Federal Register / Vol. 86, No. 177 / Thursday, September 16, 2021 / Notices 51685 

1Under section 4041A(f)(2) of ERISA, PBGC may 

prescribe reporting requirements for terminated 

multiemployer pension plans, which PBGC 

considers appropriate to protect the interests of 

plan participants and beneficiaries or to prevent 

unreasonable loss to the corporation. 

2Under section 4261(b)(1) of ERISA, PBGC 

provides financial assistance under such conditions 

as the corporation determines are equitable and are 

appropriate to prevent unreasonable loss to the 

corporation with respect to the plan. 

3Section 4008 of ERISA requires the corporation, 

as soon as practicable after the close of each fiscal 

year, to transmit a report to the President and the 

Congress, including financial statements setting 

forth the finances of the corporation at the end of 

the fiscal year and the result of its operations 

(including the source and application of its funds) 

for the fiscal year. 

Executive Order 13658 minimum wage. 

Seventy percent of the new Executive 

Order 13658 minimum wage rate of 

$11.25 is $7.875. Because the Executive 

Order provides that the rate must be 

rounded to the nearest $0.05, the new 

minimum hourly cash wage for tipped 

workers performing on or in connection 

with covered contracts beginning 

January 1, 2022 is therefore $7.90 per 

hour. 

V. Appendix 

The Appendix to this notice provides 

a comprehensive chart of the CPI–W 

data published by BLS that the 

Department used to calculate the new 

Executive Order 13658 minimum wage 

rate based on the methodology 

explained herein. 

Dated: September 9, 2021. 

Jessica Looman, 

Acting Administrator, Wage and Hour 

Division. 

Appendix: Data Used To Determine 

Executive Order 13658 Minimum Wage 

Rate Effective January 1, 2022 

Data Source: Consumer Price Index for 

Urban wage Earners and Clerical Workers 

(CPI–W) (United States city average, all 

items, not seasonally adjusted). 

Quarter 3 Quarter 4 Quarter 1 Quarter 2 Annual 

average 

2019Q3 to 2020Q2 250.236 250.112 250.251 250.894 250.644 250.452 251.361 251.935 251.375 249.515 249.521 251.054 250.6125 

2020Q3 to 2021Q2 252.636 253.597 254.004 254.076 253.826 254.081 255.296 256.843 258.935 261.237 263.612 266.412 257.0463 

Annual Percentage Increase .. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 2.567% 

[FR Doc. 2021–19995 Filed 9–15–21; 8:45 am] 

BILLING CODE 4510–27–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Submission of Information Collection 

for OMB Review; Comment Request; 

Survey of Multiemployer Pension Plan 

Withdrawal Liability Information 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of request for extension 

of OMB approval of information 

collection. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (PBGC) is requesting that 

the Office of Management and Budget 

(OMB) extend approval under the 

Paperwork Reduction Act, of a survey of 

terminated and insolvent multiemployer 

pension plans to obtain withdrawal 

liability information. PBGC needs the 

withdrawal liability information to 

estimate its multiemployer program 

liabilities for purposes of its financial 

statements. This notice informs the 

public of PBGC’s request and solicits 

public comment on the collection of 

information. 

DATES: Comments must be submitted on 

or before October 18, 2021. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

A copy of the request will be posted 

on PBGC’s website at www.pbgc.gov/ 

prac/laws-and-regulation/federalregister-notices-open-for-comment. It 

may also be obtained without charge by 

writing to the Disclosure Division of the 

Office of the General Counsel of PBGC, 

1200 K Street NW, Washington, DC 

20005–4026; or, calling 202–229–4040 

during normal business hours (TTY 

users may call the Federal Relay Service 

toll-free at 800–877–8339 and ask to be 

connected to 202–229–4040). 

