Reportable Events

Forms and Documents

Document Name	Status
Form 10 Reportable Events Form	Modified
Form 10 SptgStmt (2009 revisions) to OMB 11_09.pdf Supporting Statement A	2009-11-24

IC Document Collections

IC ID	Document Title	Status
13522	Reportable Events Form	Modified

ICR Details

OMB Control No: 1212-0013	ICR Reference No: 200911-1212-002
Status: Historical Inactive	Previous ICR Reference No: 200910-1212-001
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: 12/30/2009
	Date Received in OIRA: 11/25/2009
Terms of Clearance: The revised portions of this ICR associated with the PBGC proposed rule on reportable events are not approved at this time. PBGC will resubmit the request at the final rule stage after considering public comment. The existing approval continues.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2012	36 Months From Approved	03/31/2012
Responses	637	0	637
Time Burden (Hours)	2,676	0	2,676
Cost Burden (Dollars)	936,600	0	936,600

---

Abstract: Under PBGC regulations implementing 29 CFR Part 4043 of ERISA, plan administrators and contributing sponsors must notify the PBGC of certain reportable events. The reporting requirements give the PBGC timely notice of events that indicate plan or contributing sponsor financial problems. The 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	74 FR 61248	11/23/2009

---

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
Reportable Events	Form 10-Advance, 10	Post-Event Notice of Reportable Events ,   Advance Notice of Reportable Event

---

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 change in burden reflects changes in PBGC’s estimate of the number of filings, the amount of time spent on each filing, and (for advance reporting) the split between work performed in-house and by contractors. PBGC is proposing to eliminate most automatic waivers and to add two new reportable events. In addition, plan funding requirements have become more stringent and the economic downturn has led to reductions in plan funding levels. Accordingly, PBGC is projecting that, in comparison to previous estimates, the annual number of post-event notice filings and the annual number of advance notice filings will be greater. PBGC has also reviewed its estimates of the amount of time required to prepare filings and the allocation of that time between in-house employees of the filer and outside contractors. PBGC has concluded that its previous estimate for a post-event notice is too low. Advance notices call for more or less the same documentation as post-event notices, but because the event being reported has not yet occurred, some additional work is required to describe the event. Thus PBGC believes that a slihgtly lower estimate per advance notice is more reasonable than the estiamteit previously used. And PBGC now believes that the burden for advance notice preparation is probably split two-thirds in-house and one-third outside (rather than half-and-half).

---

Annual Cost to Federal Government: $742,000

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? Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

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

---

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: 11/25/2009

---