Proposed Extension of Information Collection Request Submitted for Public Comment; Consent To Receive Employee Benefit Plan Disclosure Electronically; Prohibited Transaction Exemption 86-128; Furnishing Documents to the Secretary of Labor on Request under ERISA Section 104(a)(6), 30199-30200 [2011-12711]
Download as PDF
<![CDATA[
Federal Register / Vol. 76, No. 100 / Tuesday, May 24, 2011 / Notices
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
Agency: Bureau of Labor Statistics
(BLS).
Title of Collection: Green
Technologies and Practices Survey.
Type of Review: New Collection
(Request for a new OMB Control
Number).
ICR Reference Number: 201103–1220–
003.
Affected Public: Private Sector—
Businesses or other for-profits and notfor-profit institutions; Federal
Government; State, Local, and Tribal
Governments.
Total Estimated Number Responses:
27,001.
Total Estimates Annual Burden
Hours: 9,001.
Total Estimated Annual Costs Burden:
$0.
Dated: May 17, 2011.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2011–12643 Filed 5–23–11; 8:45 am]
BILLING CODE 4510–24–P
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Consent To Receive
Employee Benefit Plan Disclosure
Electronically; Prohibited Transaction
Exemption 86–128; Furnishing
Documents to the Secretary of Labor
on Request under ERISA Section
104(a)(6)
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
Department’s information collection
requirements and provide the requested
data in the desired format. The
Employee Benefits Security
Administration (EBSA) is soliciting
comments on the proposed extension of
jlentini on DSK4TPTVN1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
16:47 May 23, 2011
Jkt 223001
the information collection requests
(ICRs) contained in the documents that
are described below. The Department is
not proposing to make any changes to
the ICRs at this time. A copy of the ICRs
may be obtained by contacting the office
listed in the ADDRESSES section of this
notice. ICRs also are available at
reginfo.gov (https://www.reginfo.gov/
public/do/PRAMain).
DATES: Written comments must be
submitted to the office shown in the
Addresses section on or before July 25,
2011.
ADDRESSES: G. Christopher Cosby,
Department of Labor, Employee Benefits
Security Administration, 200
Constitution Avenue, NW., N–5718,
Washington, DC 20210, (202) 693–8410,
FAX (202) 693–4745 (these are not tollfree numbers).
SUPPLEMENTARY INFORMATION: This
notice requests public comment on the
Department’s request for extension of
the Office of Management and Budget’s
(OMB) approval of ICRs contained in
the rules described below. The
Department is not proposing any
changes to the existing ICRs 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 ICRs and the current
burden estimates follows:
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Consent to Receive Employee
Benefit Plan Disclosure Electronically.
Type of Review: Extension without
change of a currently approved
collection of information.
OMB Number: 1210–0121.
Affected Public: Business or other forprofit; Not-for-profit institutions.
Respondents: 50,000.
Responses: 3,400,000.
Estimated Total Burden Hours: 7,000.
Estimated Total Burden Cost
(Operating and Maintenance): $170,000.
Description: The Department
established a safe harbor pursuant to
which all pension and welfare benefit
plans covered by Title I of ERISA may
use electronic media to satisfy
disclosure obligations under Title I of
ERISA (29 CFR 2520.104b-1). Employee
benefit plan administrators will be
deemed to satisfy their disclosure
obligations when furnishing documents
electronically only if a participant who
does not have access to the employer’s
electronic information system in the
normal course of his duties, or a
beneficiary or other person entitled to
documents, has affirmatively consented
to receive disclosure documents. Prior
to consenting, the participant or
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
30199
beneficiary must also be provided with
a clear and conspicuous statement
indicating the types of documents to
which the consent would apply, that
consent may be withdrawn at any time,
procedures for withdrawing consent and
updating necessary information, the
right to obtain a paper copy, and any
hardware and software requirements. In
the event of a hardware or software
change that creates a material risk that
the individual will be unable to access
or retain documents that were the
subject of the initial consent, the
individual must be provided with
information concerning the revised
hardware or software, and an
opportunity to withdraw a prior
consent. The Department published a
Request for Information regarding
electronic disclosure in the Federal
Register on April 7, 2011 (75 Fed. Reg.
19285), which is unrelated to this
notice. The ICR is scheduled to expire
on August 31, 2011.
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Prohibited Transaction Class
Exemption 86–128.
Type of Review: Extension without
change of a currently approved
collection of information.
OMB Number: 1210–0059.
Affected Public: Business or other forprofit; Not-for-profit institutions.
Respondents: 4,200.