FOR FURTHER INFORMATION CONTACT: 

Hilary Duke (duke.hilary@pbgc.gov), 

Assistant General Counsel for 

Regulatory Affairs, Office of the General 

Counsel, Pension Benefit Guaranty 

Corporation, 1200 K Street NW, 

Washington, DC 20005–4026, 202–229– 

3839. (TTY users may call the Federal 

relay service toll-free at 1–800–877– 

8339 and ask to be connected to 202– 

229–3839.) 

SUPPLEMENTARY INFORMATION: When a 

contributing employer withdraws from 

an underfunded multiemployer pension 

plan, the plan sponsor assesses 

withdrawal liability against the 

employer. The plan sponsor is required 

to determine and collect withdrawal 

liability in accordance with section 

4219 of the Employee Retirement 

Income Security Act of 1974 (ERISA). 

The plan sponsor assesses withdrawal 

liability by issuing a notice to an 

employer, including the amount of the 

employer’s liability and a schedule of 

payments. PBGC’s regulation on Notice, 

Collection, and Redetermination of 

Withdrawal Liability (29 CFR part 4219) 

requires the plan sponsor to file with 

PBGC a certification that notices have 

been provided to employers. 

PBGC collects information about 

withdrawal liability that is owed by 

withdrawn employers of terminated 1

and insolvent 2 multiemployer pension 

plans. PBGC distributes annual surveys 

that newly insolvent plans receiving 

financial assistance and newly 

terminated plans not yet receiving 

financial assistance are required to 

complete and return to PBGC. Smaller 

plans with less than 500 participants are 

not required to complete the survey. 

PBGC needs the information from the 

survey about withdrawal liability 

payments and settlements, and whether 

employers have withdrawn from the 

plan but have not yet been assessed 

withdrawal liability, to estimate with 

more precision PBGC’s multiemployer 

program liabilities for purposes of its 

financial statements.3 PBGC also uses 

the information for its Multiemployer 

Pension Insurance Modelling System 

assumptions on collection of 

withdrawal liability. Information 

provided to PBGC is confidential to the 

extent provided in the Freedom of 

Information Act and the Privacy Act. 

The existing collection of information 

was approved under OMB control 

number 1212–0071 (expires November 

30, 2021). On June 23, 2021, PBGC 

published in the Federal Register (at 86 

51686 Federal Register / Vol. 86, No. 177 / Thursday, September 16, 2021 / Notices 

FR 32982) a notice informing the public 

of its intent to request an extension of 

this collection of information. No 

comments were received. PBGC is 

requesting that OMB extend approval of 

the collection for 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. 

PBGC estimates that the survey will 

be sent to about 6 newly terminated and 

insolvent plans per year. PBGC 

estimates that each survey would 

require approximately 20 hours to 

complete by a combination of pension 

fund office staff (50%) and outside 

professionals (attorneys and actuaries) 

(50%). PBGC estimates a total hour 

burden of 60 hours (based on 10 hours 

of pension fund office time per plan). 

The estimated dollar equivalent of this 

hour burden, based on an assumed 

hourly rate of $75 for administrative, 

clerical, and supervisory time is $4,500. 

PBGC estimates a total cost burden for 

the withdrawal liability survey of 

$24,000 (based on a 60 attorney and 

actuary hours (10 hours × 6 plans) 

assuming an average hourly rate of 

$400). 

Issued in Washington, DC. 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2021–19981 Filed 9–15–21; 8:45 am] 

BILLING CODE 7709–02–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Submission of Information Collection 

for OMB Review; Comment Request; 

Mergers and Transfers Between 

Multiemployer Plans 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of request for extension 

of OMB approval of information 

collection. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (PBGC) is requesting that 

the Office of Management and Budget 

(OMB) extend approval, under the 

Paperwork Reduction Act, of a 

collection of information contained in 

PBGC’s regulation on Mergers and 

Transfers Between Multiemployer 

Plans. This notice informs the public of 

PBGC’s request and solicits public 

comment on the collection of 

information. 

