Proposed Extension of Information Collection Request Submitted for Public Comment; Regulation Relating to Loans to Plan Participants and Beneficiaries Who Are Parties in Interest With Respect to the Plan, 51844-51845 [2010-20798]

Download as PDF 51844 Federal Register / Vol. 75, No. 162 / Monday, August 23, 2010 / Notices provides appropriate notice (as specified) and invests the assets ‘‘in accordance with regulations prescribed by the Secretary [of Labor].’’ Section 404(c)(5)(A) further requires the Department of Labor (Department) to issue corresponding final regulations within six months after enactment of the PPA. The PPA was signed into law on August 17, 2006. The Department of Labor issued a final regulation under ERISA section 404(c)(5)(A) offering guidance on the types of investment vehicles that plans may choose as their ‘‘qualified default investment alternative’’ (QDIA). The regulation also outlines two information collections. First, it implements the statutory requirement that plans provide annual notices to participants and beneficiaries whose account assets could be invested in a QDIA. Second, the regulation requires plans to pass certain pertinent materials they receive relating to a QDIA to those participants and beneficiaries with assets invested in the QDIA as well to provide certain information on request. The ICRs are approved under OMB Control Number 1210–0132, which is scheduled to expire on October 31, 2010. erowe on DSK5CLS3C1PROD with NOTICES II. Current Actions. This notice requests public comment pertaining to the Department’s request for extension of OMB approval of the information collection contained in its final rule at 29 CFR 2550.404c–5. After considering comments received in response to this notice, the Department intends to submit an ICR to OMB for continuing approval. No change to the existing ICRs is proposed or made at this time. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICR and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Default Investment Alternatives under Individual Account Plans. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0132. Affected Public: Individuals or households; Business or other for-profit; Not-for-profit institutions. Respondents: 1,700. Responses: 66,991,403. Estimated Total Burden Hours: 795,219. Estimated Total Burden Cost (Operating and Maintenance): $24,711,418. VerDate Mar<15>2010 15:31 Aug 20, 2010 Jkt 220001 III. 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. Comments submitted in response to this notice will be summarized and/or included in the ICR for OMB approval of the extension of the information collection; they will also become a matter of public record. Dated: August 17, 2010. Michael L. Davis, Deputy Assistant Secretary, Employee Benefits Security Administration. [FR Doc. 2010–20799 Filed 8–20–10; 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; Regulation Relating to Loans to Plan Participants and Beneficiaries Who Are Parties in Interest With Respect to the Plan Employee Benefits Security Administration, Department of Labor. ACTION: Notice. AGENCY: The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the public’s reporting burden. It also helps the public understand the SUMMARY: PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 Department’s information collection requirements and provide the requested data in the desired format. The Employee Benefits Security Administration is soliciting comments on the proposed extension of the information collection provisions of its regulation relating to loans to plan participants and beneficiaries who are parties in interest with respect to the plan (29 CFR 2550.408b–1). A copy of the information collection request (ICR) may be obtained by contacting the office listed in the ADDRESSES section of this notice. ICRs also are available at reginfo.gov (http://www.reginfo.gov/ public/do/PRAMain). DATES: Written comments must be submitted to the office shown in the Addresses section on or before October 22, 2010. 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 The Employee Retirement Income Security Act of 1974 (ERISA) prohibits a plan fiduciary from causing the plan to engage in a transaction if he knows or should know that such transaction constitutes direct or indirect loan or extension of credit between the plan and a party in interest. ERISA section 408(b)(1) exempts from this prohibition loans from a plan to parties in interest who are participants and beneficiaries of the plan, provided that certain requirements are satisfied. In final regulations published in the Federal Register on July 20, 1989 (54 FR 30520), the Department provided additional guidance on section 408(b)(1)(C), which requires that loans be made in accordance with specific provisions in the plan. This ICR therefore relates to the provisions plan documents must include in order for a plan may make loans to participants. The ICR is scheduled to expire on October 31, 2010. II. Current Actions This notice requests public comment on the Department’s request for extension of OMB approval of the information collection contained in its final rule at 29 CFR 2550.408b–1. After considering all the responses to this notice, the Department intends to submit an ICR to OMB for continuing approval. The Department is not proposing any changes to the existing E:\FR\FM\23AUN1.SGM 23AUN1 Federal Register / Vol. 75, No. 162 / Monday, August 23, 2010 / Notices ICR at this time. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICR and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Regulation Relating to Loans to Plan Participants and Beneficiaries who are Parties in Interest with Respect to the Plan. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0076. Affected Public: Individuals or households; Business or other for-profit; Not-for-profit institutions. Respondents: 1,700. Responses: 1,700. Estimated Total Burden Hours: 1. Estimated Total Burden Cost (Operating and Maintenance): $556,000. erowe on DSK5CLS3C1PROD with NOTICES III. 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. Comments submitted in response to this notice will be summarized and/or included in the ICR for OMB approval of the extension of the information collection; they will also become a matter of public record. Dated: August 17, 2010. Michael L. Davis, Deputy Assistant Secretary, Employee Benefits Security Administration. [FR Doc. 2010–20798 Filed 8–20–10; 8:45 am] BILLING CODE 4510–29–P VerDate Mar<15>2010 15:31 Aug 20, 2010 Jkt 220001 51845 Signed in Washington, DC, this 6th day of August 2010. Michael W. Jaffe, Certifying Officer, Division of Trade Adjustment Assistance. DEPARTMENT OF LABOR Employment and Training Administration [FR Doc. 2010–20786 Filed 8–20–10; 8:45 am] [TA–W–70,993; TA–W–70,993A] BILLING CODE 4510–FN–P Diebold, Incorporated, Hebron, OH; Diebold, Incorporated, North Canton, OH; Amended Certification Regarding Eligibility To Apply for Worker Adjustment Assistance In accordance with Section 223 of the Trade Act of 1974, as amended (‘‘Act’’), 19 U.S.C. 2273, the Department of Labor issued a Certification of Eligibility to Apply for Worker Adjustment Assistance on April 1, 2010, applicable to workers of Diebold, Incorporated, North Canton, Ohio. The notice was published in the Federal Register on May 5, 2010 (75 FR 24750). The notice was corrected on April 23, 2010 to show the correct location of the subject firm should read Hebron, Ohio not North Canton, Ohio which is the headquarters location of the subject firm. At the request of the State agency, the Department reviewed the certification for workers of the subject firm. The workers were engaged in the production of banking security equipment. New findings show that worker separations occurred during the relevant time period at the North Canton, Ohio location of Diebold, Incorporated. The North Canton, Ohio location produced banking security equipment and served as the headquarter offices for Diebold, Incorporated. Accordingly, the Department is amending the certification to include workers of the North Canton, Ohio location of Diebold, Incorporated. The intent of the Department’s certification is to include all workers of the subject firm who were adversely affected by a shift in production of banking security equipment to Hungary and China. The amended notice applicable to TA–W–70,993 is hereby issued as follows: All workers of Diebold, Incorporated, Hebron, Ohio (TA–W–70,993 and Diebold, Incorporated, North Canton, Ohio (TA–W– 70,993A), who became totally or partially separated from employment on or after June 4, 2008, through April 1, 2012, and all workers in the group threatened with total or partial separation from employment on date of certification through two years from the date of certification, are eligible to apply for adjustment assistance under Chapter 2 of Title II of the Trade Act of 1974, as amended. PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 DEPARTMENT OF LABOR Employment and Training Administration [TA–W–73,591A] Chrysler Group, LLC Manufacturing Division St. Louis North Plant Including On-Site Leased Workers From American Food, G4S Wackenhut, C R Associates, Syncreon, Robinson Solutions and Dupont Performance Coatings Fenton, MO; Amended Certification Regarding Eligibility To Apply for Worker Adjustment Assistance In accordance with Section 223 of the Trade Act of 1974, as amended (‘‘Act’’), 19 U.S.C. 2273, the Department of Labor issued a Certification of Eligibility to Apply for Worker Adjustment Assistance on June 2, 2010, applicable to workers of Chrysler Group, LLC, Manufacturing Division, St. Louis North Plant, including on-site leased workers from American Food, G4S Wackenhut, C R Associates, Syncreon and Robinson Solutions, Fenton, Missouri. The notice was published in the Federal Register on June 16, 2010 (75 FR 34177). At the request of petitioners, the Department reviewed the certification for workers of the subject firm. The workers develop and produce performance coating solutions for vehicles. The company reports that workers leased from DuPont Performance Coatings, a wholly-owned subsidiary of E.I. DuPont de Nemours Company, OEM, were employed on-site at the Fenton, Missouri location of Chrysler Group, LLC, Manufacturing Division, St. Louis North Plant. The Department has determined that these workers were sufficiently under the control of the subject firm to be considered leased workers. Based on these findings, the Department is amending this certification to include workers leased from DuPont Performance Coatings, a wholly-owned subsidiary of E.I. DuPont de Nemours Company, OEM, working on-site at the Fenton, Missouri location of Chrysler Group, LLC, Manufacturing Division, St. Louis North Plant. E:\FR\FM\23AUN1.SGM 23AUN1

