82 FR 10409 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Loans To Plan Participants and Beneficiaries Who Are Parties in Interest With Respect to the Plan Regulation

DEPARTMENT OF LABOR
Office of the Secretary

Federal Register Volume 82, Issue 27 (February 10, 2017)

Page Range		10409-10410
FR Document		2017-02810

The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ``Loans to Plan Participants and Beneficiaries Who Are Parties In Interest With Respect to The Plan Regulation,'' 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 82 Issue 27 (Friday, February 10, 2017)

[Federal Register Volume 82, Number 27 (Friday, February 10, 2017)]
[Notices]
[Pages 10409-10410]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-02810]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Loans To Plan Participants and Beneficiaries 
Who Are Parties in Interest With Respect to the Plan Regulation

ACTION: Notice.

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

SUMMARY: The Department of Labor (DOL) is submitting the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Loans to Plan Participants and 
Beneficiaries Who Are Parties In Interest With Respect to The Plan 
Regulation,'' 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 March 13, 2017.

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=201701-1210-003 (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

[[Page 10410]]

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 Loans to Plan Participants and Beneficiaries Who Are Parties In 
Interest With Respect to The Plan Regulation information collection. 
More specifically, the ICR is for the information collections contained 
in the regulation related to plan participants and beneficiaries who 
are parties in interest with respect to the plan, 29 CFR 2550.408b-1. 
The Employee Retirement Income Security Act (ERISA) prohibits a plan 
fiduciary from causing the plan to engage in a transaction, if the 
fiduciary knows or should know the transaction constitutes a direct or 
indirect loan or extension of credit between the plan and a party in 
interest. ERISA section 408(b)(1) exempts from this prohibition a loan 
from a plan to a party in interest who is also a plan participant or 
beneficiary, provided satisfaction of certain requirements. DOL 
regulations implementing the statutory provision provide additional 
guidance. Specifically, regulations 29 CFR 2550.408b-1(d) prescribes 
eight specific provisions that must be included in the plan documents, 
including: (1) An explicit authorization for the plan fiduciary 
responsible for investing plan assets to establish such a loan program, 
(2) the identity of the person or position authorized to administer the 
program, (3) a procedure for applying for loans, (4) the basis on which 
loans will be approved or denied, (5) limitations, if any, on the types 
and amounts of loans offered, (6) the procedure for determining a 
reasonable interest rate, (7) types of collateral that may secure a 
participant loan, and (8) the events constituting default and the steps 
that will be taken to preserve plan assets in the event of such 
default. ERISA section 408(a) authorizes this information collection. 
See 29 U.S.C. 1108(a).
    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 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 1210-0076.
    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 February 28, 2017. 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 October 28, 2016 (81 FR 
75157).
    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 1210-0076. 
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: Loans to Plan Participants and Beneficiaries 
Who Are Parties In Interest With Respect to The Plan Regulation.
    OMB Control Number: 1210-0076.
    Affected Public: Private Sector--businesses or other for-profits 
and not-for-profit institutions.
    Total Estimated Number of Respondents: 2,556.
    Total Estimated Number of Responses: 2,556.
    Total Estimated Annual Time Burden: 0.
    Total Estimated Annual Other Costs Burden: $1,023,678.

    Dated: February 6, 2017.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2017-02810 Filed 2-9-17; 8:45 am]
 BILLING CODE 4510-29-P

