[Federal Register Volume 68, Number 117 (Wednesday, June 18, 2003)]
[Notices]
[Pages 36585-36586]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-15343]
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DEPARTMENT OF LABOR
Office of the Secretary
Submission for OMB Review; Comment Request
June 11, 2003.
The Department of Labor (DOL) has submitted the following public
information collection requests (ICR's) to the Office of Management and
Budget (OMB) for review and approval in accordance with the Paperwork
Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35). A copy of
the ICR's, with applicable supporting documentation, may be obtained by
calling the Department of Labor. To obtain documentation, contact
Vanessa Reeves on 202-693-4121 (this is not a toll-free number) or E-
Mail: [email protected].
Comments should be sent to Office of Information and Regulatory
Affairs, Attn: OMB Desk Officer for the Employee Benefits Security
Agency, Office of Management and Budget, Room 10235, Washington, DC
20503 (202-395-7316/this is not a toll-free number), within 30 days
from the date of this publication in the Federal Register.
The OMB is particularly interested in comments which:
[sbull] Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
[sbull] Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
[sbull] Enhance the quality, utility, and clarity of the
information to be collected; and minimize the burden of the collection
of information on those who are to respond, including through the use
of appropriate automated, electronic, mechanical, or other
technological collection techniques or other forms of information
technology, e.g., permitting electronic submission of responses.
Agency: Employee Benefits Security Administration (EBSA).
Type of Review: Extension of a currently approved collection.
Title: Prohibited Transaction Class Exemptions for Multiple
Employer & Multiple Employer Apprenticeship Plans, PTCE 76-1, PTCE 77-
10, PTCE 78-6.
OMB Number: 1210-0058.
Affected Public: Business or other for-profit and individuals or
households.
Frequency: On occasion.
Type of Response: Recordkeeping.
Number of Respondents: 4,810.
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Average
Information collection requirements Annual response time Annual burden
responses (hours) hours
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PTCE 76-1, Part A............................................... 0 0.00 0
PTCE 76-1, Part B............................................... 58 0.25 15
PTCE 76-1, Part C............................................... 4,623 0.25 1,156
PTCE 77-10...................................................... 0 0.00 0
PTCE 78-6....................................................... 645 0.08 54
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Total....................................................... 5,326 .............. 1,225
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Total Annualized Capital/Startup Costs: $0.
Total Annual Costs (operating/maintaining systems or purchasing
services): $0.
Description: Prohibited Transaction Class Exemption 76-1, approved
under OMB No. 1210-0058, provides an exemption, under specified
conditions, from certain of ERISA's prohibited transaction provisions
at section 406(a) for various transactions involving multi-employer or
multi employer plans (together, multiple employer plans). Part A of
PTCE 76-1 provides that an agreement between a plan and an employer for
extending the time for a contribution must be in writing. Part B
provides that permanent financing for construction loans involving
plans and participating employers must be in writing, and records must
be maintained for six years. Part C permits plans to lease office space
and provide administrative services or sell goods to a participating
employer, employee organization, participating employer association or
to another multiple employer plan that is a party in interest. A
related exemption, PTCE 77-10, also approved under OMB No. 1210-0058,
complements Part C of PTCE 76-1 by providing an exemption from sections
406(a) and 407(a) of ERISA.
The Department proposes to combine the information collection under
PTCE 76-1 with the information collection in PTCE 78-6, currently
approved under OMB No. 1210-0080, by incorporating the information
collection provisions of PTCE 78-6 into the revision ICR number OMB No.
1210-0058 and allowing the control number for PTCE 78-6 to expire. PTCE
78-6 provides an exemption to multiple employer apprenticeship plans
for the purchase of personal property or the lease of real property by
a plan to a contributing employer. The Department believes that the
public will benefit by having the opportunity to comment on the three
information collection provisions at the same time because the three
exemptions are closely related in that they provide relief from
prohibited transactions for multiple employer plans or multiple
employer apprenticeship plans and they
[[Page 36586]]
have the same recordkeeping provisions.
