82 FR 23303 - Proposed Extension of Information Collection Requests Submitted for Public Comment

DEPARTMENT OF LABOR
Employee Benefits Security Administration

Federal Register Volume 82, Issue 97 (May 22, 2017)

Page Range		23303-23307
FR Document		2017-10394
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA), provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the public's reporting burden. It also helps the public understand the Department's information collection requirements and provide the requested data in the desired format. The Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collection requests (ICRs) contained in the documents described below. A copy of the ICRs may be obtained by contacting the office listed in the ADDRESSES section of this notice. ICRs also are available at reginfo.gov (http://www.reginfo.gov/public/ do/PRAMain).
Federal Register, Volume 82 Issue 97 (Monday, May 22, 2017)
[Federal Register Volume 82, Number 97 (Monday, May 22, 2017)]
[Notices]
[Pages 23303-23307]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-10394]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection Requests Submitted 
for Public Comment

AGENCY: Employee Benefits Security Administration, Department of Labor.

ACTION: Notice.

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SUMMARY: The Department of Labor (the Department), in accordance with 
the Paperwork Reduction Act of 1995 (PRA), provides the general public 
and Federal agencies with an opportunity to comment on proposed and 
continuing collections of information. This helps the Department assess 
the impact of its information collection requirements and minimize the 
public's reporting burden. It also helps the public understand the 
Department's information collection requirements and provide the 
requested data in the desired format. The Employee Benefits Security 
Administration (EBSA) is soliciting comments on the proposed extension 
of the information collection requests (ICRs) contained in the 
documents described below. A copy of the ICRs may be obtained by 
contacting the office listed in the ADDRESSES section of this notice. 
ICRs also are available at reginfo.gov (http://www.reginfo.gov/public/do/PRAMain).

DATES: Written comments must be submitted to the office shown in the 
Addresses section on or before July 21, 2017.

ADDRESSES: G. Christopher Cosby, Department of Labor, Employee Benefits 
Security Administration, 200 Constitution Avenue NW., Room N-5718, 
Washington, DC 20210, [email protected], (202) 693-8410, FAX (202) 693-
4745 (these are not toll-free numbers).

SUPPLEMENTARY INFORMATION: This notice requests public comment on the 
Department's request for extension of the Office of Management and 
Budget's (OMB) approval of ICRs contained in the rules and prohibited 
transaction exemptions described below. The Department is not proposing 
any changes to the existing ICRs at this time. An agency may not 
conduct or sponsor, and a person is not required to respond to, an 
information collection unless it displays a valid OMB control number. A 
summary of the ICRs and the current burden estimates follows:

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Prohibited Transaction Exemption (PTE) 81-8 for Investment 
of Plan Assets in Certain Types of Short-Term Investments.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0061.
    Affected Public: Businesses or other for-profits, Not-for-profit 
institutions.
    Respondents: 65,000.
    Responses: 325,000.
    Estimated Total Burden Hours: 81,000.
    Estimated Total Burden Cost (Operating and Maintenance): $99,000.
    Description: PTE 81-8 permits the investment of plan assets that 
involve

[[Page 23304]]

