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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1212-0009
ICR Reference No:
201006-1212-001
Status:
Historical Active
Previous ICR Reference No:
200910-1212-003
Agency/Subagency:
PBGC
Agency Tracking No:
Title:
Payment of Premiums (29 CFR part 4007)
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
06/15/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/07/2010
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2011
02/28/2011
02/28/2011
Responses
34,300
0
34,300
Time Burden (Hours)
8,999
0
8,999
Cost Burden (Dollars)
47,036,605
0
47,036,605
Abstract:
Administrators of PBGC-insured pension plans file with PBGC premium information and premium payments required under 29 USC 1307 and 29 CFR Part 4007, which also requires retention and production of records necessary to support premium filings. The information identifies payers and lets PBGC verify premium computations and perform premium audits. It also helps PBGC estimate its exposure if plans terminate, track movement of participants and assets, determine whether new plans are being created, and update its insured-plan inventory. The retained records facilitate audits.
Authorizing Statute(s):
US Code:
29 USC 1302(b)(3), 1303(a),1306, 1307
Name of Law: ERISA
Citations for New Statutory Requirements:
US Code: 29 USC 1306 Name of Law: Pension Protection Act of 2006
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1212-AB11
Final or interim final rulemaking
72 FR 30308
05/31/2007
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Payment of Premiums (29 CFR part 4007)
2010 Form 1-C; 2010 Form 1-ES
2010 Comprehensive Premium Filing; 2010 Estimated Flat-rate Premium Filing
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
34,300
34,300
0
0
0
0
Annual Time Burden (Hours)
8,999
8,999
0
0
0
0
Annual Cost Burden (Dollars)
47,036,605
47,036,605
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
Burden increased because of changes in regulation to implement statutory changes.
Annual Cost to Federal Government:
$6,500,000
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Catherine Klion 202 326-4024
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
06/07/2010
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