Agency Information Collection Activities; Submission for OMB Review; Comment Request; Investment Advice to Participants and Beneficiaries, 19361-19362 [2024-05645]
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Federal Register / Vol. 89, No. 53 / Monday, March 18, 2024 / Notices
address section of this Notice. Legal
authority for this information collection
is found at 33 U.S.C. 914(d). Regulatory
authority is found at 20 CFR 702.251.
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II. Desired Focus of Comments
The OWCP/DFELHWC is soliciting
comments concerning the proposed
information collection request (ICR)
titled, ‘‘Notice of Controversion of Right
to Compensation (LS–207).’’
OWCP/DFELHWC 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 OWCP/
DFELHWC’s estimate of the burden of
the proposed collection of information,
including the validity of the
methodology and assumptions used in
the estimate.
• Suggest methods to 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.
Background documents related to this
information collection request are
available at https://regulations.gov and
at DOL–OWCP/DFELHWC located at
200 Constitution Ave. NW, Room
S3323, Washington, DC 20210.
Questions about the information
collection requirements may be directed
to the person listed in the FOR FURTHER
INFORMATION CONTACT section of this
notice.
III. Current Actions
This information collection request
concerns the ‘‘Notice of Controversion
of Right to Compensation (LS–207).’’
OWCP/DFELHWC has updated the data
with respect to the number of
respondents, responses, burden hours,
and burden costs supporting this
information collection request from the
previous information collection request.
Type of Review: Revision of currently
approved collection.
Agency: DOL-Office of Workers’
Compensation Programs, Division of
Federal Employees’, Longshore and
Harbor Workers’ Compensation, OWCP/
DFELHWC.
OMB Control Number: 1240–0042.
Affected Public: Private Sector.
Number of Respondents: 550.
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17:07 Mar 15, 2024
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Frequency: On occasion.
Number of Responses: 19,250.
Annual Burden Hours: 4,813 hours.
Annual Respondent or Recordkeeper
Cost: $2,118.
OWCP Forms: Form LS–207, Notice of
Controversion of Right to
Compensation.
Comments submitted in response to
this notice will be summarized in the
request for Office of Management and
Budget approval of the proposed
information collection request; they will
become a matter of public record and
will be available at https://
www.reginfo.gov.
(Authority: 44 U.S.C. 3506(C)(2)(A))
Anjanette Suggs,
Agency Clearance Officer.
[FR Doc. 2024–05644 Filed 3–15–24; 8:45 am]
BILLING CODE P
DEPARTMENT OF LABOR
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request;
Investment Advice to Participants and
Beneficiaries
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 April 17, 2024.
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.
FOR FURTHER INFORMATION CONTACT:
Michael Howell by telephone at 202–
693–6782, or by email at DOL_PRA_
PUBLIC@dol.gov.
SUPPLEMENTARY INFORMATION: Under
ERISA, providing ‘‘investment advice’’
is a fiduciary act. A fiduciary who
advises participants about plan
investment opportunities that pay the
adviser fees or commissions may be
subject to liability under the Employee
SUMMARY:
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Fmt 4703
Sfmt 4703
19361
Retirement Income Security Act of 1974
(ERISA) prohibited transaction rules.
The Pension Protection Act of 2006
(Pub. L. 109–280) amended the ERISA
and the Internal Revenue Code (Code) to
include a statutory exemption for
providing investment advice to
participants and beneficiaries in selfdirected defined contribution individual
account ERISA-covered plans (Plans)
and beneficiaries of individual
retirement accounts, individual
retirement annuities, Archer MSAs,
health savings accounts and Coverdell
education savings accounts (collectively
IRAs) described in the Code. The
statutory exemption provides relief from
the prohibited transaction provisions of
ERISA, and the parallel provisions of
the Code.
