Proposed Information Collection Request Submitted for Public Comment; Evaluating the Effectiveness of the 408(b)(2) Disclosure Requirements, 14085-14087 [2014-04867]
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Federal Register / Vol. 79, No. 48 / Wednesday, March 12, 2014 / Notices
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Interior, BOEM is authorized, pursuant
to section 8(k)(2) of the OCS Lands Act
(43 U.S.C. 1337(k)(2)), to convey rights
to OCS sand, gravel, and shell resources
by negotiated noncompetitive agreement
(NNA) for use in shore protection and
beach and coastal restoration, or for use
in construction projects funded in
whole or part by, or authorized by, the
Federal Government.
Background
Since 1994, 43 shore protection or
beach and coastal restoration projects
have been completed using OCS sand
resources, conveying more than 77
million cubic yards of OCS material and
restoring more than 232 miles of
shoreline. Recently, the program has
seen an increase in demand for OCS
resources due to the decreasing
availability of sand sources located in
State waters and an increase in coastal
storm intensity, duration, and
frequency. In order for BOEM to
continue to meet the needs of local,
State and regional entities, information
regarding upcoming projects must be
acquired to plan for future projects and
anticipated workload. Therefore, BOEM
will issue calls for information about
needed resources and locations from
interested parties to develop and
maintain a project schedule.
This ICR addresses the information
needed from States, local governments,
Federal agencies, environmental and
other interest organizations, and all
other interested parties to update and
maintain a NNA project schedule. It
includes the potential for an annual call
for information and the potential for a
call in response to an emergency
declaration, such as a tropical storm. In
order to meet the needs of the States
under the current BOEM staff and
funding resources, BOEM may request
the relevant States to prioritize their
own projects based on several criteria
including likelihood of project funding
and progress of environmental work.
The information provided by States will
also help BOEM determine appropriate
future resource allocation, identify
potential conflicts of use, conduct
environmental analyses, develop NNAs,
and meet all necessary environmental
and legal requirements.
BOEM’s calls for information will
request interested parties to submit a
description of their proposed projects
for which OCS sand, gravel, and shell
resources will be used. The description
must include the offshore borrow sites
if known; the estimated date of
construction; a short description of
current project funding; the name of a
primary point of contact with that
person’s mailing address, telephone
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17:51 Mar 11, 2014
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number, and email address; as well as
any additional information concerning
the status of the project that would be
useful to BOEM. This information may
include detailed maps; geospatial data
and coordinates of desired resources
and sites that would be nourished; a
description of the environmental impact
documents that have been completed to
date concerning any portion of the
project; a cited reference list; status of
geological and geophysical permit (if
required); information concerning
known or suspected archaeological or
historic artifacts; interpretations of
geology and extent of sand areas; known
volumes of sand resource site; historical
data related to the proposed borrow or
placement area; and a description of the
status of Federal, State, and/or local
permits required for the project.
With this renewal, we are also
including a provision for a call in
response to emergency declarations,
such as a tropical storm. Hurricane
Sandy demonstrated BOEM’s need for
accurate and timely information
following a natural disaster declaration.
Therefore, we are increasing the
estimated hour burden for this
collection.
We will protect information from
respondents considered proprietary
under the Freedom of Information Act
(5 U.S.C. 552) and its implementing
regulations (43 CFR part 2). No items of
a sensitive nature are collected.
Responses are required to obtain or
retain benefits.
Frequency: Annually and on occasion.
Description of Respondents: Potential
respondents primarily comprise States,
local governments, and other interested
parties.
Estimated Reporting and
Recordkeeping Hour Burden: We are
estimating that the annual reporting
burden for this collection is about 200
hours, assuming an emergency
declaration is made each year.
Individual Entity Compilation: 25
entities × 1 hour/entity × 2 responses/
year = 50 hours; Individual State
Compilation: 15 States × 5 hours/State
× 2 responses/year = 150 hours (50
county hours + 150 State hours = 200
total burden hours).
Estimated Reporting and
Recordkeeping Non-Hour Cost Burden:
We have identified no non-hour
paperwork cost burdens for this
collection.
Public Disclosure Statement: The PRA
(44 U.S.C. 3501, et seq.) provides that an
agency may not conduct or sponsor a
collection of information unless it
displays a currently valid OMB control
number. Until OMB approves a
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14085
collection of information, you are not
obligated to respond.
