81 FR 54851 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption for Certain Transactions Between Investment Companies and Employee Benefit Plans (PTE 1977-4)

DEPARTMENT OF LABOR
Office of the Secretary

Federal Register Volume 81, Issue 159 (August 17, 2016)

Page Range		54851-54852
FR Document		2016-19613

The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ``Prohibited Transaction Class Exemption for Certain Transactions Between Investment Companies and Employee Benefit Plans (PTE 1977-4),'' to the Office of Management and Budget (OMB) 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 159 (Wednesday, August 17, 2016)

[Federal Register Volume 81, Number 159 (Wednesday, August 17, 2016)]
[Notices]
[Pages 54851-54852]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-19613]


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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 for 
Certain Transactions Between Investment Companies and Employee Benefit 
Plans (PTE 1977-4)

ACTION: Notice.

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

SUMMARY: The Department of Labor (DOL) is submitting the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Prohibited Transaction Class 
Exemption for Certain Transactions Between Investment Companies and 
Employee Benefit Plans (PTE 1977-4),'' to the Office of Management and 
Budget (OMB) 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 September 16, 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=201607-1210-005 (this link will only become active 
on the day following publication of this notice) 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: Michel Smyth by telephone at 202-693-
4129, TTY 202-693-8064, (these are not toll-free numbers) or by email 
at [email protected].

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

SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for 
the information collection requirements contained in the Prohibited 
Transaction Class Exemption for Certain Transactions Between Investment 
Companies and Employee Benefit Plans (PTE 1977-4). Under circumstances 
the Employee Retirement Income Security Act (ERISA) would otherwise 
prohibit, PTE 1977-4 permits an employee benefit plan to purchase and 
sell shares of an open-end investment company (mutual fund) when a 
fiduciary with respect to the plan is also the investment advisor for 
the mutual fund. PTE 1977-4 incorporates three basic disclosure 
requirements. The first requirement is to disclose any redemption fees 
in the current prospectus of the open-end mutual fund. The second 
requirement is that, at the time of the purchase or sale of such mutual 
fund shares, an independent fiduciary receive a copy of the current 
prospectus issued by the open-end mutual fund and full written 
disclosure of the investment advisory fees charged to or paid by the 
plan and the open-end mutual fund to the investment advisor. The third 
requirement is that the independent fiduciary (1) be notified of any 
changes in the fees and (2) give written approval for the plan to 
purchase or sell affected mutual fund shares or the plan to continue 
possession of any such mutual fund shares acquired before the fee 
changes. ERISA section 408(a) and Internal Revenue Code section 
4975(c)(2) authorize this information collection. See 29 U.S.C. 
1108(a); 26 U.S.C. 4975(c)(2).
    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 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 1210-0049.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and the current approval for this collection is 
scheduled to expire on August 31, 2016. 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 May 26, 2016 (81 FR 33550).
    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 1210-0049. 
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

[[Page 54852]]

technological collection techniques or other forms of information 
technology, e.g., permitting electronic submission of responses.
    Agency: DOL-EBSA.
    Title of Collection: Prohibited Transaction Class Exemption for 
Certain Transactions Between Investment Companies and Employee Benefit 
Plans (PTE 1977-4).
    OMB Control Number: 1210-0049.
    Affected Public: Private Sector--businesses or other for-profits 
and not-for-profit institutions.
    Total Estimated Number of Respondents: 873.
    Total Estimated Number of Responses: 271,238.
    Total Estimated Annual Time Burden: 23,040 hours.
    Total Estimated Annual Other Costs Burden: $117,069.