The information collections that are
conditions of the regulation include,
third-party disclosures, recordkeeping,
and audit requirements. With one
exception, the regulation does not
require any reporting or filing with the
Federal government, but the designated
records must be made available upon
request. The exception is the
requirement that the fiduciary adviser is
required under certain circumstances to
forward the audit report which is also
a required disclosure under the
regulation to the Department. For
additional substantive information
about this ICR, see the related notice
published in the Federal Register on
August 25, 2023 (88 FR 58312).
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) 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; (3)
ways to enhance the quality, utility and
clarity of the information collection; and
(4) 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.
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.
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19362
Federal Register / Vol. 89, No. 53 / Monday, March 18, 2024 / Notices
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: Investment Advice
to Participants and Beneficiaries.
OMB Control Number: 1210–0134.
Affected Public: Businesses or other
for-profits.
Total Estimated Number of
Respondents: 8,938.
Total Estimated Number of
Responses: 24,698,107.
Total Estimated Annual Time Burden:
1,867,800 hours.
Total Estimated Annual Other Costs
Burden: $247,377,814.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Michael Howell,
Senior Paperwork Reduction Act Analyst.
[FR Doc. 2024–05645 Filed 3–15–24; 8:45 am]
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Wage and Hour Division
Agency Information Collection
Activities; Comment Request;
Information Collections: Work Study
Program of the Child Labor
Regulations
Wage and Hour Division,
Department of Labor.
ACTION: Notice.
AGENCY:
The Department of Labor (the
Department) is soliciting comments
concerning a proposed extension of the
information collection request (ICR)
titled ‘‘Work Study Programs of the
Child Labor Regulations.’’ 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). The
Department proposes to extend the
approval of this existing information
collection without change. This program
helps to ensure that requested data can
be provided in the desired format,
reporting burden (time and financial
resources) is minimized, collection
instruments are clearly understood, and
the impact of collection requirements on
respondents can be properly assessed. A
copy of the proposed information
request may be obtained by contacting
the office listed below in the FOR
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SUMMARY:
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17:07 Mar 15, 2024
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section of
this notice.
DATES: Written comments must be
submitted to the office listed in the
ADDRESSES section below on or before
May 17, 2024.
ADDRESSES: You may submit comments
identified by Control Number 1235–
0024, by either one of the following
methods:
• Email: WHDPRAComments@
dol.gov;
• Mail, Hand Delivery, Courier:
Division of Regulations, Legislation, and
Interpretation, Wage and Hour, U.S.
Department of Labor, Room S–3502, 200
Constitution Avenue NW, Washington,
DC 20210.
Instructions: Please submit one copy
of your comments by only one method.
All submissions received must include
the agency name and Control Number
identified above for this information
collection. Because we continue to
experience delays in receiving mail in
the Washington, DC area, commenters
are strongly encouraged to transmit their
comments electronically via email or to
submit them by mail early. Comments,
including any personal information
provided, become a matter of public
record. They will also be summarized
and/or included in the request for Office
of Management and Budget (OMB)
approval of the information collection
request.
FOR FURTHER INFORMATION CONTACT:
Robert Waterman, Division of
Regulations, Legislation, and
Interpretation, Wage and Hour Division,
U.S. Department of Labor, Room S–
3502, 200 Constitution Avenue NW,
Washington, DC 20210; telephone: (202)
693–0406 (this is not a toll-free
number). Alternate formats are available
upon request by calling 1–866–487–
9243. If you are deaf, hard of hearing,
or have a speech disability, please dial
7–1–1 to access telecommunications
relay services.