Responses: 1,168,529.
Estimated Total Burden Hours:
59,072.
Estimated Total Burden Cost
(Operating and Maintenance): $711,630.
Description: Prohibited Transaction
Class Exemption 86–128 permits
persons who serve as fiduciaries for
employee benefit plans to effect or
execute securities transactions on behalf
of employee benefit plans. The
exemption also allows sponsors of
pooled separate accounts and other
pooled investment funds to use their
affiliates to effect or execute securities
transactions for such accounts in order
to recapture brokerage commissions for
the benefit of employee benefit plans
whose assets are maintained in pooled
separate accounts managed by insurance
companies. This exemption provides
relief from certain prohibitions in
section 406(b) of the Employee
Retirement Income Security Act of 1974
(ERISA) and from the taxes imposed by
section 4975(a) and (b) of the Internal
Revenue Code of 1986 (the Code) by
reason of Code section 4975(c)(1)(E) or
(F).
In order to insure that the exemption
is not abused, that the rights of
participants and beneficiaries are
E:\FR\FM\24MYN1.SGM
24MYN1
jlentini on DSK4TPTVN1PROD with NOTICES
30200
Federal Register / Vol. 76, No. 100 / Tuesday, May 24, 2011 / Notices
protected, and that the exemption’s
conditions are being complied with, the
Department has included in the
exemption five information collection
requirements. The first requirement is
written authorization executed in
advance by an independent fiduciary of
the plan whose assets are involved in
the transaction with the brokerfiduciary. The second requirement is,
within three months of the
authorization, the broker-fiduciary
furnish the independent fiduciary with
any reasonably available information
necessary for the independent fiduciary
to determine whether an authorization
should be made. The information must
include a copy of the exemption, a form
for termination, and a description of the
broker-fiduciary’s brokerage placement
practices. The third requirement is that
the broker-fiduciary must provide a
termination form to the independent
fiduciary annually so that the
independent fiduciary may terminate
the authorization without penalty to the
plan; failure to return the form
constitutes continuing authorization.
The fourth requirement is for the brokerfiduciary to report all transactions to the
independent fiduciary, either by
confirmation slips or through quarterly
reports. The fifth requirement calls for
the broker-fiduciary to provide an
annual summary of the transactions.
The annual summary must contain all
security transaction-related charges
incurred by the plan, the brokerage
placement practices, and a portfolio
turnover ratio. The ICR is scheduled to
expire on September 30, 2011.
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Furnishing Documents to the
Secretary of Labor on Request under
ERISA Section 104(a)(6).
Type of Review: Extension without
change of a currently approved
collection of information.
OMB Number: 1210–0112.
Affected Public: Business or other forprofit; Not-for-profit institutions.
Respondents: 500.
Responses: 500.
Estimated Total Burden Hours: 44.
Estimated Total Burden Cost
(Operating and Maintenance): $1,665.
Description: As a result of the
Taxpayer Relief Act of 1997 (TRA 97),
the plan administrators of ERISAcovered employee benefit plans no
longer need to file copies of the
summary plan descriptions and
summaries of material modifications
that are publicly available. TRA 97
added paragraph (6) to section 104(a) of
ERISA. Prior to the TRA 97
amendments, ERISA required certain
VerDate Mar<15>2010
16:47 May 23, 2011
Jkt 223001
documents be filed with the Department
so that plan participants and
beneficiaries could obtain the
documents without having to turn to the
plan administrator. The new section
104(a)(6) authorizes the Department to
request these documents on behalf of
plan participants and beneficiaries. The
Department issued a final implementing
guidance on this matter on January 7,
2002 (67 FR 772). The ICR relating to
document requests is scheduled to
expire on December 31, 2011.
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 collections 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 ICRs for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Dated: May 18, 2011.
Joseph S. Piacentini,
Director, Office of Policy and Research,
Employee Benefits Security Administration.
[FR Doc. 2011–12711 Filed 5–23–11; 8:45 am]
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Occupational Safety and Health
Administration
[Docket No. OSHA–2011–0064]
Forging Machines; Extension of the
Office of Management and Budget’s
(OMB) Approval of Information
Collection (Paperwork) Requirements
Occupational Safety and Health
Administration (OSHA), Labor.
ACTION: Request for public comments.
AGENCY:
OSHA solicits public
comments concerning its proposal to
SUMMARY:
PO 00000
Frm 00113
Fmt 4703
Sfmt 4703
extend OMB approval of the
information collection requirements
contained in the Forging Machines
Standard (29 CFR 1910.218). The
paperwork provisions of the Standard
specify requirements for developing and
maintaining inspection records and for
identifying manually operated valves
and switches.
