31540 Federal Register / Vol. 86, No. 112 / Monday, June 14, 2021 / Notices 

(OMB) extend approval, under the 

Paperwork Reduction Act, of a 

collection of information with 

modifications. The purpose of this 

information collection is to survey 

insurance companies that provide group 

annuities for premium rates and related 

information to calibrate actuarial 

interest rate assumptions. The American 

Council of Life Insurers conducts this 

voluntary survey for PBGC. This notice 

informs the public of PBGC’s request 

and solicits public comment on the 

collection. 

DATES: Comments must be submitted by 

July 14, 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 https://

www.pbgc.gov/prac/laws-andregulation/federal-register-notices-openfor-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; 

faxing a request to 202–326–4042; or, 

calling 202–326–4040 during normal 

business hours (TTY users may call the 

Federal Relay Service toll-free at 800– 

877–8339 and ask to be connected to 

202–326–4040). The Disclosure Division 

will email, fax, or mail the information 

to you, as you request. 

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; or Gregory Katz (katz.gregory@

pbgc.gov), Attorney, Regulatory Affairs 

Division, Office of the General Counsel, 

Pension Benefit Guaranty Corporation, 

1200 K Street NW, Washington, DC 

20005–4026, 202–229–3829. TTY users 

may call the Federal Relay Service tollfree at 800–877–8339 and ask to be 

connected to 202–229–3839 or 202– 

229–3829. 

SUPPLEMENTARY INFORMATION: PBGC’s 

regulations prescribe actuarial valuation 

methods and assumptions (including 

interest rate assumptions) to be used to 

determine the actuarial present value of 

benefits under single-employer plans in 

involuntary or distress terminations (29 

CFR part 4044) and the value of benefits 

and certain assets under multiemployer 

plans that undergo a mass withdrawal of 

contributing employers (29 CFR part 

4281). In each month immediately 

preceding the start of a new calendar 

quarter, PBGC publishes the interest 

rates to be used under those regulations 

for plans terminating or undergoing 

mass withdrawal during the next 

quarter. 

The interest rates are intended to 

reflect current conditions in the annuity 

markets. To determine these interest 

rates, PBGC gathers premium rate data 

from insurance companies that are 

providing group annuity contracts to 

terminating pension plans through a 

quarterly survey. The American Council 

of Life Insurers (ACLI) distributes the 

survey and provides PBGC with ‘‘blind’’ 

data (i.e., PBGC is unable to match 

responses with the insurance companies 

that submitted them). PBGC also uses 

the information from the survey in 

determining the interest rates it uses to 

value benefits payable to participants 

and beneficiaries in PBGC-trusteed 

plans for purposes of PBGC’s financial 

statements. 

PBGC is proposing several changes to 

the survey distributed by ACLI: 

• Addition of a question asking for 

specific information about the interest 

assumptions underlying the annuity 

premium rates reported in parts I and II 

of the survey. This information is 

needed to allow PBGC to better analyze 

annuity price data provided in the 

survey. 

• Increases to the dollar ranges in the 

questions on respondents’ group 

annuity business in part III to allow the 

survey to continue to capture the 

variability and range of business 

accepted by respondents as the prices of 

plan termination annuity contracts 

increase with inflation. 

• Changes to the instructions to 

clarify that respondents should provide 

pricing information only for full plan 

terminations (and transactions priced 

consistently with full plan 

terminations), that the annuity premium 

rates provided should include 

reductions for investment expenses but 

exclude administrative expenses, and 

that respondents should assume that 

plan provisions are straightforward and 

do not contain significant levels of antiselection, expensive options, or 

subsidies. 

• Addition of a confirmation that 

administrative expenses are excluded 

from pricing information and an option 

to comment on any exceptions. This is 

needed for PBGC to compare pricing 

information amongst survey responses 

when respondents are unable to 

completely exclude administrative 

expenses from pricing information. 

• Consolidation and simplification of 

former parts III and IV into a new part 

III and elimination of questions asking 

for information PBGC no longer uses. 

These changes streamline and simplify 

the response process. 

• Modification of a question asking 

for the volume of respondents’ plan 

termination annuity business so that it 

requests annual data instead of quarterly 

data to reduce volatility in survey 

responses. 

