Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1992-6: Sale of Individual Life Insurance or Annuity Contracts by a Plan, 29980 [2020-10724]

Download as PDF 29980 Federal Register / Vol. 85, No. 97 / Tuesday, May 19, 2020 / Notices During the public comment period, the consent decree may be examined and downloaded at this Justice Department website: https:// www.justice.gov/enrd/consent-decrees. We will provide a paper copy of the consent decree upon written request and payment of reproduction costs. Please mail your request and payment to: Consent Decree Library, U.S. DOJ— ENRD, P.O. Box 7611, Washington, DC 20044–7611. Please enclose a check or money order for $18.75 (25 cents per page reproduction cost) payable to the United States Treasury. Patricia McKenna, Assistant Section Chief, Environmental Enforcement Section, Environment and Natural Resources Division. [FR Doc. 2020–10760 Filed 5–18–20; 8:45 am] BILLING CODE 4410–15–P DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1992–6: Sale of Individual Life Insurance or Annuity Contracts by a Plan Notice of availability; request for comments. ACTION: The Department of Labor (DOL) is submitting this Employee Benefits Security Administration (EBSA)-sponsored information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited. DATES: The OMB will consider all written comments that agency receives on or before June 18, 2020. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Comments are invited on: (1) Whether the collection of information is necessary for the proper performance of the functions of the Department, including whether the information will have practical utility; (2) if the information will be processed and used SUMMARY: VerDate Sep<11>2014 17:57 May 18, 2020 Jkt 250001 in a timely manner; (3) the accuracy of the agency’s estimates of the burden and cost of the collection of information, including the validity of the methodology and assumptions used; (4) ways to enhance the quality, utility and clarity of the information collection; and (5) ways to minimize the burden of the collection of information on those who are to respond, including the use of automated collection techniques or other forms of information technology. FOR FURTHER INFORMATION CONTACT: Anthony May by telephone at 202–693– 4129 (this is not a toll-free number) or by email at DOL_PRA_PUBLIC@dol.gov. SUPPLEMENTARY INFORMATION: This class exemption exempts from the prohibited transaction provisions of ERISA, the sale of individual or annuity contracts by a plan to participants, relatives of participants, employers, any of whose employees are covered by the plan, other employee benefit plans, owneremployees, or shareholder-employees, for the cash surrender value of the contracts, provided certain conditions set forth in the exemption are met. The Department has included in the class exemption a basic disclosure requirement. Pension plans are required to inform the insured participant of a proposed sale of a life insurance or annuity policy to the employer, a relative, another plan, an owneremployee, or a shareholder-employee. If the participant elects not to purchase the contract, the relative, the employer, another plan, the owner-employees, or the shareholder-employees may purchase the contract from the plan upon the receipt by the plan of written consent of the participant. The disclosure requirement of the class exemption does not apply if the contract is sold to the plan participant. For additional substantive information about this ICR, see the related notice published in the Federal Register on October 10, 2019 (84 FR 54642). 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 the OMB approves it 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 OMB Control Number. See 5 CFR 1320.5(a) and 1320.6. DOL seeks PRA authorization for this information collection for three (3) years. OMB authorization for an ICR cannot be for more than three (3) years PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 without renewal. The DOL notes that information collection requirements submitted to the OMB for existing ICRs receive a month-to-month extension while they undergo review. Agency: DOL–EBSA. Title of Collection: Prohibited Transaction Class Exemption 1992–6: Sale of Individual Life Insurance or Annuity Contracts by a Plan. OMB Control Number: 1210–0063. Affected Public: Private Sector: Businesses or other for-profits. Total Estimated Number of Respondents: 10,853. Total Estimated Number of Responses: 10,853. Total Estimated Annual Time Burden: 2,171 hours. Total Estimated Annual Other Costs Burden: $6,512. Authority: 44 U.S.C. 3507(a)(1)(D). Dated: May 13, 2020. Anthony May, Acting Departmental Clearance Officer. [FR Doc. 2020–10724 Filed 5–18–20; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Occupational Safety and Health Administration Susan Harwood Training Grant Program, FY 2020 Occupational Safety and Health Administration (OSHA), Department of Labor. ACTION: Notice of availability of funds and funding opportunity announcements (FOA) for Susan Harwood Training Grant Program grants. AGENCY: This notice announces availability of approximately $11.5 million for Susan Harwood Training Grant Program grants. Three separate funding opportunity announcements are available for Targeted Topic Training grants, Training and Educational Materials Development grants, and new Capacity Building grants (Funding Opportunity Number SHTG–FY–20–03 will cover two types of Capacity Building grants: (1) Capacity Building Pilot and (2) Capacity Building Developmental grants). DATES: Grant applications for Susan Harwood Training Program grants must be received electronically by the Grants.gov system no later than 11:59 p.m., ET, on July 20, 2020. ADDRESSES: The complete Susan Harwood Training Grant Program funding opportunity announcements SUMMARY: E:\FR\FM\19MYN1.SGM 19MYN1

