Agency Information Collection Activities; Submission for OMB Review; Comment Request; Class Exemption for Certain Transactions Involving the Sale of Individual Life Insurance or Annuity Contracts by an Employee Benefit Plan, 23473 [2023-08007]

Download as PDF Federal Register / Vol. 88, No. 73 / Monday, April 17, 2023 / Notices (Authority: 44 U.S.C. 3507(a)(1)(D)) Nora Hernandez, Departmental Clearance Officer. [FR Doc. 2023–08008 Filed 4–14–23; 8:45 am] BILLING CODE 4510–CM–P DEPARTMENT OF LABOR Agency Information Collection Activities; Submission for OMB Review; Comment Request; Class Exemption for Certain Transactions Involving the Sale of Individual Life Insurance or Annuity Contracts by an Employee Benefit 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 the agency receives on or before May 17, 2023. 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: Mara Blumenthal by telephone at 202– 693–8538, or by email at DOL_PRA_ PUBLIC@dol.gov. SUPPLEMENTARY INFORMATION: Section 408(a) of the Employee Retirement lotter on DSK11XQN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 16:57 Apr 14, 2023 Jkt 259001 Income Security Act (ERISA) authorizes the Secretary of Labor ‘‘to grant a conditional or unconditional exemption of any fiduciary or class of fiduciaries or transactions, from all or part of the restrictions imposed by section 406 and 407(a).’’ Class exemption PTE 92–6 exempts from the prohibited transaction restrictions the sale of individual life insurance or annuity contracts held by an employee benefit plan to certain parties. Plans utilizing the exemption are required to inform the insured participant of a proposed sale of a life insurance or annuity policy to the employer, a relative, a trust, another plan, an owner-employee, or a shareholder-employee and be given an opportunity to purchase such contract. For additional substantive information about this ICR, see the related notice published in the Federal Register on July 22, 2022 (87 FR 43897). 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: Class Exemption for Certain Transactions Involving the Sale of Individual Life Insurance or Annuity Contracts Held by an Employee Benefit Plan. OMB Control Number: 1210–0063. Affected Public: Private Sector— Businesses or other for-profits. Total Estimated Number of Respondents: 11,401. Total Estimated Number of Responses: 11,401. Total Estimated Annual Time Burden: 2,280 hours. Total Estimated Annual Other Costs Burden: $7,753. (Authority: 44 U.S.C. 3507(a)(1)(D)) PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 23473 Dated: April 10, 2023. Mara Blumenthal, Senior PRA Analyst. [FR Doc. 2023–08007 Filed 4–14–23; 8:45 am] BILLING CODE 4510–29–P NATIONAL SCIENCE FOUNDATION Committee Management; Renewal The NSF management officials having responsibility for the advisory committee listed below have determined that renewing this committee for another two years is necessary and in the public interest in connection with the performance of duties imposed upon the Director, National Science Foundation (NSF), by 42 U.S.C. 1861 et seq. This determination follows consultation with the Committee Management Secretariat, General Services Administration. Committee: Advisory Committee for International Science and Engineering, #25104. Effective date for renewal is April 12, 2023. For more information, please contact Crystal Robinson, NSF, at (703) 292–8687. Dated: April 12, 2023. Crystal Robinson, Committee Management Officer. [FR Doc. 2023–07994 Filed 4–14–23; 8:45 am] BILLING CODE 7555–01–P POSTAL REGULATORY COMMISSION [Docket No. MC2023–132; Order No. 6481] Mail Classification Schedule Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is recognizing a recent Postal Service filing concerning product description changes to the Mail Classification Schedule related to International Mail. This document informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: May 3, 2023. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at https:// www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. SUMMARY: FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. E:\FR\FM\17APN1.SGM 17APN1

Agencies

DEPARTMENT OF LABOR

[Federal Register Volume 88, Number 73 (Monday, April 17, 2023)]
[Notices]
[Page 23473]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-08007]


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DEPARTMENT OF LABOR


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Class Exemption for Certain Transactions 
Involving the Sale of Individual Life Insurance or Annuity Contracts by 
an Employee Benefit Plan

ACTION: Notice of availability; request for comments.

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

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 the agency 
receives on or before May 17, 2023.

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: Mara Blumenthal by telephone at 202-
693-8538, or by email at [email protected].

SUPPLEMENTARY INFORMATION: Section 408(a) of the Employee Retirement 
Income Security Act (ERISA) authorizes the Secretary of Labor ``to 
grant a conditional or unconditional exemption of any fiduciary or 
class of fiduciaries or transactions, from all or part of the 
restrictions imposed by section 406 and 407(a).'' Class exemption PTE 
92-6 exempts from the prohibited transaction restrictions the sale of 
individual life insurance or annuity contracts held by an employee 
benefit plan to certain parties. Plans utilizing the exemption are 
required to inform the insured participant of a proposed sale of a life 
insurance or annuity policy to the employer, a relative, a trust, 
another plan, an owner-employee, or a shareholder-employee and be given 
an opportunity to purchase such contract. For additional substantive 
information about this ICR, see the related notice published in the 
Federal Register on July 22, 2022 (87 FR 43897).
    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: Class Exemption for Certain Transactions 
Involving the Sale of Individual Life Insurance or Annuity Contracts 
Held by an Employee Benefit Plan.
    OMB Control Number: 1210-0063.
    Affected Public: Private Sector--Businesses or other for-profits.
    Total Estimated Number of Respondents: 11,401.
    Total Estimated Number of Responses: 11,401.
    Total Estimated Annual Time Burden: 2,280 hours.
    Total Estimated Annual Other Costs Burden: $7,753.

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

     Dated: April 10, 2023.
Mara Blumenthal,
Senior PRA Analyst.
[FR Doc. 2023-08007 Filed 4-14-23; 8:45 am]
BILLING CODE 4510-29-P

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