Proposed Extension of Information Collection Request Submitted for Public Comment and Recommendations; Alternative Method of Compliance for Certain SEPs pursuant to 29 CFR 2520.104-49, 18003-18004 [E8-6768]

Download as PDF Federal Register / Vol. 73, No. 64 / Wednesday, April 2, 2008 / Notices transmitters, and software developers for information exchange. II. Review Focus The Department of Labor (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 • 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 submissions of responses. rmajette on PROD1PC64 with NOTICES III. Current Actions The Department is requesting an extension of the currently approved ICR pertaining to the Application for EFAST Electronic Signature and Codes for EFAST Transmitters and Software Developers (Form EFAST–1). The Department is not proposing or implementing changes to the existing ICR at this time. Title: Application for EFAST Electronic Signature and Codes for EFAST Transmitters and Software Developers. Agency: Department of Labor, Employee Benefits Security Administration. Type of Review: Extension of currently approved collections. OMB Numbers: 1210–0117. Affected Public: Individuals or households; Business or other for-profit; Not-for-profit institutions. Form Number: EFAST–1. Total Respondents: 5,200. Total Responses: 5,200. Frequency of Response: On occasion. Estimated Burden Hours: 1,716. Estimated Burden Cost (Operating and Maintenance): $2,000. Comments submitted in response to this request will be summarized and/or included in the request for Office of Management and Budget approval of the information collection request; they will also become a matter of public record. VerDate Aug<31>2005 15:36 Apr 01, 2008 Jkt 214001 Dated: March 27, 2008. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E8–6766 Filed 4–1–08; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection Request Submitted for Public Comment and Recommendations; Alternative Method of Compliance for Certain SEPs pursuant to 29 CFR 2520.104–49 Employee Benefits Security Administration, Department of Labor. AGENCY: 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). This program helps to ensure that requested data can be provided in the desired format, reporting burden (time and financial resources) is minimized, collection instruments are clearly understood, and the impact of collection requirements on respondents can be properly assessed. Currently, the Employee Benefits Security Administration is soliciting comments on the proposed extension of the collection of information included in the alternative method of compliance for certain simplified employee pensions regulation (29 CFR 2520.104– 49). A copy of the information collection request (ICR) can be obtained by contacting the individual shown in the ADDRESSES section of this notice or at http://www.RegInfo.gov. Written comments must be submitted to the office shown in the ADDRESSES section on or before June 2, 2008. DATES: G. Christopher Cosby, Department of Labor, Employee Benefits Security Administration, 200 Constitution Avenue, NW., Washington, DC 20210, (202) 693–8410, FAX (202) 693–4745 (these are not toll-free numbers). ADDRESSES: SUPPLEMENTARY INFORMATION: PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 18003 I. Background Section 110 of the Employment Retirement Income Security Act (ERISA) authorizes the Secretary to prescribe alternative methods of compliance with the reporting and disclosure requirements of Title I of ERISA for pension plans. Simplified employee pensions (SEPs) are established in section 408(k) of the Internal Revenue Code (Code). Although SEPs are primarily a development of the Code and subject to its requirements, SEPs are also pension plans subject to the reporting and disclosure requirements of Title I of ERISA. The Department previously issued a regulation under the authority of section 110 of ERISA (29 CFR 2520.104–49) that intended to relieve sponsors of certain SEPs from ERISA’s Title I reporting and disclosure requirements by prescribing an alternative method of compliance. These SEPs are, for purposes of this Notice, referred to as ‘‘non-model’’ SEPs because they exclude (1) those SEPs which are created through use of Internal Revenue Service (IRS) Form 5305–SEP, and (2) those SEPs in which the employer limits or influences the employees’ choice to IRAs into which employers’ contributions will be made and on which participant withdrawals are prohibited. The disclosure requirements in this regulation were developed in conjunction with the Internal Revenue Service (IRS Notice 81–1). Accordingly, sponsors of ‘‘nonmodel’’ SEPs that satisfy the limited disclosure requirements of the regulation are relieved from otherwise applicable reporting and disclosure requirements under Title I of ERISA, including the requirements to file annual reports (Form 5500 Series) with the Department, and to furnish summary plan descriptions and summary annual reports to participants and beneficiaries. This ICR includes four separate disclosure requirements. First, at the time an employee becomes eligible to participate in the SEP, the administrator of the SEP must furnish the employee in writing specific and general information concerning the SEP; a statement on rates, transfers and withdrawals; and a statement on tax treatment. Second, the administrator of the SEP must furnish participants with information concerning any amendments. Third, the administrator must notify participants of any employer contributions made to the IRA. Fourth, in the case of a SEP that provides integration with Social Security, the administrator shall provide participants with a statement on Social E:\FR\FM\02APN1.SGM 02APN1 18004 Federal Register / Vol. 73, No. 64 / Wednesday, April 2, 2008 / Notices Security taxes and the integration formula used by the employer. II. Review Focus The Department of Labor (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 • 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 submissions of responses. rmajette on PROD1PC64 with NOTICES III. Current Actions The Office of Management and Budget’s (OMB) approval of this ICR will expire on June 30, 2008. 