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.
The Miscellaneous Corrections,
Clarifications, and Improvements final rule reduced burden by
eliminating the requirement to provide specific financial
information (revenues, operating income, and net assets) for each
controlled group member of a filer.
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.