81 FR 50559 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Plan Asset Transactions Determined by In-House Asset Managers Under Prohibited Transaction Class Exemption 1996-23

DEPARTMENT OF LABOR
Office of the Secretary

Federal Register Volume 81, Issue 147 (August 1, 2016)

Page Range		50559-50560
FR Document		2016-18123

The Department of Labor (DOL) will submit the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ``Plan Asset Transactions Determined by In-House Asset Managers Under Prohibited Transaction Class Exemption 1996-23,'' to the Office of Management and Budget (OMB) on July 30, 2016, for review and approval for continued use, without change, in accordance with the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq. Public comments on the ICR are invited.

Federal Register, Volume 81 Issue 147 (Monday, August 1, 2016)

[Federal Register Volume 81, Number 147 (Monday, August 1, 2016)]
[Notices]
[Pages 50559-50560]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-18123]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Plan Asset Transactions Determined by In-House 
Asset Managers Under Prohibited Transaction Class Exemption 1996-23

AGENCY: Office of the Secretary, DOL.

ACTION: Notice.

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SUMMARY: The Department of Labor (DOL) will submit the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Plan Asset Transactions Determined 
by In-House Asset Managers Under Prohibited Transaction Class Exemption 
1996-23,'' to the Office of Management and Budget (OMB) on July 30, 
2016, for review and approval for continued use, without change, in 
accordance with the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 
3501 et seq. Public comments on the ICR are invited.

DATES: The OMB will consider all written comments that agency receives 
on or before August 31, 2016.

ADDRESSES: A copy of this ICR with applicable supporting documentation; 
including a description of the likely respondents, proposed frequency 
of response, and estimated total burden may be obtained free of charge 
from the RegInfo.gov Web site at http://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201605-1210-007 (this link will only become active 
on July 31, 2016) or by contacting Michel Smyth by telephone at 202-
693-4129, TTY 202-693-8064, (these are not toll-free numbers) or by 
email at [email protected].
    Submit comments about this request by mail or courier to the Office 
of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-
EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW., 
Washington, DC 20503; by Fax: 202-395-5806 (this is not a toll-free 
number); or by email: [email protected]. Commenters are 
encouraged, but not required, to send a courtesy copy of any comments 
by mail or courier to the U.S. Department of Labor-OASAM, Office of the 
Chief Information Officer, Attn: Departmental Information Compliance 
Management Program, Room N1301, 200 Constitution Avenue NW., 
Washington, DC 20210; or by email: [email protected].

FOR FURTHER INFORMATION CONTACT: Contact Michel Smyth by telephone at 
202-693-4129, TTY 202-693-8064, (these are not toll-free numbers) or by 
email at [email protected].

SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for 
the Plan Asset Transactions Determined by In-House Asset Managers Under 
Prohibited Transaction Class Exemption 1996-23 (PTE 96-23) information 
collection. PTE 96-23 permits various parties in interest to an 
employee benefit plan to engage in transactions involving plan assets 
if, among other requirements, the assets are managed by an in-house 
asset manager (INHAM). The information collection requirements that are 
PTE 96-23 conditions include written policies and procedures by an 
INHAM and audit requirements. An independent auditor will use the 
written policies and procedures to determine the INHAM's compliance 
with the exemption. An independent auditor will conduct an annual 
exemption audit and make a determination whether the INHAM is in 
compliance with the written policies and procedures and the objective 
requirements of the exemption. These information collections are 
designed to safeguard participants and beneficiaries in plans managed 
by INHAMS that are involved in transactions covered by the exemption. 
Employee Retirement Income Security Act of 1974 section 408(a) 
authorizes this information collection. See 29 U.S.C. 1108.
    This information collection is subject to the PRA. A Federal agency 
generally

[[Page 50560]]

cannot conduct or sponsor a collection of information, and the public 
is generally not required to respond to an information collection, 
unless it is approved by the OMB under the PRA 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 Control Number. See 5 CFR 1320.5(a) and 1320.6. The DOL 
obtains OMB approval for this information collection under Control 
Number 1210-0145.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and the DOL seeks to extend PRA authorization 
for this information collection for three (3) more years, without any 
change to existing requirements. The DOL notes that existing 
information collection requirements submitted to the OMB receive a 
month-to-month extension while they undergo review. For additional 
substantive information about this ICR, see the related notice 
published in the Federal Register on November 23, 2015 (80 FR 72990).
    Interested parties are encouraged to send comments to the OMB, 
Office of Information and Regulatory Affairs at the address shown in 
the ADDRESSES section within thirty (30) days of publication of this 
notice in the Federal Register. In order to help ensure appropriate 
consideration, comments should mention OMB Control Number 1210-0145. 
The OMB 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 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.
    Agency: DOL-EBSA.
    Title of Collection: Plan Asset Transactions Determined by In-House 
Asset Managers Under Prohibited Transaction Class Exemption 1996-23.
    OMB Control Number: 1210-0145.
    Affected Public: Private Sector--businesses or other for-profits 
and not-for profit institutions.
    Total Estimated Number of Respondents: 20.
    Total Estimated Number of Responses: 20.
    Total Estimated Annual Time Burden: 940 hours.
    Total Estimated Annual Other Costs Burden: $400,000.