the purchase or other acquisition, holding, sale, exchange or 
redemption by or on behalf of an employee benefit plan in certain types 
of short-term investments. These include investments in banker's 
acceptances, commercial paper, repurchase agreements, certificates of 
deposit, and bank securities. Absent the exemption, certain aspects of 
these transactions might be prohibited by section 406 and 407(a) of the 
Employee Retirement Income Security Act (ERISA).
    In order to ensure that the exemption is not abused, that the 
rights of participants and beneficiaries are protected, and that the 
conditions of the exemption have been satisfied, the Department has 
included in the exemption two basic disclosure requirements. Both 
affect only the portion of the exemption dealing with repurchase 
agreements. The first requirement calls for the repurchase agreements 
between the seller and the plan to be in writing. The second 
requirement obliges the seller of such repurchase agreements to agree 
to provide financial statements to the plan at the time of the sale and 
as future statements are issued. The seller must also represent, either 
in the repurchase agreement or prior to the negotiation of each 
repurchase agreement transaction, that there has been no material 
adverse change in the seller's financial condition since the date that 
the most recent financial statement was furnished which has not been 
disclosed to the plan fiduciary with whom the written agreement is 
made. Without the recording and disclosure requirements included in 
this ICR, participants and beneficiaries of a plan would not be 
protected in their investments, the Department would be unable to 
monitor a plan's activities for compliance, and plans would be at a 
disadvantage in assessing the value of certain short-term investment 
activities. The ICR was approved by OMB under OMB Control Number 1210-
0061 and is scheduled to expire on August 31, 2017.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Suspension of Pension Benefits Regulation Pursuant to 29 CFR 
2530.203-3.
    Type of Review: Extension of a currently approved information 
collection.
    OMB Number: 1210-0048.
    Affected Public: Businesses or other for-profits.
    Respondents: 39,500.
    Responses: 171,000.
    Estimated Total Burden Hours: 133,000.
    Estimated Total Burden Cost (Operating and Maintenance): $63,000.
    Description: Section 203(a)(3)(B) of ERISA governs the 
circumstances under which pension plans may suspend pension benefit 
payments to retirees that return to work or to participants that 
continue to work beyond normal retirement age. Furthermore, section 
203(a)(3)(B) of ERISA authorizes the Secretary to prescribe regulations 
necessary to carry out the provisions of this section.
    In this regard, the Department issued a regulation which describes 
the circumstances and conditions under which plans may suspend the 
pension benefits of retirees that return to work, or of participants 
that continue to work beyond normal retirement age (29 CFR 2530.203-3). 
In order for a plan to suspend benefits pursuant to the regulation, it 
must notify affected retirees or participants (by first class mail or 
personal delivery) during the first calendar month or payroll period in 
which the plan withholds payment, that benefits are suspended. This 
notice must include the specific reasons for such suspension, a general 
description of the plan provisions authorizing the suspension, a copy 
of the relevant plan provisions, and a statement indicating where the 
applicable regulations may be found (i.e., 29 CFR 2530.203-3). In 
addition, the suspension notification must inform the retiree or 
participant of the plan's procedure for affording a review of the 
suspension of benefits. The ICR was approved by OMB under OMB Control 
Number 1210-0048 and is scheduled to expire on September 30, 2017.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Delinquent Filer Voluntary Compliance Program.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0089.
    Affected Public: Businesses or other for-profits.
    Respondents: 12,204.
    Responses: 12,204.
    Estimated Total Burden Hours: 610.
    Estimated Total Burden Cost (Operating and Maintenance): $742,000.
    Description: The Secretary of Labor has the authority, under 
section 502(c)(2) of ERISA, to assess civil penalties of up to $1,000 a 
day against plan administrators who fail or refuse to file complete and 
timely annual reports (Form 5500 Series Annual Return/Reports) as 
required under section 101(b)(4) of ERISA-related regulations. Pursuant 
to 29 CFR 2560.502c-2 and 2570.60 et seq., EBSA has maintained a 
program for the assessment of civil penalties for noncompliance with 
the annual reporting requirements. Under this program, plan 
administrators filing annual reports after the date on which the report 
was required to be filed may be assessed $50 per day for each day an 
annual report is filed after the date on which the annual report(s) was 
required to be filed, without regard to any extensions for filing.
    Plan administrators who fail to file an annual report may be 
assessed a penalty of $300 per day, up to $30,000 per year, until a 
complete annual report is filed. Penalties are applicable to each 
annual report required to be filed under Title I of ERISA. The 
Department may, in its discretion, waive all or part of a civil penalty 
assessed under section 502(c)(2) of ERISA upon a showing by the 
administrator that there was reasonable cause for the failure to file a 
complete and timely annual report.
    The Department has determined that the possible assessment of these 
civil penalties may deter certain delinquent filers from voluntarily 
complying with the annual reporting requirements under Title I of 
ERISA. In an effort to encourage annual reporting compliance, 
therefore, the Department implemented the Delinquent Filer Voluntary 
Compliance (DFVC) Program (the Program) on April 27, 1995 (60 FR 
20873). Under the Program, administrators otherwise subject to the 
assessment of higher civil penalties are permitted to pay reduced civil 
penalties for voluntarily complying with the annual reporting 
requirements under Title I of ERISA.
    This ICR covers the requirement for administrators to provide data 
necessary to identify the plan along with the penalty payment. This 
data is the means by which each penalty payment is associated with the 
appropriate plan. With respect to most pension plans and welfare plans, 
the requirement is satisfied by sending a photocopy of the delinquent 
Form 5500 annual report that has been filed, along with the penalty 
payment.
    Under current regulations, apprenticeship and training plans may be 
exempted from the reporting and disclosure requirements of Part 1 of 
Title I, and certain pension plans maintained for highly compensated 
employees, commonly called ``top hat'' plans, may comply with these 
reporting and disclosure requirements by using an alternate method by 
filing a one-time identifying statement with the Department. The DFVC 
Program provides that apprenticeship and training plans and top hat 
plans may, in

