Notice of Availability, Request for Comments, 13719-13720 [2019-06667]

Download as PDF Federal Register / Vol. 84, No. 66 / Friday, April 5, 2019 / Notices khammond on DSKBBV9HB2PROD with NOTICES • 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. Overview of This Information Collection (1) Type of Information Collection: Reinstatement, without change, of a previously approved collection for which approval has expired. (2) Title of the Form/Collection: The National Instant Criminal Background Check System (NICS) Voluntary Appeal File (VAF) Brochure and the online application process. (3) Agency form number: 1110–0043. (4) Affected public who will be asked or required to respond, as well as a brief abstract: Primary: Potential firearm purchasers. If a potential purchaser is delayed or denied a firearm and successfully appeals the decision, the NICS Section cannot retain a record of the overturned appeal or the supporting documentation. If the record is not able to be updated or the fingerprints are non-identical to a disqualifying record used in the evaluation, the purchaser continues to be delayed or denied, and if that individual appeals the decision, the documentation/information (e.g., fingerprint cards, court records, pardons, etc.) must be resubmitted for every subsequent purchase. The VAF was established per 28 CFR, Part 25.10(g), for this reason. By this process, applicants can voluntarily request the NICS Section maintain information about themselves in the VAF to prevent future extended delays or denials of a firearm transfer. (5) An estimate of the total number of respondents and the amount of time estimated for an average respondent to respond: It is estimated the time it takes to read, complete, and upload documents is 30 minutes. Travel time to the fingerprinting facility and post office VerDate Sep<11>2014 18:46 Apr 04, 2019 Jkt 247001 is not factored in the time estimate. The NICS Section estimates 4,000 respondents yearly. (6) An estimate of the total public burden (in hours) associated with the collection: With 4,000 applicants responding, the formula for applicant burden hours would be as follows: (4,000 respondents × .5 hours) = 2,000 hours. If additional information is required contact: Melody Braswell, Department Clearance Officer, United States Department of Justice, Justice Management Division, Policy and Planning Staff, Two Constitution Square, 145 N Street NE, Suite 3E.405B, Washington, DC 20530. Dated: April 2, 2019. Melody Braswell, Department Clearance Officer, PRA, U.S. Department of Justice. [FR Doc. 2019–06743 Filed 4–4–19; 8:45 am] BILLING CODE 4410–02–P DEPARTMENT OF LABOR Employee Benefits Security Administration Notice of Availability, Request for Comments Employee Benefits Security Administration, Department of Labor. ACTION: Notice of availability, request for comments. AGENCY: The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995, provides the general public and Federal agencies with an opportunity to comment on 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 Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed renewal of the information collection requests (ICRs) contained in the documents described below. A copy of the ICRs may be obtained by contacting the office listed in the ADDRESSES section of this notice. ICRs also are available at reginfo.gov (http://www.reginfo.gov/ public/do/PRAMain). DATES: Written comments must be submitted to the office shown in the Addresses section on or before June 4, 2019. SUMMARY: PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 13719 G. Christopher Cosby, Department of Labor, Employee Benefits Security Administration, 200 Constitution Avenue NW, Room N– 5718, Washington, DC 20210, ebsa.opr@ dol.gov, (202) 693–8410, FAX (202) 219–4745 (these are not toll-free numbers). SUPPLEMENTARY INFORMATION: This notice requests public comment on the Department’s request for the Office of Management and Budget’s (OMB) approval of the ICRs contained in Prohibited Transaction Exemptions (PTEs) 1975–1, 1984–24, and 1986–128. The PTEs provide exemptions from the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA), and the Internal Revenue Code of 1986 (Code) for specified types of transactions.1 The Department is proposing to renew the requirements of the ICRs contained in PTEs 75–1, 84–24, and 86–128 in place prior to 2016. The Department notes that an agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICRs and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Exemption 1975–1, Exemptions from Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefit Plans and Certain BrokerDealers, Reporting Dealers, and Banks. OMB Number: 1210–0092. Affected Public: Businesses or other for-profits, Not-for-profit institutions. Respondents: 6,116. Responses: 6,116. Estimated Total Burden Hours: 1,019. Estimated Total Burden Cost (Operating and Maintenance): $0. Description: PTE 1975–1 provides exemptions for transactions between employee benefit plans and individual retirement accounts (IRAs) and brokerdealers, reporting dealers and banks, relating to securities purchases and sales, provided specified conditions are met. The exempted transactions include an employee benefit plan or IRA’s purchase of securities from brokerdealers’ inventories of stocks, from underwriting syndicates in which a fiduciary is a member, from banks, from ADDRESSES: 1 They were amended as part of the Department’s 2016 final rule defining who is a ‘‘fiduciary’’ under ERISA and the Code, which was published in the Federal Register on April 8, 2016. The final rule and PTE amendments were vacated by the Fifth Circuit Court of Appeal’s decision in Chamber of Commerce v. Department of Labor, 885 F.3d 360 (5th Cir. 2018). E:\FR\FM\05APN1.SGM 05APN1 khammond on DSKBBV9HB2PROD with NOTICES 13720 Federal Register / Vol. 84, No. 66 / Friday, April 5, 2019 / Notices reporting dealers, and from a marketmaker that is a fiduciary. The exempted transactions also include, under certain conditions, a plan’s or IRA’s accepting an extension of credit from a brokerdealer for the purpose of facilitating settlement of a securities transaction. Among other conditions, PTE 1975–1 requires plans and IRAs involved in the transactions to maintain adequate records of the transactions for a period of six years. The Department previously submitted an ICR to OMB for approval of this information collection and received OMB approval under OMB Control No. 1210–0092. The current approval is scheduled to expire on June 30, 2019. Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Exemption 84–24 for Certain Transactions Involving Insurance Agents and Brokers, Pension Consultants, Insurance Companies, Investment Companies and Investment Company Principal Underwriters. OMB Number: 1210–0158. Affected Public: Businesses or other for-profits, Not-for-profit institutions. Respondents: 2,789. Responses: 227,068. Estimated Total Burden Hours: 19,194. Estimated Total Burden Cost (Operating and Maintenance): $98,115. Description: PTE 1984–24, as amended, provides an exemption for insurance agents, insurance brokers and pension consultants to receive a sales commission from an insurance company in connection with the purchase, with plan or IRA assets, of an insurance or annuity contract. Relief is also provided for a principal underwriter for an investment company registered under the Investment Company Act of 1940 to receive a sales commission in connection with the purchase, with plan or IRA assets, of securities issued by the investment company. The PTE requires the insurance agents, insurance brokers, pension consultants and investment company principal underwriters relying on the exemption to obtain authorization from an independent plan fiduciary, provide certain disclosures, including disclosure of the commission payment, necessary for the independent plan fiduciary to evaluate whether or not to grant authorization, and maintain records necessary to demonstrate that the conditions of the exemption have been met. The Department previously submitted an ICR to OMB for approval of this information collection and received OMB approval under OMB VerDate Sep<11>2014 20:19 Apr 04, 2019 Jkt 247001 Control No. 1210–0158. The current approval is scheduled to expire on June 30, 2019. Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Exemption 1986–128 for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers. OMB Number: 1210–0059. Affected Public: Businesses or other for-profits, Not-for-profit institutions. Respondents: 11,894. Responses: 819,448. Estimated Total Burden Hours: 57,443. Estimated Total Burden Cost (Operating and Maintenance): $661,045. Description: PTE 1986–128, as amended, permits persons who serve as fiduciaries for employee benefit plans and IRAs to effect or execute securities transactions on behalf of the plans and IRAs. The exemption also allows a fiduciary to act as an agent in an agency cross transaction for an employee benefit plan or IRA and one or more other parties to the transaction and receive reasonable compensation from the other party. The PTE requires the fiduciary relying on the exemption to obtain written authorization executed in advance by an independent fiduciary of the employee benefit plan whose assets are involved in the transaction. Within three months prior to the authorization, the fiduciary must furnish the independent fiduciary with any reasonably available information necessary for the independent fiduciary to determine whether an authorization should be made. The information must include a copy of the exemption, a form for termination, and a description of the fiduciary’s brokerage placement practices. The fiduciary must also provide a termination form to the independent fiduciary annually so that the independent fiduciary may terminate the authorization without penalty to the plan; failure to return the form constitutes continuing authorization. The fiduciary must report all transactions to the independent fiduciary, either by confirmation slips or through quarterly reports. Finally, the fiduciary must provide an annual summary of the transactions to the independent fiduciary. The annual summary must contain all security transaction-related charges incurred by the plan, the brokerage placement practices (if changed), and a portfolio turnover ratio. The Department previously submitted an ICR to OMB for approval of this information collection and received OMB approval under OMB PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 Control No. 1210–0059. The current approval is scheduled to expire on June 30, 2019. II. Focus of Comments The Department is particularly interested in comments that: • Evaluate whether the collections of information are 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 collections 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., by permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICRs for OMB approval of the information collections; they will also become a matter of public record. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. 2019–06667 Filed 4–4–19; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Employment and Training Administration Agency Information Collection Activities; Comment Request; Required Elements of an Unemployment Insurance (UI) Reemployment Services and Eligibility Assessment (RESEA) Grant State Plan ACTION: Notice. The Department of Labor’s (DOL’s), Employment and Training Administration (ETA) is soliciting comments concerning a proposed information collection request (ICR) titled, ‘‘Required Elements of an Unemployment Insurance (UI) Reemployment Services and Eligibility Assessment (RESEA) Grant State Plan.’’ This comment request is part of continuing Departmental efforts to reduce paperwork and respondent burden in accordance with the Paperwork Reduction Act of 1995 (PRA). SUMMARY: E:\FR\FM\05APN1.SGM 05APN1