Comments: Section 3506(c)(2)(A) of
the PRA (44 U.S.C. 3501, et seq.,)
requires each agency ‘‘. . . to provide
notice . . . and otherwise consult with
members of the public and affected
agencies concerning each proposed
collection of information . . .’’ Agencies
must specifically solicit comments to:
(a) Evaluate whether the collection is
necessary or useful; (b) evaluate the
accuracy of the burden of the proposed
collection of information; (c) enhance
the quality, usefulness, and clarity of
the information to be collected; and (d)
minimize the burden on the
respondents, including the use of
technology.
To comply with the public
consultation process, on October 3,
2013, BOEM published a Federal
Register notice (78 FR 61381)
announcing that we would submit this
ICR to OMB for approval. This notice
provided the required 60-day comment
period. We received no comments in
response.
Public Availability of Comments:
Before including your address, phone
number, email address, or other
personal identifying information in your
comment, you should be aware that
your entire comment—including your
personal identifying information—may
be made publicly available at any time.
While you can ask us in your comment
to withhold your personal identifying
information from public review, we
cannot guarantee that we will be able to
do so.
Dated: February 27, 2014.
Deanna Meyer-Pietruszka,
Chief, Office of Policy, Regulations, and
Analysis.
[FR Doc. 2014–05300 Filed 3–11–14; 8:45 am]
BILLING CODE 4310–MR–P
DEPARTMENT OF LABOR
Proposed Information Collection
Request Submitted for Public
Comment; Evaluating the
Effectiveness of the 408(b)(2)
Disclosure Requirements
Employee Benefits Security
Administration (EBSA) and the Office of
the Assistant Secretary for Policy/Chief
Evaluation Office, Labor.
ACTION: Proposed collection; 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
SUMMARY:
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Federal Register / Vol. 79, No. 48 / Wednesday, March 12, 2014 / Notices
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
Department’s Employee Benefits
Security Administration (EBSA) and the
Office of the Assistant Secretary for
Policy/Chief Evaluation Office (CEO) are
soliciting comments on the proposed
information collection request (ICR)
described below. A copy of the ICR may
be obtained by contacting the office
listed in the ADDRESSES section of this
notice.
DATES: Written comments must be
submitted to the office listed in the
addressee section below on or before
May 12, 2014.
ADDRESSES: Copies of the proposed
collection of information can be
obtained and comments may be
forwarded by either one of the following
methods: Email: richie.celeste.j@dol.gov;
Mail or Courier: Office of the Assistant
Secretary for Policy/Chief Evaluation
Office, U.S. Department of Labor, Room
S–2312, 200 Constitution Avenue NW.,
Washington, DC 20210. Instructions:
Please submit one copy of your
comments by only one method. All
submissions received should reference
the agency name and title of the
proposed information collection.
Commenters are strongly encouraged to
transmit their comments electronically
via email or to submit them by mail
early. Comments, including any
personal information provided, become
a matter of public record. They will also
be summarized and/or included in the
request for OMB approval of the
information collection request.
FOR FURTHER INFORMATION CONTACT:
Contact Celeste Richie by telephone at
202–693–5076 (this is not a toll-free
number) or by email at richie.celeste.j@
dol.gov.
SUPPLEMENTARY INFORMATION: This
notice requests public comment on the
Department’s proposed collection of
information titled ‘‘Evaluating the
Effectiveness of the 408(b)(2) Disclosure
Requirements.’’ As further described
below, the collection of information is
designed to explore current practices
and effects of EBSA’s rule that was
issued in February 2012, known as the
‘‘408(b)(2) regulation,’’ which requires
covered service providers (‘‘CSPs’’) to
pension plans to provide specific
disclosures to responsible plan
fiduciaries (‘‘RPFs’’) regarding the CSP’s
compensation for the services. In
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17:51 Mar 11, 2014
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addition, EBSA intends to gather
information about the utility of a guide,
summary, or similar tool to help plan
fiduciaries identify and understand the
disclosures. A summary of the ICR and
current burden estimates follows:
Agency: Employee Benefits Security
Administration (EBSA) and the Office of
the Assistant Secretary for Policy/Chief
Evaluation Office (OASP/CEO),
Department of Labor.
Title: ‘‘Evaluating the Effectiveness of
the 408(b)(2) Disclosure Requirements.’’