Agency: Employee Benefits Security Administration (EBSA).
Type of Review: Extension of a currently approved collection.
Title: Bank Collective Investment Funds; Prohibited Transaction
Class Exemption 91-38.
OMB Number: 1210-0082.
Affected Public: Business or other for-profit; individuals or
households; and not-for-profit institutions.
Frequency: On occasion.
Type of Response: Recordkeeping.
Number of Respondents: 1,036.
Number of Annual Responses: 1,036.
Estimated Time Per Responses: 5 minutes.
Total Burden Hours: 86.
Total Annualized Capital/Startup Costs: $0.
Total Annual Costs (operating/maintaining systems or purchasing
services): $0.
Description: Prohibited Transaction Class Exemption 91-38 provides
an exemption from the prohibited transaction provisions of ERISA for
certain transactions between a bank collective investment fund and
persons who are parties in interest with respect to a plan provided
that the plan's participation in the collective investment fund does
not exceed a specific percentage of the total assets in the collective
investment fund. To insure that the exemption is not abused, that the
rights of the participants and beneficiaries are protected, and that a
bank is complying with the conditions of the exemption, the Department
requires records pertaining to the exempted transaction to be
maintained by the bank for six years. The recordkeeping requirement is
the subject of this proposed extension of an ICR.
Agency: Employee Benefits Security Administration (EBSA).
Type of Review: Extension of a currently approved collection.
Title: Prohibited Transaction Class Exemptions 90-1; Pooled
Separate Accounts.
OMB Number: 1210-0083.
Affected Public: Business or other-for profit; individuals or
households; and not-for-profit institutions.
Frequency: On occasion.
Type of Response: Recordkeeping.
Number of Respondents: 128.
Number of Annual Responses: 128.
Estimated Time Per Responses: 5 minutes.
Total Burden Hours: 11.
Total Annualized Capital/Startup Costs: $0.
Total Annual Costs (operating/maintaining systems or purchasing
services): $0.
Description: Prohibited Transaction Class Exemption 90-1 provides
an exemption from certain provisions of the Employee Retirement Income
Security Act of 1974 (ERISA) for certain transactions involving
insurance company pooled separate accounts in which employee benefit
plans participate and which are otherwise prohibited by ERISA.
Specifically, the exemption allows persons who are parties in interest
to a plan that invests in a pooled separate account, such as a service
provider, to engage in transactions with the separate account if the
plan's participation in the separate account does not exceed specified
limits. This ICR covers the recordkeeping requirements for insurance
companies.
Agency: Employee Benefits Security Administration (EBSA).
Type of Review: Extension of a currently approved collection.
Title: Foreign Exchange Transactions; Prohibited Transaction Class
Exemption 94-20.
OMB Number: 1210-0085.
Affected Public: Business or other-for profit; individuals or
households; and not-for-profit institutions.
Frequency: On occasion.
Type of Response: Recordkeeping.
Number of Respondents: 130.
Number of Annual Responses: 650.
Estimated Time Per Responses: 5 minutes.
Total Burden Hours: 54.
Total Annualized Capital/Startup Costs: $0.
Total Annual Costs (operating/maintaining systems or purchasing
services): $0.
Description: Prohibited Transaction Class Exemption 94-20 permits
the purchase and sale of foreign currencies between an employee benefit
plan and a bank or a broker-dealer or an affiliate thereof that is a
party in interest with respect to such plan. In the absence of this
exemption, certain aspects of these transactions could be prohibited by
section 406(a) and 406(b) of the Employee Retirement Income Security
Act of 1974. This ICR covers the disclosure and recordkeeping
requirements for a bank, broker-dealer, or affiliate thereof.
Ira L. Mills,
Departmental Clearance Officer.
[FR Doc. 03-15343 Filed 6-17-03; 8:45 am]
BILLING CODE 4510-29-M