Federal Register / Vol. 82, No. 27 / Friday, February 10, 2017 / Notices 10409

Department of Labor—OASAM, Office CFR 1320.5(a) and 1320.6. The DOL DEPARTMENT OF LABOR
of the Chief Information Officer, Attn: obtains OMB approval for this
Departmental Information Compliance information collection under Control Office of the Secretary
Management Program, Room N1301, Number 1220–0157. The current
200 Constitution Avenue NW., approval is scheduled to expire on May Agency Information Collection
Washington, DC 20210; or by email: 31, 2017; however, the DOL notes that Activities; Submission for OMB
DOL_PRA_PUBLIC@dol.gov. existing information collection Review; Comment Request; Loans To
FOR FURTHER INFORMATION CONTACT: requirements submitted to the OMB Plan Participants and Beneficiaries
Michel Smyth by telephone at 202–693– receive a month-to-month extension Who Are Parties in Interest With
4129, TTY 202–693–8064, (these are not while they undergo review. New Respect to the Plan Regulation
toll-free numbers) or sending an email requirements would only take effect ACTION: Notice.
to DOL_PRA_PUBLIC@dol.gov. upon OMB approval. For additional
Authority: 44 U.S.C. 3507(a)(1)(D).
substantive information about this ICR, SUMMARY: The Department of Labor
see the related notice published in the (DOL) is submitting the Employee
SUPPLEMENTARY INFORMATION: This ICR Federal Register on August 19, 2016 (81 Benefits Security Administration
seeks approval under the PRA for FR 55485). (EBSA) sponsored information
revisions to the National Longitudinal Interested parties are encouraged to collection request (ICR) titled, ‘‘Loans to
Survey of Youth 1997 (NLSY97) send comments to the OMB, Office of Plan Participants and Beneficiaries Who
information collection. The NLSY97 Information and Regulatory Affairs at Are Parties In Interest With Respect to
includes respondents who were born the address shown in the ADDRESSES
from 1980 through 1984 and lived in the The Plan Regulation,’’ to the Office of
section within thirty (30) days of Management and Budget (OMB) for
United States when the survey began in publication of this notice in the Federal
1997. The primary objective of the review and approval for continued use,
Register. In order to help ensure without change, in accordance with the
survey is to study the transition from appropriate consideration, comments
full-time schooling to the establishment Paperwork Reduction Act of 1995
should mention OMB Control Number (PRA), 44 U.S.C. 3501 et seq. Public
of careers and families. The longitudinal 1220–0157. The OMB is particularly
focus of the survey requires information comments on the ICR are invited.
interested in comments that: DATES: The OMB will consider all
to be collected about the same • Evaluate whether the proposed
individuals over many years in order to written comments that agency receives
collection of information is necessary
trace their education, training, work on or before March 13, 2017.
for the proper performance of the
experience, fertility, income, and ADDRESSES: A copy of this ICR with
functions of the agency, including
program participation. Research based whether the information will have applicable supporting documentation;
on the NLSY97 contributes to the practical utility; including a description of the likely
formation of national policy in the areas • Evaluate the accuracy of the respondents, proposed frequency of
of education, training, employment agency’s estimate of the burden of the response, and estimated total burden
programs, and school-to-work proposed collection of information, may be obtained free of charge from the
transitions. This information collection including the validity of the RegInfo.gov Web site at http://
has been classified as a revision, methodology and assumptions used; www.reginfo.gov/public/do/
because the NLSY97 will transition • Enhance the quality, utility, and PRAViewICR?ref_nbr=201701-1210-003
from interviews being conducted clarity of the information to be (this link will only become active on the
primarily in-person to being conducted collected; and day following publication of this notice)
primarily by telephone. The move to • Minimize the burden of the or by contacting Michel Smyth by
predominantly telephone interviewing collection of information on those who telephone at 202–693–4129, TTY 202–
results in slightly longer timings, are to respond, including through the 693–8064, (these are not toll-free
because the interviewer will administer use of appropriate automated, numbers) or by email at DOL_PRA_
components that were previously self- electronic, mechanical, or other PUBLIC@dol.gov.
administered by respondents. The technological collection techniques or Submit comments about this request
change in the data collection mode has other forms of information technology, by mail or courier to the Office of
also resulted in edits to the e.g., permitting electronic submission of Information and Regulatory Affairs,
questionnaire in order to adapt the responses. Attn: OMB Desk Officer for DOL–EBSA,
Round 18 instrument for predominantly Agency: DOL–BLS. Office of Management and Budget,
telephone administration. The BLS Title of Collection: National Room 10235, 725 17th Street NW.,
Authorizing Statue authorizes this Longitudinal Survey of Youth 1997. Washington, DC 20503; by Fax: 202–
information collection. See 29 U.S.C. 1, OMB Control Number: 1220–0157. 395–5806 (this is not a toll-free
2. Affected Public: Individuals or number); or by email: OIRA_
This information collection is subject Households. submission@omb.eop.gov. Commenters
to the PRA. A Federal agency generally Total Estimated Number of are encouraged, but not required, to
cannot conduct or sponsor a collection Respondents: 7,130. send a courtesy copy of any comments
Total Estimated Number of by mail or courier to the U.S.
of information, and the public is
Responses: 7,269. Department of Labor—OASAM, Office
generally not required to respond to an
Total Estimated Annual Time Burden: of the Chief Information Officer, Attn:
information collection, unless it is
8,565 hours. Departmental Information Compliance
approved by the OMB under the PRA
mstockstill on DSK3G9T082PROD with NOTICES

