Proposed Extension of Information Collection; Comment Request; Definition of “Plan Assets”-Participant Contributions, 13476 [E9-6835]

Download as PDF 13476 Federal Register / Vol. 74, No. 58 / Friday, March 27, 2009 / Notices published at Volume 73 FR 73957 on December 4, 2008. SUPPLEMENTARY INFORMATION: Darrin A. King, Departmental Clearance Officer. [FR Doc. E9–6774 Filed 3–26–09; 8:45 am] BILLING CODE 4510–FW–P DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection; Comment Request; Definition of ‘‘Plan Assets’’— Participant Contributions mstockstill on PROD1PC66 with NOTICES AGENCY: Employee Benefits Security Administration. 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 collects 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 its collection requirements on respondents. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments concerning an extension of the current approval of the information collection in the regulation entitled Definition of Plan Assets— Participant Contributions, codified at 29 CFR 2510.3–102. A copy of EBSA’s proposed information collection request (ICR) can be obtained by contacting the individual listed below in the ADDRESSES section of this notice. DATES: Comments must be submitted on or before May 26, 2009. ADDRESSES: Direct all comments regarding the ICR 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., Washington, DC 20210. Comments may be submitted in writing to the above address, via facsimile to (202) 219–4745, or electronically to the following Internet e-mail address: ebsa.opr@dol.gov. VerDate Nov<24>2008 17:13 Mar 26, 2009 Jkt 217001 I. Background The regulation concerning plan assets and participant contributions provides guidance for fiduciaries, participants, and beneficiaries of employee benefit plans regarding how participant contributions to pension plans must be handled when they are either paid to the employer by the participant or directly withheld by the employer from the employee’s wages for transmission to the pension plan. In particular, the regulation sets standards for the timely delivery of such participant contributions, including an outside time limit for the employer’s holding of participant contributions. In addition, for those employers who may have difficulty meeting the regulation’s outside deadlines for transmitting participant contribution, the regulation (29 CFR 2510.3–102(d)) provides the opportunity for the employer to obtain an extension of the time limit by providing participants and the Department with a notice that contains specified information. The ICR pertains to this notice requirement. The Department previously requested review of this information collection and obtained approval from the Office of Management and Budget (OMB) under OMB control number 1210–0100. That approval is scheduled to expire on June 30, 2009. II. Desired Focus of Comments 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., by permitting electronic submissions of responses. III. Current Actions This notice requests comments on an extension of the ICR included in the PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 regulation governing the definition of ‘‘plan assets’’ as related to participant contributions. 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: Type of Review: Extension of a currently approved information collection. Agency: Employee Benefits Security Administration. Title: Definition of Plan Assets— Participant Contributions. OMB Number: 1210–0100. Affected Public: Business or other forprofit; not-for-profit institutions; individuals. Number of Respondents: 1. Frequency: On occasion. Number of Annual Responses: 251. Total Burden Hours: 1. Total Burden Cost (Operating and Maintenance): $1,000. 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 information collection request; they will also become a matter of public record. Dated: March 23, 2009. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E9–6835 Filed 3–26–09; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection: Comment Request National Medical Support Notice—Part B AGENCY: Employee Benefits Security Administration. 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 collects 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, E:\FR\FM\27MRN1.SGM 27MRN1

Agencies

[Federal Register Volume 74, Number 58 (Friday, March 27, 2009)]
[Notices]
[Page 13476]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-6835]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection; Comment Request; 
Definition of ``Plan Assets''--Participant Contributions

AGENCY: Employee Benefits Security Administration.

ACTION: Notice.

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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 collects 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 its collection requirements on 
respondents.
    Currently, the Employee Benefits Security Administration (EBSA) is 
soliciting comments concerning an extension of the current approval of 
the information collection in the regulation entitled Definition of 
Plan Assets--Participant Contributions, codified at 29 CFR 2510.3-102. 
A copy of EBSA's proposed information collection request (ICR) can be 
obtained by contacting the individual listed below in the ADDRESSES 
section of this notice.

DATES: Comments must be submitted on or before May 26, 2009.

ADDRESSES: Direct all comments regarding the ICR 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., Washington, DC 20210. Comments may be 
submitted in writing to the above address, via facsimile to (202) 219-
4745, or electronically to the following Internet e-mail address: 
ebsa.opr@dol.gov.

SUPPLEMENTARY INFORMATION:

I. Background

    The regulation concerning plan assets and participant contributions 
provides guidance for fiduciaries, participants, and beneficiaries of 
employee benefit plans regarding how participant contributions to 
pension plans must be handled when they are either paid to the employer 
by the participant or directly withheld by the employer from the 
employee's wages for transmission to the pension plan. In particular, 
the regulation sets standards for the timely delivery of such 
participant contributions, including an outside time limit for the 
employer's holding of participant contributions. In addition, for those 
employers who may have difficulty meeting the regulation's outside 
deadlines for transmitting participant contribution, the regulation (29 
CFR 2510.3-102(d)) provides the opportunity for the employer to obtain 
an extension of the time limit by providing participants and the 
Department with a notice that contains specified information. The ICR 
pertains to this notice requirement. The Department previously 
requested review of this information collection and obtained approval 
from the Office of Management and Budget (OMB) under OMB control number 
1210-0100. That approval is scheduled to expire on June 30, 2009.

II. Desired Focus of Comments

    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., by 
permitting electronic submissions of responses.

III. Current Actions

    This notice requests comments on an extension of the ICR included 
in the regulation governing the definition of ``plan assets'' as 
related to participant contributions. 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:
    Type of Review: Extension of a currently approved information 
collection.
    Agency: Employee Benefits Security Administration.
    Title: Definition of Plan Assets--Participant Contributions.
    OMB Number: 1210-0100.
    Affected Public: Business or other for-profit; not-for-profit 
institutions; individuals.
    Number of Respondents: 1.
    Frequency: On occasion.
    Number of Annual Responses: 251.
    Total Burden Hours: 1.
    Total Burden Cost (Operating and Maintenance): $1,000.
    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 information collection request; they will also become a 
matter of public record.

    Dated: March 23, 2009.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
[FR Doc. E9-6835 Filed 3-26-09; 8:45 am]
BILLING CODE 4510-29-P