[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
----------------------------------------------------------------------------------------------------------------
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
                                                                 -----------------
    Total.......................................................           5,326  ..............           1,225
----------------------------------------------------------------------------------------------------------------

    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