Agencies

[Federal Register Volume 85, Number 97 (Tuesday, May 19, 2020)]
[Notices]
[Page 29980]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-10724]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Prohibited Transaction Class Exemption 1992-6: 
Sale of Individual Life Insurance or Annuity Contracts by a Plan

ACTION: Notice of availability; request for comments.

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SUMMARY: The Department of Labor (DOL) is submitting this Employee 
Benefits Security Administration (EBSA)-sponsored information 
collection request (ICR) to the Office of Management and Budget (OMB) 
for review and approval in accordance with the Paperwork Reduction Act 
of 1995 (PRA). Public comments on the ICR are invited.

DATES: The OMB will consider all written comments that agency receives 
on or before June 18, 2020.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    Comments are invited on: (1) Whether the collection of information 
is necessary for the proper performance of the functions of the 
Department, including whether the information will have practical 
utility; (2) if the information will be processed and used in a timely 
manner; (3) the accuracy of the agency's estimates of the burden and 
cost of the collection of information, including the validity of the 
methodology and assumptions used; (4) ways to enhance the quality, 
utility and clarity of the information collection; and (5) ways to 
minimize the burden of the collection of information on those who are 
to respond, including the use of automated collection techniques or 
other forms of information technology.

FOR FURTHER INFORMATION CONTACT: Anthony May by telephone at 202-693-
4129 (this is not a toll-free number) or by email at 
[email protected].

SUPPLEMENTARY INFORMATION: This class exemption exempts from the 
prohibited transaction provisions of ERISA, the sale of individual or 
annuity contracts by a plan to participants, relatives of participants, 
employers, any of whose employees are covered by the plan, other 
employee benefit plans, owner-employees, or shareholder-employees, for 
the cash surrender value of the contracts, provided certain conditions 
set forth in the exemption are met. The Department has included in the 
class exemption a basic disclosure requirement. Pension plans are 
required to inform the insured participant of a proposed sale of a life 
insurance or annuity policy to the employer, a relative, another plan, 
an owner-employee, or a shareholder-employee. If the participant elects 
not to purchase the contract, the relative, the employer, another plan, 
the owner-employees, or the shareholder-employees may purchase the 
contract from the plan upon the receipt by the plan of written consent 
of the participant. The disclosure requirement of the class exemption 
does not apply if the contract is sold to the plan participant. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on October 10, 2019 (84 FR 
54642).
    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 the OMB approves it 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 
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
    DOL seeks PRA authorization for this information collection for 
three (3) years. OMB authorization for an ICR cannot be for more than 
three (3) years without renewal. The DOL notes that information 
collection requirements submitted to the OMB for existing ICRs receive 
a month-to-month extension while they undergo review.
    Agency: DOL-EBSA.
    Title of Collection: Prohibited Transaction Class Exemption 1992-6: 
Sale of Individual Life Insurance or Annuity Contracts by a Plan.
    OMB Control Number: 1210-0063.
    Affected Public: Private Sector: Businesses or other for-profits.
    Total Estimated Number of Respondents: 10,853.
    Total Estimated Number of Responses: 10,853.
    Total Estimated Annual Time Burden: 2,171 hours.
    Total Estimated Annual Other Costs Burden: $6,512.

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

    Dated: May 13, 2020.
Anthony May,
Acting Departmental Clearance Officer.
[FR Doc. 2020-10724 Filed 5-18-20; 8:45 am]
BILLING CODE 4510-29-P

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