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

    Dated: July 26, 2016.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2016-18123 Filed 7-29-16; 8:45 am]
 BILLING CODE 4510-29-P

Federal Register / Vol. 81, No. 147 / Monday, August 1, 2016 / Notices 50559

communication, training or changes in Frequency of Response: Once per PRAViewICR?ref_nbr=201605-1210-007
operations might improve delivery of request. (this link will only become active on
products or services. These collections Average Minutes per Response: 30 July 31, 2016) or by contacting Michel
will allow for ongoing, collaborative and min. Smyth by telephone at 202–693–4129,
actionable communications between the Burden Hours: 99,847. TTY 202–693–8064, (these are not toll-
Agency and its customers and Federal Government Cost: $176,925. free numbers) or by email at DOL_PRA_
stakeholders. It will also allow feedback An agency may not conduct or PUBLIC@dol.gov.
to contribute directly to the sponsor, and a person is not required to Submit comments about this request
improvement of program management. respond to, a collection of information by mail or courier to the Office of
Feedback collected under this generic unless it displays a currently valid Information and Regulatory Affairs,
clearance will provide useful Office of Management and Budget Attn: OMB Desk Officer for DOL–EBSA,
information, but it will not yield data control number. Office of Management and Budget,
that can be generalized to the overall If additional information is required Room 10235, 725 17th Street NW.,
population. This type of generic contact: Jerri Murray, Department Washington, DC 20503; by Fax: 202–
clearance for qualitative information Clearance Officer, United States 395–5806 (this is not a toll-free
will not be used for quantitative Department of Justice, Justice number); or by email: OIRA_
information collections that are Management Division, Policy and submission@omb.eop.gov. Commenters
designed to yield reliably actionable Planning Staff, Two Constitution are encouraged, but not required, to
results, such as monitoring trends over Square, 145 N Street NE., Room 3E– send a courtesy copy of any comments
time or documenting program 405B, Washington, DC 20530. by mail or courier to the U.S.
performance. Such data uses require Dated: July 27, 2016. Department of Labor-OASAM, Office of
more rigorous designs that address: The Jerri Murray,
the Chief Information Officer, Attn:
target population to which Departmental Information Compliance
Department Clearance Officer for PRA, U.S.
generalizations will be made, the Department of Justice.
Management Program, Room N1301,
sampling frame, the sample design 200 Constitution Avenue NW.,
[FR Doc. 2016–18084 Filed 7–29–16; 8:45 am]
(including stratification and clustering), Washington, DC 20210; or by email:
BILLING CODE 4410–ML–P
the precision requirements or power DOL_PRA_PUBLIC@dol.gov.
calculations that justify the proposed FOR FURTHER INFORMATION CONTACT:
sample size, the expected response rate, Contact Michel Smyth by telephone at
methods for assessing potential non- DEPARTMENT OF LABOR 202–693–4129, TTY 202–693–8064,
response bias, the protocols for data (these are not toll-free numbers) or by
Office of the Secretary
collection, and any testing procedures email at DOL_PRA_PUBLIC@dol.gov.
that were or will be undertaken prior Agency Information Collection SUPPLEMENTARY INFORMATION: This ICR
fielding the study. Depending on the Activities; Submission for OMB seeks to extend PRA authority for the
degree of influence the results are likely Review; Comment Request; Plan Asset Plan Asset Transactions Determined by
to have, such collections may still be Transactions Determined by In-House In-House Asset Managers Under
eligible for submission for other generic Asset Managers Under Prohibited Prohibited Transaction Class Exemption
mechanisms that are designed to yield Transaction Class Exemption 1996–23 1996–23 (PTE 96–23) information
quantitative results. collection. PTE 96–23 permits various
The Agency received no comments in AGENCY: Office of the Secretary, DOL. parties in interest to an employee
response to the 60-day notice published ACTION: Notice. benefit plan to engage in transactions
in the Federal Register FR 2010–32084, involving plan assets if, among other
December 21, 2010. SUMMARY: The Department of Labor requirements, the assets are managed by
Below we provide the Department of (DOL) will submit the Employee an in-house asset manager (INHAM).
Justice’s projected average estimates for Benefits Security Administration The information collection requirements
the next three years: 1 (EBSA) sponsored information that are PTE 96–23 conditions include
Current Actions: New collection of collection request (ICR) titled, ‘‘Plan written policies and procedures by an
information. Asset Transactions Determined by In- INHAM and audit requirements. An
Type of Review: New Collection. House Asset Managers Under Prohibited independent auditor will use the
Affected Public: Individuals and Transaction Class Exemption 1996–23,’’ written policies and procedures to
Households, Businesses and to the Office of Management and Budget determine the INHAM’s compliance
Organizations, State, Local or Tribal (OMB) on July 30, 2016, for review and with the exemption. An independent
Government. approval for continued use, without auditor will conduct an annual
Average Expected Annual Number of change, in accordance with the exemption audit and make a
Activities: 42. Paperwork Reduction Act of 1995
Average Number of Respondents per determination whether the INHAM is in
(PRA), 44 U.S.C. 3501 et seq. Public compliance with the written policies
Activity: 51,500. comments on the ICR are invited.
Annual Responses: 309,000. and procedures and the objective
DATES: The OMB will consider all requirements of the exemption. These
1 The 60-day notice included the following
written comments that agency receives information collections are designed to
estimate of the aggregate burden hours for this
on or before August 31, 2016. safeguard participants and beneficiaries
ADDRESSES: A copy of this ICR with
sradovich on DSK3GMQ082PROD with NOTICES