Type of Review: New collection of
information.
OMB Number: 1210–NEW.
Respondents: 70 to 100 Plan Sponsors
and other Fiduciaries.
Total Burden Hours: Approximately
70 to 200 hours over one year.
Total Annual Other Burden Cost: $0.
Description: The Employee
Retirement Income Security Act of 1974,
as amended (ERISA) requires plan
fiduciaries, when selecting and
monitoring service providers and plan
investments, to act prudently and solely
in the interest of the plan’s participants
and beneficiaries. Responsible plan
fiduciaries also must ensure that
arrangements with their service
providers are ‘‘reasonable’’ and that
only ‘‘reasonable’’ compensation is paid
for services. Fundamental to the ability
of fiduciaries to discharge these
obligations is obtaining information
sufficient to enable them to make
informed decisions about an employee
benefit plan’s services, the costs of such
services, and the service providers.
In February 2012, EBSA issued the
ERISA section 408(b)(2) final
regulations, which require CSPs to
ERISA-covered pension plans to provide
specified information to assist RPFs in
assessing the reasonableness of the
compensation paid for services and the
conflicts of interest that may affect a
service provider’s performance of
services. In the preamble to the final
rule, EBSA encouraged CSPs to provide
RPFs, especially those to small- and
medium-size plans, with a guide,
summary, or similar tool to assist RPFs
in identifying all of the disclosures
required under the final rule,
particularly when service arrangements
and related compensation are complex
and information is disclosed in multiple
documents. EBSA did not adopt such a
guide requirement as part of the final
rule but included a sample guide as an
appendix to the final rule that can be
used on a voluntary basis by CSPs as a
model for such a guide. In the preamble
to the final rule, EBSA stated that it
intends to publish a notice of proposed
rulemaking in the near future under
which CSPs may be required to furnish
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a guide or similar tool to assist RPFs’
reviews of the disclosures. EBSA is
publishing a notice of proposed
rulemaking that would require CSPs to
provide RPFs with a guide elsewhere in
today’s issue of the Federal Register.
In connection with the issuance of the
notice of proposed rulemaking, EBSA
and the CEO intend to request approval
from the Office of Management and
Budget (OMB) for the collection of data
for the project titled ‘‘Evaluating the
Effectiveness of the 408(b)(2) Disclosure
Requirements.’’ The project is designed
to explore current practices and effects
of EBSA’s final regulation and to gather
information about the need for a guide,
summary, or similar tool to help RPFs
navigate and understand the
disclosures.
EBSA and CEO intend to conduct
approximately eight to ten focus group
sessions with approximately 70 to 100
RPFs to small pension plans (those with
less than 100 participants). They will be
asked to provide information including
the following: (1) Their role with respect
to their plan; (2) the number of service
providers hired by the plan; (3) whether
they are aware of and understand the
disclosures mandated by the 408(b)(2)
final regulation; (4) their experience
with receiving the disclosures; (5)
whether they were able to find
information regarding the services that
would be provided and the costs of
those services; (6) whether their review
of the disclosures impacted their
decision-making with regard to hiring,
monitoring, or retaining service
providers or changing plan investment
options; (7) whether their CSPs provide
a guide or similar organizational tool to
help find specific information within
the disclosures; and (8) whether a guide
to the required disclosures would be
beneficial to them, and if so, how much
they would be willing to pay to receive
a guide.
EBSA intends to use information
collected from the focus groups to: (1)
Assess responsible plan fiduciaries’
experience in receiving the 408(b)(2)
regulation’s required disclosures; (2)
assess the effectiveness of these
disclosures in helping plan fiduciaries
make decisions; (3) determine how well
plan fiduciaries understood the
disclosures, especially in the small plan
marketplace (less than 100 participants);
and (4) evaluate whether, and how, a
guide, summary, or similar tool would
help fiduciaries understand the
disclosures.
Focus of Comments
The Department is particularly
interested in comments that: (1)
Evaluate whether the proposed
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Federal Register / Vol. 79, No. 48 / Wednesday, March 12, 2014 / Notices
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility; (2) 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;
(3) enhance the quality, utility, and
clarity of the information to be
collected; and (4) 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 request will be summarized and/or
included in the request for OMB
approval; they will also become a matter
of public record.