[[Page 23305]]

lieu of filing any past due annual reports and paying otherwise 
applicable civil penalties, complete and file specific portions of a 
Form 5500, file the identifying statements that were required to be 
filed, and pay a one-time penalty. The ICR was approved by OMB under 
OMB Control Number 1210-0089 and is scheduled to expire on September 
30, 2017.
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: PTE 98-54--Relating to Certain Employee Benefit Plan Foreign 
Exchange Transactions Executed Pursuant to Standing Instructions.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0111.
    Affected Public: Businesses or other for-profits.
    Respondents: 35.
    Responses: 420,000.
    Estimated Total Burden Hours: 4,200.
    Estimated Total Burden Cost (Operating and Maintenance): $0.
    Description: PTE 98-54 permits certain foreign exchange 
transactions between employee benefit plans and certain banks, broker-
dealers, and domestic affiliates thereof, which are parties in interest 
with respect to such plans, pursuant to standing instructions. In the 
absence of an exemption, foreign exchange transactions pursuant to 
standing instructions would be prohibited under circumstances where the 
bank or broker-dealer is a party in interest or disqualified person 
with respect to the plan under ERISA or the Internal Revenue Code 
(Code).
    The class exemption has five basic information collection 
requirements. The first requires the bank or broker-dealer to maintain 
written policies and procedures for handling foreign exchange 
transactions for plans for which it is a party in interest that ensure 
that the party acting for the bank or broker-dealer knows it is dealing 
with a plan. The second requires that the transactions are performed in 
accordance with a written authorization executed in advance by an 
independent fiduciary of the plan. The third requires that the bank or 
broker-dealer to provide the authorizing fiduciary with a copy of its 
written policies and procedures for foreign exchange transactions 
involving income item conversions and de minimis purchase and sale 
transactions prior to the execution of a transaction. The fourth 
requires the bank or broker-dealer to furnish the authorizing fiduciary 
with a written confirmation statement with respect to each covered 
transaction within five days after execution. The fifth requires that 
the bank or broker-dealer to maintain records necessary for plan 
fiduciaries, participants, the Department, and the Internal Revenue 
Service, to determine whether the conditions of the exemption are being 
met for a period of six years form the date of execution of a 
transaction.
    By requiring that records pertaining to the exempted transaction be 
maintained for six years, this ICR ensures that the exemption is not 
abused, the rights of the participants and beneficiaries are protected, 
and that compliance with the exemption's conditions can be confirmed. 
The exemption affects participants and beneficiaries of the plans that 
are involved in such transactions, as well as, certain banks, broker-
dealers, and domestic affiliates thereof. The ICR was approved by OMB 
under OMB Control Number 1210-0111 and is scheduled to expire on 
September 30, 2017.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Request for Assistance from Department of Labor, EBSA.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0146.
    Affected Public: Individuals or Households.
    Respondents: 6,500
    Responses: 6,500.
    Estimated Total Burden Hours: 3,250.
    Estimated Total Burden Cost (Operating and Maintenance): $0.
    Description: The Department of Labor's Employee Benefits Security 
Administration (EBSA) maintains a program designed to provide education 
and technical assistance to participants and beneficiaries as well as 
to employers, plan sponsors, and service providers related to their 
health and retirement benefit plans. EBSA assists participants in 
understanding their rights, responsibilities, and benefits under 
employee benefit law and intervenes informally on their behalf with the 
plan sponsor in order to assist them in obtaining the health and 
retirement benefits to which they may have been inappropriately denied, 
which can avert the necessity for a formal investigation or a civil 
action. EBSA maintains a toll-free telephone number through which 
inquirers can reach Benefits Advisors in ten Regional Offices.
    EBSA also makes a request for assistance form available on its Web 
site for those wishing to contact EBSA online. Contact with EBSA is 
entirely voluntary. The Web form includes basic identifying information 
which is necessary for EBSA to contact the inquirer--first name, last 
name, street address, city, zip code, and telephone number--as well as 
information to improve customer service and enhance its capacity to 
handle greater inquiry volume, such as the plan type, broad categories 
of problem type, contact information for responsible parties, and a 
mechanism for the inquirer to attach relevant documents.
    This information is used by EBSA to make informed and efficient 
decisions when contacting inquirers who have requested EBSA's informal 
assistance with understanding their rights and obtaining benefits they 
may have been denied inappropriately. EBSA uses the information to 
evaluate its service to inquirers, support the development of a broader 
understanding of the nature of current issues in employee benefit 
plans, and to respond to requests for information regarding employee 
benefit plans from members of Congress and governmental oversight 
entities in accordance with ERISA section 513. The ICR was approved by 
the Office of Management and Budget (OMB) under OMB Control Number 
1210-0146 and is scheduled to expire on October 31, 2017.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Alternative Method of Compliance for Certain Simplified 
Employee Pensions.
    Type of Review: Extension of a currently approved information 
collection.
    OMB Number: 1210-0034.
    Affected Public: Businesses or other for-profits.
    Respondents: 36,000.
    Responses: 68,000.
    Estimated Total Burden Hours: 21,000.
    Estimated Total Burden Cost (Operating and Maintenance): $25,000.
    Description: Section 110 of ERISA authorizes the Secretary to 
prescribe alternative methods of compliance with the reporting and 
disclosure requirements of Title I of ERISA for pension plans. 
Simplified employee pensions (SEPs) are established in section 408(k) 
of the (Code. Although SEPs are primarily a development of the Code and 
subject to its requirements, SEPs are also pension plans subject to the 
reporting and disclosure requirements of Title I of ERISA.
    The Department previously issued a regulation under the authority 
of section 110 of ERISA (29 CFR 2520.104-49) that intended to relieve 
sponsors of certain SEPs from ERISA's Title I reporting and disclosure 
requirements by prescribing

