View Information Collection Request (ICR) Package
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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:
1212-0013
ICR Reference No:
201302-1212-001
Status:
Historical Inactive
Previous ICR Reference No:
201210-1212-001
Agency/Subagency:
PBGC
Agency Tracking No:
Title:
Reportable Events
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
09/26/2013
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/03/2013
Terms of Clearance:
Comment Filed.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2015
36 Months From Approved
05/31/2015
Responses
1,026
0
1,026
Time Burden (Hours)
5,400
0
5,400
Cost Burden (Dollars)
821,826
0
821,826
Abstract:
Under PBGC regulations implementing 29 CFR Part 4043 of ERISA, plan administrators and contributing sponsors must notify PBGC of certain reportable events. The reporting requirements give PBGC timely notice of events that indicate plan or contributing sponsor financial problems. PBGC uses the information provided in determining what, if any, action it needs to take.
Authorizing Statute(s):
US Code:
29 USC 1343
Name of Law: ERISA
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1212-AB06
Proposed rulemaking
78 FR 20039
04/03/2013
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
78 FR 20039
04/03/2013
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
Reportable Events
10, 10-ADV
Post-Event Notice of Reportable Events
,
Advance Notice of Reportable Events
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The changes in burden and cost are the result of an increase in the number of expected filings based upon the proposed rule changes, anticipated changes in economic conditions, and a revised estimate (based on a small survey of practitioners) in the hourly contracting rate from $350 for all plans to $320 for large plans and $130 for small plans. In addition, in light of the small number of advance-report filings, PBGC combined the data for post-event reporting (the Form 10) and advance reporting (the Form-10 Advance).
Annual Cost to Federal Government:
$128,030
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:
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:
04/03/2013
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