[Notice (14–026)]
NASA Applied Sciences Advisory
Committee Meeting
National Aeronautics and
Space Administration.
ACTION: Notice of meeting.
AGENCY:
In accordance with the
Federal Advisory Committee Act, Public
Law 92–463, as amended, the National
Aeronautics and Space Administration
(NASA) announces a meeting of the
Applied Sciences Advisory Committee.
The meeting will be held for the
purpose of soliciting, from the scientific
community and other persons, scientific
and technical information relevant to
program planning.
DATES: Thursday, April 17, 2014, 1:00
p.m. to 4:00 p.m., Local Time.
FOR FURTHER INFORMATION CONTACT: Mr.
Peter Meister, Science Mission
Directorate, NASA Headquarters,
Washington, DC 20546, (202) 358–1557,
fax (202) 358–4118, or
peter.g.meister@nasa.gov.
SUMMARY:
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NATIONAL FOUNDATION ON THE
ARTS AND THE HUMANITIES
Pursuant to section 10(a)(2) of
the Federal Advisory Committee Act
(Pub. L. 92–463), as amended, notice is
hereby given that a meeting of the
National Council on the Arts will be
held at the Nancy Hanks Center, 1100
Pennsylvania Avenue NW., Washington,
DC 20506. This meeting also will be
webcast. Agenda times are approximate.
DATES: March 28, 2014 from 9:00 a.m. to
11:30 a.m.. in Room M–09.
FOR FURTHER INFORMATION CONTACT:
Office of Public Affairs, National
Endowment for the Arts, Washington,
DC 20506, at 202/682–5570.
SUPPLEMENTARY INFORMATION: The
meeting, on Friday, March 28th will be
open to the public on a space available
basis. The meeting will begin with
opening remarks, and voting on
recommendations for funding and
rejection and guidelines, followed by
updates by the Acting Chairman. There
also will be the following presentations
(times are approximate): from 9:45 a.m.
to 10:15 a.m.—a retrospective of recent
Arts Endowment activities, followed by
Council discussion; from 10:15 a.m. to
11:15 a.m.—presentations from recent
Arts Endowment grantees; from 11:15
a.m. to 11:30 a.m.—concluding remarks
and voting results. The meeting will
adjourn at 11:30 a.m.
For information about webcasting of
the open session of this meeting, go to
SUMMARY:
NATIONAL AERONAUTICS AND
SPACE ADMINISTRATION
This
meeting will be open to the public
telephonically and by WebEx. Any
interested person may call the USA toll
free conference call number 1–866–762–
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BILLING CODE 7510–13–P
National Endowment for the
Arts, National Foundation on the Arts
and Humanities.
ACTION: Notice of meeting.
BILLING CODE 4510–23–P
17:51 Mar 11, 2014
[FR Doc. 2014–05405 Filed 3–11–14; 8:45 am]
AGENCY:
[FR Doc. 2014–04867 Filed 3–11–14; 8:45 am]
VerDate Mar<15>2010
Patricia D. Rausch,
Advisory Committee Management Officer,
National Aeronautics and Space
Administration.
National Council on the Arts 181st
Meeting
James H. Moore, Jr.,
Deputy Assistant Secretary for Policy, U.S.
Department of Labor.
SUPPLEMENTARY INFORMATION:
9048, passcode 476274, to participate in
this meeting by telephone. The WebEx
link is https://nasa.webex.com/,
meeting number 998 758 283, password
@April17. The agenda for the meeting
includes the following topics:
—Applied Sciences Program Update,
—Applied Science Budget Briefing,
—Missions and Applications.
It is imperative that the meeting be
held on these dates to accommodate the
scheduling priorities of the key
participants.
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14087
https://arts.gov/event/2014/nationalcouncil-arts-meeting-march-28-2014.
If, in the course of the open session
discussion, it becomes necessary for the
Council to discuss non-public
commercial or financial information of
intrinsic value, the Council will go into
closed session pursuant to subsection
(c)(4) of the Government in the
Sunshine Act, 5 U.S.C. 552b, and in
accordance with the February 15, 2012
determination of the Chairman.
Additionally, discussion concerning
purely personal information about
individuals, such as personal
biographical and salary data or medical
information, may be conducted by the
Council in closed session in accordance
with subsection (c)(6) of 5 U.S.C. 552b.