Total Estimated Annual Other Costs
and displays a currently valid OMB Management Program, Room N1301,
Burden: $0.
Control Number. In addition, 200 Constitution Avenue NW.,
notwithstanding any other provisions of Dated: February 6, 2017. Washington, DC 20210; or by email:
law, no person shall generally be subject Michel Smyth, DOL_PRA_PUBLIC@dol.gov.
to penalty for failing to comply with a Departmental Clearance Officer. FOR FURTHER INFORMATION CONTACT:
collection of information that does not [FR Doc. 2017–02807 Filed 2–9–17; 8:45 am] Michel Smyth by telephone at 202–693–
display a valid Control Number. See 5 BILLING CODE 4510–24–P 4129, TTY 202–693–8064, (these are not

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10410 Federal Register / Vol. 82, No. 27 / Friday, February 10, 2017 / Notices

toll-free numbers) or by email at DOL_ information collection under Control Total Estimated Annual Other Costs
PRA_PUBLIC@dol.gov. Number 1210–0076. Burden: $1,023,678.
Authority: 44 U.S.C. 3507(a)(1)(D). OMB authorization for an ICR cannot Dated: February 6, 2017.
be for more than three (3) years without Michel Smyth,
SUPPLEMENTARY INFORMATION: This ICR renewal, and the current approval for
seeks to extend PRA authority for the Departmental Clearance Officer.
this collection is scheduled to expire on
Loans to Plan Participants and [FR Doc. 2017–02810 Filed 2–9–17; 8:45 am]
February 28, 2017. The DOL seeks to
Beneficiaries Who Are Parties In Interest extend PRA authorization for this BILLING CODE 4510–29–P
With Respect to The Plan Regulation information collection for three (3) more
information collection. More years, without any change to existing
specifically, the ICR is for the DEPARTMENT OF LABOR
requirements. The DOL notes that
information collections contained in the existing information collection Office of Workers’ Compensation
regulation related to plan participants requirements submitted to the OMB Programs
and beneficiaries who are parties in receive a month-to-month extension
interest with respect to the plan, 29 CFR while they undergo review. For Division of Longshore and Harbor
2550.408b–1. The Employee Retirement additional substantive information Workers’ Compensation Proposed
Income Security Act (ERISA) prohibits a about this ICR, see the related notice Collection; Comment Request
plan fiduciary from causing the plan to published in the Federal Register on
engage in a transaction, if the fiduciary October 28, 2016 (81 FR 75157). ACTION: Notice.
knows or should know the transaction Interested parties are encouraged to
constitutes a direct or indirect loan or send comments to the OMB, Office of SUMMARY: The Department of Labor, as
extension of credit between the plan Information and Regulatory Affairs at part of its continuing effort to reduce
and a party in interest. ERISA section the address shown in the ADDRESSES paperwork and respondent burden,
408(b)(1) exempts from this prohibition section within thirty (30) days of conducts a preclearance consultation
a loan from a plan to a party in interest publication of this notice in the Federal program to provide the general public
who is also a plan participant or Register. In order to help ensure and Federal agencies with an
beneficiary, provided satisfaction of appropriate consideration, comments opportunity to comment on proposed
certain requirements. DOL regulations should mention OMB Control Number and/or continuing collections of
implementing the statutory provision 1210–0076. The OMB is particularly information in accordance with the
provide additional guidance. interested in comments that: paperwork Reduction Act of 1995
Specifically, regulations 29 CFR • Evaluate whether the proposed (PRA95) [44 U.S.C. 3506(c)(2)(A)] This
2550.408b–1(d) prescribes eight specific collection of information is necessary program helps to ensure that requested
provisions that must be included in the for the proper performance of the data can be provided in the desired
plan documents, including: (1) An functions of the agency, including format, reporting burden (time and
