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Federal Register / Vol. 86, No. 130 / Monday, July 12, 2021 / Rules and Regulations
of 2.2 requests per year averaged over 20212023 = 0.73 per year for determinations concerning a transfer of assets or liabilities including a spinoff or merger 1 per year; a withdrawal liability settlement greater than $50
million 1 per year; or a contribution decrease .2 1 every 5 years 0 plans in 2021, 0 plans in 2022, and 2.2 plans in 2023. PBGC needs the information requested to make a determination on the proposed transaction, withdrawal liability settlement, or contribution decrease. PBGC estimates an average annual hour burden employer and fund office hours and average annual cost burden contractor costs per request of:
1.6 hours 8 hours .2 and $5,000
$25,000 .2 for a proposed contribution change;

4 hours and $12,000 for a proposed transfer or merger; and 2 hours and $2,000 for a proposed settlement of withdrawal liability.
PBGC estimates that, beginning in 2023, for 2.2 determination requests, the aggregated average annual hour burden will be 7.6 hours 1.6+4+2 employer and fund office hours and the aggregated average annual cost burden will be $19,000 $5,000 + $12,000 + $2,000 in contractor costs. For 20212023, PBGC
estimates an average annual hour burden of 2.53 hours 7.6/3 and average annual cost burden of $6,333 $19,000/
3.
The estimated aggregate average annual hour burden for 20212023 for the information collection in part 4262
is 723.20 hours 600 + 98 + 22.67 +

Hour burden hours
Average number of respondents p/year
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2.53, which means a cost equivalent of $54,240 assuming a blended hourly rate of $75 for employer and fund office administrative, clerical, and supervisory time. The estimated aggregate average annual cost burden for 20212023 for the information collection in part 4262
is $1,946,600 $1,800,000 + $117,600 +
$22,667 + $6,333, which means approximately 4,867 contract hours assuming an average hourly rate of $400
for work done by outside actuaries and attorneys. The actual hour burden and cost burden per plan will vary depending on plan size and other factors.
The estimated average annual burden figures for 20212023 are shown in the following chart.
Hour burden equivalent cost
Cost burden
Applications for SFA: 60
Annual compliance statements: 49
Notice of reinstatement: 11.33
Requests for determination: 1 0.73

600
98
22.67
2.53

$45,000
7,350
1,700
190

$1,800,000
117,600
22,667
6,333

Totals: 121

723.20

54,240

1,946,600

Plan sponsors of multiemployer plans applying for SFA are required to file an application with PBGC with the required information under part 4262.
For payment of SFA, they are required to include with an application for SFA, common form SF 3881, ACH Vendor/
Miscellaneous Payment Enrollment, OMB control no. 15300069.
Written comments and recommendations for the information requirements under this interim final rule should be sent to the Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Pension Benefit Guaranty Corporation through www.reginfo.gov/public/do/PRAMain.
Find this particular information collection by selecting Currently under ReviewOpen for Public Comments or by using the search function. To be assured of consideration, comments must be submitted by August 11, 2021.
PBGC is soliciting public comments to Evaluate whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
Evaluate the accuracy of the agencys estimate of the burden of the collection of information, including the validity of the methodology and assumptions used;

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Enhance the quality, utility, and clarity of the information to be collected; and Minimize the burden of the collection of information on those who are to respond, including the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.
List of Subjects 29 CFR Part 4000
Employee benefit plans, Pension insurance, Pensions, Reporting and recordkeeping requirements.
29 CFR Part 4262
Employee benefit plans, Pension insurance, Pensions, Reporting and recordkeeping requirements.
For the reasons given above, PBGC is amending 29 CFR chapter XL as follows:
PART 4000FILING, ISSUANCE, COMPUTATION OF TIME, AND
RECORD RETENTION
1. The authority citation for part 4000
continues to read as follows:

Authority: 29 U.S.C. 1083k, 1302b3.
4000.3

Amended
2. In 4000.3, amend paragraph b4
by adding 4262, after 4245,.
3. Add part 4262 to read as follows:

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PART 4262SPECIAL FINANCIAL
ASSISTANCE BY PBGC
Sec.
4262.1 Purpose.
4262.2 Definitions.
4262.3 Eligibility for special financial assistance.
4262.4 Amount of special financial assistance.
4262.5 PBGC review of plan assumptions.
4262.6 Information to be filed.
4262.7 Plan information.
4262.8 Actuarial and financial information.
4262.9 Application for a plan with a partition.
4262.10 Processing applications.
4262.11 PBGC action on applications.
4262.12 Payment of special financial assistance.
4262.13 Restrictions on special financial assistance.
4262.14 Permissible investments of special financial assistance.
4262.15 Reinstatement of benefits previously suspended.
4262.16 Conditions for special financial assistance.
4262.17 Other provisions.
Authority: 29 U.S.C. 1302b3, 1432.
4262.1

Purpose.

The purpose of this part is to prescribe rules governing applications for special financial assistance under section 4262 of ERISA and related requirements.

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