DATES: Comments must be submitted on 

or October 18, 2021. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

A copy of the request will be posted 

on PBGC’s website at www.pbgc.gov/ 

prac/laws-and-regulation/federalregister-notices-open-for-comment. It 

may also be obtained without charge by 

writing to the Disclosure Division of the 

Office of the General Counsel of PBGC, 

1200 K Street NW, Washington, DC 

20005–4026; or, calling 202–229–4040 

during normal business hours (TTY 

users may call the Federal Relay Service 

toll-free at 800–877–8339 and ask to be 

connected to 202–229–4040). 

FOR FURTHER INFORMATION CONTACT: 

Hilary Duke (duke.hilary@pbgc.gov), 

Assistant General Counsel for 

Regulatory Affairs, Office of the General 

Counsel, Pension Benefit Guaranty 

Corporation, 1200 K Street NW, 

Washington, DC 20005–4026, 202–229– 

3839. (TTY users may call the Federal 

relay service toll-free at 1–800–877– 

8339 and ask to be connected to 202– 

229–3839.) 

SUPPLEMENTARY INFORMATION: Section 

4231(a) and (b) of the Employee 

Retirement Income Security Act of 1974 

(ERISA) requires plans that are involved 

in a merger or transfer to give PBGC 120 

days notice of the transaction and 

provides that if PBGC determines that 

specified requirements are satisfied, the 

transaction will be deemed not to be in 

violation of ERISA section 406(a) or 

(b)(2) (dealing with prohibited 

transactions). 

PBGC’s regulation on Mergers and 

Transfers Between Multiemployer Plans 

(29 CFR part 4231) sets forth the 

procedures for giving notice of a merger 

or transfer under section 4231 and for 

requesting a compliance determination. 

The regulations specify the information 

that must be included in a merger or 

transfer notice. A request for a 

compliance determination must provide 

additional information to enable PBGC 

to make an explicit finding that the 

merger/transfer requirements have been 

satisfied. 

Section 4231(e) of ERISA clarifies 

PBGC’s authority to facilitate a merger (a 

‘‘facilitated merger’’) of two or more 

multiemployer plans if certain statutory 

requirements are met. For purposes of 

section 4231(e), ‘‘facilitation’’ may 

include training, technical assistance, 

mediation, communication with 

stakeholders, and support with related 

requests to other government agencies. 

In addition, subject to the requirements 

of section 4231(e)(2), PBGC may provide 

financial assistance (within the meaning 

of section 4261 of ERISA) to facilitate a 

merger (a ‘‘financial assistance merger’’) 

it determines is necessary to enable one 

or more of the plans involved to avoid 

or postpone insolvency. PBGC’s 

regulations specify the information 

requirements for a voluntary request for 

a facilitated merger under section 

4231(e) of ERISA, including a financial 

assistance merger. 

PBGC uses information submitted by 

plan sponsors under the regulation to 

determine whether mergers and 

transfers conform to the requirements of 

ERISA section 4231 and the regulation. 

The collection of information under 

the regulation has been approved by 

OMB under control number 1212–0022 

(expires November 30, 2021). On June 

23, 2021, PBGC published in the 

Federal Register (at 86 FR 32983) a 

notice informing the public of its intent 

to request an extension of this collection 

of information. No comments were 

received. PBGC is requesting that OMB 

extend approval of the collection for 

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. 

PBGC estimates that there are 14 

transactions each year (excluding 

financial assistance mergers). The 

estimated annual burden of the 

collection of information for 14 

transactions (excluding financial 

assistance mergers) is 14 fund office 

hours and $84,400 in contractor costs 

for work by attorneys and actuaries. 

PBGC further estimates that there is one 

request each year for a financial 

assistance merger. The annual burden of 

the collection of information for 

financial assistance mergers is 10 fund 

office hours and $36,000 in contractor 

costs. The total annual burden of the 

collection of information is 

approximately 24 fund office hours and 

$120,400 in contractor costs. 

Issued in Washington, DC, by: 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2021–19978 Filed 9–15–21; 8:45 am] 

BILLING CODE 7709–02–P