Pension & Benefits News PBGC requests comments on administrative review of agency decisions regs concerning reconsiderations of initial PBGC determinations
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Monday, June 24, 2019

PBGC requests comments on administrative review of agency decisions regs concerning reconsiderations of initial PBGC determinations

By Pension and Benefits Editorial Staff

The Pension Benefit Guaranty Corporation (PBGC) has issued a notice that it intends to request that the Office of Management and Budget (OMB) extend approval of a collection of information under its regulations on Rules for Administrative Review of Agency Decisions concerning reconsiderations of initial PBGC determinations.

The PBGC’s regulations on Rules for Administrative Review of Agency Decisions prescribe rules governing the issuance of initial determinations by the PBGC and the procedures for requesting and obtaining administrative review of initial determinations through reconsideration or appeal. Any person who disagrees with an initial determination by the PBGC on determinations that a plan is covered by ERISA Sec. 4021, determinations concerning premiums, interest, and late payment penalties, determinations concerning voluntary terminations, determinations concerning allocation of assets under ERISA Sec. 4044, or determinations with respect to penalties under ERISA Sec. 4071 may request reconsideration of the initial determination. The OMB has approved the existing collection of information through September 30, 2019. The PBGC intends to request that the OMB extend approval of this collection of information for three years.

The PBGC is seeking public comment on the proposed collection of information. Comments should be submitted by June 28, 2019, and may be submitted by using the Federal eRulemaking Portal at http://www.regulations.gov, by email at [email protected], or by mail or hand delivery to the Regulatory Affairs Division, Office of General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005-4026.

SOURCE: 84 FR 18093.

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