Proposed Extension of Information Collection Requests Submitted for Public Comment, 23856-23858 [2020-09026]

Download as PDF jbell on DSKJLSW7X2PROD with NOTICES 23856 Federal Register / Vol. 85, No. 83 / Wednesday, April 29, 2020 / Notices Loss Report. Some sections of the form were reformatted and additional fields were included, to improve user experience when reporting theft or loss of inventory. The proposed information collection (IC) is also being published to obtain comments from the public and affected agencies. DATES: Comments are encouraged and will be accepted for 60 days until June 29, 2020. FOR FURTHER INFORMATION CONTACT: If you have additional comments, regarding the estimated public burden or associated response time, suggestions, or need a copy of the proposed information collection instrument with instructions, or additional information, please contact: Neil Troppman, ATF National Tracing Center either by mail at 244 Needy Road, Martinsburg, WV 25405, by email at neil.troppman@atf.gov, or by telephone at 304–260–3643. SUPPLEMENTARY INFORMATION: Written comments and suggestions from the public and affected agencies concerning the proposed collection of information are encouraged. Your comments should address one or more of the following four points: —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; —Evaluate whether and if so how the quality, utility, and clarity of the information to be collected can be enhanced; 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 (check justification or form 83): Revision of a currently approved collection. 2. The Title of the Form/Collection: Federal Firearms Licensee Firearms Inventory Theft/Loss Report. 3. The agency form number, if any, and the applicable component of the Department sponsoring the collection: Form number (if applicable): ATF Form 3310.11. VerDate Sep<11>2014 20:00 Apr 28, 2020 Jkt 250001 Component: Bureau of Alcohol, Tobacco, Firearms and Explosives, U.S. Department of Justice. 4. Affected public who will be asked or required to respond, as well as a brief abstract: Primary: Business or other for-profit. Other (if applicable): Federal Government. Abstract: The Federal Firearms Licensee Firearms Inventory Theft/Loss Report—ATF Form 3310.11 is used by federal firearms licensees (FFLs) to report theft or loss of inventory or collection to the Attorney General and other appropriate authorities. 5. An estimate of the total number of respondents and the amount of time estimated for an average respondent to respond: An estimated 4,000 respondents will utilize the form annually, and it will take each respondent approximately 24 minutes to complete their responses. 6. An estimate of the total public burden (in hours) associated with the collection: The estimated annual public burden associated with this collection is 1,600 hours, which is equal to 4,000 (# of respondents) * .4 (24 minutes). 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, 3E.405A, Washington, DC 20530. Dated: April 24, 2020. Melody Braswell, Department Clearance Officer for PRA, U.S. Department of Justice. [FR Doc. 2020–09087 Filed 4–28–20; 8:45 am] BILLING CODE 4410–02–P DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection Requests Submitted for Public Comment Employee Benefits Security Administration, Department of Labor. ACTION: Notice. AGENCY: The Department of Labor (the Department), in accordance with the Paperwork Reduction Act, 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 SUMMARY: PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 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 extension 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 29, 2020. ADDRESSES: Anja Decressin, 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). This notice requests public comment on the Department’s request for extension of the Office of Management and Budget’s (OMB) approval of ICRs contained in the rules and prohibited transaction exemptions described below. The Department is not proposing any changes to the existing ICRs at this time. 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: Process for Expedited Approval of an Exemption for Prohibited Transaction, Prohibited Transaction Class Exemption 1996–62. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0098. Affected Public: Not-for-profit institutions, Businesses or other forprofits. Respondents: 5. Responses: 3,515. Estimated Total Burden Hours: 88. Estimated Total Burden Cost (Operating and Maintenance): $20,457. Description: On April 28, 1975, the Department Published ERISA Procedure 75–1 in the Federal Register, which provided the public with information regarding the procedure to follow when requesting an exemption. On August 10, 1990, the Department issued a regulation which replaced ERISA SUPPLEMENTARY INFORMATION: E:\FR\FM\29APN1.SGM 29APN1 jbell on DSKJLSW7X2PROD with NOTICES Federal Register / Vol. 85, No. 83 / Wednesday, April 29, 2020 / Notices Procedure 75–1 for applications for prohibited transaction exemptions filed on or after September 10, 1990 (29 CFR 2570.30 et seq.). On July 31, 1996, the Department published in the Federal Register, Prohibited Transaction Class Exemption 96–62 that provides for accelerated approval of an exemption permitting a plan to engage in a transaction which might otherwise be prohibited following a demonstration to the Department that the transaction: (1) Is substantially similar in all material respects to at least two other transactions for which the Department recently granted administrative relief from the same restriction; and (2) presents little, if any, opportunity for abuse or risk of loss to a plan’s participants and beneficiaries. Under the class exemption, a party may proceed with a transaction in as little as 78 days from the acknowledgment of receipt by the Department of a written submission filed in accordance with the terms of the class exemption. In 2002, the DOL amended the exemption to clarify that it covers ‘‘plans’’ as described in Code Section 4975(e)(1), such as IRAs and Keogh Plans, and that the scope of the exemption is not limited to Title I ERISA covered plans. Additionally, in 2003 the DOL amended the exemption to permit parties to base their submissions on substantially similar transactions described either in two individual exemptions granted within the past 60 months, or in one individual exemption granted within the last 120 months and one transaction that received final authorization under the exemption within the past 60 months. The Department has received approval from OMB for this ICR under OMB Control No. 1210–0098. The current approval is scheduled to expire on October 31, 2020. Agency: Employee Benefits Security Administration, Department of Labor. Title: Suspension of Pension Benefits Pursuant to Regulations 29 CFR 2530.203–3. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0048. Affected Public: Businesses or other for-profits. Respondents: 39,457. Responses: 171,221. Estimated Total Burden Hours: 132,639. Estimated Total Burden Cost (Operating and Maintenance): $46,773. Description: Section 203(a)(3)(B) of the Employee Retirement Income Security Act of 1974 (ERISA) governs VerDate Sep<11>2014 20:00 Apr 28, 2020 Jkt 250001 the circumstances under which pension plans may suspend pension benefit payments to retirees who return to work or to participants who continue to work beyond normal retirement age. This section sets forth the circumstances and conditions under which such benefit payments may be suspended. This regulation, which was issued on January 27, 1981, amended on December 4, 1981, and corrected on December 11, 1981, generally describes the manner and circumstances under which retirement benefits may be suspended during periods of employment subsequent to retirement. The rule also clarifies that the normal retirement benefit of a participant who continues working beyond the plan’s normal retirement age may also be considered to be suspended even though no act of retirement has occurred. In order for a plan to suspend benefits pursuant to the regulation, it must notify the affected retiree or participant during the first calendar month or payroll period in which the plan withholds payment that benefits are suspended. Requests for such reviews may be considered in accordance with the claims procedure adopted by the plan pursuant to Section 503 of the Act and applicable regulations. The notice must include the specific reasons for such suspension, a general description of the plan provisions authorizing the suspension, a copy of the relevant plan provisions, and a statement indicating where the applicable regulations may be found, i.e., 29 CFR 2530.203–3. In addition, the suspension notification must inform the retiree or participant of the plan’s procedure for affording a review of the suspension of benefits. The Department has received approval from OMB for this ICR under OMB Control No. 1210–0048. The current approval is scheduled to expire on December 31, 2020. Agency: Employee Benefits Security Administration, Department of Labor. Title: Employee Retirement Income Security Act Prohibited Transaction Class Exemption 1981–8, Investment of Plan Assets in Certain Types of ShortTerm Investment. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0061. Affected Public: Businesses or other for-profits, Not-for-profit institutions. Respondents: 82,664. Responses: 413,320. Estimated Total Burden Hours: 103,330. Estimated Total Burden Cost (Operating and Maintenance): $93,770. PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 23857 Description: This class exemption (PTE 81–8), which was granted on January 23, 1981, exempts from the prohibited transaction restrictions the investment of plan assets in certain short-term investments in debt obligations issued by certain persons who provide services to the plan or are affiliated with such service providers. PTE 81–8 covers four types of shortterm investments: banker’s acceptances, commercial paper, repurchase agreements and certificates of deposit and contains specific conditions for each type of investment. PTE 81–8 was amended on April 9, 1985, to add a new category of permissible investmentssecurities issued by banks or their affiliates in cases where the bank is a party in interest only by reason of the furnishing of a checking account or related services (such as clearing and recordkeeping services) to the list of acceptable short-term investments in the existing class exemption. In addition, PTE 81–8 was amended to expand the category of sellers with whom the plan may enter into repurchase agreements to include dealers in bank acceptances who report their security positions on a daily basis to the Federal Reserve Bank of New York. The Department has received approval from OMB for this ICR under OMB Control No. 1210–0061. The current approval is scheduled to expire on December 31, 2020. Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Class Exemption 1998–54 Relating to Certain Employee Benefit Plan Foreign Exchange Transactions Executed Pursuant to Standing Instructions. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0111. Affected Public: Businesses or other for-profits. Respondents: 35. Responses: 420,000. Estimated Total Burden Hours: 4,200. Estimated Total Burden Cost (Operating and Maintenance): $0. Description: The class exemption that is the subject of this submission would permit certain foreign exchange transactions between employee benefit plans and certain banks and brokerdealers that are parties in interest with respect to such plans. For purposes of this exemption, a foreign exchange transaction is the exchange of currency of one nation for the currency of another nation. Although the Department previously granted an exemption for certain foreign exchange transactions (PTE 94–20, 59 FR 8022 (OMB Control Number 1210–0085)), that exemption E:\FR\FM\29APN1.SGM 29APN1 23858 Federal Register / Vol. 85, No. 83 / Wednesday, April 29, 2020 / Notices designated place by the date specified above. Please submit your comments by only one method. The Department will not review comments received by means other than those listed above or that it receives after the comment period has closed. Comments: The Department will retain all comments on this notice and will release them upon request via email to any member of the public. The Department also will make all the comments it receives available for public inspection by appointment during normal business hours at the above address. If you need assistance to review the comments, the Department Dated: April 23, 2020. will provide you with appropriate aids Anja Decressin, such as readers or print magnifiers. The Acting Director, Office of Policy and Research, Department will make copies of this Employee Benefits Security Administration. notice available, upon request, in large [FR Doc. 2020–09026 Filed 4–28–20; 8:45 am] print, Braille, and electronic file. The BILLING CODE 4510–29–P Department also will consider providing the notice in other formats upon request. To schedule an appointment to DEPARTMENT OF LABOR review the comments and/or obtain the notice in an alternative format, contact Employment and Training Ms. Harvey using the information Administration provided above. The Department will retain all comments received without Program Year (PY) 2020 Workforce Innovation and Opportunity Act (WIOA) making any changes to the comments, including any personal information Allotments; PY 2020 Wagner-Peyser Act Allotments and PY 2020 Workforce provided. The Department therefore cautions commenters not to include Information Grants their personal information such as AGENCY: Employment and Training Social Security Numbers, personal Administration, Labor. addresses, telephone numbers, and ACTION: Notice. email addresses in their comments; this information would be released with the SUMMARY: This notice announces comment if the comments are requested. allotments for PY 2020 for WIOA Title It is the commenter’s responsibility to I Youth, Adult and Dislocated Worker safeguard his or her information. Activities programs; allotments for FOR FURTHER INFORMATION CONTACT: Employment Service (ES) activities WIOA Youth