Any interested persons may attend, as
observers, Council discussions and
reviews that are open to the public. If
you need special accommodations due
to a disability, please contact the Office
of Accessibility, National Endowment
for the Arts, 1100 Pennsylvania Avenue
NW., Washington, DC 20506, 202/682–
5733, Voice/T.T.Y. 202/682–5496, at
least seven (7) days prior to the meeting.
Dated: March 7, 2014.
Kathy Plowitz-Worden,
Panel Coordinator, Office of Guidelines and
Panel Operations.
[FR Doc. 2014–05406 Filed 3–11–14; 8:45 am]
BILLING CODE 7537–01–P
NATIONAL SCIENCE FOUNDATION
Advisory Committee for Social,
Behavioral and Economic Sciences;
Notice of Meeting
In accordance with Federal Advisory
Committee Act (Pub. L. 92–463, as
amended), the National Science
Foundation announces the following
meeting:
Name: Advisory Committee for
Social, Behavioral and Economic
Sciences (# 1171)
Date/Time: April 3, 2014; 9:00 a.m. to
5:05 p.m., April 4, 2014; 9:00 a.m. to
12:15 p.m.
Place: National Science Foundation,
4201 Wilson Blvd., Stafford I, Room
110, Arlington, VA 22230
Type of Meeting: OPEN
Contact Person: Ms. Lisa Jones, Office
of the Assistant Director, Directorate for
Social, Behavioral and Economic
Sciences, National Science Foundation,
4201 Wilson Boulevard, Room 905,
Arlington, Virginia 22230, 703–292–
8700
Summary of Minutes: May be
obtained from contact person listed
above.
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]]>Agencies
[Federal Register Volume 79, Number 48 (Wednesday, March 12, 2014)]
[Notices]
[Pages 14085-14087]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-04867]
=======================================================================
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DEPARTMENT OF LABOR
Proposed Information Collection Request Submitted for Public
Comment; Evaluating the Effectiveness of the 408(b)(2) Disclosure
Requirements
AGENCY: Employee Benefits Security Administration (EBSA) and the Office
of the Assistant Secretary for Policy/Chief Evaluation Office, Labor.
ACTION: Proposed collection; 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
[[Page 14086]]
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 Department's
Employee Benefits Security Administration (EBSA) and the Office of the
Assistant Secretary for Policy/Chief Evaluation Office (CEO) are
soliciting comments on the proposed information collection request
(ICR) described below. A copy of the ICR may be obtained by contacting
the office listed in the ADDRESSES section of this notice.
DATES: Written comments must be submitted to the office listed in the
addressee section below on or before May 12, 2014.
ADDRESSES: Copies of the proposed collection of information can be
obtained and comments may be forwarded by either one of the following
methods: Email: richie.celeste.j@dol.gov; Mail or Courier: Office of
the Assistant Secretary for Policy/Chief Evaluation Office, U.S.
Department of Labor, Room S-2312, 200 Constitution Avenue NW.,
Washington, DC 20210. Instructions: Please submit one copy of your
comments by only one method. All submissions received should reference
the agency name and title of the proposed information collection.
Commenters are strongly encouraged to transmit their comments
electronically via email or to submit them by mail early. Comments,
including any personal information provided, become a matter of public
record. They will also be summarized and/or included in the request for
OMB approval of the information collection request.
FOR FURTHER INFORMATION CONTACT: Contact Celeste Richie by telephone at
202-693-5076 (this is not a toll-free number) or by email at
richie.celeste.j@dol.gov.
SUPPLEMENTARY INFORMATION: This notice requests public comment on the
Department's proposed collection of information titled ``Evaluating the
Effectiveness of the 408(b)(2) Disclosure Requirements.'' As further
described below, the collection of information is designed to explore
current practices and effects of EBSA's rule that was issued in
February 2012, known as the ``408(b)(2) regulation,'' which requires
covered service providers (``CSPs'') to pension plans to provide
specific disclosures to responsible plan fiduciaries (``RPFs'')
regarding the CSP's compensation for the services. In addition, EBSA
intends to gather information about the utility of a guide, summary, or
similar tool to help plan fiduciaries identify and understand the
disclosures. A summary of the ICR and current burden estimates follows:
Agency: Employee Benefits Security Administration (EBSA) and the
Office of the Assistant Secretary for Policy/Chief Evaluation Office
(OASP/CEO), Department of Labor.