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 proposed or made at this time. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval of the information collection; they also will become a matter of public record. Agency: Employee Benefits Security Administration, Department of Labor. Title: Alternative Method of Compliance for Certain SEPs pursuant to 29 CFR 2520.104–49. Type of Review: Extension of a currently approved collection of information OMB Number: 1210–0034. Affected Public: Individuals or households; Business or other for-profit; Not-for-profit institutions. Respondents: 460. Responses: 103,590. Frequency of Response: On occasion. Average Response time: 35 minutes. Estimated Total Burden Hours: 21,227. Total Burden Cost (operating/ maintenance): $26,000. VerDate Aug<31>2005 15:36 Apr 01, 2008 Jkt 214001 Dated: March 27, 2008. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E8–6768 Filed 4–1–08; 8:45 am] BILLING CODE 4510–29–P LIBRARY OF CONGRESS Copyright Royalty Board [Docket No. 2008–2 CRB CD 2000–2003] Distribution of 2000, 2001, 2002, and 2003 Cable Royalty Funds Copyright Royalty Board, Library of Congress. ACTION: Notice announcing commencement of Phase I proceeding with request for Petitions to Participate. AGENCY: SUMMARY: The Copyright Royalty Judges are announcing the commencement of a proceeding to determine the Phase I distribution of 2000, 2001, 2002, and 2003 royalties collected under the cable statutory license. The Judges are also announcing the date by which a party who wishes to participate in this distribution proceeding must file its Petition to Participate and the accompanying $150 file fee. DATES: Petitions to Participate and the filing fee are due on or before May 2, 2008. An original, five copies, and an electronic copy in Portable Document Format (PDF) on a CD of the Petition to Participate, along with the $150 filing fee, may be delivered to the Copyright Royalty Board by either mail or hand delivery. Petitions to Participate and the $150 filing fee may not be delivered by an overnight delivery service other than the U.S. Postal Service Express Mail. If by mail (including overnight delivery), Petitions to Participate, along with the $150 filing fee, must be addressed to: Copyright Royalty Board, P.O. Box 70977, Washington, DC 20024–0977. If hand delivered by a private party, Petitions to Participate, along with the $150 filing fee, must be brought to the Library of Congress, James Madison Memorial Building, LM–401, 101 Independence Avenue, SE., Washington, DC 20559– 6000. If delivered by a commercial courier, Petitions to Participate, along with the $150 filing fee, must be delivered to the Congressional Courier Acceptance Site, located at 2nd and D Street, NE., Washington, DC. The envelope must be addressed to: Copyright Royalty Board, Library of Congress, James Madison Memorial Building, LM–403, 101 Independence ADDRESSES: PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 Avenue, SE., Washington, DC 20559– 6000. FOR FURTHER INFORMATION CONTACT: LaKeshia Brent, CRB Program Specialist, by telephone at (202) 707– 7658 or e-mail at crb@loc.gov. SUPPLEMENTARY INFORMATION: Background Each year, semiannually, cable systems must submit royalty payments to the Copyright Office as required by the cable statutory license for the privilege of retransmitting over-the-air television and radio broadcast signals. 17 U.S.C. 111. These royalties are then distributed to copyright owners whose works were included in such retransmissions and who timely filed a claim for royalties. Distribution of the royalties for each calendar year are determined by the Copyright Royalty Judges (‘‘Judges’’) in two phases. At Phase I, the royalties are divided among the representatives of the major categories of copyrightable content (movies, sports programming, music, etc.) requesting the distribution. At Phase II, the royalties are divided among the various copyright owners within each category. This Notice announcing the commencement of a proceeding under 17 U.S.C. 803(b)(1) for distribution of cable royalties collected for 2000, 2001, 2002, and 2003 is confined to Phase I. Commencement of Phase I Proceeding Consistent with 17 U.S.C. 804(b)(8), the Copyright Royalty Judges determine that a Phase I controversy exists as to the distribution of the 2000, 2001, 2002, and 2003 cable royalties. We reach this determination, in this instance, for two reasons. First, several interested parties have represented to us that a Phase I controversy exists for these years. See, e.g., comments filed by the following parties on September 19, 2007 in Docket No. 2005–3 CRB CD 2003:1 the National Association of Broadcasters, the Joint Sports Claimants, Devotional Claimants, Canadian Claimants Group, Public Television Claimants. Second, to date we have not received notification that any settlements have been reached for any of these years, nor have we received motions for final distribution. The Judges are consolidating the 2000, 2001, 2002 and 2003 royalty years into a single proceeding. Several parties 1 For the reasons discussed herein, the Copyright Royalty Judges are consolidating the 2000, 2001, 2002 and 2003 royalty years into a single proceeding. Therefore, from this point forward, any issues regarding the distribution of the 2003 cable royalty funds should be captioned under the consolidated docket, Docket No. 2008–2 CRB CD 2000–2003. E:\FR\FM\02APN1.SGM 02APN1

