Proposed Extension of Information Collection; Public Comment ERISA Advisory Opinion Procedure 76-1, 75835-75836 [05-24279]
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Federal Register / Vol. 70, No. 244 / Wednesday, December 21, 2005 / Notices
erjones on PROD1PC68 with NOTICES
plan in connection with the settlement
of litigation. Exempted transactions
must involve either release by the plan
or by a plan fiduciary of a legal or
equitable claim against a party in
interest in exchange for consideration
given by, or on behalf of, a party in
interest to the plan in partial or
complete settlement of the plan’s or the
fiduciary’s claim, or an extension of
credit by the plan or by a plan fiduciary
to a party in interest in connection with
a settlement whereby the party in
interest agrees to repay, over time, an
amount owed to the plan in settlement
of a legal or equitable claim by the plan
or a plan fiduciary against the party in
interest. Among other conditions, the
exemption requires that the terms of the
settlement be specifically described in a
written agreement or consent degree and
that the fiduciary entering into the
settlement on behalf of the plan
acknowledge in writing its fiduciary
status. The exemption also requires the
plan to maintain, for a period of six
years, the records necessary to enable
specified interested person to determine
whether the exemption’s conditions
were met.
Because of the similarity of these two
exemptions, the Department submitted a
combined ICR for the information
collections in both exemptions to the
Office of Management and Budget
(OMB) for review and clearance at the
time that PTE 03–39 was published as
a proposal in the Federal Register
(February 11, 2003, 68 FR 6953). The
ICR for the information collections in
both class exemptions was approved
under OMB control number 1210–0091.
The approval for the ICRs included in
the two exemptions will expire on April
30, 2006.
II. Desired Focus of Comments
The Department is particularly
interested in comments that:
• Evaluate whether the collections of
information are 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
collections of information, including the
validity of the methodology and
assumptions used;
• 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,
VerDate Aug<31>2005
15:25 Dec 20, 2005
Jkt 208001
e.g., by permitting electronic submission
of responses.
III. Current Action
The Department is requesting an
extension of the currently approved ICR
for Settlement Agreements Between a
Plan and Party in Interest. The
Department is not proposing or
implementing changes to the two
exemptions or to the existing ICR. 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: Settlement Agreements Between
a Plan and Party in Interest.
OMB Number: 1210–0091.
Affected Public: Individuals or
households; Business or other for-profit;
Not-for-profit institutions.
Respondents: 4.
Frequency of Response: One-time.
Responses: 1080.
Estimated Total Burden Hours: 40.
Comments submitted in response to
this notice will be summarized and/or
included in the request for OMB
approval of the information collection
request; they will also become a matter
of public record.
Dated: December 14, 2005.
Susan G. Lahne,
Senior Pension Law Specialist, Office of
Policy and Research, Employee Benefits
Security Administration.
[FR Doc. 05–24278 Filed 12–20–05; 8:45 am]
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
Proposed Extension of Information
Collection; Public Comment ERISA
Advisory Opinion Procedure 76–1
Employee Benefits Security
Administration, Department of Labor.
ACTION: Notice.
AGENCY:
SUMMARY: The Department of Labor, 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 helps
to ensure that the data the Department
gathers can be provided in the desired
PO 00000
Frm 00056
Fmt 4703
Sfmt 4703
75835
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 collection
provisions incorporated in ERISA
Advisory Opinion Procedure 76–1. A
copy of the information collection
request (ICR) can be obtained by
contacting the office shown in the
ADDRESSES section of this notice.
DATES: Written comments must be
submitted to the office shown in the
ADDRESSES section of this notice on or
before February 21, 2006.
ADDRESSES: Interested parties are
invited to submit written comments
regarding the information collection
request and burden estimates to: Susan
G. Lahne, Office of Policy and Research,
Employee Benefits Security
Administration, U.S. Department of
Labor, 200 Constitution Avenue NW.,
Washington, DC 20210, (202) 693–8410,
FAX (202) 693–4745 (these are not tollfree numbers). Comments may also be
submitted electronically to
ebsa.opr@dol.gov.