     Dated: August 11, 2016.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2016-19613 Filed 8-16-16; 8:45 am]
 BILLING CODE 4510-29-P

Federal Register / Vol. 81, No. 159 / Wednesday, August 17, 2016 / Notices 54851

before the ACA between the time of this telephone at 202–693–4129, TTY 202– ERISA section 408(a) and Internal
publication and the scheduled date of 693–8064, (these are not toll-free Revenue Code section 4975(c)(2)
the ACA meeting. All meeting updates numbers) or by email at DOL_PRA_ authorize this information collection.
will be posted to the Office of PUBLIC@dol.gov. See 29 U.S.C. 1108(a); 26 U.S.C.
Apprenticeship’s homepage: http:// Submit comments about this request 4975(c)(2).
www.dol.gov/apprenticeship. Any by mail or courier to the Office of A Federal agency generally cannot
member of the public who wishes to Information and Regulatory Affairs, conduct or sponsor a collection of
speak at the meeting should indicate the Attn: OMB Desk Officer for DOL–EBSA, information, and the public is generally
nature of the intended presentation and Office of Management and Budget, not required to respond to an
the amount of time needed by Room 10235, 725 17th Street NW., information collection, unless it is
furnishing a written statement to the Washington, DC 20503; by Fax: 202– approved by the OMB under the PRA
Designated Federal Official, Mr. John V. 395–5806 (this is not a toll-free and displays a currently valid OMB
Ladd, by Tuesday, September 20, 2016. number); or by email: OIRA_ Control Number. In addition,
The Chairperson will announce at the submission@omb.eop.gov. Commenters notwithstanding any other provisions of
beginning of the meeting the extent to are encouraged, but not required, to law, no person shall generally be subject
which time will permit the granting of send a courtesy copy of any comments to penalty for failing to comply with a
such requests. by mail or courier to the U.S. collection of information that does not
Department of Labor—OASAM, Office display a valid Control Number. See 5
Portia Wu,
of the Chief Information Officer, Attn: CFR 1320.5(a) and 1320.6. The DOL
Assistant Secretary for the Employment and Departmental Information Compliance obtains OMB approval for this
Training Administration.
Management Program, Room N1301, information collection under Control
[FR Doc. 2016–19615 Filed 8–16–16; 8:45 am] 200 Constitution Avenue NW., Number 1210–0049.
BILLING CODE 4510–FR–P Washington, DC 20210; or by email: OMB authorization for an ICR cannot
DOL_PRA_PUBLIC@dol.gov. be for more than three (3) years without
FOR FURTHER INFORMATION CONTACT: renewal, and the current approval for
DEPARTMENT OF LABOR this collection is scheduled to expire on
Michel Smyth by telephone at 202–693–
4129, TTY 202–693–8064, (these are not August 31, 2016. The DOL seeks to
Office of the Secretary
toll-free numbers) or by email at DOL_ extend PRA authorization for this
Agency Information Collection PRA_PUBLIC@dol.gov. information collection for three (3) more
Activities; Submission for OMB years, without any change to existing
Authority: 44 U.S.C. 3507(a)(1)(D).
Review; Comment Request; Prohibited requirements. The DOL notes that
SUPPLEMENTARY INFORMATION: This ICR existing information collection
Transaction Class Exemption for seeks to extend PRA authority for the
Certain Transactions Between requirements submitted to the OMB
information collection requirements receive a month-to-month extension
Investment Companies and Employee contained in the Prohibited Transaction
Benefit Plans (PTE 1977–4) while they undergo review. For
Class Exemption for Certain additional substantive information
ACTION: Notice. Transactions Between Investment about this ICR, see the related notice
Companies and Employee Benefit Plans published in the Federal Register on
SUMMARY: The Department of Labor (PTE 1977–4). Under circumstances the May 26, 2016 (81 FR 33550).
(DOL) is submitting the Employee Employee Retirement Income Security Interested parties are encouraged to
Benefits Security Administration Act (ERISA) would otherwise prohibit, send comments to the OMB, Office of
(EBSA) sponsored information PTE 1977–4 permits an employee Information and Regulatory Affairs at
collection request (ICR) titled, benefit plan to purchase and sell shares the address shown in the ADDRESSES
‘‘Prohibited Transaction Class of an open-end investment company section within thirty (30) days of
Exemption for Certain Transactions (mutual fund) when a fiduciary with publication of this notice in the Federal
Between Investment Companies and respect to the plan is also the Register. In order to help ensure
Employee Benefit Plans (PTE 1977–4),’’ investment advisor for the mutual fund. appropriate consideration, comments
to the Office of Management and Budget PTE 1977–4 incorporates three basic should mention OMB Control Number
(OMB) for review and approval for disclosure requirements. The first 1210–0049. The OMB is particularly
continued use, without change, in requirement is to disclose any interested in comments that:
accordance with the Paperwork redemption fees in the current • Evaluate whether the proposed
Reduction Act of 1995 (PRA), 44 U.S.C. prospectus of the open-end mutual collection of information is necessary
3501 et seq. Public comments on the fund. The second requirement is that, at for the proper performance of the
ICR are invited. the time of the purchase or sale of such functions of the agency, including
DATES: The OMB will consider all mutual fund shares, an independent whether the information will have
written comments that agency receives fiduciary receive a copy of the current practical utility;
on or before September 16, 2016. prospectus issued by the open-end • Evaluate the accuracy of the
ADDRESSES: A copy of this ICR with mutual fund and full written disclosure agency’s estimate of the burden of the
applicable supporting documentation; of the investment advisory fees charged proposed collection of information,
including a description of the likely to or paid by the plan and the open-end including the validity of the
respondents, proposed frequency of mutual fund to the investment advisor. methodology and assumptions used;
response, and estimated total burden The third requirement is that the • Enhance the quality, utility, and
mstockstill on DSK3G9T082PROD with NOTICES