Activities allotments— under the Wagner-Peyser Act for PY Sara Hastings at (202) 693–3599; WIOA 2020 and the allotments of Workforce Adult and Dislocated Worker Activities Information Grants to States for PY and ES allotments—Andrew Ridgeway 2020. at (202) 693–3536; Workforce DATES: The Department must receive Information Grant allotments—Donald comments on the formula used to allot Haughton at (202) 693–2784. funds to the Outlying Areas by May 29, Individuals with hearing or speech 2020. impairments may access the telephone numbers above via TTY by calling the ADDRESSES: Submit written comments toll-free Federal Information Relay to the Employment and Training Service at 1–877–889–5627 (TTY/TDD). Administration (ETA), Office of Financial Administration, 200 SUPPLEMENTARY INFORMATION: WIOA Constitution Avenue NW, Room allotments for states and the state N–4702, Washington, DC 20210, allotments for the Wagner-Peyser Act Attention: Ms. Anita Harvey, email: are based on formulas defined in their harvey.anita@dol.gov. respective statutes. WIOA requires Commenters are advised that mail allotments for the Outlying Areas to be delivery in the Washington area may be competitively awarded rather than delayed due to security concerns. The based on a formula determined by the Department will receive hand-delivered Secretary of Labor (Secretary) as comments at the above address. All occurred under the Workforce overnight mail will be considered hand- Investment Act (WIA). However, for PY delivered and must be received at the 2020, the Further Consolidated jbell on DSKJLSW7X2PROD with NOTICES did not include relief for those foreign exchange transactions executed pursuant to the advance written authorization of a plan fiduciary who is independent of the bank or brokerdealer engaging in the transaction (a ‘‘standing instruction’’). This submission covers the information collection included in the exemption for foreign exchange transactions executed pursuant to standing instructions, which was granted on November 13, 1998. The Department has received approval from OMB for this ICR under OMB Control No. 1210–0111. The current approval is scheduled to expire on December 31, 2020. VerDate Sep<11>2014 20:00 Apr 28, 2020 Jkt 250001 PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 Appropriations Act, 2020 waives the competition requirement, and the Secretary is using the discretionary formula rationale and methodology for allocating PY 2020 funds for the Outlying Areas (American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, the Republic of Palau, and the United States Virgin Islands) that was published in the Federal Register at 65 FR 8236 (Feb. 17, 2000). WIOA specifically included the Republic of Palau as an Outlying Area, except during any period for which the Secretary of Labor and the Secretary of Education determine that a Compact of Free Association is in effect and contains provisions for training and education assistance prohibiting the assistance provided under WIOA; no such determinations prohibiting assistance have been made. The formula that the Department of Labor (Department) used for PY 2020 is the same formula used in PY 2019 and is described in the section on Youth Activities program allotments. The Department invites comments only on the formula used to allot funds to the Outlying Areas. The Department is announcing WIOA allotments for PY 2020 for Youth Activities, Adults and Dislocated Worker Activities, Wagner-Peyser Act PY 2020 allotments, and PY 2020 Workforce Information Grant allotments. This notice provides information on the amount of funds available during PY 2020 to states with an approved WIOA Combined or Unified State Plan, and information regarding allotments to the Outlying Areas. On December 20, 2019, the Further Consolidated Appropriations Act, 2020, Public Law 116–94 was signed into law (‘‘the Act’’). The Act, Division A, Title I, Sections 106(b) and 107 of the Act allows the Secretary of Labor (Secretary) to set aside up to 0.5 percent of each discretionary appropriation for activities related to program integrity and 0.75 percent of most operating funds for evaluations. For 2020, as authorized by the Act, the Department has set aside $818,000 of the Training and Employment Services (TES) appropriation for evaluations. ETA reserved these funds from the WIOA Adult, Youth, and Dislocated Worker program budgets. Any funds not utilized for these reserve activities will be provided to the states. We also have attached tables listing the PY 2020 allotments for programs under WIOA Title I Youth Activities (Table A), Adult and Dislocated Workers Employment and Training Activities (Tables B and C, respectively), and the PY 2020 Wagner- E:\FR\FM\29APN1.SGM 29APN1

