In accordance
with 5 CFR 1320, the information collection is not approved at this
time. Prior to publication of the final rule, the agency should
provide to OMB a summary of all comments received on the proposed
information collection and identify any changes made in response to
these comments.
Inventory as of this Action
Requested
Previously Approved
05/31/2022
36 Months From Approved
05/31/2022
560
0
560
532
0
532
12,871,040
0
12,871,040
ERISA section 4010 requires the annual
reporting of actuarial and financial information by controlled
groups that sponsor pension plans that have significant
underfunding. PBGC uses this information to detect and monitor
financial problems with the controlled groups and to respond
quickly when it learns that a controlled group intends to engage in
a transaction that may reduce the assets available to pay plan
liabilities.
PBGC’s instructions to the 4010
module for the e-filing portal and the module itself would be
updated, as necessary or helpful, to reflect the clarifications
that would be made by the proposed rule. The clarifications
incorporated would replace or augment existing language but would
not create additional filing burden. However, PBGC estimates the
proposed rule would reduce filer burden by eliminating the
requirement of § 4010.9(b)(2) to provide the revenues, operating
income, and net assets for each controlled group member if a filer
is submitting consolidated financial information.
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:
(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;
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.