Actuarial Advisory Committee With Respect to the Railroad Retirement Account; Notice of Public Meeting, 72871 [E8-28440]

Download as PDF Federal Register / Vol. 73, No. 231 / Monday, December 1, 2008 / Notices public burden of this collection of information is accurate, and based on valid assumptions and methodology; and ways in which we can minimize the burden of the collection of information on those who are to respond, through the use of appropriate technological collection techniques or other forms of information technology. There are approximately 30,000 changes to health benefits coverage per year. Of these, 20,000 are submitted on OPM Form 2809 and 10,000 verbally or in written correspondence. Each form takes approximately 45 minutes to complete; data collection by telephone or mail takes approximately 10 minutes. The annual burden for the form is 15,000 hours; the burden not using the form is 1,667 hours. The total burden is 16,667 hours. For copies of this proposal, contact Cyrus S. Benson on (202) 606–4808, FAX (202) 606–0910 or via E-mail to Cyrus.Benson@opm.gov. Please include a mailing address with your request. DATES: Comments on this proposal should be received within 60 calendar days from the date of this publication. ADDRESSES: Send or deliver comments to—Ronald W. Melton, Deputy Assistant Director, Retirement Services Program, Center for Retirement and Insurance Services, U.S. Office of Personnel Management, 1900 E Street, NW., Room 3305, Washington, DC 20415–3500. For Information Regarding Administrative Coordination—Contact: Cyrus S. Benson, Team Leader, Publications Team, RIS Support Services/Support Group, (202) 606– 0623. Office of Personnel Management. Howard Weizmann, Deputy Director. [FR Doc. E8–28442 Filed 11–28–08; 8:45 am] BILLING CODE 6325–38–P RAILROAD RETIREMENT BOARD rwilkins on PROD1PC63 with NOTICES Actuarial Advisory Committee With Respect to the Railroad Retirement Account; Notice of Public Meeting Notice is hereby given in accordance with Public Law 92–463 that the Actuarial Advisory Committee will hold a meeting on December 16, 2008, at 12:30 p.m. at the office of the Chief Actuary of the U.S. Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois, on the conduct of the 24th Actuarial Valuation of the Railroad Retirement System. The agenda for this meeting will include a discussion of the assumptions to be used in the 24th Actuarial Valuation. A report containing VerDate Aug<31>2005 16:47 Nov 28, 2008 Jkt 217001 recommended assumptions and the experience on which the recommendations are based will have been sent by the Chief Actuary to the Committee before the meeting. The meeting will be open to the public. Persons wishing to submit written statements or make oral presentations should address their communications or notices to the RRB Actuarial Advisory Committee, c/o Chief Actuary, U.S. Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois 60611–2092. Dated: November 20, 2008. Beatrice Ezerski, Secretary to the Board. [FR Doc. E8–28440 Filed 11–28–08; 8:45 am] BILLING CODE 7905–01–M SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 17f–2, SEC File No. 270–233, OMB Control No. 3235–0223. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 17f–2 (17 CFR 270.17f–2) under the Investment Company Act of 1940 (the ‘‘Act’’) (15 U.S.C. 80a–1) is entitled: ‘‘Custody of Investments by Registered Management Investment Company.’’ Rule 17f–2 establishes safeguards for arrangements in which a registered management investment company (‘‘fund’’) is deemed to maintain custody of its own assets, such as when the fund maintains its assets in a facility that provides safekeeping but not custodial services. The rule includes several recordkeeping or reporting requirements. The fund’s directors must prepare a resolution designating not more than five fund officers or responsible employees who may have access to the fund’s assets. The designated access persons (two or more of whom must act jointly when handling fund assets) must prepare a PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 72871 written notation providing certain information about each deposit or withdrawal of fund assets, and must transmit the notation to another officer or director designated by the directors. Independent public accountants must verify the fund’s assets at least three times a year and two of the examinations must be unscheduled. The requirement that directors designate access persons is intended to ensure that directors evaluate the trustworthiness of insiders who handle fund assets. The requirements that access persons act jointly in handling fund assets, prepare a written notation of each transaction, and transmit the notation to another designated person are intended to reduce the risk of misappropriation of fund assets by access persons, and to ensure that adequate records are prepared, reviewed by a responsible third person, and available for examination by the Commission’s examination staff. The requirement that auditors verify fund assets without notice twice each year is intended to provide an additional deterrent to the misappropriation of fund assets and to detect any irregularities. The Commission staff estimates that each fund makes 941 responses and spends and average of 271 hours annually in complying with the rule’s requirements.1 Commission staff estimates that on an annual basis it takes: (i) 0.5 hours of fund accounting personnel at a total cost of $75.50 to draft director resolutions; 2 (ii) 0.5 hours of the fund’s board of directors at a total cost of $1000 to adopt the resolution; (iii) 263 hours for the fund’s accounting personnel at a total cost of $60,864 to prepare written notations of transactions; 3 and (iv) 7 hours for the fund’s accounting personnel at a total cost of $1057 to assist the independent public accountants when they perform 1 The 941 responses are: 1 (one) response to draft and adopt the resolution and 940 notations. Estimates of the number of hours are based on conversations with individuals in the mutual fund industry. The actual number of hours may vary significantly depending on individual fund assets. 2 This estimate is based on the following calculation: 0.5 (burden hours per fund) × $151 (fund senior accountant’s hourly rate) = $75.50. 3 Respondents estimated that each fund makes 941 responses on an annual basis and spent a total of 0.28 hours per response. The fund personnel involved are Fund Payable Manager ($156 hourly rate), Fund Operations Manager ($252 hourly rate) and Fund Accounting Manager ($285 hourly rate). The weighted hourly rate of these personnel is $231. The estimated cost of preparing notations is based on the following calculation: 941 × 0.28 × $231 = $60,863.88. E:\FR\FM\01DEN1.SGM 01DEN1

Agencies

[Federal Register Volume 73, Number 231 (Monday, December 1, 2008)]
[Notices]
[Page 72871]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-28440]


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RAILROAD RETIREMENT BOARD


Actuarial Advisory Committee With Respect to the Railroad 
Retirement Account; Notice of Public Meeting

    Notice is hereby given in accordance with Public Law 92-463 that 
the Actuarial Advisory Committee will hold a meeting on December 16, 
2008, at 12:30 p.m. at the office of the Chief Actuary of the U.S. 
Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois, on 
the conduct of the 24th Actuarial Valuation of the Railroad Retirement 
System. The agenda for this meeting will include a discussion of the 
assumptions to be used in the 24th Actuarial Valuation. A report 
containing recommended assumptions and the experience on which the 
recommendations are based will have been sent by the Chief Actuary to 
the Committee before the meeting.
    The meeting will be open to the public. Persons wishing to submit 
written statements or make oral presentations should address their 
communications or notices to the RRB Actuarial Advisory Committee, c/o 
Chief Actuary, U.S. Railroad Retirement Board, 844 North Rush Street, 
Chicago, Illinois 60611-2092.

    Dated: November 20, 2008.
Beatrice Ezerski,
Secretary to the Board.
 [FR Doc. E8-28440 Filed 11-28-08; 8:45 am]
BILLING CODE 7905-01-M