Agencies

[Federal Register Volume 85, Number 83 (Wednesday, April 29, 2020)]
[Notices]
[Pages 23856-23858]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-09026]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection Requests Submitted 
for Public Comment

AGENCY: Employee Benefits Security Administration, Department of Labor.

ACTION: Notice.

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

SUMMARY: The Department of Labor (the Department), in accordance with 
the Paperwork Reduction Act, 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 extension 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 29, 2020.

ADDRESSES: Anja Decressin, 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 extension of the Office of Management and 
Budget's (OMB) approval of ICRs contained in the rules and prohibited 
transaction exemptions described below. The Department is not proposing 
any changes to the existing ICRs at this time. 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: Process for Expedited Approval of an Exemption for 
Prohibited Transaction, Prohibited Transaction Class Exemption 1996-62.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0098.
    Affected Public: Not-for-profit institutions, Businesses or other 
for-profits.
    Respondents: 5.
    Responses: 3,515.
    Estimated Total Burden Hours: 88.
    Estimated Total Burden Cost (Operating and Maintenance): $20,457.
    Description: On April 28, 1975, the Department Published ERISA 
Procedure 75-1 in the Federal Register, which provided the public with 
information regarding the procedure to follow when requesting an 
exemption. On August 10, 1990, the Department issued a regulation which 
replaced ERISA

[[Page 23857]]