Agencies

[Federal Register Volume 84, Number 66 (Friday, April 5, 2019)]
[Notices]
[Pages 13719-13720]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06667]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Notice of Availability, Request for Comments

AGENCY: Employee Benefits Security Administration, Department of Labor.

ACTION: Notice of availability, request for comments.

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

SUMMARY: The Department of Labor (the Department), in accordance with 
the Paperwork Reduction Act of 1995, provides the general public and 
Federal agencies with an opportunity to comment on 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 Employee Benefits Security 
Administration (EBSA) is soliciting comments on the proposed renewal of 
the information collection requests (ICRs) contained in the documents 
described below. A copy of the ICRs may be obtained by contacting the 
office listed in the ADDRESSES section of this notice. ICRs also are 
available at reginfo.gov (http://www.reginfo.gov/public/do/PRAMain).

DATES: Written comments must be submitted to the office shown in the 
Addresses section on or before June 4, 2019.

ADDRESSES: G. Christopher Cosby, Department of Labor, Employee Benefits 
Security Administration, 200 Constitution Avenue NW, Room N-5718, 
Washington, DC 20210, [email protected], (202) 693-8410, FAX (202) 219-
4745 (these are not toll-free numbers).

SUPPLEMENTARY INFORMATION:  This notice requests public comment on the 
Department's request for the Office of Management and Budget's (OMB) 
approval of the ICRs contained in Prohibited Transaction Exemptions 
(PTEs) 1975-1, 1984-24, and 1986-128. The PTEs provide exemptions from 
the prohibited transaction provisions of the Employee Retirement Income 
Security Act of 1974 (ERISA), and the Internal Revenue Code of 1986 
(Code) for specified types of transactions.\1\ The Department is 
proposing to renew the requirements of the ICRs contained in PTEs 75-1, 
84-24, and 86-128 in place prior to 2016.
---------------------------------------------------------------------------

    \1\ They were amended as part of the Department's 2016 final 
rule defining who is a ``fiduciary'' under ERISA and the Code, which 
was published in the Federal Register on April 8, 2016. The final 
rule and PTE amendments were vacated by the Fifth Circuit Court of 
Appeal's decision in Chamber of Commerce v. Department of Labor, 885 
F.3d 360 (5th Cir. 2018).
---------------------------------------------------------------------------

    The Department notes that an agency may not conduct or sponsor, and 
a person is not required to respond to, an information collection 
unless it displays a valid OMB control number. A summary of the ICRs 
and the current burden estimates follows:
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Prohibited Transaction Exemption 1975-1, Exemptions from 
Prohibitions Respecting Certain Classes of Transactions Involving 
Employee Benefit Plans and Certain Broker-Dealers, Reporting Dealers, 
and Banks.
    OMB Number: 1210-0092.
    Affected Public: Businesses or other for-profits, Not-for-profit 
institutions.
    Respondents: 6,116.
    Responses: 6,116.
    Estimated Total Burden Hours: 1,019.
    Estimated Total Burden Cost (Operating and Maintenance): $0.
    Description: PTE 1975-1 provides exemptions for transactions 
between employee benefit plans and individual retirement accounts 
(IRAs) and broker-dealers, reporting dealers and banks, relating to 
securities purchases and sales, provided specified conditions are met. 
The exempted transactions include an employee benefit plan or IRA's 
purchase of securities from broker-dealers' inventories of stocks, from 
underwriting syndicates in which a fiduciary is a member, from banks, 
from

