Federal Register #2026-10805

PBGC Request for OMB Approval Extension for Employer Liability Information Collection

The Pension Benefit Guaranty Corporation (PBGC), a federal agency, is seeking public comment on its request to extend OMB approval for an information collection related to employer liability for termination of single-employer pension plans. - Government Buyer: - Pension Benefit Guaranty Corporation (PBGC) - Purpose: - Extension of OMB approval for regulatory information collection (OMB control number 1212-0017) - Requirements: - Contributing sponsors or controlled group members of single-employer pension plans must notify PBGC and submit net worth information if employer liability upon plan termination exceeds 30% of net worth - Estimated annual burden: 19 respondents, each averaging 12 hours and $5,400 - Products/Services: - Regulatory information collection submission (no physical products or OEMs involved) - Unique/Notable Requirements: - Compliance with PBGC regulation for employer liability reporting - No procurement of goods or services; this is a regulatory compliance activity - Place of Performance: - PBGC headquarters, 445 12th Street SW, Washington, DC

Description

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Liability for Termination of Single-Employer Plans. This collection involves notifying PBGC and submitting net worth information when employer liability upon plan termination exceeds 30 percent of the employer's net worth. The notice informs the public of PBGC's request and solicits public comment on the collection of information. Comments must be received by June 29, 2026.

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