Agency Information Collection Activities; Submission for OMB Review; Comment Request; Requirements of a Bona Fide Thrift or Savings Plan and Requirements of a Bona Fide Profit-Sharing Plan or Trust, 73682 [2011-30686]

Agencies

• DEPARTMENT OF LABOR
• Office of the Secretary

[Federal Register Volume 76, Number 229 (Tuesday, November 29, 2011)]
[Notices]
[Page 73682]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-30686]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Requirements of a Bona Fide Thrift or Savings 
Plan and Requirements of a Bona Fide Profit-Sharing Plan or Trust

ACTION: Notice.

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SUMMARY: The Department of Labor (DOL) is submitting the Wage and Hour 
Division (WHD) sponsored information collection request (ICR) titled, 
``Requirements of a Bona Fide Thrift or Savings Plan and Requirements 
of a Bona Fide Profit-Sharing Plan or Trust,'' to the Office of 
Management and Budget (OMB) for review and approval for continued use 
in accordance with the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 
3501 et seq.).

DATES: Submit comments on or before December 29, 2011.

ADDRESSES: A copy of this ICR with applicable supporting documentation; 
including a description of the likely respondents, proposed frequency 
of response, and estimated total burden may be obtained from the 
RegInfo.gov Web site, https://www.reginfo.gov/public/do/PRAMain, on the 
day following publication of this notice or by contacting Michel Smyth 
by telephone at (202) 693-4129 (this is not a toll-free number) or 
sending an email to DOL_PRA_PUBLIC@dol.gov.
    Submit comments about this request to the Office of Information and 
Regulatory Affairs, Attn: OMB Desk Officer for the Department of Labor, 
Wage and Hour Division (WHD), Office of Management and Budget, Room 
10235, Washington, DC 20503, Telephone: (202) 395-6929/Fax: (202) 395-
6881 (these are not toll-free numbers), email: OIRA_submission@omb.eop.gov.

FOR FURTHER INFORMATION CONTACT: Contact Michel Smyth by telephone at 
(202) 693-4129 (this is not a toll-free number) or by email at DOL_PRA_PUBLIC@dol.gov.

SUPPLEMENTARY INFORMATION: This information collection applies to 
employers claiming the overtime exemption available under Fair Labor 
Standards Act section 7(e)(3)(b). Specifically, in calculating an 
employee's regular rate of pay, an employer need not include 
contributions made to a bona fide thrift or savings plan or a bona fide 
profit-sharing plan or trust--as defined in 29 CFR parts 547 and 549. 
Employers are required to communicate, or make available to the 
employees, the terms of the bona fide thrift or savings plan and bona 
fide profit-sharing plan or trust, and retain certain records.
    This information collection is subject to the PRA. A Federal agency 
generally cannot conduct or sponsor a collection of information, and 
the public is generally not required to respond to an information 
collection, unless it is approved by the OMB under the PRA and displays 
a currently valid OMB Control Number. In addition, notwithstanding any 
other provisions of law, no person shall generally be subject to 
penalty for failing to comply with a collection of information if the 
collection of information does not display a valid OMB Control Number. 
See 5 CFR 1320.5(a) and 1320.6. The DOL obtains OMB approval for this 
information collection under OMB Control Number 1235-0013. The current 
OMB approval is scheduled to expire on November 30, 2011; however, it 
should be noted that existing information collection requirements 
submitted to the OMB receive a month-to-month extension while they 
undergo review. For additional information, see the related notice 
published in the Federal Register on May 16, 2011 (76 FR 28242).
    Interested parties are encouraged to send comments to the OMB, 
Office of Information and Regulatory Affairs at the address shown in 
the ADDRESSES section within 30 days of publication of this notice in 
the Federal Register. In order to help ensure appropriate 
consideration, comments should reference OMB Control Number 1235-0013. 
The OMB 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 submission of responses.
    Agency: Wage and Hour Division (WHD).
    Title of Collection: Requirements of a Bona Fide Thrift or Savings 
Plan and Requirements of a Bona Fide Profit-Sharing Plan or Trust.
    OMB Control Number: 1235-0013.
    Affected Public: Private Sector--Businesses or other for profits, 
Farms, and Not-for-profit institutions.
    Total Estimated Number of Respondents: 1,034,112.
    Total Estimated Number of Responses: 589,444.
    Total Estimated Annual Burden Hours: 328.
    Total Estimated Annual Other Costs Burden: $0.

Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2011-30686 Filed 11-28-11; 8:45 am]
BILLING CODE 7510-13-P