[[Page 13720]]

reporting dealers, and from a market-maker that is a fiduciary. The 
exempted transactions also include, under certain conditions, a plan's 
or IRA's accepting an extension of credit from a broker-dealer for the 
purpose of facilitating settlement of a securities transaction. Among 
other conditions, PTE 1975-1 requires plans and IRAs involved in the 
transactions to maintain adequate records of the transactions for a 
period of six years. The Department previously submitted an ICR to OMB 
for approval of this information collection and received OMB approval 
under OMB Control No. 1210-0092. The current approval is scheduled to 
expire on June 30, 2019.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Prohibited Transaction Exemption 84-24 for Certain 
Transactions Involving Insurance Agents and Brokers, Pension 
Consultants, Insurance Companies, Investment Companies and Investment 
Company Principal Underwriters.
    OMB Number: 1210-0158.
    Affected Public: Businesses or other for-profits, Not-for-profit 
institutions.
    Respondents: 2,789.
    Responses: 227,068.
    Estimated Total Burden Hours: 19,194.
    Estimated Total Burden Cost (Operating and Maintenance): $98,115.
    Description: PTE 1984-24, as amended, provides an exemption for 
insurance agents, insurance brokers and pension consultants to receive 
a sales commission from an insurance company in connection with the 
purchase, with plan or IRA assets, of an insurance or annuity contract. 
Relief is also provided for a principal underwriter for an investment 
company registered under the Investment Company Act of 1940 to receive 
a sales commission in connection with the purchase, with plan or IRA 
assets, of securities issued by the investment company.
    The PTE requires the insurance agents, insurance brokers, pension 
consultants and investment company principal underwriters relying on 
the exemption to obtain authorization from an independent plan 
fiduciary, provide certain disclosures, including disclosure of the 
commission payment, necessary for the independent plan fiduciary to 
evaluate whether or not to grant authorization, and maintain records 
necessary to demonstrate that the conditions of the exemption have been 
met. The Department previously submitted an ICR to OMB for approval of 
this information collection and received OMB approval under OMB Control 
No. 1210-0158. The current approval is scheduled to expire on June 30, 
2019.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Prohibited Transaction Exemption 1986-128 for Securities 
Transactions Involving Employee Benefit Plans and Broker-Dealers.
    OMB Number: 1210-0059.
    Affected Public: Businesses or other for-profits, Not-for-profit 
institutions.
    Respondents: 11,894.
    Responses: 819,448.
    Estimated Total Burden Hours: 57,443.
    Estimated Total Burden Cost (Operating and Maintenance): $661,045.
    Description: PTE 1986-128, as amended, permits persons who serve as 
fiduciaries for employee benefit plans and IRAs to effect or execute 
securities transactions on behalf of the plans and IRAs. The exemption 
also allows a fiduciary to act as an agent in an agency cross 
transaction for an employee benefit plan or IRA and one or more other 
parties to the transaction and receive reasonable compensation from the 
other party.
    The PTE requires the fiduciary relying on the exemption to obtain 
written authorization executed in advance by an independent fiduciary 
of the employee benefit plan whose assets are involved in the 
transaction. Within three months prior to the authorization, the 
fiduciary must furnish the independent fiduciary with any reasonably 
available information necessary for the independent fiduciary to 
determine whether an authorization should be made. The information must 
include a copy of the exemption, a form for termination, and a 
description of the fiduciary's brokerage placement practices. The 
fiduciary must also provide a termination form to the independent 
fiduciary annually so that the independent fiduciary may terminate the 
authorization without penalty to the plan; failure to return the form 
constitutes continuing authorization. The fiduciary must report all 
transactions to the independent fiduciary, either by confirmation slips 
or through quarterly reports. Finally, the fiduciary must provide an 
annual summary of the transactions to the independent fiduciary. The 
annual summary must contain all security transaction-related charges 
incurred by the plan, the brokerage placement practices (if changed), 
and a portfolio turnover ratio. The Department previously submitted an 
ICR to OMB for approval of this information collection and received OMB 
approval under OMB Control No. 1210-0059. The current approval is 
scheduled to expire on June 30, 2019.

II. Focus of Comments

    The Department is particularly interested in comments that:
     Evaluate whether the collections of information are 
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 
collections 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., by 
permitting electronic submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICRs for OMB approval of the information 
collections; they will also become a matter of public record.

Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
[FR Doc. 2019-06667 Filed 4-4-19; 8:45 am]
 BILLING CODE 4510-29-P