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OMB Control No: 1212-0074	ICR Reference No: 202310-1212-005
Status: Historical Active	Previous ICR Reference No: 202309-1212-001
Agency/Subagency: PBGC	Agency Tracking No:
Title: Special Financial Assistance by PBGC
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 11/01/2023
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/01/2023
	Date Received in OIRA: 11/01/2023
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2024	6 Months From Approved	07/31/2026
Responses	210	0	210
Time Burden (Hours)	997	0	938
Cost Burden (Dollars)	2,366,400	0	2,248,400

Abstract: Under section 4262 of the Employee Retirement Income Security Act of 1974 (ERISA) PBGC administers a Special Financial Assistance program for financially troubled multiemployer plans. The statute sets forth the requirements for this program, including specifying which plans are eligible to apply, the cutoff date for applications, actuarial assumptions, determinations on applications, restrictions and conditions on plans that receive SFA, and the requirements for certain plans with suspended benefits to reinstate those benefits and provide make-up payments to restore previously suspended benefits. Unlike financial assistance under section 4261 of ERISA, which is provided in the form of a loan and in periodic payments, a plan receiving SFA under section 4262 has no obligation to repay SFA. This information collection contains the requirements necessary to implement the SFA program and to provide proper stewardship of taxpayer funds. These information requirements include: • An application for SFA (including calculating the amount of SFA) that the plan sponsor of an eligible multiemployer plan must file with PBGC to receive payment of SFA. PBGC needs the information in the application to review a plan’s eligibility for SFA, priority group status (if applicable), and amount of requested SFA. • A lock-in application that plan may, but is not required, to use to lock in its base data. PBGC needs the information in the lock-in application to garner a plan's base data when the plan files a full application for SFA> • An Annual Statement of Compliance (with the restrictions and conditions under section 4262 of ERISA and 29 CFR part 4262) that a plan that has received SFA is required to file with PBGC. PBGC needs the information in the Annual Statement of Compliance to ensure that a plan is compliant with the imposed restrictions and conditions. • A notice of reinstatement that a plan sponsor of a plan with benefits that were suspended under sections 305(e)(9) or 4245(a) of ERISA must issue to participants and beneficiaries whose benefits are reinstated. Participants and beneficiaries need the notice of reinstatement to better understand the calculation and timing of their reinstated benefits and, if applicable, make-up payments. • A request for a determination from PBGC for approval for an exception under certain circumstances for SFA conditions under § 4262.16 relating to reductions in contributions, transfers or mergers, benefit increases, and settlement of withdrawal liability. PBGC needs the information required for a request for determination to determine whether to approve an exception from the specified condition.

Emergency Justfication: Under section 4262 of the Employee Retirement Income Security Act of 1974 (ERISA) and 29 CFR part 4262, the Pension Benefit Guaranty Corporation (PBGC) provides special financial assistance to certain financially troubled multiemployer pension plans. To apply for SFA, a plan sponsor of an eligible plan must file an application with PBGC and include information about the plan, plan documentation, and actuarial information, as specified in PBGC’s SFA regulation – 29 CFR part 4262 – and the application instructions. PBGC uses the required actuarial and financial information and documentation to verify a plan’s eligibility and requested amount of SFA. This ICR is approved under OMB control number 1212-0074 (expires July 31, 2026). The current instructions for the SFA application require the plan sponsor to submit census data for terminated vested participants in the plan. PBGC uses this data to conduct an independent death search using the Social Security Administration’s (SSA) Full Death Master File (DMF), to which PBGC has access, as a means to help plans identify and remove any deceased terminated vested participants from the census data used to prepare their SFA applications. PBGC’s Office of Inspector General has recommended to further expand the independent death audit to all participant categories, rather than just terminated vested participants. PBGC has agreed to implement this change, which must be done quickly because under section 4262(f) of ERISA plan sponsors may submit initial applications for SFA only until December 31, 2025, and revised applications for SFA only until December 31, 2026. Accordingly, PBGC is requesting emergency approval to amend the application instructions to require census data of all participant categories. The information from the independent death audit will further assist plans in identifying deceased participants and increase the accuracy of census data used for purposes of making SFA projections.

Authorizing Statute(s): PL: Pub.L. 117 - 2 9704 Name of Law: American Rescue Plan Act of 2021

Citations for New Statutory Requirements: US Code: 29 USC 1432 Name of Law: American Rescue Plan Act of 2021

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 5

IC Title	Form No.	Form Name
Annual Statement of Compliance	SFA 300
Application for Special Financial Assistance	SFA Application Amendment Cover Letter, SFA Filing Instructions, Addendum A, SFA 202, SFA 201, SFA 204-B, SFA 205-A, SFA Filing Instructions, Addendum D, SFA 206-A, SFA 207, SFA 208, SFA 209, PBGC E-filing Portal, SFA 204-A, SFA 205-B, SFA 206-B, Model Plan Amendment, Compliance, Model Plan Amendment, Reinstatement, Model Certification, SFA 100-Supplemented , SFA Filing Instructions, Addendum C, SFA 203, SFA 100, SFA 210	, , , , , , , , , , , , , , , , , , , , ,
Lock-In Application	SFA Lock-In Application
Notice of reinstatement	SFA Filing Instructions, Addendum B
Requests for determination

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	210	210	0
Annual Time Burden (Hours)	997	938	59
Annual Cost Burden (Dollars)	2,366,400	2,248,400	118,000

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The hourly and cost burdens have increased due to the new requirement to submit with the application census data for participants in all categories that were included in SFA projections. The change to the SFA application instructions increased the aggregate hour burden by 59 hours (1 hour x 59 plans) and the cost burden by $108,000 ($2,000 x 59 plans).

Annual Cost to Federal Government: $15,170,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. Yes

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? No

Agency Contact: Melissa Rifkin 202 326-4400 rifkin.melissa@pbgc.gov

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