in paragraph (b) 
to read as follows:


Sec.  4233.3  Application filing requirements.

* * * * *
    (b) * * * The application must be signed and dated by an authorized 
trustee who is a current member of the board of trustees, and must 
include the following statement under penalties of perjury: ``Under 
penalty of perjury under the laws of the United States of America, I 
declare that I have examined this application, including accompanying 
documents, and, to the best of my knowledge and belief, the application 
contains all the relevant facts relating to the application; all 
statements of fact contained in the application are true, correct, and 
not misleading because of omission of any material fact; and all 
accompanying documents are what they purport to be.'' * * *
* * * * *

PART 4262--SPECIAL FINANCIAL ASSISTANCE BY PBGC

0
41. The authority citation for part 4262 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1432.


Sec.  4262.16  [Amended]

0
42. Amend Sec.  4262.16 by removing the citation to ``section 
4291(b)(1)(A) of ERISA'' and adding in its place ``section 
4219(b)(1)(A) of ERISA'' in paragraph (h)(3)(iv)(B).

PART 4281--DUTIES OF PLAN SPONSOR FOLLOWING MASS WITHDRAWAL

0
43. The authority citation for part 4281 continues to read as follows:

    Authority:  29 U.S.C. 1302(b)(3), 1341(a), 1399(c)(1)(D), 1431, 
and 1441.


Sec.  4281.4  [Removed]

0
44. Remove Sec.  4281.4.
0
45. Add part 4909, consisting of Sec.  ??.??, to read as follows:

PART 4909--OMB CONTROL NUMBERS FOR PBGC INFORMATION COLLECTION 
REQUIREMENTS

    Authority:  29 U.S.C. 1302(b)(3), 5 CFR part 1320.


Sec.  4909.1  Information collection control numbers.

    PBGC regulations that contain information collections requirements 
without corresponding written or electronic forms, questionnaires, or 
instructions are displayed in table 1 to this section. They are 
displayed along with their respective control numbers as assigned by 
the Office of Management and Budget (OMB) under the Paperwork Reduction 
Act, 44 U.S.C. 3501 et seq.

                        Table 1 to Sec.   4909.1
------------------------------------------------------------------------
                                                             OMB control
       Regulation(s) and Information Collection Title            No.
------------------------------------------------------------------------
Part 4062, Liability for Termination of Single-Employer        1212-0017
 Plans.....................................................
Part 4204, Variances for Sale of Assets....................    1212-0021
Part 4231, Mergers and Transfer Between Multiemployer Plans    1212-0022
Part 4203, Extension of Special Withdrawal Liability Rules.    1212-0023
Part 4220, Procedures for PBGC Approval of Plan Amendments.    1212-0031
Part 4219, Notice, Collection, and Redetermination of          1212-0034
 Withdrawal Liability......................................
Part 4211, Allocating Unfunded Vested Benefits.............    1212-0035
Part 4208, Reduction or Waiver of Partial Withdrawal           1212-0039
 Liability.................................................
Part 4207, Reduction or Waiver of Complete Withdrawal          1212-0044
 Liability.................................................
Part 4003, Administrative Appeals (Employers)..............    1212-0061
Part 4003, Filings for Reconsiderations....................    1212-0063
Parts 4041 and 4042, Disclosure of Information in Distress     1212-0065
 and PBGC-Initiated Termination Information................
Part 4233, Partitions of Eligible Multiemployer Plans......    1212-0068
------------------------------------------------------------------------


    Issued in Washington, DC, by
Ann Y. Orr,
Acting Director, Pension Benefit Guaranty Corporation.
[FR Doc. 2025-00726 Filed 1-17-25; 8:45 am]
BILLING CODE 7709-02-P`