Federal Register / Vol. 75, No. 172 / Tuesday, September 7, 2010 / Notices 54401 

SUMMARY: Pension Benefit Guaranty 

Corporation (PBGC) is requesting that 

the Office of Management and Budget 

(OMB) extend approval, under the 

Paperwork Reduction Act, of the 

collection of information for the 

termination premium under its 

regulation on Payment of Premiums (29 

CFR Part 4007) (OMB control number 

1212–0064; expires October 31, 2010), 

without change. This notice informs the 

public of PBGC’s request and solicits 

public comment on the collection of 

information. 

DATES: Comments should be submitted 

by October 7, 2010. 

ADDRESSES: Comments should be sent to 

the Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Attention: Desk Officer for 

Pension Benefit Guaranty Corporation, 

via electronic mail at 

OIRA_DOCKET@omb.eop.gov or by fax 

to 202–395–6974. 

The collection of information (Form T 

and instructions) and PBGC’s premium 

payment regulation may be accessed on 

PBGC’s Web site at http:// 

www.pbgc.gov. Copies of the collection 

of information and PBGC’s request 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, or by visiting the Disclosure 

Division or calling 202–326–4040 

during normal business hours. (TTY and 

TDD users may call the Federal relay 

service toll-free at 1–800–877–8339 and 

ask to be connected to 202–326–4040.) 

FOR FURTHER INFORMATION CONTACT: 

Deborah C. Murphy, Staff Attorney, 

Legislative and Regulatory Department, 

Pension Benefit Guaranty Corporation, 

1200 K Street, NW., Washington, DC 

20005–4026, 202–326–4024. (TTY and 

TDD users may call the Federal relay 

service toll-free at 1–800–877–8339 and 

ask to be connected to 202–326–4024.) 

SUPPLEMENTARY INFORMATION: Pension 

Benefit Guaranty Corporation (PBGC) 

administers the pension plan 

termination insurance program under 

title IV of the Employee Retirement 

Income Security Act of 1974 (ERISA). 

Section 4006(a)(7) of ERISA provides for 

a ‘‘termination premium’’ (in addition to 

the flat-rate and variable-rate premiums 

under section 4006(a)(3)(A) and (E) of 

ERISA) that is payable for three years 

following certain distress and 

involuntary plan terminations. PBGC’s 

regulations on Premium Rates (29 CFR 

part 4006) and Payment of Premiums 

(29 CFR part 4007) implement the 

termination premium. Sections 4007.3 

and 4007.13(b) of the premium payment 

regulation require the filing of 

termination premium information and 

payments with PBGC. PBGC has 

promulgated Form T and instructions 

for paying the termination premium. 

In general, the termination premium 

applies where a single-employer plan 

terminates in a distress termination 

under ERISA section 4041(c) (unless 

contributing sponsors and controlled 

group members meet the bankruptcy 

liquidation requirements of ERISA 

section 4041(c)(2)(B)(i)) or in an 

involuntary termination under ERISA 

section 4042, and the termination date 

under section 4048 of ERISA is after 

2005. The termination premium does 

not apply in certain cases where 

termination occurs during a bankruptcy 

proceeding filed before October 18, 

2005. 

The termination premium is payable 

for three years. The same amount is 

payable each year. The amount of each 

payment is based on the number of 

participants in the plan as of the day 

before the termination date. In general, 

the amount of each payment is equal to 

$1,250 times the number of participants. 

However, the rate is increased from 

$1,250 to $2,500 in certain cases 

involving commercial airline or airline 

catering service plans. The termination 

premium is due on the 30th day of each 

of three consecutive 12-month periods. 

The first 12-month period generally 

begins shortly after the termination date 

or after the conclusion of bankruptcy 

proceedings in certain cases. 

Sections 4007.3 and 4007.13(b) of the 

premium payment regulation require 

the filing of termination premiums and 

related information. A filing must be 

made by a person liable for the 

termination premium. The persons 

liable for the termination premium are 

contributing sponsors and members of 

their controlled groups, determined on 

the day before the plan termination 

date. Interest on late termination 

premiums is charged at the rate imposed 

under section 6601(a) of the Internal 

Revenue Code, compounded daily, from 

the due date to the payment date. 