SUPPLEMENTARY INFORMATION:
I. Background
Under the Employee Retirement
Income Security Act of 1974, as
amended (ERISA), the Secretary of
Labor is responsible for administration
and enforcement of reporting,
disclosure, fiduciary, and other
standards established for pension and
welfare benefit plans. These
responsibilities have been delegated
within the Department to EBSA. ERISA
Advisory Opinion Procedure 76–1
describes the administrative procedures
through which the public may request a
written interpretation of ERISA from
EBSA to resolve issues arising out of
specific actual transactions or
circumstances. The procedure is
designed to promote efficient handling
of such inquiries and to facilitate
prompt responses. The Procedure
requires requesters seeking advisory
opinions or information letters to
submit certain information that EBSA
has determined is essential for
determining the nature of a request for
interpretation and EBSA’s response.
EBSA has previously submitted the
information collection provisions of
Advisory Opinion Procedure 76–1 to the
Office of Management and Budget
(OMB) for review in an ICR and
E:\FR\FM\21DEN1.SGM
21DEN1
75836
Federal Register / Vol. 70, No. 244 / Wednesday, December 21, 2005 / Notices
Dated: December 14, 2005.
Susan G. Lahne,
Senior Pension Law Specialist, Office of
Policy and Research, Employee Benefits
Security Administration.
[FR Doc. 05–24279 Filed 12–20–05; 8:45 am]
received approval from OMB under
OMB Control No. 1210–0066. The
current ICR approval is scheduled to
expire on February 28, 2006.
II. Desired Focus of Comments
The Department of Labor
(Department) is particularly interested
in comments that:
• Evaluate whether the 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
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
• 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
submissions of responses.
erjones on PROD1PC68 with NOTICES
III. Current Action
This notice requests comments on an
extension of the information collection
provisions included in ERISA Advisory
Opinion Procedure 76–1. The
Department is not proposing or
implementing changes to the existing
ICR at this time. A summary of the ICR
and the current burden estimates
follows:
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: ERISA Advisory Opinion
Procedure 76–1.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0066.
Affected Public: Individuals or
households; Business or other for-profit;
Not-for-profit institutions.
Respondents: 115.
Responses: 115.
Average Response time: 14 hours.
Estimated Total Burden Hours: 161.
Estimated Total Burden Cost
(Operating and Maintenance): $108,000.
Comments submitted in response to
this notice will be summarized and/or
included in the request for Office of
Management and Budget approval of the
extension of this information collection
request; they will also become a matter
of public record.
VerDate Aug<31>2005
15:25 Dec 20, 2005
Jkt 208001
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
Proposed Extension of Information
Collection; Comment Request Final
Rule Relating To Notice of Blackout
Periods to Participants and
Beneficiaries
ACTION:
Notice.
SUMMARY: In accordance with the
Paperwork Reduction Act of 1995 (PRA
95) (44 U.S.C. 3506(c)(2)(A)), the
Department of Labor (the Department)
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. 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.
By this notice, the Department is
soliciting comments concerning the
information collection provisions of the
regulation under section 101(i) of the
Sarbanes-Oxley Act of 2002 (the SOA),
which requires written notice to be
provided to affected participants and
beneficiaries of individual account
plans of any ‘‘blackout period’’ during
which their right to direct or diversify
investments, obtain a loan, or obtain a
distribution under the plan may be
temporarily suspended. A copy of the
ICR 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 below on or before
February 21, 2006.
ADDRESSES: Interested parties are
invited to submit written comments
regarding the information collection
request and burden estimates to: Susan
G. Lahne, Office of Policy and Research,
U.S. Department of Labor, Employee
Benefits Security Administration, 200
Constitution Avenue, NW., Room N–
PO 00000
Frm 00057
Fmt 4703
Sfmt 4703
5647, Washington, DC 20210.
Telephone: (202) 693–8410; Fax: (202)
219–4745. These are not toll-free
numbers. Comments may also be
submitted electronically to
ebsa.opr@dol.gov.
SUPPLEMENTARY INFORMATION:
I. Background
Section 306(b)(1) of the SOA amended
section 101 of ERISA to add a new
subsection (i), requiring that
administrators of individual account
plans provide notice to affected
participants and beneficiaries in
advance of the commencement of any
blackout period. For purposes of this
notice requirement, a blackout period
generally includes any period during
which the ability of participants or
beneficiaries to direct or diversify assets
credited to their accounts, to obtain
loans from the plan or to obtain
distributions from the plan will be
temporarily suspended, limited or
restricted. As required by section
306(b)(2) of SOA, the Department of
Labor (Department) issued rules
necessary to implement the SOA
amendments. The Department’s
regulation at 29 CFR 2520.101–3
specifies when, how, and to whom a
blackout notice must be provided and
provides model notices to meet the
requirements of the regulation.