generic clearance federal-wide: in plans managed by INHAMS that are
Average Expected Annual Number of Activities: applicable supporting documentation; involved in transactions covered by the
25,000. including a description of the likely exemption. Employee Retirement
Average Number of Respondents per Activity:
200.
respondents, proposed frequency of Income Security Act of 1974 section
Annual Responses: 5,000,000. response, and estimated total burden 408(a) authorizes this information
Frequency of Response: Once per request. may be obtained free of charge from the collection. See 29 U.S.C. 1108.
Average Minutes per Response: 30. RegInfo.gov Web site at http:// This information collection is subject
Burden Hours: 2,500,000. www.reginfo.gov/public/do/ to the PRA. A Federal agency generally

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50560 Federal Register / Vol. 81, No. 147 / Monday, August 1, 2016 / Notices

cannot conduct or sponsor a collection Asset Managers Under Prohibited free numbers) or by email at DOL_PRA_
of information, and the public is Transaction Class Exemption 1996–23. PUBLIC@dol.gov.
generally not required to respond to an OMB Control Number: 1210–0145. Submit comments about this request
information collection, unless it is Affected Public: Private Sector— by mail or courier to the Office of
approved by the OMB under the PRA businesses or other for-profits and not- Information and Regulatory Affairs,
and displays a currently valid OMB for profit institutions. Attn: OMB Desk Officer for DOL–EBSA,
Control Number. In addition, Total Estimated Number of Office of Management and Budget,
notwithstanding any other provisions of Respondents: 20. Room 10235, 725 17th Street NW.,
law, no person shall generally be subject Total Estimated Number of Washington, DC 20503; by Fax: 202–
to penalty for failing to comply with a Responses: 20. 395–5806 (this is not a toll-free
collection of information that does not Total Estimated Annual Time Burden: number); or by email: OIRA_
display a valid Control Number. See 5 940 hours. submission@omb.eop.gov. Commenters
CFR 1320.5(a) and 1320.6. The DOL Total Estimated Annual Other Costs are encouraged, but not required, to
obtains OMB approval for this Burden: $400,000. send a courtesy copy of any comments
information collection under Control Authority: 44 U.S.C. 3507(a)(1)(D). by mail or courier to the U.S.
Number 1210–0145. Department of Labor-OASAM, Office of
Dated: July 26, 2016. the Chief Information Officer, Attn:
OMB authorization for an ICR cannot
Michel Smyth, Departmental Information Compliance
be for more than three (3) years without
renewal, and the DOL seeks to extend Departmental Clearance Officer. Management Program, Room N1301,
PRA authorization for this information [FR Doc. 2016–18123 Filed 7–29–16; 8:45 am] 200 Constitution Avenue NW.,
collection for three (3) more years, BILLING CODE 4510–29–P Washington, DC 20210; or by email:
without any change to existing DOL_PRA_PUBLIC@dol.gov.
requirements. The DOL notes that FOR FURTHER INFORMATION CONTACT:
existing information collection DEPARTMENT OF LABOR Contact Michel Smyth by telephone at
requirements submitted to the OMB 202–693–4129, TTY 202–693–8064,
Office of the Secretary (these are not toll-free numbers) or by
receive a month-to-month extension
while they undergo review. For Agency Information Collection email at DOL_PRA_PUBLIC@dol.gov.
additional substantive information Activities; Submission for OMB Authority: 44 U.S.C. 3507(a)(1)(D).
about this ICR, see the related notice Review; Comment Request; Plan Asset SUPPLEMENTARY INFORMATION: This ICR
published in the Federal Register on Transactions Determined by seeks to extend PRA authority for the
November 23, 2015 (80 FR 72990). Independent Qualified Professional Plan Asset Transactions Determined by
Interested parties are encouraged to Asset Managers Under Prohibited Independent Qualified Professional
send comments to the OMB, Office of Transaction Exemption 1984–14 Asset Managers Under Prohibited
Information and Regulatory Affairs at Transaction Exemption 1984–14 (PTE
the address shown in the ADDRESSES ACTION: Notice. 84–14) information collection. PTE 84–
