The Pension Benefit Guaranty Corporation (PBGC) plans to ask the Office of Management and Budget (OMB) to extend approval for collecting information to determine if a pension plan is covered under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). They are making changes to the Request for Coverage Determination form to improve clarity and remove outdated references. The PBGC invites public comments on the necessity and efficiency of the information collection and aims to reduce the burden on respondents. By May 9, 2025, comments can be submitted through the Federal eRulemaking Portal or by email.
Simple Explanation
The Pension Benefit Guaranty Corporation wants to update a form to help figure out which retirement plans it needs to cover, and they're asking people to share their thoughts on this change. They hope to make the form easier to understand and less work to fill out.