Proposed Extension of Information Collection; Comment Request Final Rule Relating To Notice of Blackout Periods to Participants and Beneficiaries, 75836-75837 [05-24280]

Download as PDF 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 Federal Register / Vol. 70, No. 244 / Wednesday, December 21, 2005 / Notices • 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 submission of responses. III. Current Action The Department is requesting an extension of the currently approved ICR for the Final Rule Relating to Notice of Blackout Periods to Participants and Beneficiaries. The Department is not proposing or implementing changes to the regulation 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: Final Rule Relating to Blackout Notices to Participants and Beneficiaries. OMB Number: 1210–0122. Affected Public: Individuals or households; Business or other for-profit; Not-for-profit institutions. Respondents: 85,150. Frequency of Response: On occasion. Responses: 11,956,000. Estimated Total Burden Hours: 166,129. Total Annual Cost (Operating and Maintenance): $9,351,400. 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. 05–24280 Filed 12–20–05; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Employment and Training Administration erjones on PROD1PC68 with NOTICES [TA–W–58,377] E.I. Dupont Victoria, TX; Notice of Termination of Investigation Pursuant to section 221 of the Trade Act of 1974, as amended, an investigation was initiated on November VerDate Aug<31>2005 15:25 Dec 20, 2005 Jkt 208001 18, 2005 in response to a worker petition filed by the Texas Work Force Commission on behalf of workers at E.I. DuPont, Victoria, Texas. The petitioner has requested that the petition be withdrawn. Consequently, the investigation has been terminated. Signed at Washington, DC this 5th day of December, 2005 Richard Church, Certifying Officer, Division of Trade Adjustment Assistance. [FR Doc. E5–7608 Filed 12–20–05; 8:45 am] BILLING CODE 4510–30–P DEPARTMENT OF LABOR Employment and Training Administration [TA–W–50,129 and TA–W–50,129A] IBM Corporation, Global Services Division, Piscataway, NJ; IBM Corporation, Global Services Division, Middletown, NJ; Notice of Negative Determination on Remand The United States Court of International Trade (USCIT) remanded to the Department of Labor (Labor) for further investigation Former Employees of IBM Corporation, Global Services Division v. U.S. Secretary of Labor, Court No. 03–00656. The USCIT’s Order was issued on August 1, 2005. A petition for Trade Adjustment Assistance (TAA), dated November 13, 2002, was filed on behalf of workers at IBM Corporation, Global Services Division, Piscataway and Middletown, New Jersey (the subject firm). The petitioning workers had been employed by AT&T and had handled the same responsibilities for IBM, after being outsourced by AT&T to IBM in 2000. In the petition, the workers alleged that the subject firm was shifting computer software production to Canada and importing those products from Canada. Upon institution of the petition on November 19, 2002, the Department conducted an investigation to determine whether the subject workers were eligible to apply for TAA. The relevant period for purposes of the investigation was determined to be November 2001 through November 2002. For workers of the subject firm to be certified as eligible to apply for TAA, the following criteria must be met: (1) A significant number or proportion of the workers in such workers’ firm, or an appropriate subdivision of the firm, have become totally or partially separated, or are threatened to become totally or partially separated; and PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 75837 (2) The sales or production, or both, of such firm or subdivision have decreased absolutely, imports of articles like or directly competitive with articles produced by such firm or subdivision have increased, and the increase in imports contributed importantly to such workers’ separation or threat of separation and to the decline in the sales or production of such firm or subdivision; or (3) There has been a shift in production by such workers’ firm or subdivision to a foreign country of articles like or directly competitive with articles which are produced by such firm or subdivision; and the country to which the workers’ firm has shifted production of the articles is a party to a free trade agreement with the United States, is a beneficiary country under the Andean Trade Preference Act, African Growth and Opportunity Act, or the Caribbean Basin Economic Recovery Act or there has been or is likely to be an increase in imports of articles that are like or directly competitive with articles which are or were produced by such firm or subdivision. 29 U.S.C. Section 222 The investigation revealed that the workers were engaged in the analysis and maintenance of computer software and information systems (identifying product requirements, developing network solutions, and writing software). The Department determined that the workers did not produce an article within the meaning of Section 222 of the Trade Act. The Department’s determination was issued on March 26, 2003. The Notice of determination was published in the Federal Register on April 7, 2003 (68 FR 16834). By application of April 29, 2003, a petitioner requested administrative reconsideration of the Department’s negative determination regarding eligibility for workers and former workers of the subject firm to apply for TAA. In the request for reconsideration, the petitioner alleged that the workers did produce an article and argued that the denial was the result of an overly narrow and antiquated interpretation of production by the Department. The Department reviewed the petitioner’s request for reconsideration and affirmed that the workers did not produce an article within the meaning of Section 222 of the Trade Act. Prior to making the determination, the Department reviewed the legislative intent of the TAA program as well as the language of the Trade Act. The Department also reviewed the Harmonized Tariff Schedule of the United States (HTSUS) and the North American Industry Classification System (NAICS), and sought guidance from the U.S. Customs Service (Customs). On June 26, 2003, the Department issued a Notice of Negative Determination Regarding Application E:\FR\FM\21DEN1.SGM 21DEN1

Agencies

[Federal Register Volume 70, Number 244 (Wednesday, December 21, 2005)]
[Notices]
[Pages 75836-75837]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-24280]


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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-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 
Sec.  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;

[[Page 75837]]

     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 submission of responses.

III. Current Action

    The Department is requesting an extension of the currently approved 
ICR for the Final Rule Relating to Notice of Blackout Periods to 
Participants and Beneficiaries. The Department is not proposing or 
implementing changes to the regulation 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: Final Rule Relating to Blackout Notices to Participants and 
Beneficiaries.
    OMB Number: 1210-0122.
    Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
    Respondents: 85,150.
    Frequency of Response: On occasion.
    Responses: 11,956,000.
    Estimated Total Burden Hours: 166,129.
    Total Annual Cost (Operating and Maintenance): $9,351,400.
    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. 05-24280 Filed 12-20-05; 8:45 am]
BILLING CODE 4510-29-P