Procedure 75-1 for applications for prohibited transaction exemptions 
filed on or after September 10, 1990 (29 CFR 2570.30 et seq.).
    On July 31, 1996, the Department published in the Federal Register, 
Prohibited Transaction Class Exemption 96-62 that provides for 
accelerated approval of an exemption permitting a plan to engage in a 
transaction which might otherwise be prohibited following a 
demonstration to the Department that the transaction: (1) Is 
substantially similar in all material respects to at least two other 
transactions for which the Department recently granted administrative 
relief from the same restriction; and (2) presents little, if any, 
opportunity for abuse or risk of loss to a plan's participants and 
beneficiaries. Under the class exemption, a party may proceed with a 
transaction in as little as 78 days from the acknowledgment of receipt 
by the Department of a written submission filed in accordance with the 
terms of the class exemption.
    In 2002, the DOL amended the exemption to clarify that it covers 
``plans'' as described in Code Section 4975(e)(1), such as IRAs and 
Keogh Plans, and that the scope of the exemption is not limited to 
Title I ERISA covered plans.
    Additionally, in 2003 the DOL amended the exemption to permit 
parties to base their submissions on substantially similar transactions 
described either in two individual exemptions granted within the past 
60 months, or in one individual exemption granted within the last 120 
months and one transaction that received final authorization under the 
exemption within the past 60 months. The Department has received 
approval from OMB for this ICR under OMB Control No. 1210-0098. The 
current approval is scheduled to expire on October 31, 2020.
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Suspension of Pension Benefits Pursuant to Regulations 29 
CFR 2530.203-3.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0048.
    Affected Public: Businesses or other for-profits.
    Respondents: 39,457.
    Responses: 171,221.
    Estimated Total Burden Hours: 132,639.
    Estimated Total Burden Cost (Operating and Maintenance): $46,773.
    Description: Section 203(a)(3)(B) of the Employee Retirement Income 
Security Act of 1974 (ERISA) governs the circumstances under which 
pension plans may suspend pension benefit payments to retirees who 
return to work or to participants who continue to work beyond normal 
retirement age. This section sets forth the circumstances and 
conditions under which such benefit payments may be suspended.
    This regulation, which was issued on January 27, 1981, amended on 
December 4, 1981, and corrected on December 11, 1981, generally 
describes the manner and circumstances under which retirement benefits 
may be suspended during periods of employment subsequent to retirement. 
The rule also clarifies that the normal retirement benefit of a 
participant who continues working beyond the plan's normal retirement 
age may also be considered to be suspended even though no act of 
retirement has occurred.
    In order for a plan to suspend benefits pursuant to the regulation, 
it must notify the affected retiree or participant during the first 
calendar month or payroll period in which the plan withholds payment 
that benefits are suspended. Requests for such reviews may be 
considered in accordance with the claims procedure adopted by the plan 
pursuant to Section 503 of the Act and applicable regulations. The 
notice must include the specific reasons for such suspension, a general 
description of the plan provisions authorizing the suspension, a copy 
of the relevant plan provisions, and a statement indicating where the 
applicable regulations may be found, i.e., 29 CFR 2530.203-3. In 
addition, the suspension notification must inform the retiree or 
participant of the plan's procedure for affording a review of the 
suspension of benefits. The Department has received approval from OMB 
for this ICR under OMB Control No. 1210-0048. The current approval is 
scheduled to expire on December 31, 2020.
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Employee Retirement Income Security Act Prohibited 
Transaction Class Exemption 1981-8, Investment of Plan Assets in 
Certain Types of Short-Term Investment.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0061.
    Affected Public: Businesses or other for-profits, Not-for-profit 
institutions.
    Respondents: 82,664.
    Responses: 413,320.
    Estimated Total Burden Hours: 103,330.
    Estimated Total Burden Cost (Operating and Maintenance): $93,770.
    Description: This class exemption (PTE 81-8), which was granted on 
January 23, 1981, exempts from the prohibited transaction restrictions 
the investment of plan assets in certain short-term investments in debt 
obligations issued by certain persons who provide services to the plan 
or are affiliated with such service providers. PTE 81-8 covers four 
types of short-term investments: banker's acceptances, commercial 
paper, repurchase agreements and certificates of deposit and contains 
specific conditions for each type of investment. PTE 81-8 was amended 
on April 9, 1985, to add a new category of permissible investments-
securities issued by banks or their affiliates in cases where the bank 
is a party in interest only by reason of the furnishing of a checking 
account or related services (such as clearing and recordkeeping 
services) to the list of acceptable short-term investments in the 
existing class exemption. In addition, PTE 81-8 was amended to expand 
the category of sellers with whom the plan may enter into repurchase 
agreements to include dealers in bank acceptances who report their 
security positions on a daily basis to the Federal Reserve Bank of New 
York. The Department has received approval from OMB for this ICR under 
OMB Control No. 1210-0061. The current approval is scheduled to expire 
on December 31, 2020.
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Prohibited Transaction Class Exemption 1998-54 Relating to 
Certain Employee Benefit Plan Foreign Exchange Transactions Executed 
Pursuant to Standing Instructions.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0111.
    Affected Public: Businesses or other for-profits.
    Respondents: 35.
    Responses: 420,000.
    Estimated Total Burden Hours: 4,200.
    Estimated Total Burden Cost (Operating and Maintenance): $0.
    Description: The class exemption that is the subject of this 
submission would permit certain foreign exchange transactions between 
employee benefit plans and certain banks and broker-dealers that are 
parties in interest with respect to such plans. For purposes of this 
exemption, a foreign exchange transaction is the exchange of currency 
of one nation for the currency of another nation. Although the 
Department previously granted an exemption for certain foreign exchange 
transactions (PTE 94-20, 59 FR 8022 (OMB Control Number 1210-0085)), 
that exemption

[[Page 23858]]

did not include relief for those foreign exchange transactions executed 
pursuant to the advance written authorization of a plan fiduciary who 
is independent of the bank or broker-dealer engaging in the transaction 
(a ``standing instruction''). This submission covers the information 
collection included in the exemption for foreign exchange transactions 
executed pursuant to standing instructions, which was granted on 
November 13, 1998. The Department has received approval from OMB for 
this ICR under OMB Control No. 1210-0111. The current approval is 
scheduled to expire on December 31, 2020.

    Dated: April 23, 2020.
Anja Decressin,
Acting Director, Office of Policy and Research, Employee Benefits 
Security Administration.
[FR Doc. 2020-09026 Filed 4-28-20; 8:45 am]
BILLING CODE 4510-29-P