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Federal Register / Vol. 86, No. 8 / Wednesday, January 13, 2021 / Rules and Regulations information requirements as defined by the Paperwork Reduction Act of 1995 as amended. 44 U.S.C. 3501 et seq.
Pursuant to the Congressional Review Act 5 U.S.C. 801 et seq., the Office of Information and Regulatory Affairs designated this rule as not a major rule, as defined by 5 U.S.C. 8042.
List of Subjects in 16 CFR Part 1
Administrative practice and procedure, Penalties, Trade practices.
Text of Amendments For the reasons set forth in the preamble, the Federal Trade Commission amends title 16, chapter I, subchapter A, of the Code of Federal Regulations, as follows:
PART 1GENERAL PROCEDURES
Subpart LCivil Penalty Adjustments Under the Federal Civil Penalties Inflation Adjustment Act of 1990, as Amended 1. The authority citation for part 1, subpart L, continues to read as follows:

U.S.C. 6395a and b, respectively $23,266 and $43,792, respectively;
m Section 621a2 of the Fair Credit Reporting Act, 15 U.S.C.
1681sa2$4,111;
n Section 1115a of the Medicare Prescription Drug Improvement and Modernization Act of 2003, Public Law 108173, as amended by Public Law 115263, 21 U.S.C. 355 note$15,482;
o Section 814a of the Energy Independence and Security Act of 2007, 42 U.S.C. 17304$1,246,249; and p Civil monetary penalties authorized by reference to the Federal Trade Commission Act under any other provision of law within the jurisdiction of the Commissionrefer to the amounts set forth in paragraphs c, d, e and f of this section, as applicable.
By direction of the Commission.
April J. Tabor, Acting Secretary.
FR Doc. 202100483 Filed 11221; 8:45 am BILLING CODE 675001P

Authority: 28 U.S.C. 2461 note.

2. Revise 1.98 to read as follows:

1.98 Adjustment of civil monetary penalty amounts.

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SUPPLEMENTARY INFORMATION:

Executive Summary Purpose of the Regulatory Action This rule is needed to carry out the requirements of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 and Office of Management and Budget guidance M
2110. The rule adjusts, as required for 2021, the maximum civil penalties under 29 CFR 4071 and 29 CFR 4302
that the Pension Benefit Guaranty Corporation PBGC may assess for failure to provide certain notices or other material information and certain multiemployer plan notices.
PBGCs legal authority for this action comes from the Federal Civil Penalties Inflation Adjustment Act of 1990 as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 and from sections 4002b3, 4071, and 4302 of the Employee Retirement Income Security Act of 1974 ERISA.

PENSION BENEFIT GUARANTY
CORPORATION

Major Provisions of the Regulatory Action
29 CFR Parts 4071 and 4302

This rule adjusts as required by law the maximum civil penalties that PBGC
may assess under sections 4071 and 4302 of ERISA. The new maximum amounts are $2,259 for section 4071
penalties and $301 for section 4302
penalties.

RIN 1212AB45

This section makes inflation adjustments in the dollar amounts of civil monetary penalties provided by law within the Commissions jurisdiction. The following maximum civil penalty amounts apply only to penalties assessed after January 13, 2021, including those penalties whose associated violation predated January 13, 2021.
a Section 7Ag1 of the Clayton Act, 15 U.S.C. 18ag1$43,792;
b Section 11l of the Clayton Act, 15
U.S.C. 21l$23,266;
c Section 5l of the FTC Act, 15
U.S.C. 45l$43,792;
d Section 5m1A of the FTC Act, 15 U.S.C. 45m1A$43,792;
e Section 5m1B of the FTC Act, 15 U.S.C. 45m1B$43,792;
f Section 10 of the FTC Act, 15
U.S.C. 50$576;
g Section 5 of the Webb-Pomerene Export Trade Act, 15 U.S.C. 65$576;
h Section 6b of the Wool Products Labeling Act, 15 U.SC. 68db$576;
i Section 3e of the Fur Products Labeling Act, 15 U.S.C. 69ae$576;
j Section 8d2 of the Fur Products Labeling Act, 15 U.S.C. 69fd2$576;
k Section 333a of the Energy Policy and Conservation Act, 42 U.S.C.
6303a$474;
l Sections 525a and b of the Energy Policy and Conservation Act, 42

2541

Adjustment of Civil Penalties for Inflation Pension Benefit Guaranty Corporation.
ACTION: Final rule.
AGENCY:

The Pension Benefit Guaranty Corporation is required to amend its regulations annually to adjust for inflation the maximum civil penalty for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices.
DATES:
Effective date: This rule is effective on January 13, 2021.
Applicability date: The increases in the civil monetary penalties under sections 4071 and 4302 of the Employee Retirement Income Security Act provided for in this rule apply to such penalties assessed after January 13, 2021.
SUMMARY:

FOR FURTHER INFORMATION CONTACT:

Gregory Katz katz.gregory@pbgc.gov, Attorney, Regulatory Affairs Division, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC
200054026; 2022293829. TTY users may call the Federal relay service tollfree at 8008778339 and ask to be connected to 2022293829.

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Background PBGC administers title IV of ERISA.
Title IV has two provisions that authorize PBGC to assess civil monetary penalties.1 Section 4302, added to ERISA by the Multiemployer Pension Plan Amendments Act of 1980, authorizes PBGC to assess a civil penalty of up to $100 a day for failure to provide a notice under subtitle E of title IV of ERISA dealing with multiemployer plans. Section 4071, added to ERISA by the Omnibus Budget Reconciliation Act of 1987, authorizes PBGC to assess a civil penalty of up to $1,000 a day for failure to provide a notice or other material information under subtitles A, B, and C of title IV
and sections 303k4 and 306g4 of title I of ERISA.
1 Under the Federal Civil Penalties Inflation Adjustment Act of 1990, a penalty is a civil monetary penalty if among other things it is for a specific monetary amount or has a maximum amount specified by Federal law. Title IV also provides in section 4007 for penalties for late payment of premiums, but those penalties are neither in a specified amount nor subject to a specified maximum amount.

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