SUPPLEMENTARY INFORMATION:
FURTHER INFORMATION CONTACT
I. Background
The Wage and Hour Division (WHD)
of the Department of Labor administers
the Fair Labor Standards Act (FLSA), 29
U.S.C. 201, et seq. Section 3(l) of the Act
establishes a minimum age of 16 years
for most non-agricultural employment,
but allows the employment of 14- and
15-year olds in occupations other than
manufacturing and mining if the
Secretary of Labor determines such
employment is confined to: (1) periods
that will not interfere with the minor’s
schooling; and (2) conditions that will
not interfere with the minor’s health
and well-being. FLSA section 11(c)
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Frm 00069
Fmt 4703
Sfmt 4703
requires all covered employers to make,
keep, and preserve records of their
employees’ wages, hours, and other
conditions of employment. Section 11(c)
authorizes the Secretary of Labor to
prescribe the recordkeeping and
reporting requirements for these
records. The regulations set forth
reporting requirements that include a
Work Study Program application and
written participation agreement. In
order to use the child labor work study
provisions, § 570.37(b) requires a local
public or private school system to file
with the Wage and Hour Division
Administrator an application for
approval of a Work Study Program as
one that does not interfere with the
schooling or health and well-being of
the minors involved. The regulations
also require preparation of a written
participation agreement for each student
participating in a Work Study Program
and that the teacher-coordinator,
employer, and student each sign the
agreement.
II. Review Focus
The Department of Labor is
particularly interested in comments
which:
• 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;
• Enhance the quality, utility, and
clarity of the information to be
collected;
• 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;
• 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 submissions
of responses.
III. Current Actions
The Department of Labor seeks
approval for an extension of this
information collection in order to
ensure effective administration of Work
Study programs.
Type of Review: Extension.
Agency: Wage and Hour Division.
Title: Work Study Program of the
Child Labor Regulations.
OMB Control Number: 1235–0024.
Affected Public: Business or other forprofit, Not-for-profit institutions, Farms,
E:\FR\FM\18MRN1.SGM
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]]>Agencies
[Federal Register Volume 89, Number 53 (Monday, March 18, 2024)]
[Notices]
[Pages 19361-19362]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05645]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Investment Advice to Participants and
Beneficiaries
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 April 17, 2024.
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.
FOR FURTHER INFORMATION CONTACT: Michael Howell by telephone at 202-
693-6782, or by email at [email protected].
SUPPLEMENTARY INFORMATION: Under ERISA, providing ``investment advice''
is a fiduciary act. A fiduciary who advises participants about plan
investment opportunities that pay the adviser fees or commissions may
be subject to liability under the Employee Retirement Income Security
Act of 1974 (ERISA) prohibited transaction rules. The Pension
Protection Act of 2006 (Pub. L. 109-280) amended the ERISA and the
Internal Revenue Code (Code) to include a statutory exemption for
providing investment advice to participants and beneficiaries in self-
directed defined contribution individual account ERISA-covered plans
(Plans) and beneficiaries of individual retirement accounts, individual
retirement annuities, Archer MSAs, health savings accounts and
Coverdell education savings accounts (collectively IRAs) described in
the Code. The statutory exemption provides relief from the prohibited
transaction provisions of ERISA, and the parallel provisions of the
Code.
The information collections that are conditions of the regulation
include, third-party disclosures, recordkeeping, and audit
requirements. With one exception, the regulation does not require any
reporting or filing with the Federal government, but the designated
records must be made available upon request. The exception is the
requirement that the fiduciary adviser is required under certain
circumstances to forward the audit report which is also a required
disclosure under the regulation to the Department. For additional
substantive information about this ICR, see the related notice
published in the Federal Register on August 25, 2023 (88 FR 58312).
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) 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; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) 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.
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.
[[Page 19362]]
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: Investment Advice to Participants and
Beneficiaries.
OMB Control Number: 1210-0134.
Affected Public: Businesses or other for-profits.
Total Estimated Number of Respondents: 8,938.
Total Estimated Number of Responses: 24,698,107.
Total Estimated Annual Time Burden: 1,867,800 hours.
Total Estimated Annual Other Costs Burden: $247,377,814.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Michael Howell,
Senior Paperwork Reduction Act Analyst.
[FR Doc. 2024-05645 Filed 3-15-24; 8:45 am]
BILLING CODE 4510-29-P