explicit authorization for the plan whether the information will have financial resources) is minimized,
fiduciary responsible for investing plan practical utility; collection instruments are clearly
assets to establish such a loan program, • Evaluate the accuracy of the understood, and the impact of collection
(2) the identity of the person or position agency’s estimate of the burden of the requirements on respondents can be
authorized to administer the program, proposed collection of information, properly assessed. Currently, the Office
(3) a procedure for applying for loans, including the validity of the of Workers’ Compensation (OWCP) is
(4) the basis on which loans will be methodology and assumptions used; soliciting comments concerning the
proposed collection: Certification of
approved or denied, (5) limitations, if • Enhance the quality, utility, and
any, on the types and amounts of loans Funeral Expenses (LS–265). A copy of
clarity of the information to be
offered, (6) the procedure for the proposed information collection
collected; and
determining a reasonable interest rate, request can be obtained by contacting
• Minimize the burden of the
(7) types of collateral that may secure a the office listed below in the address
collection of information on those who
participant loan, and (8) the events section of this Notice.
are to respond, including through the
constituting default and the steps that use of appropriate automated, DATES: Written comments must be
will be taken to preserve plan assets in electronic, mechanical, or other submitted to the office listed in the
the event of such default. ERISA section technological collection techniques or addresses section below on or before
408(a) authorizes this information other forms of information technology, April 11, 2017.
collection. See 29 U.S.C. 1108(a). e.g., permitting electronic submission of ADDRESSES: Ms. Yoon Ferguson, U.S.
This information collection is subject responses. Department of Labor, 200 Constitution
to the PRA. A Federal agency generally Agency: DOL–EBSA. Ave. NW., Room S–3201, Washington,
cannot conduct or sponsor a collection Title of Collection: Loans to Plan DC 20210, telephone/fax (202) 354–
of information, and the public is Participants and Beneficiaries Who Are 9647, Email ferguson.yoon@dol.gov.
generally not required to respond to an Parties In Interest With Respect to The Please use only one method of
information collection, unless it is Plan Regulation. transmission for comments (mail, fax, or
approved by the OMB under the PRA OMB Control Number: 1210–0076. Email).
and displays a currently valid OMB Affected Public: Private Sector— SUPPLEMENTARY INFORMATION:
Control Number. In addition, businesses or other for-profits and not- I. Background: The Office of Workers’
mstockstill on DSK3G9T082PROD with NOTICES

notwithstanding any other provisions of for-profit institutions. Compensation Programs, (OWCP)
law, no person shall generally be subject Total Estimated Number of administers the Longshore and Harbor
to penalty for failing to comply with a Respondents: 2,556. Workers’ Compensation Act. The Act
collection of information that does not Total Estimated Number of provides benefits to workers injured in
display a valid Control Number. See 5 Responses: 2,556. maritime employment on the navigable
CFR 1320.5(a) and 1320.6. The DOL Total Estimated Annual Time waters of the United States or in an
obtains OMB approval for this Burden: 0. adjoining area customarily used by an

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Document Created: 2017-02-11 18:14:50
Document Modified: 2017-02-11 18:14:50

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 March 13, 2017.
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		82 FR 10409

82 FR 10409 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Loans To Plan Participants and Beneficiaries Who Are Parties in Interest With Respect to the Plan Regulation

DEPARTMENT OF LABOROffice of the Secretary

Federal Register Volume 82, Issue 27 (February 10, 2017)

DEPARTMENT OF LABOR
Office of the Secretary