Penalties based on facts and 

circumstances may be assessed both for 

failure to timely pay the termination 

premium and for failure to timely file 

required related information and may be 

waived in appropriate circumstances. A 

penalty for late payment will not exceed 

the amount of termination premium 

paid late. Section 4007.10 of the 

premium payment regulation requires 

the retention of records supporting or 

validating the computation of premiums 

paid and requires that the records be 

made available to PBGC. 

OMB has approved the termination 

premium collection of information 

(Form T and instructions) under control 

number 1212–0064 through October 31, 

2010. PBGC is requesting that OMB 

extend approval of this collection of 

information for three years, without 

change. (In connection with this request 

for extension of OMB approval, Form T 

has been reformatted without 

substantive change, and current burden 

data and instructions for the hearing 

impaired have been added to the Form 

T instructions.) 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 assumes that termination 

premium filings will be made with 

respect to one termination per year. 

Accordingly, PBGC assumes that it will 

receive each year an average of about 

one first-year, one second-year, and one 

third-year termination premium filing 

from an average of about three plan 

sponsor groups. Thus, PBGC estimates 

that the total annual burden of the 

collection of information will be about 

two-and-a-half hours and $16,625. 

Issued in Washington, DC, August 30, 

2010. 

John H. Hanley, 

Director, Legislative and Regulatory 

Department, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2010–22222 Filed 9–3–10; 8:45 am] 

BILLING CODE 7709–01–P 

POSTAL REGULATORY COMMISSION 

[Docket Nos. CP2010–102 and CP2010–103; 

Order No. 529] 

New Postal Product 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is noticing a 

recently–filed Postal Service request to 

add two Global Expedited Package 

Services 3 contracts to the competitive 

product list. This notice addresses 

procedural steps associated with the 

filing. 

DATES: Comments are due: September 8, 

2010. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at 

http://www.prc.gov. Commenters who 

cannot submit their views electronically 

should contact the person identified in 

the FOR FURTHER INFORMATION CONTACT

section by telephone for advice on 

alternatives to electronic filing. 

FOR FURTHER INFORMATION CONTACT: 

Stephen L. Sharfman, General Counsel, 


wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
54402 Federal Register / Vol. 75, No. 172 / Tuesday, September 7, 2010 / Notices 

1Notice of United States Postal Service of Filing 

Two Functionally Equivalent Global Expedited 

Package Services 3 Negotiated Service Agreements 

and Application For Non–Public Treatment of 

Materials Filed Under Seal, August 30, 2010 

(Notice). 

2 Docket No. CP2009–50, Order Granting 

Clarification and Adding Global Expedited Package 

Services 2 to the Competitive Product List, August 

28, 2009 (Order No. 290). 

stephen.sharfman@prc.gov or 202–789– 

6820. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Introduction 

II. Notice of Filing 

III. Ordering Paragraphs 

I. Introduction 

On August 30, 2010, the Postal 

Service filed a notice announcing that it 

has entered into two additional Global 

Expedited Package Services 3 (GEPS 3) 

contracts.1 The Postal Service believes 

the instant contracts are functionally 

equivalent to previously submitted 

GEPS contracts, and are supported by 

Governors’ Decision No. 08–7, attached 

to the Notice and originally filed in 

Docket No. CP2008–4. Id. at 1, 

Attachment 3. The Notice explains that 

Order No. 86, which established GEPS 

1 as a product, also authorized 

functionally equivalent agreements to be 

included within the product, provided 

that they meet the requirements of 39 

U.S.C. 3633. Id. at 2. In Order No. 290, 

the Commission approved the GEPS 2 

product.2 In Order No. 503, the 

Commission approved the GEPS 3 

product. Additionally, the Postal 

Service requested to have the contract in 

Docket No. CP2010–71 serve as the 

baseline contract for future functional 

equivalence analyses of the GEPS 3 

product. 

The instant contracts. The Postal 

Service filed the instant contracts 

pursuant to 39 CFR 3015.5. In addition, 

the Postal Service contends that each 

contract is in accordance with Order No. 

86. The term of each contract is one year 

from the date the Postal Service notifies 

the customer that all necessary 

regulatory approvals have been 

received. Notice at 3. 