DATES: Comments must be submitted
(postmarked, sent, or received) by July
25, 2011.
ADDRESSES:
Electronically: You may submit
comments and attachments
electronically at https://
www.regulations.gov, which is the
Federal eRulemaking Portal. Follow the
instructions online for submitting
comments.
Facsimile: If your comments,
including attachments, are not longer
than 10 pages, you may fax them to the
OSHA Docket Office at (202) 693–1648.
Mail, hand delivery, express mail,
messenger, or courier service: When
using this method, you must submit a
copy of your comments and attachments
to the OSHA Docket Office, Docket No.
OSHA–2011–0064, U.S. Department of
Labor, Occupational Safety and Health
Administration, Room N–2625, 200
Constitution Avenue, NW., Washington,
DC 20210. Deliveries (hand, express
mail, messenger, and courier service)
are accepted during the Department of
Labor’s and Docket Office’s normal
business hours, 8:15 a.m. to 4:45 p.m.,
e.t.
Instructions: All submissions must
include the Agency name and OSHA
docket number (OSHA–2011–0064) for
the Information Collection Request
(ICR). All comments, including any
personal information you provide, are
placed in the public docket without
change and may be made available
online at https://www.regulations.gov.
For further information on submitting
comments, see the ‘‘Public
Participation’’ heading in the section of
this notice titled SUPPLEMENTARY
INFORMATION.
Docket: To read or download
comments or other material in the
docket, go to https://www.regulations.gov
or the OSHA Docket Office at the
address above. All documents in the
docket (including this Federal Register
notice) are listed in the https://
www.regulations.gov index; however,
some information (e.g., copyrighted
material) is not publicly available to
read or download through the Web site.
All submissions, including copyrighted
material, are available for inspection
and copying at the OSHA Docket Office.
You may also contact Theda Kenney or
E:\FR\FM\24MYN1.SGM
24MYN1
]]>Agencies
[Federal Register Volume 76, Number 100 (Tuesday, May 24, 2011)]
[Notices]
[Pages 30199-30200]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-12711]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Employee Benefits Security Administration
Proposed Extension of Information Collection Request Submitted
for Public Comment; Consent To Receive Employee Benefit Plan Disclosure
Electronically; Prohibited Transaction Exemption 86-128; Furnishing
Documents to the Secretary of Labor on Request under ERISA Section
104(a)(6)
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 (EBSA) is soliciting comments
on the proposed extension of the information collection requests (ICRs)
contained in the documents that are described below. The Department is
not proposing to make any changes to the ICRs at this time. A copy of
the ICRs may be obtained by contacting the office listed in the
ADDRESSES section of this notice. ICRs also are available at
reginfo.gov (https://www.reginfo.gov/public/do/PRAMain).
DATES: Written comments must be submitted to the office shown in the
Addresses section on or before July 25, 2011.
ADDRESSES: G. Christopher Cosby, Department of Labor, Employee Benefits
Security Administration, 200 Constitution Avenue, NW., N-5718,
Washington, DC 20210, (202) 693-8410, FAX (202) 693-4745 (these are not
toll-free numbers).
SUPPLEMENTARY INFORMATION: This notice requests public comment on the
Department's request for extension of the Office of Management and
Budget's (OMB) approval of ICRs contained in the rules described below.
The Department is not proposing any changes to the existing ICRs 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 ICRs and the current burden
estimates follows:
Agency: Employee Benefits Security Administration, Department of
Labor.
Title: Consent to Receive Employee Benefit Plan Disclosure
Electronically.
Type of Review: Extension without change of a currently approved
collection of information.
OMB Number: 1210-0121.
Affected Public: Business or other for-profit; Not-for-profit
institutions.
Respondents: 50,000.
Responses: 3,400,000.
Estimated Total Burden Hours: 7,000.
Estimated Total Burden Cost (Operating and Maintenance): $170,000.
