Agency Information Collection Activities; Submission for OMB Review; Comment Request; Plan Asset Transactions Determined by In-House Asset Managers Under Prohibited Transaction Class Exemption 1996-23, 50559-50560 [2016-18123]

Download as PDF Federal Register / Vol. 81, No. 147 / Monday, August 1, 2016 / Notices sradovich on DSK3GMQ082PROD with NOTICES communication, training or changes in operations might improve delivery of products or services. These collections will allow for ongoing, collaborative and actionable communications between the Agency and its customers and stakeholders. It will also allow feedback to contribute directly to the improvement of program management. Feedback collected under this generic clearance will provide useful information, but it will not yield data that can be generalized to the overall population. This type of generic clearance for qualitative information will not be used for quantitative information collections that are designed to yield reliably actionable results, such as monitoring trends over time or documenting program performance. Such data uses require more rigorous designs that address: The target population to which generalizations will be made, the sampling frame, the sample design (including stratification and clustering), the precision requirements or power calculations that justify the proposed sample size, the expected response rate, methods for assessing potential nonresponse bias, the protocols for data collection, and any testing procedures that were or will be undertaken prior fielding the study. Depending on the degree of influence the results are likely to have, such collections may still be eligible for submission for other generic mechanisms that are designed to yield quantitative results. The Agency received no comments in response to the 60-day notice published in the Federal Register FR 2010–32084, December 21, 2010. Below we provide the Department of Justice’s projected average estimates for the next three years: 1 Current Actions: New collection of information. Type of Review: New Collection. Affected Public: Individuals and Households, Businesses and Organizations, State, Local or Tribal Government. Average Expected Annual Number of Activities: 42. Average Number of Respondents per Activity: 51,500. Annual Responses: 309,000. 1 The 60-day notice included the following estimate of the aggregate burden hours for this generic clearance federal-wide: Average Expected Annual Number of Activities: 25,000. Average Number of Respondents per Activity: 200. Annual Responses: 5,000,000. Frequency of Response: Once per request. Average Minutes per Response: 30. Burden Hours: 2,500,000. VerDate Sep<11>2014 20:16 Jul 29, 2016 Jkt 238001 Frequency of Response: Once per request. Average Minutes per Response: 30 min. Burden Hours: 99,847. Federal Government Cost: $176,925. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid Office of Management and Budget control number. If additional information is required contact: Jerri Murray, Department Clearance Officer, United States Department of Justice, Justice Management Division, Policy and Planning Staff, Two Constitution Square, 145 N Street NE., Room 3E– 405B, Washington, DC 20530. Dated: July 27, 2016. Jerri Murray, Department Clearance Officer for PRA, U.S. Department of Justice. [FR Doc. 2016–18084 Filed 7–29–16; 8:45 am] BILLING CODE 4410–ML–P DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Plan Asset Transactions Determined by In-House Asset Managers Under Prohibited Transaction Class Exemption 1996–23 Office of the Secretary, DOL. Notice. AGENCY: ACTION: The Department of Labor (DOL) will submit the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ‘‘Plan Asset Transactions Determined by InHouse Asset Managers Under Prohibited Transaction Class Exemption 1996–23,’’ to the Office of Management and Budget (OMB) on July 30, 2016, 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 August 31, 2016. 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 http:// www.reginfo.gov/public/do/ SUMMARY: PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 50559 PRAViewICR?ref_nbr=201605-1210-007 (this link will only become active on July 31, 2016) or by contacting Michel Smyth by telephone at 202–693–4129, TTY 202–693–8064, (these are not tollfree 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: 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. SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for the Plan Asset Transactions Determined by In-House Asset Managers Under Prohibited Transaction Class Exemption 1996–23 (PTE 96–23) information collection. PTE 96–23 permits various parties in interest to an employee benefit plan to engage in transactions involving plan assets if, among other requirements, the assets are managed by an in-house asset manager (INHAM). The information collection requirements that are PTE 96–23 conditions include written policies and procedures by an INHAM and audit requirements. An independent auditor will use the written policies and procedures to determine the INHAM’s compliance with the exemption. An independent auditor will conduct an annual exemption audit and make a determination whether the INHAM is in compliance with the written policies and procedures and the objective requirements of the exemption. These information collections are designed to safeguard participants and beneficiaries in plans managed by INHAMS that are involved in transactions covered by the exemption. Employee Retirement Income Security Act of 1974 section 408(a) authorizes this information collection. See 29 U.S.C. 1108. This information collection is subject to the PRA. A Federal agency generally E:\FR\FM\01AUN1.SGM 01AUN1 sradovich on DSK3GMQ082PROD with NOTICES 50560 Federal Register / Vol. 81, No. 147 / Monday, August 1, 2016 / Notices 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 1210–0145. OMB authorization for an ICR cannot be for more than three (3) years without renewal, and 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 November 23, 2015 (80 FR 72990). 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 1210–0145. 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: Plan Asset Transactions Determined by In-House VerDate Sep<11>2014 20:16 Jul 29, 2016 Jkt 238001 Asset Managers Under Prohibited Transaction Class Exemption 1996–23. OMB Control Number: 1210–0145. Affected Public: Private Sector— businesses or other for-profits and notfor profit institutions. Total Estimated Number of Respondents: 20. Total Estimated Number of Responses: 20. Total Estimated Annual Time Burden: 940 hours. Total Estimated Annual Other Costs Burden: $400,000. Authority: 44 U.S.C. 3507(a)(1)(D). Dated: July 26, 2016. Michel Smyth, Departmental Clearance Officer. [FR Doc. 2016–18123 Filed 7–29–16; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Plan Asset Transactions Determined by Independent Qualified Professional Asset Managers Under Prohibited Transaction Exemption 1984–14 ACTION: Notice. The Department of Labor (DOL) will submit the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ‘‘Plan Asset Transactions Determined by Independent Qualified Professional Asset Managers Under Prohibited Transaction Exemption 1984–14,’’ to the Office of Management and Budget (OMB) on July 30, 2016, 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 August 31, 2016. 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 http:// www.reginfo.gov/public/do/ PRAViewICR?ref_nbr=201605-1210-004 (this link will only become active on July 31, 2016) or by contacting Michel Smyth by telephone at 202–693–4129, TTY 202–693–8064, (these are not tollSUMMARY: PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 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: 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). This ICR seeks to extend PRA authority for the Plan Asset Transactions Determined by Independent Qualified Professional Asset Managers Under Prohibited Transaction Exemption 1984–14 (PTE 84–14) information collection. PTE 84– 14 permits a party that is related to an employee benefit plan to engage in transactions involving plan assets if, among other conditions, the assets are managed by a qualified professional asset manager (QPAM) that is independent of the parties in interest. Additional relief is also available under specific circumstances that are fully addressed within the exemption. The information collection requirements that are conditions of the exemption include written policies and procedures by a QPAM and audit requirements. An independent auditor uses the written policies and procedures to determine whether the QPAM is in compliance with the written policies and procedures and whether the exemption conditions have been met. These information collections are designed to safeguard participants and beneficiaries in plans that are involved in transactions covered by the exemption. PTE 84–14 does not require any reporting or filing with the Federal government. Employee Retirement Income Security Act of 1974 section 408(a) authorizes this information collection. See 29 U.S.C. 1108. This information collection is subject to the PRA. A Federal agency generally cannot conduct or sponsor a collection SUPPLEMENTARY INFORMATION: E:\FR\FM\01AUN1.SGM 01AUN1

