Justia Regulation Tracker

View PDF Version

[Federal Register: November 21, 2008 (Volume 73, Number 226)]
[Notices]               
[Page 70677]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr21no08-89]                         

-----------------------------------------------------------------------

DEPARTMENT OF LABOR

Employee Benefits Security Administration

 
Proposed Extension of Information Collection; Comment Request; 
ERISA Technical Release 91-1

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of Labor (the Department), as part of its 
continuing effort to reduce paperwork and respondent burden, conducts a 
preclearance 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) (44 U.S.C. 3506(c)(2)(A)). This program 
helps to ensure that the data the Department gathers can be provided in 
the desired format, that the reporting burden on the public (time and 
financial resources) is minimized, that the public understands the 
Department's collection instruments, and that 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 ERISA Technical Release 91-1, issued in 1991. Technical 
Release 91-1 provides guidance on permitted transfers of excess assets 
from a defined benefit pension plan to a retiree health benefits 
account under provisions of the Internal Revenue Code (the Code) and 
the Employee Retirement Income Security Act of 1974 (ERISA). A copy of 
the information collection request (ICR) may be obtained by contacting 
the office listed in the ADDRESSES section of this notice.

DATES: Written comments must be submitted on or before January 20, 
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) 693 219-
5333. 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

    ERISA section 101(e) sets forth certain notice requirements that 
must be satisfied before an employer may transfer excess assets from a 
defined benefit plan to a retiree health benefits account, as otherwise 
permissible after satisfying the conditions set forth in section 420 of 
the Code. Section 101(e)(1) establishes the plan administrator's 
obligation to provide advance written notification of such transfers to 
participants and beneficiaries. Section 101(e)(2)(A) separately 
establishes the employer's obligation to provide advance written 
notification of such transfers to the Secretaries of Labor and 
Treasury, the plan administrator, and each employee organization 
representing participants in the plan. The requirements relating to 
advance notification of transfers to retiree health benefit accounts 
were added to ERISA as part of the Omnibus Budget Reconciliation Act of 
1990 (Pub. L. 101-508). ERISA Technical Release 91-1 provides guidance 
on the type of information to be provided in the notices to both the 
participants and beneficiaries and to the Secretaries. EBSA submitted 
the information collection provisions in the Technical Release to the 
Office of Management and Budget (OMB) for review in connection with 
issuance of the Technical Release. OMB approved the ICR under OMB 
Control No. 1210-0084. The ICR approval is scheduled to expire on March 
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;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Evaluate the accuracy of the agency's estimate of the 
burden of the collection of information, including the validity of the 
methodology and assumptions used;
     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., by 
permitting electronic submission of responses.

III. Current Action

    This notice requests comments on an extension of the information 
collections in ERISA Technical Release 91-1. EBSA is not proposing or 
implementing changes to the existing ICR 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.
    Titles: ERISA Technical Release 91-1.
    OMB Number: 1210-0084.
    Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
    Respondents: 21.
    Frequency of Response: One time.
    Responses: 135,450.
    Estimated Total Burden Hours: 3,386.
    Estimated Total Burden Cost (Operating and Maintenance): $26,413.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of the information 
collection request and will also become a matter of public record.

    Dated: November 12, 2008.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
 [FR Doc. E8-27636 Filed 11-20-08; 8:45 am]

BILLING CODE 4510-29-P

View PDF Version