Locating and Paying Participants

Forms and Documents

Document Name	Status
Form Form 701 Locating and Paying Participants Form and Instruction	Modified
Supporting statement paying and locating participants 2015 Final.docx Supporting Statement A	2015-12-15

IC Document Collections

IC ID	Document Title	Status
13603	Locating and Paying Participants Form and Instruction	Modified

ICR Details

OMB Control No: 1212-0055	ICR Reference No: 201512-1212-001
Status: Historical Active	Previous ICR Reference No: 201209-1212-003
Agency/Subagency: PBGC	Agency Tracking No:
Title: Locating and Paying Participants
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/28/2016
	Date Received in OIRA: 12/31/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2019	36 Months From Approved	03/31/2016
Responses	54,310	0	102,050
Time Burden (Hours)	126,090	0	87,500
Cost Burden (Dollars)	1,360	0	2,270

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Abstract: This collection consists of information participants and beneficiaries are asked to provide in connection with an application for benefits or request for a benefit estimate. In addition, in some instances, as part of a search for participants and beneficiaries who may be entitled to benefits, the PBGC requests individuals to provide identifying information that the individual would provide as part of an initial contact with the PBGC.

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Authorizing Statute(s): PL: Pub.L. 109 - 280 410 Name of Law: Pension Protection Act of 2006
   US Code: 29 USC 1322, 1350 Name of Law: Employee Retirement Security Act (ERISA)
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 280 410 Name of Law: Pension Protection Act of 2006

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 64454	10/23/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 81378	12/29/2015
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Locating and Paying Participants	Form 704, Form 720, Form 707, Form 708, Form 709, Form 710, Form 714, Form 716, Form 716A, Form 721, Form 721T, Form 722, Form 717, Form 701, Form 702, Form 703, Form 703MP, Form 700, Form 705, Form 706, Form 711, Form 712, Form 713, Form 718, Form 719, Form 720CD, Form 720MP	Payee Information ,   General Information ,   Application for Elective Lump-Sum Payment ,   Application for Elective Lump-Sum Payment ,   Report of Earnings and Social Security Disability Information ,   Participant Application for Pension Benefits ,   Beneficiary Application for Pension Benefits ,   Beneficiary Application for Pension Benefits ,   Designation of Beneficiary for Benefits Owed at Death ,   Designation of Beneficiary ,   Plan Participant Information ,   Application for Direct Deposit ,   Change of Beneficiary for Certain Continuous Benefits Only ,   Uniformed Services Information Form ,   Election fot Withdraw Employee Contributions ,   Withdrawal of Employee Contributiions ,   Certification of Social Security Disability ,   Certificate of Pension Plan Disability Status ,   Installment Payment Agreement ,   Election to Withhold Federal Income Tax from Periodic Payment ,   Application for Lump-Sum Payment ,   Application for Lump-Sum Payment ,   Application for Lump-Sum Payment ,   Application for Eligible Rollover Payment - Non-Spouse Beneficiary ,   Tax Election for Payment Not Eligible for Rollover ,   Financial Statement of Debtor ,   Benefit Inquiry Questionnaire

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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	54,310	102,050	0	0	-47,740	0
Annual Time Burden (Hours)	126,090	87,500	0	0	38,590	0
Annual Cost Burden (Dollars)	1,360	2,270	0	0	-910	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: PBGC revised its estimates of the number of number of forms and applications expected to be filed from 102,050 to 54,310, resulting in a decrease in the hourly aggregate burden on participants, and a decrease in the aggregate cost burden since fewer forms and applications are expected to be filed. PBGC included in its hourly burden estimate an estimate of the amount of time that participants in trusteed plans will spend having their inquiries handled by PBGC. This added to the aggregate hourly burden estimate for participants.

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Annual Cost to Federal Government: $5,005,600

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

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Common Form ICR:  No

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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: 12/31/2015

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