Agency Information Collection Activities; Submission for OMB Review; Comment Request; Disclosures by Insurers to General Account Policyholders, 16069 [2012-6568]

Download as PDF Federal Register / Vol. 77, No. 53 / Monday, March 19, 2012 / Notices or the applicable executive order(s) governing classified national security information; the agency records searched in the process of responding to such requests and appeals; Department of Justice personnel assigned to handle such requests and appeals; other agencies or entities that have referred to the Department of Justice requests concerning Department of Justice records, or that have consulted with the Department of Justice regarding the handling of particular requests; individuals and agencies who are involved in disputes concerning FOIA requests where OIP is serving as Ombudsman to resolve such disputes; and submitters or subjects of records or information that have provided assistance to the Department of Justice in making access or amendment determinations. EXEMPTIONS CLAIMED FOR THE SYSTEM: The Attorney General has exempted this system from subsections (c)(3) and (4), (d)(1), (2), (3), and (4); (e)(1), (2), (3), (5), and (8); and (g) of the Privacy Act pursuant to 5 U.S.C. 552a(j) and (k). These exemptions apply only to the extent that information in the system is subject to exemption pursuant to 5 U.S.C. 552a(j) and (k). Rules have been promulgated in accordance with the requirements of 5 U.S.C. 553(b), (c), and (e), and have been published in the Federal Register. [FR Doc. 2012–6557 Filed 3–16–12; 8:45 am] BILLING CODE 4410–FB–P DEPARTMENT OF LABOR Agency Information Collection Activities; Submission for OMB Review; Comment Request; Disclosures by Insurers to General Account Policyholders Office of the Secretary, Labor. Notice. AGENCY: ACTION: The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ‘‘Disclosures by Insurers to General Account Policyholders,’’ 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 April 18, 2012. ADDRESSES: A copy of this ICR with applicable supporting documentation; including a description of the likely emcdonald on DSK29S0YB1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 13:40 Mar 16, 2012 Jkt 226001 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— EBSA, 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: Regulations 29 CFR 2550.401(c)–1 imposes specific requirements on insurers that are parties to Transition Policies, in order to ensure fiduciaries acting on behalf of plans have adequate information and understanding of how the Transition Policies work. Certain of these requirements constitute information collections subject to the PRA. Specifically, to the extent a Transition Policy first issued prior to January 1, 1999, to or for the benefit of an employee benefit plan is not a guaranteed benefit policy, the insurer must annually disclose to the plan fiduciary: (1) The methods by which income and expenses of the insurer’s general account are allocated to the policy, the actual annual return to the plan, and other pertinent information; (2) the extent to which alternative arrangements supported by the assets of the insurer’s separate accounts are available; (3) any rights under the policy to transfer funds to a separate account and the terms governing such right; and (4) the extent to which support by assets of the insurer’s separate accounts might pose differing risks to the plan. 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 PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 16069 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 1210–0114. The current OMB approval is scheduled to expire on March 31, 2012; 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 December 7, 2011 (76 FR 76439). 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 1210– 0114. 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: DOL–EBSA. Title of Collection: Disclosures by Insurers to General Account Policyholders. OMB Control Number: 1210–0114. Affected Public: Private Sector— Businesses or other for profits. Total Estimated Number of Respondents: 104. Total Estimated Number of Responses: 96,223. Total Estimated Annual Burden Hours: 408,948. Total Estimated Annual Other Costs Burden: $33,678. Dated: March 14, 2012. Michel Smyth, Departmental Clearance Officer. [FR Doc. 2012–6568 Filed 3–16–12; 8:45 am] BILLING CODE 4510–29–P E:\FR\FM\19MRN1.SGM 19MRN1

Agencies

DEPARTMENT OF LABOR

[Federal Register Volume 77, Number 53 (Monday, March 19, 2012)]
[Notices]
[Page 16069]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-6568]


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DEPARTMENT OF LABOR


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Disclosures by Insurers to General Account 
Policyholders

AGENCY: Office of the Secretary, Labor.

ACTION: Notice.

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

SUMMARY: The Department of Labor (DOL) is submitting the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Disclosures by Insurers to General 
Account Policyholders,'' 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 April 18, 2012.

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--EBSA, 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: Regulations 29 CFR 2550.401(c)-1 imposes 
specific requirements on insurers that are parties to Transition 
Policies, in order to ensure fiduciaries acting on behalf of plans have 
adequate information and understanding of how the Transition Policies 
work. Certain of these requirements constitute information collections 
subject to the PRA. Specifically, to the extent a Transition Policy 
first issued prior to January 1, 1999, to or for the benefit of an 
employee benefit plan is not a guaranteed benefit policy, the insurer 
must annually disclose to the plan fiduciary: (1) The methods by which 
income and expenses of the insurer's general account are allocated to 
the policy, the actual annual return to the plan, and other pertinent 
information; (2) the extent to which alternative arrangements supported 
by the assets of the insurer's separate accounts are available; (3) any 
rights under the policy to transfer funds to a separate account and the 
terms governing such right; and (4) the extent to which support by 
assets of the insurer's separate accounts might pose differing risks to 
the plan.
    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 1210-
0114. The current OMB approval is scheduled to expire on March 31, 
2012; 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 December 7, 2011 (76 FR 
76439).
    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 1210-0114. 
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: DOL-EBSA.
    Title of Collection: Disclosures by Insurers to General Account 
Policyholders.
    OMB Control Number: 1210-0114.
    Affected Public: Private Sector--Businesses or other for profits.
    Total Estimated Number of Respondents: 104.
    Total Estimated Number of Responses: 96,223.
    Total Estimated Annual Burden Hours: 408,948.
    Total Estimated Annual Other Costs Burden: $33,678.

    Dated: March 14, 2012.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2012-6568 Filed 3-16-12; 8:45 am]
BILLING CODE 4510-29-P

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