PBGC Requests Extension of OMB Approval for Multiemployer Plan Information Collections, Comments Close May 22

Content

ACTION:

Notice of request for extension of OMB approval of information collections.

SUMMARY:

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval,
under the Paperwork Reduction Act, of collections of information in PBGC's regulations on

multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC's
request and solicits public comment on the collections of information.

DATES:

Comments must be received on or before May 22, 2026 to be assured of consideration.

ADDRESSES:

Written comments and recommendations for the proposed information collections should be sent within 30 days of publication
of this notice to www.reginfo.gov/public/do/PRAMain. Find these particular information collections by selecting “Currently under 30-day Review—Open for Public Comments” or by
using the search function. All comments received will be posted without change to PBGC's website, www.pbgc.gov, including any personal information provided. Do not submit comments that include any personally identifiable information (such
as name, address, or other contact information) or confidential business information that you do not want publicly disclosed.
Comments may be submitted anonymously.

A copy of the request will be posted on PBGC's website at www.pbgc.gov/employers-practitioners/federal-register. It may also be obtained without charge by writing to the Disclosure Division (disclosure@pbgc.gov), Office of the General Counsel of PBGC, 445 12th Street SW, Washington, DC 20024-2101, or, calling 202-229-4040 during normal
business hours. If you are deaf or hard of hearing or have a speech disability, please dial 7-1-1 to access telecommunications
relay services.

FOR FURTHER INFORMATION CONTACT:

Monica O'Donnell (odonnell.monica@pbgc.gov), Attorney, Office of the General Counsel, Pension Benefit Guaranty Corporation, 445 12th Street SW, Washington, DC 20024-2101;
202-229-5507. If you are deaf or hard of hearing, or have a speech disability, please dial 711 to access telecommunications
relay services.

SUPPLEMENTARY INFORMATION:

OMB has approved and issued control numbers for seven collections of information in PBGC's regulations relating to multiemployer
plans. These collections of information are described below. OMB approvals for these collections of information expire May
31, 2026. On January 12, 2026, PBGC published in the
Federal Register
(at 91 FR 1217) a notice informing the public of its intent to request an extension of these collections of information. No
comments were received in response to this notice. PBGC is requesting that OMB extend its approval of these collections of
information for 3 years. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of
information unless it displays a currently valid OMB control number.

1. Extension of Special Withdrawal Liability Rules (29 CFR Part 4203) (OMB Control Number 1212-0023)

Sections 4203(f) and 4208(e)(3) of ERISA allow PBGC to permit a multiemployer plan to adopt special rules for determining
whether a withdrawal from the plan has occurred, subject to PBGC approval.

The regulation specifies the information that a plan that adopts special rules must submit to PBGC about the rules, the plan,
and the industry in which the plan operates. PBGC uses the information to determine whether the rules are appropriate for
the industry in which the plan functions and do not pose a significant risk to the insurance system.

PBGC estimates that each year over the next 3 years, at most one plan sponsor submits a request each year under this regulation.
The estimated annual burden of the collection of information is 4 hours and $15,000.

2. Variances for Sale of Assets (29 CFR Part 4204) (OMB Control Number 1212-0021)

If an employer's covered operations or contribution obligation under a plan ceases, the employer must generally pay withdrawal
liability to the plan. Section 4204 of ERISA provides an exception, under certain conditions, where the cessation results
from a sale of assets. Among other things, the buyer must furnish a bond or escrow, and the sale contract must provide for
secondary liability of the seller.

The regulation establishes general variances (rules for avoiding the bond/escrow and sale-contract requirements) and authorizes
plans to determine whether the variances apply in particular cases. It also allows buyers and sellers to request individual
variances from PBGC. Plans and PBGC use the information to determine whether employers qualify for variances. PBGC estimates
that each year over the next 3 years, 100 employers submit, and 100 plans respond to, variance requests under the regulation,
and 1 employer submits a variance request to PBGC. The estimated annual burden of the collection of information is 1,050 hours
and $702,000.

3. Reduction or Waiver of Complete Withdrawal Liability (29 CFR Part 4207) (OMB Control Number 1212-0044)

Section 4207 of ERISA allows PBGC to provide for abatement of an employer's complete withdrawal liability, and for plan adoption
of alternative abatement rules, where appropriate.

Under the regulation, an employer applies to a plan for an abatement determination, providing information the plan needs to
determine whether withdrawal liability should be abated, and the plan notifies the employer of its determination. The employer
may, pending plan action, furnish a bond or escrow instead of making withdrawal liability payments, and must notify the plan
if it does so. When the plan then makes its determination, it must notify the bonding or escrow agent.

