[Federal Register: March 27, 2009 (Volume 74, Number 58)]
[Notices]
[Page 13477-13478]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr27mr09-88]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
Proposed Extension of Information Collection Comment Request;
ERISA Summary Annual Report
AGENCY: Employee Benefits Security Administration, Department of Labor.
ACTION: Notice.
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SUMMARY: The Department of Labor (the Department), as part of its
continuing effort to reduce paperwork and respondent burden, conducts a
pre-clearance consultation program to provide the general public and
Federal agencies with an opportunity to comment on proposed and
continuing collections of information in accordance with the Paperwork
Reduction Act of 1995 (PRA 95). This program helps to ensure that the
data the Department gathers can be provided in the desired format, the
reporting burden (time and financial resources) is minimized, the
public clearly understands the Department's collection instruments, and
the Department can accurately assess the impact of collection
requirements on respondents. Currently, the Employee Benefits Security
Administration (EBSA) is soliciting comments concerning an extension of
the information collections in the regulation implementing the
requirement under the Employee Retirement Income Security Act of 1974
(ERISA) that administrators of employee benefit plans annually furnish
participants and certain beneficiaries a statement that fairly
summarizes the plan's latest annual report. A copy of the information
collection request (ICR)
[[Page 13478]]
may be obtained by contacting the office listed in the ADDRESSES
section of this notice.
DATES: Written comments must be submitted to the office shown in the
ADDRESSES section on or before May 26, 2009.
ADDRESSES: Direct all written comments regarding the information
collection request and burden estimates to G. Christopher Cosby, Office
of Policy and Research, Employee Benefits Security Administration, U.S.
Department of Labor, 200 Constitution Avenue, NW., Room N-5718,
Washington, DC 20210. Telephone: (202) 693-8410, FAX (202) 219-4333.
These are not toll-free numbers. Comments may also be submitted
electronically to the following Internet e-mail address:
ebsa.opr@dol.gov.
SUPPLEMENTARY INFORMATION:
I. Background
Section 104(b)(3) of ERISA and the regulation published at 29 CFR
2520.104b-10 require, with certain exceptions, that administrators of
employee benefit plans furnish annually to each participant and certain
beneficiaries a summary annual report (SAR) meeting the requirements of
the statute and regulation. The regulation prescribes the content and
format of the SAR and the timing of its delivery. The SAR provides
current information about the plan and assists those who receive it in
understanding the plan's current financial operation and condition. It
also explains participants' and beneficiaries' rights to receive
further information on these issues.
EBSA previously submitted the information collection provisions in
the regulation at 29 CFR 2520.104b-10 to the Office of Management and
Budget (OMB) for review in an information collection request (ICR). OMB
approved the ICR under OMB Control No. 1210-0040. The ICR approval is
scheduled to expire on July 31, 2009.
II. Desired Focus of Comments
The Department is particularly interested in comments that:
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;
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;
Enhance the quality, utility, and clarity of the
information to be collected; and
Evaluate whether and to what extent the proposed
collection of information minimizes 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.,
by permitting electronic submissions of responses.
III. Current Action
This notice requests comments on an extension of the information
collections in the ERISA Summary Annual Report regulation. After
considering comments received in response to this notice, the
Department intends to submit the ICR to OMB for continuing approval. No
change to the existing ICR is being proposed or made at this time. A
summary of the ICR and the current burden estimates follows:
Type of Review: Extension of a currently approved collection of
information.
Agency: Employee Benefits Security Administration, Department of
Labor.
Title: ERISA Summary Annual Report Regulation.
OMB Number: 1210-0040.
Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
Respondents: 749,000.
Responses: 228,686,000.
Estimated Total Burden Hours: 461,000.
Estimated Total Burden Cost (Operating and Maintenance):
$134,161,000.
Comments submitted in response to this notice will be summarized
and/or included in the request for OMB approval of the ICR and will
also become a matter of public record.
Dated: March 23, 2009.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security
Administration.
[FR Doc. E9-6837 Filed 3-26-09; 8:45 am]
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