• Addition of a question soliciting 

feedback on how PBGC could improve 

the survey process. 

• Addition of flexibility to conduct 

the survey electronically. 

This voluntary survey is directed at 

insurance companies most, if not all, of 

which are members of ACLI. The survey 

is conducted quarterly and 

approximately 20 insurance companies 

will be asked to participate. 

The existing collection of information 

was approved under OMB control 

number 1212–0030 (expires August 31, 

2021). On April 1, 2021, PBGC 

published in the Federal Register (at 86 

FR 17217) a notice informing the public 

of its intent to request an extension of 

this collection of information, as 

modified. No comments were received. 

PBGC is requesting that OMB extend 

approval of the collection (with 

modifications) 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 about 6 

insurance companies will respond to 

the survey each quarter, and that each 

survey will require approximately 30 

minutes to complete and return. The 

total burden is estimated to be 12 hours 

(30 minutes per survey × 4 surveys per 

year × 6 respondents per quarter). 

Issued in Washington, DC. 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2021–12362 Filed 6–11–21; 8:45 am] 

BILLING CODE 7709–02–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Submission of Information Collections 

for OMB Review; Comment Request; 

Reportable Events; Notice of Failure 

To Make Required Contributions 

AGENCY: Pension Benefit Guaranty 

Corporation. 


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Federal Register / Vol. 86, No. 112 / Monday, June 14, 2021 / Notices 31541 

ACTION: Notice of request for OMB 

approval of modifications to currentlyapproved information collections. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (PBGC) is requesting that 

the Office of Management and Budget 

(OMB) approve, under the Paperwork 

Reduction Act, collections of 

information under PBGC’s regulation on 

Reportable Events and Certain Other 

Notification Requirements with 

modifications. This notice informs the 

public of PBGC’s request and solicits 

public comment on the collections. 

DATES: Comments must be submitted on 

or before July 14, 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 https://

www.pbgc.gov/prac/laws-andregulation/federal-register-notices-openfor-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; 

faxing a request to 202–326–4042; or, 

calling 202–326–4040 during normal 

business hours (TTY users may call the 

Federal Relay Service toll-free at 800– 

877–8339 and ask to be connected to 

202–326–4040). The Disclosure Division 

will email, fax, or mail the information 

to you, as you request. 

FOR FURTHER INFORMATION CONTACT: 

Stephanie Cibinic, Deputy Assistant 

General Counsel for Regulatory Affairs 

(cibinic.stephanie@pbgc.gov; 202–229– 

6352), Office of the General Counsel, 

Pension Benefit Guaranty Corporation, 

1200 K Street NW, Washington, DC 

20005–4026. TTY users may call the 

Federal relay service toll-free at 1–800– 

877–8339 and ask to be connected to 

202–229–6352. 

SUPPLEMENTARY INFORMATION: Section 

4043 of the Employee Retirement 

Income Security Act of 1974 (ERISA) 

requires plan administrators and plan 

sponsors to report certain plan and 

employer events to PBGC. The reporting 

requirements give PBGC notice of events 

that indicate plan or employer financial 

problems. PBGC uses the information 

provided in determining what, if any, 

action it needs to take. For example, 

PBGC might need to institute 

proceedings to terminate a plan (placing 

it in trusteeship) under section 4042 of 

ERISA to ensure the continued payment 

of benefits to plan participants and their 

beneficiaries or to prevent unreasonable 

increases in PBGC’s losses. 

The provisions of section 4043 of 

ERISA have been implemented in 

PBGC’s regulation on Reportable Events 

and Certain Other Notification 

Requirements (29 CFR part 4043). 

Form 10 

Subparts B and C of the regulation 

deal with reportable events. PBGC has 

issued Forms 10 and 10-Advance and 

related instructions under subparts B 

and C (approved under OMB control 

number 1212–0013). PBGC is modifying 

the Form 10 for the ‘‘Failure to make 

required contributions’’ reportable event 

to provide that if payment was made to 

satisfy a missed contribution, the filer 

must submit documentation of that 

payment, e.g., a copy of the cancelled 

check or wire transfer, etc. 