[[Page 23306]]

an alternative method of compliance. These SEPs are, for purposes of 
this Notice, referred to as ``non-model'' SEPs because they exclude (1) 
those SEPs which are created through use of Internal Revenue Service 
(IRS) Form 5305-SEP, and (2) those SEPs in which the employer limits or 
influences the employees' choice to IRAs into which employers' 
contributions will be made and on which participant withdrawals are 
prohibited. The disclosure requirements in this regulation were 
developed in conjunction with the Internal Revenue Service (IRS Notice 
81-1). Accordingly, sponsors of ``nonmodel'' SEPs that satisfy the 
limited disclosure requirements of the regulation are relieved from 
otherwise applicable reporting and disclosure requirements under Title 
I of ERISA, including the requirements to file annual reports (Form 
5500 Series) with the Department, and to furnish summary plan 
descriptions and summary annual reports to participants and 
beneficiaries.
    This ICR includes four separate disclosure requirements. First, at 
the time an employee becomes eligible to participate in the SEP, the 
administrator of the SEP must furnish the employee in writing specific 
and general information concerning the SEP; a statement on rates, 
transfers and withdrawals; and a statement on tax treatment. Second, 
the administrator of the SEP must furnish participants with information 
concerning any amendments. Third, the administrator must notify 
participants of any employer contributions made to the IRA. Fourth, in 
the case of a SEP that provides integration with Social Security, the 
administrator shall provide participants with statement on Social 
Security taxes and the integration formula used by the employer. The 
ICR was approved by OMB under OMB Control Number 1210-0034 and is 
scheduled to expire on December 31, 2017.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Procedure for Application for Exemption from the Prohibited 
Transaction Provisions of Section 408(a) of the Employee Retirement 
Income Security Act of 1974 (ERISA).
    Type of Review: Extension of a currently approved information 
collection.
    OMB Number: 1210-0060.
    Affected Public: Businesses or other for-profits.
    Respondents: 43.
    Responses: 20,500.
    Estimated Total Burden Hours: 2,200.
    Estimated Total Burden Cost (Operating and Maintenance): 
$1,200,000.
    Description: Both ERISA and the Code contain various statutory 
exemptions from the prohibited transaction rules. In addition, section 
408(a) of ERISA authorizes the Secretary of Labor to grant 
administrative exemptions from the restrictions of ERISA sections 406 
and 407(a), while section 4975(c)(2) of the Code authorizes the 
Secretary of the Treasury or his delegate to grant exemptions from the 
prohibitions of Code section 4975(c)(1). Sections 408(a) of ERISA and 
4975(c)(2) of the Code also direct the Secretary of Labor and the 
Secretary of the Treasury, respectively, to establish procedures to 
carry out the purposes of these sections.
    Under section 3003(b) of ERISA, the Secretary of Labor and the 
Secretary of the Treasury are directed to consult and coordinate with 
each other with respect to the establishment of rules applicable to the 
granting of exemptions from the prohibited transaction restrictions of 
ERISA and the Code. Under section 3004 of ERISA, moreover, the 
Secretary of Labor and the Secretary of the Treasury are authorized to 
develop jointly rules appropriate for the efficient administration of 
ERISA.
    Under section 102 of Reorganization Plan No. 4 of 1978 
(Reorganization Plan No. 4), the foregoing authority of the Secretary 
of the Treasury to issue exemptions under section 4975 of the Code was 
transferred, with certain enumerated exceptions not discussed herein, 
to the Secretary of Labor. Accordingly, the Secretary of Labor now 