Agencies

[Federal Register Volume 73, Number 64 (Wednesday, April 2, 2008)]
[Notices]
[Pages 18003-18004]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-6768]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection Request Submitted 
for Public Comment and Recommendations; Alternative Method of 
Compliance for Certain SEPs pursuant to 29 CFR 2520.104-49

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). This program helps to ensure that requested data can be 
provided in the desired format, reporting burden (time and financial 
resources) is minimized, collection instruments are clearly understood, 
and the impact of collection requirements on respondents can be 
properly assessed. Currently, the Employee Benefits Security 
Administration is soliciting comments on the proposed extension of the 
collection of information included in the alternative method of 
compliance for certain simplified employee pensions regulation (29 CFR 
2520.104-49).
    A copy of the information collection request (ICR) can be obtained 
by contacting the individual shown in the Addresses section of this 
notice or at http://www.RegInfo.gov.

DATES: Written comments must be submitted to the office shown in the 
ADDRESSES section on or before June 2, 2008.

ADDRESSES: G. Christopher Cosby, Department of Labor, Employee Benefits 
Security Administration, 200 Constitution Avenue, NW., Washington, DC 
20210, (202) 693-8410, FAX (202) 693-4745 (these are not toll-free 
numbers).

SUPPLEMENTARY INFORMATION:

I. Background

    Section 110 of the Employment Retirement Income Security Act 
(ERISA) authorizes the Secretary to prescribe alternative methods of 
compliance with the reporting and disclosure requirements of Title I of 
ERISA for pension plans. Simplified employee pensions (SEPs) are 
established in section 408(k) of the Internal Revenue Code (Code). 
Although SEPs are primarily a development of the Code and subject to 
its requirements, SEPs are also pension plans subject to the reporting 
and disclosure requirements of Title I of ERISA.
    The Department previously issued a regulation under the authority 
of section 110 of ERISA (29 CFR 2520.104-49) that intended to relieve 
sponsors of certain SEPs from ERISA's Title I reporting and disclosure 
requirements by prescribing an alternative method of compliance. These 
SEPs are, for purposes of this Notice, referred to as ``non-model'' 
SEPs because they exclude (1) those SEPs which are created through use 
of Internal Revenue Service (IRS) Form 5305-SEP, and (2) those SEPs in 
which the employer limits or influences the employees' choice to IRAs 
into which employers' contributions will be made and on which 
participant withdrawals are prohibited. The disclosure requirements in 
this regulation were developed in conjunction with the Internal Revenue 
Service (IRS Notice 81-1). Accordingly, sponsors of ``non-model'' SEPs 
that satisfy the limited disclosure requirements of the regulation are 
relieved from otherwise applicable reporting and disclosure 
requirements under Title I of ERISA, including the requirements to file 
annual reports (Form 5500 Series) with the Department, and to furnish 
summary plan descriptions and summary annual reports to participants 
and beneficiaries.
    This ICR includes four separate disclosure requirements. First, at 
the time an employee becomes eligible to participate in the SEP, the 
administrator of the SEP must furnish the employee in writing specific 
and general information concerning the SEP; a statement on rates, 
transfers and withdrawals; and a statement on tax treatment. Second, 
the administrator of the SEP must furnish participants with information 
concerning any amendments. Third, the administrator must notify 
participants of any employer contributions made to the IRA. Fourth, in 
the case of a SEP that provides integration with Social Security, the 
administrator shall provide participants with a statement on Social

[[Page 18004]]

Security taxes and the integration formula used by the employer.

II. Review Focus

    The Department of Labor (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
     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 submissions of responses.

III. Current Actions

    The Office of Management and Budget's (OMB) approval of this ICR 
will expire on June 30, 2008. 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 proposed 
or made at this time.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of the information 
collection; they also will become a matter of public record.
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Alternative Method of Compliance for Certain SEPs pursuant 
to 29 CFR 2520.104-49.
    Type of Review: Extension of a currently approved collection of 
information
    OMB Number: 1210-0034.
    Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
    Respondents: 460.
    Responses: 103,590.
    Frequency of Response: On occasion.
    Average Response time: 35 minutes.
    Estimated Total Burden Hours: 21,227.
    Total Burden Cost (operating/maintenance): $26,000.

    Dated: March 27, 2008.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
 [FR Doc. E8-6768 Filed 4-1-08; 8:45 am]
BILLING CODE 4510-29-P