Agency Information Collection Activities; Submission for OMB Review; Comment Request; Disclosures by Insurers to General Account Policyholders, 30736-30737 [2015-12955]

Download as PDF Federal Register / Vol. 80, No. 103 / Friday, May 29, 2015 / Notices [FR Doc. 2015–13025 Filed 5–28–15; 8:45 am] Lhorne on DSK2VPTVN1PROD with NOTICES BILLING CODE C DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Disclosures by Insurers to General Account Policyholders ACTION: Notice. The Department of Labor (DOL) is submitting the Employee Benefits Security Administration SUMMARY: VerDate Sep<11>2014 15:17 May 28, 2015 Jkt 235001 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 (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, without change, in accordance with the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq. Public comments on the ICR are invited. The OMB will consider all written comments that agency receives on or before June 29, 2015. DATES: E:\FR\FM\29MYN1.SGM 29MYN1 EN29MY15.006</GPH> 30736 Federal Register / Vol. 80, No. 103 / Friday, May 29, 2015 / Notices 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 free of charge from the RegInfo.gov Web site at https:// www.reginfo.gov/public/do/ PRAViewICR?ref_nbr=201505-1210-003 (this link will only become active on the day following publication of this notice) or by contacting Michel Smyth by telephone at 202–693–4129, TTY 202– 693–8064, (these are not toll-free numbers) or by email at DOL_PRA_ PUBLIC@dol.gov. Submit comments about this request by mail or courier to the Office of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL–EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW., Washington, DC 20503; by Fax: 202– 395–5806 (this is not a toll-free number); or by email: OIRA_ submission@omb.eop.gov. Commenters are encouraged, but not required, to send a courtesy copy of any comments by mail or courier to the U.S. Department of Labor-OASAM, Office of the Chief Information Officer, Attn: Departmental Information Compliance Management Program, Room N1301, 200 Constitution Avenue NW., Washington, DC 20210; or by email: DOL_PRA_PUBLIC@dol.gov. FOR FURTHER INFORMATION CONTACT: Michel Smyth by telephone at 202–693– 4129, TTY 202–693–8064, (these are not toll-free numbers) or by email at DOL_ PRA_PUBLIC@dol.gov. ADDRESSES: Authority: 44 U.S.C. 3507(a)(1)(D). This ICR seeks to extend PRA authority for the Disclosures by Insurers to General Account Policyholders information collection. 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 Lhorne on DSK2VPTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 15:17 May 28, 2015 Jkt 235001 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. Employee Retirement Income Security Act section 404(c) authorizes this information collection. See 29 U.S.C. 1104(c). 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 that does not display a valid Control Number. See 5 CFR 1320.5(a) and 1320.6. The DOL obtains OMB approval for this information collection under Control Number 1210–0114. OMB authorization for an ICR cannot be for more than three (3) years without renewal, and the current approval for this collection is scheduled to expire on June 30, 2015. The DOL seeks to extend PRA authorization for this information collection for three (3) more years, without any change to existing requirements. The DOL notes that existing information collection requirements submitted to the OMB receive a month-to-month extension while they undergo review. For additional substantive information about this ICR, see the related notice published in the Federal Register on October 15, 2014 (79 FR 61903). 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 thirty (30) days of publication of this notice in the Federal Register. In order to help ensure appropriate consideration, comments should mention 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; PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 30737 • 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: 397. Total Estimated Number of Responses: 32,000. Total Estimated Annual Time Burden: 135,000 hours. Total Estimated Annual Other Costs Burden: $12,000. Dated: May 22, 2015. Michel Smyth, Departmental Clearance Officer. [FR Doc. 2015–12955 Filed 5–28–15; 8:45 am] BILLING CODE 4510–29–P NATIONAL ARCHIVES AND RECORDS ADMINISTRATION Information Security Oversight Office [NARA–2015–044] National Industrial Security Program Policy Advisory Committee Meeting National Archives and Records Administration (NARA). ACTION: Notice of advisory committee meeting. AGENCY: In accordance with the Federal Advisory Committee Act (5 U.S.C. app 2) and implementing regulation 41 CFR 101–6, NARA announces a meeting of the National Industrial Security Program Policy Advisory Committee (NISPPAC) . DATES: The meeting will be on July 15, 2015, from 10 a.m. to 12 p.m. EDT. ADDRESSES: National Archives and Records Administration; 700 Pennsylvania Avenue NW.; Archivist’s Reception Room, Room 105; Washington, DC 20408. FOR FURTHER INFORMATION CONTACT: Robert Tringali, Program Analyst, by mail at ISOO, National Archives Building; 700 Pennsylvania Avenue NW.; Washington, DC 20408, by SUMMARY: E:\FR\FM\29MYN1.SGM 29MYN1

Agencies

[Federal Register Volume 80, Number 103 (Friday, May 29, 2015)]
[Notices]
[Pages 30736-30737]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-12955]


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DEPARTMENT OF LABOR

Office of the Secretary


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

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, without change, in 
accordance with the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 
3501 et seq. Public comments on the ICR are invited.

DATES: The OMB will consider all written comments that agency receives 
on or before June 29, 2015.

[[Page 30737]]


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 free of charge 
from the RegInfo.gov Web site at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201505-1210-003 (this link will only become active 
on the day following publication of this notice) or by contacting 
Michel Smyth by telephone at 202-693-4129, TTY 202-693-8064, (these are 
not toll-free numbers) or by email at DOL_PRA_PUBLIC@dol.gov.
    Submit comments about this request by mail or courier to the Office 
of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-
EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW., 
Washington, DC 20503; by Fax: 202-395-5806 (this is not a toll-free 
number); or by email: OIRA_submission@omb.eop.gov. Commenters are 
encouraged, but not required, to send a courtesy copy of any comments 
by mail or courier to the U.S. Department of Labor-OASAM, Office of the 
Chief Information Officer, Attn: Departmental Information Compliance 
Management Program, Room N1301, 200 Constitution Avenue NW., 
Washington, DC 20210; or by email: DOL_PRA_PUBLIC@dol.gov.

FOR FURTHER INFORMATION CONTACT: Michel Smyth by telephone at 202-693-
4129, TTY 202-693-8064, (these are not toll-free numbers) or by email 
at DOL_PRA_PUBLIC@dol.gov.

    Authority: 44 U.S.C. 3507(a)(1)(D).

SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for 
the Disclosures by Insurers to General Account Policyholders 
information collection. 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. Employee Retirement Income Security Act section 404(c) 
authorizes this information collection. See 29 U.S.C. 1104(c).
    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 that 
does not display a valid Control Number. See 5 CFR 1320.5(a) and 
1320.6. The DOL obtains OMB approval for this information collection 
under Control Number 1210-0114.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and the current approval for this collection is 
scheduled to expire on June 30, 2015. The DOL seeks to extend PRA 
authorization for this information collection for three (3) more years, 
without any change to existing requirements. The DOL notes that 
existing information collection requirements submitted to the OMB 
receive a month-to-month extension while they undergo review. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on October 15, 2014 (79 FR 
61903).
    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 thirty (30) days of publication of this 
notice in the Federal Register. In order to help ensure appropriate 
consideration, comments should mention 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: 397.
    Total Estimated Number of Responses: 32,000.
    Total Estimated Annual Time Burden: 135,000 hours.
    Total Estimated Annual Other Costs Burden: $12,000.

    Dated: May 22, 2015.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2015-12955 Filed 5-28-15; 8:45 am]
 BILLING CODE 4510-29-P

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