may be obtained free of charge from the independent fiduciary (1) be notified of clarity of the information to be
RegInfo.gov Web site at http:// any changes in the fees and (2) give collected; and
www.reginfo.gov/public/do/ written approval for the plan to • Minimize the burden of the
PRAViewICR?ref_nbr=201607-1210-005 purchase or sell affected mutual fund collection of information on those who
(this link will only become active on the shares or the plan to continue are to respond, including through the
day following publication of this notice) possession of any such mutual fund use of appropriate automated,
or by contacting Michel Smyth by shares acquired before the fee changes. electronic, mechanical, or other

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54852 Federal Register / Vol. 81, No. 159 / Wednesday, August 17, 2016 / Notices

technological collection techniques or numbers) or sending an email to DOL_ informing respondents with disabilities
other forms of information technology, PRA_PUBLIC@dol.gov. how they may obtain assistance in filing
e.g., permitting electronic submission of Submit comments about this request a claim. A certification on Form CA–41
responses. by mail or courier to the Office of has also been clarified and direct
Agency: DOL–EBSA. Information and Regulatory Affairs, deposit information has been added.
Title of Collection: Prohibited Attn: OMB Desk Officer for DOL– This information collection is subject
Transaction Class Exemption for Certain OWCP, Office of Management and to the PRA. A Federal agency generally
Transactions Between Investment Budget, Room 10235, 725 17th Street cannot conduct or sponsor a collection
Companies and Employee Benefit Plans NW., Washington, DC 20503; by Fax: of information, and the public is
(PTE 1977–4). 202–395–5806 (this is not a toll-free generally not required to respond to an
OMB Control Number: 1210–0049. number); or by email: OIRA_ information collection, unless it is
Affected Public: Private Sector— submission@omb.eop.gov. Commenters approved by the OMB under the PRA
businesses or other for-profits and not- are encouraged, but not required, to and displays a currently valid OMB
for-profit institutions. send a courtesy copy of any comments Control Number. In addition,
Total Estimated Number of by mail or courier to the U.S. notwithstanding any other provisions of
Respondents: 873. Department of Labor-OASAM, Office of law, no person shall generally be subject
Total Estimated Number of the Chief Information Officer, Attn: to penalty for failing to comply with a
Responses: 271,238. Departmental Information Compliance collection of information that does not
Total Estimated Annual Time Burden: Management Program, Room N1301, display a valid Control Number. See 5
23,040 hours. 200 Constitution Avenue NW., CFR 1320.5(a) and 1320.6. The DOL
Total Estimated Annual Other Costs Washington, DC 20210; or by email: obtains OMB approval for this
Burden: $117,069. DOL_PRA_PUBLIC@dol.gov. information collection under Control
Dated: August 11, 2016. FOR FURTHER INFORMATION CONTACT: Number 1240–0017. The current
Michel Smyth, Michel Smyth by telephone at 202–693– approval is scheduled to expire on
Departmental Clearance Officer. 4129, TTY 202–693–8064, (these are not August 31, 2016; however, the DOL
[FR Doc. 2016–19613 Filed 8–16–16; 8:45 am] toll-free numbers) or sending an email notes that existing information
to DOL_PRA_PUBLIC@dol.gov. collection requirements submitted to the
BILLING CODE 4510–29–P
OMB receive a month-to-month
Authority: 44 U.S.C. 3507(a)(1)(D).
extension while they undergo review.
SUPPLEMENTARY INFORMATION: This ICR New requirements would only take
DEPARTMENT OF LABOR seeks approval under the PRA for effect upon OMB approval. For
revisions to the Death Gratuity Forms. additional substantive information
Office of the Secretary
The National Defense Authorization Act about this ICR, see the related notice
Agency Information Collection for Fiscal Year 2008, Public Law 110– published in the Federal Register on
