[Federal Register Volume 61, Number 226 (Thursday, November 21, 1996)]
[Notices]
[Page 59252]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-29881]
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PENSION BENEFIT GUARANTY CORPORATION
Request for a Collection of Information Under the Paperwork
Reduction Act; Locating and Paying Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Submission for OMB emergency review; comment request.
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SUMMARY: The Pension Benefit Guaranty Corporation has requested that
the Office of Management and Budget approve a collection of information
under the Paperwork Reduction Act. The information collection is needed
to locate and pay participants and beneficiaries who are entitled to
pension benefits under terminated defined benefit pension plans.
DATES: The PBGC has requested that OMB approve this request by November
29, 1996.
ADDRESSES: All written comments should be addressed to: Office of
Information and Regulatory Affairs, OMB, Attention: Desk Officer for
the Pension Benefit Guaranty Corporation, 725 17th Street, NW., Room
10235, Washington, DC 20503. The request for approval will be available
for public inspection at the PBGC Communications and Public Affairs
Department, suite 240, 1200 K Street, NW., Washington, DC 20005,
between the hours of 9 a.m. and 4 p.m.
FOR FURTHER INFORMATION CONTACT: Harold J. Ashner, Assistant General
Counsel, Office of the General Counsel, Suite 340, 1200 K Street, NW.,
Washington, DC 20005, 202-326-4024 (202-326-4179 for TTY and TDD).
(These are not toll-free numbers.)
SUPPLEMENTARY INFORMATION: The Paperwork Reduction Act of 1995 (44
U.S.C. Chapter 35) establishes policies and procedures for controlling
the paperwork burdens imposed by Federal agencies on the public. The
Act vests the OMB with regulatory responsibility over these burdens,
and OMB has promulgated rules on the clearance of collections of
information by Federal agencies.
The PBGC is requesting OMB approval of a collection of information
needed to locate and pay participants and beneficiaries who may be
entitled to pension benefits under a defined benefit plan that has
terminated. The information consists of identifying information that
the individual would provide as part of an initial contact with the
PBGC and additional information he or she would provide in connection
with any application for benefits.
The PBGC estimates that up to 8,000 individuals will provide the
PBGC with identifying information as part of an initial contact and
that the associated burden is 2,000 hours (15 minutes per individual).
The PBGC further estimates that it will request that up to 1,600 of
these individuals submit applications for benefits and that the
associated burden is 950 hours (approximately 36 minutes per
individual). Thus, the total estimated burden associated with this
collection of information is 2,950 hours.
The PBGC solicits comments to:
(i) Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
(ii) Evaluate the accuracy of the agency's estimate of the burden
of the proposed collection of information, including the validity of
the methodology and assumptions used;
(iii) Enhance the quality, utility, and clarity of the information
to be collected; and
(iv) Minimize the burden of the collection of information on those
who are to respond, including through the use of appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., permitting electronic
submission of responses.
The PBGC has requested that OMB approve this collection on an
emergency basis by November 29, 1996, so that it can promptly initiate
a search effort, with a view toward locating individuals entitled to
benefits as soon as possible.
Issued at Washington, D.C., this 19th day of November, 1996.
Martin Slate,
Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 96-29881 Filed 11-20-96; 8:45 am]
BILLING CODE 7708-01-P