The Department submitted the
information collection provisions of
§ 2520.101–3 in an ICR to the Office of
Management and Budget (OMB) for
review and clearance at the time of
publication of the interim final rule,
which was published in the Federal
Register on October 21, 2002 (67 FR
64766). OMB approved the ICR under
its emergency clearance procedures on
December 5, 2002. The Department
requested continuing approval of the
information collection, with burdens
unchanged, in connection with
promulgation of the final regulation on
January 24, 2003 (68 FR 3716). The ICR
for the information collection was
approved under OMB control number
1210–0122. This approval is scheduled
to expire on April 30, 2006.
II. Desired Focus of Comments
The Department is particularly
interested in comments that:
• Evaluate whether the collections of
information are 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
collections of information, including the
validity of the methodology and
assumptions used;
E:\FR\FM\21DEN1.SGM
21DEN1
Agencies
[Federal Register Volume 70, Number 244 (Wednesday, December 21, 2005)]
[Notices]
[Pages 75835-75836]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-24279]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Employee Benefits Security Administration
Proposed Extension of Information Collection; Public Comment
ERISA Advisory Opinion Procedure 76-1
AGENCY: Employee Benefits Security Administration, Department of Labor.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Department of Labor, 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 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
collection provisions incorporated in ERISA Advisory Opinion Procedure
76-1. A copy of the information collection request (ICR) can be
obtained by contacting the office shown in the ADDRESSES section of
this notice.
DATES: Written comments must be submitted to the office shown in the
ADDRESSES section of this notice on or before February 21, 2006.
ADDRESSES: Interested parties are invited to submit written comments
regarding the information collection request and burden estimates to:
Susan G. Lahne, Office of Policy and Research, Employee Benefits
Security Administration, U.S. Department of Labor, 200 Constitution
Avenue NW., Washington, DC 20210, (202) 693-8410, FAX (202) 693-4745
(these are not toll-free numbers). Comments may also be submitted
electronically to ebsa.opr@dol.gov.
SUPPLEMENTARY INFORMATION:
I. Background
Under the Employee Retirement Income Security Act of 1974, as
amended (ERISA), the Secretary of Labor is responsible for
administration and enforcement of reporting, disclosure, fiduciary, and
other standards established for pension and welfare benefit plans.
These responsibilities have been delegated within the Department to
EBSA. ERISA Advisory Opinion Procedure 76-1 describes the
administrative procedures through which the public may request a
written interpretation of ERISA from EBSA to resolve issues arising out
of specific actual transactions or circumstances. The procedure is
designed to promote efficient handling of such inquiries and to
facilitate prompt responses. The Procedure requires requesters seeking
advisory opinions or information letters to submit certain information
that EBSA has determined is essential for determining the nature of a
request for interpretation and EBSA's response. EBSA has previously
submitted the information collection provisions of Advisory Opinion
Procedure 76-1 to the Office of Management and Budget (OMB) for review
in an ICR and
[[Page 75836]]
received approval from OMB under OMB Control No. 1210-0066. The current
ICR approval is scheduled to expire on February 28, 2006.
II. Desired Focus of Comments
The Department of Labor (Department) is particularly interested in
comments that:
Evaluate whether the 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 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
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 submissions of responses.
III. Current Action
This notice requests comments on an extension of the information
collection provisions included in ERISA Advisory Opinion Procedure 76-
1. The Department is not proposing or implementing changes to the
existing ICR at this time. A summary of the ICR and the current burden
estimates follows:
Agency: Employee Benefits Security Administration, Department of
Labor.
Title: ERISA Advisory Opinion Procedure 76-1.
Type of Review: Extension of a currently approved collection of
information.
OMB Number: 1210-0066.
Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
Respondents: 115.
Responses: 115.
Average Response time: 14 hours.
Estimated Total Burden Hours: 161.
Estimated Total Burden Cost (Operating and Maintenance): $108,000.
Comments submitted in response to this notice will be summarized
and/or included in the request for Office of Management and Budget
approval of the extension of this information collection request; they
will also become a matter of public record.
Dated: December 14, 2005.
Susan G. Lahne,
Senior Pension Law Specialist, Office of Policy and Research, Employee
Benefits Security Administration.
[FR Doc. 05-24279 Filed 12-20-05; 8:45 am]
BILLING CODE 4510-29-P