Activities; Submission for OMB 181, amended the Federal Employees’ April 13, 2016 (81 FR 21905).
Review; Comment Request; Death Compensation Act (FECA) by Interested parties are encouraged to
Gratuity establishing a FECA death gratuity send comments to the OMB, Office of
benefit of up to $100,000 for eligible Information and Regulatory Affairs at
ACTION: Notice. beneficiaries of Federal employees and the address shown in the ADDRESSES
Non-Appropriated Fund Instrumentality section within thirty (30) days of
SUMMARY: The Department of Labor employees who die from injuries
(DOL) is submitting the Office of publication of this notice in the Federal
incurred in connection with service Register. In order to help ensure
Workers’ Compensation Programs with an Armed Force in a contingency
(OWCP) sponsored information appropriate consideration, comments
operation. The OWCP associates three should mention OMB Control Number
collection request (ICR) revision titled, forms with this ICR. Form CA–40
‘‘Death Gratuity,’’ to the Office of 1240–0017. The OMB is particularly
requests information necessary from an interested in comments that:
Management and Budget (OMB) for employee who chooses to name • Evaluate whether the proposed
review and approval for use in alternate beneficiaries from those collection of information is necessary
accordance with the Paperwork otherwise established by law. Form CA– for the proper performance of the
Reduction Act (PRA) of 1995 (44 U.S.C. 41 provides the means for those named functions of the agency, including
3501 et seq.). Public comments on the beneficiaries to file benefit claims. whether the information will have
ICR are invited. Information provided by such claimants practical utility;
DATES: The OMB will consider all allows the OWCP to determine payment • Evaluate the accuracy of the
written comments that agency receives eligibility. The statute and regulations agency’s estimate of the burden of the
on or before September 16, 2016. also require Agencies to notify the proposed collection of information,
ADDRESSES: A copy of this ICR with OWCP immediately upon the death of a including the validity of the
applicable supporting documentation; covered employee, and Form CA–42 methodology and assumptions used;
including a description of the likely provides the means to accomplish this • Enhance the quality, utility, and
respondents, proposed frequency of notification. This latter form requests clarity of the information to be
response, and estimated total burden information necessary to administer any collected; and
may be obtained free of charge from the claim for benefits resulting from such a • Minimize the burden of the
RegInfo.gov Web site at http:// death. The Federal Employee collection of information on those who
mstockstill on DSK3G9T082PROD with NOTICES

www.reginfo.gov/public/do/ Compensation Act authorizes this are to respond, including through the
PRAViewICR?ref_nbr=201603–1240–001 information collection. See 5 U.S.C. use of appropriate automated,
(this link will only become active on the 8145, 8149. electronic, mechanical, or other
day following publication of this notice) This information collection has been technological collection techniques or
or by contacting Michel Smyth by classified as a revision, because of other forms of information technology,
telephone at 202–693–4129, TTY 202– changes to the forms. For example, each e.g., permitting electronic submission of
693–8064, (these are not toll-free form has enhanced the statement responses.

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Document Created: 2018-02-09 11:35:11
Document Modified: 2018-02-09 11:35:11

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 September 16, 2016.
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 54851

81 FR 54851 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption for Certain Transactions Between Investment Companies and Employee Benefit Plans (PTE 1977-4)

DEPARTMENT OF LABOROffice of the Secretary

Federal Register Volume 81, Issue 159 (August 17, 2016)

DEPARTMENT OF LABOR
Office of the Secretary