Agencies

[Federal Register Volume 75, Number 162 (Monday, August 23, 2010)]
[Notices]
[Pages 51844-51845]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-20798]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Regulation Relating to Loans to Plan Participants 
and Beneficiaries Who Are Parties in Interest With Respect to the Plan

AGENCY: Employee Benefits Security Administration, Department of Labor.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of Labor (the Department), in accordance with 
the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)), 
provides the general public and Federal agencies with an opportunity to 
comment on proposed and continuing collections of information. This 
helps the Department assess the impact of its information collection 
requirements and minimize the public's reporting burden. It also helps 
the public understand the Department's information collection 
requirements and provide the requested data in the desired format. The 
Employee Benefits Security Administration is soliciting comments on the 
proposed extension of the information collection provisions of its 
regulation relating to loans to plan participants and beneficiaries who 
are parties in interest with respect to the plan (29 CFR 2550.408b-1). 
A copy of the information collection request (ICR) may be obtained by 
contacting the office listed in the ADDRESSES section of this notice. 
ICRs also are available at reginfo.gov (http://www.reginfo.gov/public/do/PRAMain).

DATES: Written comments must be submitted to the office shown in the 
Addresses section on or before October 22, 2010.

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

    The Employee Retirement Income Security Act of 1974 (ERISA) 
prohibits a plan fiduciary from causing the plan to engage in a 
transaction if he knows or should know that such transaction 
constitutes direct or indirect loan or extension of credit between the 
plan and a party in interest. ERISA section 408(b)(1) exempts from this 
prohibition loans from a plan to parties in interest who are 
participants and beneficiaries of the plan, provided that certain 
requirements are satisfied. In final regulations published in the 
Federal Register on July 20, 1989 (54 FR 30520), the Department 
provided additional guidance on section 408(b)(1)(C), which requires 
that loans be made in accordance with specific provisions in the plan. 
This ICR therefore relates to the provisions plan documents must 
include in order for a plan may make loans to participants. The ICR is 
scheduled to expire on October 31, 2010.

II. Current Actions

    This notice requests public comment on the Department's request for 
extension of OMB approval of the information collection contained in 
its final rule at 29 CFR 2550.408b-1. After considering all the 
responses to this notice, the Department intends to submit an ICR to 
OMB for continuing approval. The Department is not proposing any 
changes to the existing

[[Page 51845]]

ICR at this time. An agency may not conduct or sponsor, and a person is 
not required to respond to, an information collection unless it 
displays a valid OMB control number. A summary of the ICR and the 
current burden estimates follows:
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Regulation Relating to Loans to Plan Participants and 
Beneficiaries who are Parties in Interest with Respect to the Plan.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0076.
    Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
    Respondents: 1,700.
    Responses: 1,700.
    Estimated Total Burden Hours: 1.
    Estimated Total Burden Cost (Operating and Maintenance): $556,000.

III. 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.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Dated: August 17, 2010.
Michael L. Davis,
Deputy Assistant Secretary, Employee Benefits Security Administration.
[FR Doc. 2010-20798 Filed 8-20-10; 8:45 am]
BILLING CODE 4510-29-P