In support of its Notice, the Postal 

Service filed four attachments as 

follows: 

• Attachments 1A and 1B—redacted 

copies of the two contracts and 

applicable annexes; 

•Attachments 2A and 2B—certified 

statements required by 39 CFR 

3015.5(c)(2) for each contract; 

• Attachment 3—a redacted copy of 

Governors’ Decision No. 08–7, which 

establishes prices and classifications for 

GEPS contracts, a description of 

applicable GEPS contracts, formulas for 

prices, an analysis of the formulas, and 

certification of the Governors’ vote; and 

• Attachment 4—an application for 

non–public treatment of materials to 

maintain redacted portions of the 

contracts and supporting documents 

under seal. 

The Notice advances reasons why the 

instant GEPS 3 contracts fit within the 

Mail Classification Schedule language 

for GEPS. The Postal Service identifies 

customer–specific information and 

general contract terms that distinguish 

the instant contracts from the baseline 

GEPS 3 agreement. Id. at 4–5. It states 

that the differences, which include price 

variations based on updated costing 

information and volume commitments, 

do not alter the contracts’ functional 

equivalency. Id. at 4. The Postal Service 

asserts that ‘‘[b]ecause the agreements 

incorporate the same cost attributes and 

methodology, the relevant 

characteristics of these two GEPS 

contracts are similar, if not the same, as 

the relevant characteristics of previously 

filed contracts.’’ Id. 

The Postal Service concludes that its 

filings demonstrate that each of the new 

GEPS 3 contracts complies with the 

requirements of 39 U.S.C. 3633 and is 

functionally equivalent to the baseline 

GEPS 3 contract. Therefore, it requests 

that the instant contracts be included 

within the GEPS 3 product. Id. at 5. 

II. Notice of Filing 

The Commission establishes Docket 

Nos. CP2010–102 and CP2010–103 for 

consideration of matters related to the 

contracts identified in the Postal 

Service’s Notice. 

These dockets are addressed on a 

consolidated basis for purposes of this 

order. Filings with respect to a 

particular contract should be filed in 

that docket. 

Interested persons may submit 

comments on whether the Postal 

Service’s contracts are consistent with 

the policies of 39 U.S.C. 3632, 3633, or 

3642. Comments are due no later than 

September 8, 2010. The public portions 

of these filings can be accessed via the 

Commission’s Web site 

(http://www.prc.gov.) 

The Commission appoints Paul L. 

Harrington to serve as Public 

Representative in the captioned 

proceedings. 

III. Ordering Paragraphs 

It is ordered: 

1. The Commission establishes Docket 

Nos. CP2010–102 and CP2010–103 for 

consideration of matters raised by the 

Postal Service’s Notice. 

2. Comments by interested persons in 

these proceedings are due no later than 

September 8, 2010. 

3. Pursuant to 39 U.S.C. 505, Paul L. 

Harrington is appointed to serve as the 

officer of the Commission (Public 

Representative) to represent the 

interests of the general public in these 

proceedings. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Shoshana M. Grove, 

Secretary. 

[FR Doc. 2010–22155 Filed 9–3–10; 8:45 am] 

BILLING CODE 7710–FW–S 

POSTAL REGULATORY COMMISSION 

[Docket No. A2010–6; Order No. 527] 

Post Office Closing 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: This document informs the 

public that an appeal of the closing of 

the Renfro Valley Post Office, Renfro 

Valley, Kentucky 40473, has been filed. 

It identifies preliminary steps and 

provides a procedural schedule. 

Publication of this document will allow 

the Postal Service, petitioner, and others 

to take appropriate action. 

DATES: Deadline for filing administrative 

record: September 9, 2010. See the 

Procedural Schedule for other important 

dates. 

ADDRESSES: Submit filings electronically 

via the Commission’s Filing Online 

system at http://www.prc.gov. Those 

who cannot file electronically should 

contact the person identified in the FOR

FURTHER INFORMATION CONTACT section 

by telephone for advice on alternatives 

to electronic filing. 

FOR FURTHER INFORMATION CONTACT: 

Stephen L. Sharfman, General Counsel, 

stephen.sharfman@prc.gov or 202–789– 

6820. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that pursuant to 39 U.S.C. 

404(d), the Commission has received an 

appeal of the closing of the Renfro 

Valley Post Office, Renfro Valley, 

Kentucky 40473. The appeal, which 

appears to be postmarked August 19, 

2010, was received by the Commission 

on August 25, 2010. The Commission 

hereby institutes a proceeding under 39 

U.S.C. 404(d)(5) and designates the case 

as Docket No. A2010–6 to consider the 

petitioner’s appeal. If the petitioner 

would like to further explain his 

position with supplemental information 


wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1