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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:
1212-0021
ICR Reference No:
201101-1212-016
Status:
Historical Active
Previous ICR Reference No:
200802-1212-002
Agency/Subagency:
PBGC
Agency Tracking No:
Title:
Variances for Sale of Assets (29 CFR Part 4204)
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
03/21/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/01/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2014
36 Months From Approved
04/30/2011
Responses
23
0
24
Time Burden (Hours)
2
0
3
Cost Burden (Dollars)
5,513
0
6,210
Abstract:
An employer selling assets of a business covered by a multiemployer pension plan may have liability to the plan unless certain statutory rules are followed. The selling and buying empoyers may submit information prescribed by this regulation to PBGC or the plan with a request for a waiver of those rules. The information is needed to determine whether a waiver is appropriate.
Authorizing Statute(s):
US Code:
29 USC 1384
Name of Law: ERISA
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
75 FR 70045
11/16/2010
30-day Notice:
Federal Register Citation:
Citation Date:
76 FR 5220
01/28/2011
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
Variances for Sale of Assets (29 CFR Part 4204)
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
23
24
0
0
-1
0
Annual Time Burden (Hours)
2
3
0
0
-1
0
Annual Cost Burden (Dollars)
5,513
6,210
0
1
-698
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:
The cost burden has decreased from $6,213 to $5,513 and the hour burden has descreased from 3 to 2 hours due to a decrease in the estimated number of variance requests per year from 2 to 1.
Annual Cost to Federal Government:
$1,070
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]?
No
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:
Donald McCabe 202-326-4223 ext. 3872 mccabe.donald@pbgc.gov
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:
02/01/2011
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