Documentation is needed to give 

evidence that the missed contribution 

was made up and no risk to the plan 

remains before PBGC closes the event. 

PBGC estimates that it will receive 

573 reportable event notices per year 

under subparts B and C of the reportable 

events regulation using Forms 10 and 

10-Advance and that the average annual 

burden of this collection of information 

is 1,800 hours and $426,885. 

Form 200 

Section 303(k) of the Employee 

Retirement Income Security Act of 1974 

(ERISA) and section 430(k) of the 

Internal Revenue Code of 1986 (Code) 

impose a lien in favor of an 

underfunded single-employer plan that 

is covered by PBGC’s termination 

insurance program if (1) any person fails 

to make a required payment when due, 

and (2) the unpaid balance of that 

payment (including interest), when 

added to the aggregate unpaid balance 

of all preceding payments for which 

payment was not made when due 

(including interest), exceeds $1 million. 

(For this purpose, a plan is underfunded 

if its funding target attainment 

percentage is less than 100 percent.) The 

lien is upon all property and rights to 

property belonging to the person or 

persons that are liable for required 

contributions (i.e., a contributing 

sponsor and each member of the 

controlled group of which that 

contributing sponsor is a member). 

Only PBGC (or, at its direction, the 

plan’s contributing sponsor or a member 

of the same controlled group) may 

perfect and enforce this lien. ERISA and 

the Code require persons that fail to 

make payments to notify PBGC within 

10 days of the due date whenever there 

is a failure to make a required payment 

and the total of the unpaid balances 

(including interest) exceeds $1 million. 

PBGC Form 200, Notice of Failure to 

Make Required Contributions, and 

related instructions implement the 

statutory notification requirement. 

Submission of Form 200 is required by 

29 CFR 4043.81 (Subpart D of PBGC’s 

regulation on Reportable Events and 

Other Notification Requirements, 29 

CFR part 4043). PBGC currently requires 

filers to report the due date of the 

required payment that triggered the 

notification to PBGC and to calculate 

the cumulative amount of unpaid 

balances. PBGC is modifying the form to 

include a separate field showing the 

payment amount that triggered the 

notification in order to better track 

missed contributions and identify the 

amount by which liens associated with 

missed contributions must be updated. 

PBGC estimates that it will receive 88 

Form 200 filings per year and that the 

average annual burden of this collection 

of information is 88 hours and $63,800. 

Method of Filing 

PBGC’s reportable events and certain 

other notification requirements 

regulation (29 CFR part 4043) provides 

that reportable event notices required 

under this part must be filed 

electronically in accordance with the 

instructions posted on PBGC’s website. 

Those instructions currently provide 

two options for electronic filing: 

• Using the 4043 module of PBGC’s efiling portal, or 

• Emailing a completed form and any 

required attachments to postevent.report@pbgc.gov. 

PBGC’s e-filing portal, which has been 

available since 2016, offers a secure 

application for submitting Form 200 and 

Form 10 and 10-Advance information. 

The e-filing portal allows filers to 

review filings and generate a list of 

omissions and inconsistencies prior to 

submission to ensure completeness; 

save a partially completed filing; modify 

information any time prior to 

submission; pre-populate a filing with 

data from a previously submitted filing; 

route the filing as needed to facilitate ecertifications; and review prior filings 

submitted via the e-filing portal. PBGC 

is eliminating the email option for 

filings due after September 30, 2021. In 

other words, starting in October 2021, 

these filings would be submitted via 

PBGC’s e-filing portal. 

PBGC also is making other editorial 

changes to the forms and instructions in 

these collections. 

OMB approval of the information 

collection under control number 1212– 


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31542 Federal Register / Vol. 86, No. 112 / Monday, June 14, 2021 / Notices 

1See Docket No. RM2018–3, Order Adopting 

Final Rules Relating to Non-Public Information, 

June 27, 2018, Attachment A at 19–22 (Order No. 

4679). 

0013 expires March 31, 2023, and of the 

information collection under control 

number 1212–0041 expires February 28, 

2022. On November 5, 2019, PBGC 

published in the Federal Register (at 84 

FR 59660) a notice informing the public 

of its intent to request approval of 

modifications to these currentlyapproved information collections. No 

comments were received. PBGC is 

requesting that OMB extend its approval 

of these information collections for 

three years, with modifications. 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. 