Title: ``Evaluating the Effectiveness of the 408(b)(2) Disclosure
Requirements.''
Type of Review: New collection of information.
OMB Number: 1210-NEW.
Respondents: 70 to 100 Plan Sponsors and other Fiduciaries.
Total Burden Hours: Approximately 70 to 200 hours over one year.
Total Annual Other Burden Cost: $0.
Description: The Employee Retirement Income Security Act of 1974,
as amended (ERISA) requires plan fiduciaries, when selecting and
monitoring service providers and plan investments, to act prudently and
solely in the interest of the plan's participants and beneficiaries.
Responsible plan fiduciaries also must ensure that arrangements with
their service providers are ``reasonable'' and that only ``reasonable''
compensation is paid for services. Fundamental to the ability of
fiduciaries to discharge these obligations is obtaining information
sufficient to enable them to make informed decisions about an employee
benefit plan's services, the costs of such services, and the service
providers.
In February 2012, EBSA issued the ERISA section 408(b)(2) final
regulations, which require CSPs to ERISA-covered pension plans to
provide specified information to assist RPFs in assessing the
reasonableness of the compensation paid for services and the conflicts
of interest that may affect a service provider's performance of
services. In the preamble to the final rule, EBSA encouraged CSPs to
provide RPFs, especially those to small- and medium-size plans, with a
guide, summary, or similar tool to assist RPFs in identifying all of
the disclosures required under the final rule, particularly when
service arrangements and related compensation are complex and
information is disclosed in multiple documents. EBSA did not adopt such
a guide requirement as part of the final rule but included a sample
guide as an appendix to the final rule that can be used on a voluntary
basis by CSPs as a model for such a guide. In the preamble to the final
rule, EBSA stated that it intends to publish a notice of proposed
rulemaking in the near future under which CSPs may be required to
furnish a guide or similar tool to assist RPFs' reviews of the
disclosures. EBSA is publishing a notice of proposed rulemaking that
would require CSPs to provide RPFs with a guide elsewhere in today's
issue of the Federal Register.
In connection with the issuance of the notice of proposed
rulemaking, EBSA and the CEO intend to request approval from the Office
of Management and Budget (OMB) for the collection of data for the
project titled ``Evaluating the Effectiveness of the 408(b)(2)
Disclosure Requirements.'' The project is designed to explore current
practices and effects of EBSA's final regulation and to gather
information about the need for a guide, summary, or similar tool to
help RPFs navigate and understand the disclosures.
EBSA and CEO intend to conduct approximately eight to ten focus
group sessions with approximately 70 to 100 RPFs to small pension plans
(those with less than 100 participants). They will be asked to provide
information including the following: (1) Their role with respect to
their plan; (2) the number of service providers hired by the plan; (3)
whether they are aware of and understand the disclosures mandated by
the 408(b)(2) final regulation; (4) their experience with receiving the
disclosures; (5) whether they were able to find information regarding
the services that would be provided and the costs of those services;
(6) whether their review of the disclosures impacted their decision-
making with regard to hiring, monitoring, or retaining service
providers or changing plan investment options; (7) whether their CSPs
provide a guide or similar organizational tool to help find specific
information within the disclosures; and (8) whether a guide to the
required disclosures would be beneficial to them, and if so, how much
they would be willing to pay to receive a guide.
EBSA intends to use information collected from the focus groups to:
(1) Assess responsible plan fiduciaries' experience in receiving the
408(b)(2) regulation's required disclosures; (2) assess the
effectiveness of these disclosures in helping plan fiduciaries make
decisions; (3) determine how well plan fiduciaries understood the
disclosures, especially in the small plan marketplace (less than 100
participants); and (4) evaluate whether, and how, a guide, summary, or
similar tool would help fiduciaries understand the disclosures.
Focus of Comments
The Department is particularly interested in comments that: (1)
Evaluate whether the proposed
[[Page 14087]]
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (2) 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; (3)
enhance the quality, utility, and clarity of the information to be
collected; and (4) 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 request will be summarized
and/or included in the request for OMB approval; they will also become
a matter of public record.
James H. Moore, Jr.,
Deputy Assistant Secretary for Policy, U.S. Department of Labor.
[FR Doc. 2014-04867 Filed 3-11-14; 8:45 am]
BILLING CODE 4510-23-P