Description: The Department established a safe harbor pursuant to
which all pension and welfare benefit plans covered by Title I of ERISA
may use electronic media to satisfy disclosure obligations under Title
I of ERISA (29 CFR 2520.104b-1). Employee benefit plan administrators
will be deemed to satisfy their disclosure obligations when furnishing
documents electronically only if a participant who does not have access
to the employer's electronic information system in the normal course of
his duties, or a beneficiary or other person entitled to documents, has
affirmatively consented to receive disclosure documents. Prior to
consenting, the participant or beneficiary must also be provided with a
clear and conspicuous statement indicating the types of documents to
which the consent would apply, that consent may be withdrawn at any
time, procedures for withdrawing consent and updating necessary
information, the right to obtain a paper copy, and any hardware and
software requirements. In the event of a hardware or software change
that creates a material risk that the individual will be unable to
access or retain documents that were the subject of the initial
consent, the individual must be provided with information concerning
the revised hardware or software, and an opportunity to withdraw a
prior consent. The Department published a Request for Information
regarding electronic disclosure in the Federal Register on April 7,
2011 (75 Fed. Reg. 19285), which is unrelated to this notice. The ICR
is scheduled to expire on August 31, 2011.
Agency: Employee Benefits Security Administration, Department of
Labor.
Title: Prohibited Transaction Class Exemption 86-128.
Type of Review: Extension without change of a currently approved
collection of information.
OMB Number: 1210-0059.
Affected Public: Business or other for-profit; Not-for-profit
institutions.
Respondents: 4,200.
Responses: 1,168,529.
Estimated Total Burden Hours: 59,072.
Estimated Total Burden Cost (Operating and Maintenance): $711,630.
Description: Prohibited Transaction Class Exemption 86-128 permits
persons who serve as fiduciaries for employee benefit plans to effect
or execute securities transactions on behalf of employee benefit plans.
The exemption also allows sponsors of pooled separate accounts and
other pooled investment funds to use their affiliates to effect or
execute securities transactions for such accounts in order to recapture
brokerage commissions for the benefit of employee benefit plans whose
assets are maintained in pooled separate accounts managed by insurance
companies. This exemption provides relief from certain prohibitions in
section 406(b) of the Employee Retirement Income Security Act of 1974
(ERISA) and from the taxes imposed by section 4975(a) and (b) of the
Internal Revenue Code of 1986 (the Code) by reason of Code section
4975(c)(1)(E) or (F).
In order to insure that the exemption is not abused, that the
rights of participants and beneficiaries are
[[Page 30200]]
protected, and that the exemption's conditions are being complied with,
the Department has included in the exemption five information
collection requirements. The first requirement is written authorization
executed in advance by an independent fiduciary of the plan whose
assets are involved in the transaction with the broker-fiduciary. The
second requirement is, within three months of the authorization, the
broker-fiduciary furnish the independent fiduciary with any reasonably
available information necessary for the independent fiduciary to
determine whether an authorization should be made. The information must
include a copy of the exemption, a form for termination, and a
description of the broker-fiduciary's brokerage placement practices.
The third requirement is that the broker-fiduciary must provide a
termination form to the independent fiduciary annually so that the
independent fiduciary may terminate the authorization without penalty
to the plan; failure to return the form constitutes continuing
authorization. The fourth requirement is for the broker-fiduciary to
report all transactions to the independent fiduciary, either by
confirmation slips or through quarterly reports. The fifth requirement
calls for the broker-fiduciary to provide an annual summary of the
transactions. The annual summary must contain all security transaction-
related charges incurred by the plan, the brokerage placement
practices, and a portfolio turnover ratio. The ICR is scheduled to
expire on September 30, 2011.
Agency: Employee Benefits Security Administration, Department of
Labor.
Title: Furnishing Documents to the Secretary of Labor on Request
under ERISA Section 104(a)(6).
Type of Review: Extension without change of a currently approved
collection of information.
OMB Number: 1210-0112.
Affected Public: Business or other for-profit; Not-for-profit
institutions.
Respondents: 500.
Responses: 500.
Estimated Total Burden Hours: 44.
Estimated Total Burden Cost (Operating and Maintenance): $1,665.
Description: As a result of the Taxpayer Relief Act of 1997 (TRA
97), the plan administrators of ERISA-covered employee benefit plans no
longer need to file copies of the summary plan descriptions and
summaries of material modifications that are publicly available. TRA 97
added paragraph (6) to section 104(a) of ERISA. Prior to the TRA 97
amendments, ERISA required certain documents be filed with the
Department so that plan participants and beneficiaries could obtain the
documents without having to turn to the plan administrator. The new
section 104(a)(6) authorizes the Department to request these documents
on behalf of plan participants and beneficiaries. The Department issued
a final implementing guidance on this matter on January 7, 2002 (67 FR
772). The ICR relating to document requests is scheduled to expire on
December 31, 2011.
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
collections 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 ICRs for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Dated: May 18, 2011.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security
Administration.
[FR Doc. 2011-12711 Filed 5-23-11; 8:45 am]
BILLING CODE 4510-29-P