Issued in Washington, DC. 

Stephanie Cibinic, 

Deputy Assistant General Counsel for 

Regulatory Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2021–12427 Filed 6–11–21; 8:45 am] 

BILLING CODE 7709–02–P 

POSTAL REGULATORY COMMISSION 

[Docket Nos. MC2021–99 and CP2021–102] 

New Postal Products 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is noticing a 

recent Postal Service filing for the 

Commission’s consideration concerning 

a negotiated service agreement. This 

notice informs the public of the filing, 

invites public comment, and takes other 

administrative steps. 

DATES: Comments are due: June 16, 

2021. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http://

www.prc.gov. Those who cannot submit 

comments electronically should contact 

the person identified in the FOR FURTHER

INFORMATION CONTACT section by 

telephone for advice on filing 

alternatives. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Introduction 

II. Docketed Proceeding(s) 

I. Introduction 

The Commission gives notice that the 

Postal Service filed request(s) for the 

Commission to consider matters related 

to negotiated service agreement(s). The 

request(s) may propose the addition or 

removal of a negotiated service 

agreement from the market dominant or 

the competitive product list, or the 

modification of an existing product 

currently appearing on the market 

dominant or the competitive product 

list. 

Section II identifies the docket 

number(s) associated with each Postal 

Service request, the title of each Postal 

Service request, the request’s acceptance 

date, and the authority cited by the 

Postal Service for each request. For each 

request, the Commission appoints an 

officer of the Commission to represent 

the interests of the general public in the 

proceeding, pursuant to 39 U.S.C. 505 

(Public Representative). Section II also 

establishes comment deadline(s) 

pertaining to each request. 

The public portions of the Postal 

Service’s request(s) can be accessed via 

the Commission’s website (http://

www.prc.gov). Non-public portions of 

the Postal Service’s request(s), if any, 

can be accessed through compliance 

with the requirements of 39 CFR 

3011.301.1

The Commission invites comments on 

whether the Postal Service’s request(s) 

in the captioned docket(s) are consistent 

with the policies of title 39. For 

request(s) that the Postal Service states 

concern market dominant product(s), 

applicable statutory and regulatory 

requirements include 39 U.S.C. 3622, 39 

U.S.C. 3642, 39 CFR part 3030, and 39 

CFR part 3040, subpart B. For request(s) 

that the Postal Service states concern 

competitive product(s), applicable 

statutory and regulatory requirements 

include 39 U.S.C. 3632, 39 U.S.C. 3633, 

39 U.S.C. 3642, 39 CFR part 3035, and 

39 CFR part 3040, subpart B. Comment 

deadline(s) for each request appear in 

section II. 

II. Docketed Proceeding(s) 

1. Docket No(s).: MC2021–99 and 

CP2021–102; Filing Title: USPS Request 

to Add Priority Mail Contract 706 to 

Competitive Product List and Notice of 

Filing Materials Under Seal; Filing 

Acceptance Date: June 8, 2021; Filing 

Authority: 39 U.S.C. 3642, 39 CFR 

3040.130 through 3040.135, and 39 CFR 

3035.105; Public Representative: 

Kenneth R. Moeller; Comments Due: 

June 16, 2021. 

This Notice will be published in the 

Federal Register. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2021–12408 Filed 6–11–21; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2:00 p.m. on Thursday, 

June 17, 2021. 

PLACE: The meeting will be held via 

remote means and/or at the 

Commission’s headquarters, 100 F 

Street NE, Washington, DC 20549. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

In the event that the time, date, or 

location of this meeting changes, an 

announcement of the change, along with 

the new time, date, and/or place of the 

meeting will be posted on the 

Commission’s website at https://

www.sec.gov. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) 

and (10) and 17 CFR 200.402(a)(3), 

(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and 

(a)(10), permit consideration of the 

scheduled matters at the closed meeting. 

The subject matter of the closed 

meeting will consist of the following 

topics: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

Resolution of litigation claims; and 

Other matters relating to examinations 

and enforcement proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting agenda items that 

may consist of adjudicatory, 

examination, litigation, or regulatory 

matters. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 


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