The regulation also permits a plan to adopt its own abatement rules and request PBGC approval. PBGC uses the information in
such a request to determine whether the amendment should be approved.

PBGC estimates that each year over the next 3 years, at most 1 employer will submit and 1 plan will respond to an application
for abatement of complete withdrawal liability, and no plan sponsors request approval of plan abatement rules from PBGC. The
estimated annual burden of the collection of information is 0.5 hours and $1,000.

4. Reduction or Waiver of Partial Withdrawal Liability (29 CFR Part 4208) (OMB Control Number 1212-0039)

Section 4208 of ERISA provides for abatement, in certain circumstances, of an employer's partial withdrawal liability and
authorizes PBGC to issue additional partial withdrawal liability abatement rules.

Under the regulation, an employer applies to a plan for an abatement determination, providing information the plan needs to
determine whether withdrawal liability should be abated, and the plan notifies the employer of its determination. The employer
may, pending plan action, furnish a bond or escrow instead of making withdrawal liability payments, and must notify the plan
if it does so. When the plan then makes its determination, it must notify the bonding or escrow agent.

The regulation also permits a plan to adopt its own abatement rules and request PBGC approval. PBGC uses the information in
such a request to determine whether the amendment should be approved.

PBGC estimates that each year over the next 3 years, at most 1 employer will submit and 1 plan will respond to an application
for abatement of partial withdrawal liability, and no plan sponsors request approval of plan abatement rules from PBGC. The
estimated annual burden of the collection of information is 0.50 hours and $1,000.

5. Allocating Unfunded Vested Benefits to Withdrawing Employers (29 CFR Part 4211) (OMB Control Number 1212-0035)

Section 4211(c)(5)(A) of ERISA requires PBGC to prescribe how plans can, with PBGC approval, change the way they allocate
unfunded vested benefits to withdrawing employers for purposes of calculating withdrawal liability.

The regulation prescribes the information that must be submitted to PBGC by a plan seeking such approval. PBGC uses the information
to determine how the amendment changes the way the plan allocates unfunded vested benefits and how the amendment will affect
the risk of loss to plan participants and PBGC.

PBGC estimates that each year over the next 3 years, 10 plan sponsors will submit approval requests under this regulation.
The estimated annual burden of the collection of information is 200 hours and $200,000.

6. Notice, Collection, and Redetermination of Withdrawal Liability (29 CFR Part 4219) (OMB Control Number 1212-0034)

Section 4219(c)(1)(D) of ERISA requires that PBGC prescribe regulations for the allocation of a plan's total unfunded vested
benefits in the event of a “mass withdrawal.” Section 4209(c) of ERISA deals with an employer's liability for de minimis amounts
if the employer withdraws in a “substantial withdrawal.”

The reporting requirements in the regulation give employers notice of a mass withdrawal or substantial withdrawal and advise
them of their rights and liabilities. They also provide notice to PBGC so that it can monitor the plan, and they help PBGC
assess the possible impact of a withdrawal event on participants and the multiemployer plan insurance program.

PBGC estimates that each year over the next 3 years, there will be 2 mass withdrawals and 1 substantial withdrawal. The plan
sponsor of a plan subject to a withdrawal covered by the regulation provides notices of the withdrawal to PBGC and to employers
covered by the plan, liability assessments to the employers, and a certification to PBGC that assessments have been made.
For a mass withdrawal, there are 2 assessments and 2 certifications that deal with 2 different types of liability. For a substantial
withdrawal, there is 1 assessment and 1 certification (combined with the withdrawal notice to PBGC). The estimated annual
burden of the collection of information is 15 hours and $49,500.

7. Procedures for PBGC Approval of Plan Amendments (29 CFR Part 4220) (OMB Control Number 1212-0031)

Under section 4220 of ERISA, a plan may within certain limits adopt special plan rules regarding when a withdrawal from the
plan occurs and how the withdrawing employer's withdrawal liability is determined. Any such special rule is effective only
if, within 90 days after receiving notice and a copy of the rule, PBGC either approves or fails to disapprove the rule. The
regulation provides rules for requesting PBGC's approval of an amendment. PBGC needs the required information to identify
the plan; evaluate the risk of loss, if any, posed by the plan amendment; and determine whether to approve or disapprove the
amendment.

PBGC estimates that each year over the next 3 years, at most 1 plan sponsor will submit an approval request under this regulation.
The estimated annual burden of the collection of information is 2 hours and $8,000 dollars.

Joseph Krettek, Assistant General Counsel, Pension Benefit Guaranty Corporation. [FR Doc. 2026-07832 Filed 4-21-26; 8:45 am] BILLING CODE 7709-02-P

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