section within thirty (30) days of 14 permits a party that is related to an
publication of this notice in the Federal SUMMARY: The Department of Labor
employee benefit plan to engage in
Register. In order to help ensure (DOL) will submit the Employee
transactions involving plan assets if,
appropriate consideration, comments Benefits Security Administration
among other conditions, the assets are
should mention OMB Control Number (EBSA) sponsored information
managed by a qualified professional
1210–0145. The OMB is particularly collection request (ICR) titled, ‘‘Plan
asset manager (QPAM) that is
interested in comments that: Asset Transactions Determined by
independent of the parties in interest.
• Evaluate whether the proposed Independent Qualified Professional
Additional relief is also available under
collection of information is necessary Asset Managers Under Prohibited
specific circumstances that are fully
for the proper performance of the Transaction Exemption 1984–14,’’ to the
addressed within the exemption. The
functions of the agency, including Office of Management and Budget
information collection requirements that
whether the information will have (OMB) on July 30, 2016, for review and
are conditions of the exemption include
practical utility; approval for continued use, without
written policies and procedures by a
• Evaluate the accuracy of the change, in accordance with the
QPAM and audit requirements. An
agency’s estimate of the burden of the Paperwork Reduction Act of 1995
independent auditor uses the written
proposed collection of information, (PRA), 44 U.S.C. 3501 et seq. Public
policies and procedures to determine
including the validity of the comments on the ICR are invited.
whether the QPAM is in compliance
methodology and assumptions used; DATES: The OMB will consider all with the written policies and
• Enhance the quality, utility, and written comments that agency receives procedures and whether the exemption
clarity of the information to be on or before August 31, 2016. conditions have been met. These
collected; and ADDRESSES: A copy of this ICR with information collections are designed to
• Minimize the burden of the applicable supporting documentation; safeguard participants and beneficiaries
collection of information on those who including a description of the likely in plans that are involved in
are to respond, including through the respondents, proposed frequency of transactions covered by the exemption.
use of appropriate automated, response, and estimated total burden PTE 84–14 does not require any
electronic, mechanical, or other may be obtained free of charge from the
sradovich on DSK3GMQ082PROD with NOTICES

reporting or filing with the Federal
technological collection techniques or RegInfo.gov Web site at http:// government. Employee Retirement
other forms of information technology, www.reginfo.gov/public/do/ Income Security Act of 1974 section
e.g., permitting electronic submission of PRAViewICR?ref_nbr=201605-1210-004 408(a) authorizes this information
responses. (this link will only become active on collection. See 29 U.S.C. 1108.
Agency: DOL–EBSA. July 31, 2016) or by contacting Michel This information collection is subject
Title of Collection: Plan Asset Smyth by telephone at 202–693–4129, to the PRA. A Federal agency generally
Transactions Determined by In-House TTY 202–693–8064, (these are not toll- cannot conduct or sponsor a collection

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Document Created: 2016-07-30 06:26:12
Document Modified: 2016-07-30 06:26:12

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice.
Dates		The OMB will consider all written comments that agency receives on or before August 31, 2016.
Contact		Contact Michel Smyth by telephone at 202-693-4129, TTY 202-693-8064, (these are not toll-free numbers) or by email at [email protected]
FR Citation		81 FR 50559

81 FR 50559 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Plan Asset Transactions Determined by In-House Asset Managers Under Prohibited Transaction Class Exemption 1996-23

DEPARTMENT OF LABOROffice of the Secretary

Federal Register Volume 81, Issue 147 (August 1, 2016)

DEPARTMENT OF LABOR
Office of the Secretary