FR 2024-28442

This document, issued by the Pension Benefit Guaranty Corporation (PBGC), announces a final rule amending its Privacy Act regulations. Specifically, it allows PBGC to exempt a system of records known as PBGC-19—the Office of Negotiations and Restructuring/Office of General Counsel Case Management System—from certain disclosure requirements under the Privacy Act. These changes are set to take effect on January 6, 2025, and aim to ensure the confidentiality and integrity of investigatory records related to potential violations of various laws.

General Summary

The final rule pertains to a specific system of records maintained by PBGC that includes information relating to administrative, civil, and criminal law enforcement investigations. This exemption will enable PBGC to withhold disclosure of certain records, thus preventing interference with ongoing investigations and protecting sensitive information from unnecessary exposure. The legal basis for this action is found in section 552a(k) of the Privacy Act, which permits exemption of records gathered for law enforcement purposes.

Significant Issues or Concerns

One of the central concerns addressed by this rule is the balance between transparency and the need to maintain the effectiveness of legal investigations. While transparency is a fundamental component of government operations, there are situations, such as those involving law enforcement, where revealing too much information could undermine investigations, invade individual privacy, or compromise the legal strategies and activities of the PBGC.

Impact on the Public

For the general public, this rule ensures that investigatory processes related to pension plans remain confidential and unimpeded. The public benefits when law enforcement entities can conduct investigations without external interference or premature disclosure of sensitive information. This also helps foster trust in the processes that protect the integrity of pension systems.

Impact on Specific Stakeholders

For stakeholders directly involved with PBGC, such as the employees managing these records or legal professionals engaged in case management, these changes clarify the boundaries of information-sharing obligations. The rule provides these stakeholders with assurance that sensitive information used in investigations will be protected, minimizing the risk of it being compromised.

For individuals whose information might be included in these records, there is an assurance that their personal data is handled with care and revealed only when necessary, which could help preserve personal and professional reputations.

Overall, while this amendment reduces the level of transparency regarding specific investigatory records, it does so to protect the privacy of individuals and the integrity of important legal processes, which constitutes a positive step for both the agency and the stakeholders it serves.