Agencies

[Federal Register Volume 81, Number 147 (Monday, August 1, 2016)]
[Notices]
[Pages 50559-50560]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18123]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Plan Asset Transactions Determined by In-House 
Asset Managers Under Prohibited Transaction Class Exemption 1996-23

AGENCY: Office of the Secretary, DOL.

ACTION: Notice.

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SUMMARY: The Department of Labor (DOL) will submit the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Plan Asset Transactions Determined 
by In-House Asset Managers Under Prohibited Transaction Class Exemption 
1996-23,'' to the Office of Management and Budget (OMB) on July 30, 
2016, 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 August 31, 2016.

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 http://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201605-1210-007 (this link will only become active 
on July 31, 2016) 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: 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.

SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for 
the Plan Asset Transactions Determined by In-House Asset Managers Under 
Prohibited Transaction Class Exemption 1996-23 (PTE 96-23) information 
collection. PTE 96-23 permits various parties in interest to an 
employee benefit plan to engage in transactions involving plan assets 
if, among other requirements, the assets are managed by an in-house 
asset manager (INHAM). The information collection requirements that are 
PTE 96-23 conditions include written policies and procedures by an 
INHAM and audit requirements. An independent auditor will use the 
written policies and procedures to determine the INHAM's compliance 
with the exemption. An independent auditor will conduct an annual 
exemption audit and make a determination whether the INHAM is in 
compliance with the written policies and procedures and the objective 
requirements of the exemption. These information collections are 
designed to safeguard participants and beneficiaries in plans managed 
by INHAMS that are involved in transactions covered by the exemption. 
Employee Retirement Income Security Act of 1974 section 408(a) 
authorizes this information collection. See 29 U.S.C. 1108.
    This information collection is subject to the PRA. A Federal agency 
generally

[[Page 50560]]

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 1210-0145.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and 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 November 23, 2015 (80 FR 72990).
    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 1210-0145. 
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: Plan Asset Transactions Determined by In-House 
Asset Managers Under Prohibited Transaction Class Exemption 1996-23.
    OMB Control Number: 1210-0145.
    Affected Public: Private Sector--businesses or other for-profits 
and not-for profit institutions.
    Total Estimated Number of Respondents: 20.
    Total Estimated Number of Responses: 20.
    Total Estimated Annual Time Burden: 940 hours.
    Total Estimated Annual Other Costs Burden: $400,000.

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

    Dated: July 26, 2016.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2016-18123 Filed 7-29-16; 8:45 am]
 BILLING CODE 4510-29-P