possesses the authority under section 4975(c)(2) of the Code, as well 
as under section 408(a) of ERISA, to issue individual and class 
exemptions from the prohibited transaction rules of ERISA and the Code.
    On April 28, 1975, the Department published ERISA Procedure 75-1 in 
the Federal Register (40 FR 18471). This procedure provided necessary 
information to the affected public regarding the procedure to follow 
when requesting an exemption. On October 27, 2011, the Department 
issued its current exemption procedure regulation, which superseded 
ERISA Procedure 75-1 (and intervening amendments).
    The amended rule by the Department expands the ICR contained in 
sections 2570.34 and 2570.35 of the current exemption procedure 
regulation in several respects. For instance, the current requirement 
of specialized statements from qualified independent appraisers, where 
applicable, includes the appraiser's rationale, credentials, and a 
statement regarding the appraiser's independence from the parties 
involved in the transaction. In this connection, the appraisal report 
prepared by the independent appraiser must be current and not more than 
one year old as of the date of the transaction. In addition, the 
content of specialized statements submitted by qualified independent 
fiduciaries, where applicable, require the disclosure of information 
concerning the independent fiduciary's qualifications, duties, 
independence from the parties involved in the transaction, and current 
compensation. The content of specialized statements from other kinds of 
experts would also be clarified in the new regulation to require 
disclosure of information concerning the expert's qualifications and 
their independence from the parties involved in the transaction.
    In addition, a requirement contained in section 2570.43(d) and (e) 
provides the Department with the discretion to require an applicant to 
furnish interested persons with a Summary of Proposed Exemption (SPE). 
Finally, the Department amended Sec.  2570.43 to permit applicants to 
utilize electronic means (such as email) to deliver notice to 
interested persons of a pending exemption, provided that the applicant 
can demonstrate satisfactory proof of electronic delivery to the entire 
class of interested persons. The ICR was approved by OMB under OMB 
Control Number 1210-0060 and is scheduled to expire on December 31, 
2017.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Investment Advice Participants and Beneficiaries.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0134.
    Affected Public: Businesses or other for-profits.
    Respondents: 10,000.
    Responses: 20,544,000.
    Estimated Total Burden Hours: 1,981,000.
    Estimated Total Burden Cost (Operating and Maintenance): 
$276,474,000.
    Description: The Department's regulation implements the provisions 
of the statutory exemption set forth in sections 408(b)(14) and 408(g) 
of ERISA, and parallel provisions in sections 4975(d)(17) and 
4975(f)(8) of the Code, relating to the provision of investment advice 
described in section 3(21)(A)(ii) of ERISA by a fiduciary adviser to 
participants and beneficiaries in participant-directed individual 
account plans, such as 401(k) plans, and

[[Page 23307]]

beneficiaries of individual retirement accounts (and certain similar 
plans).
    Section 408(b)(14) sets forth the investment advice-related 
transactions that will be exempt from the prohibitions of ERISA section 
406 if the requirements of section 408(g) are met. The transactions 
described in section 408(b)(14) are: The provision of investment advice 
to the participant or beneficiary with respect to a security or other 
property available as an investment under the plan; the acquisition, 
holding or sale of a security or other property available as an 
investment under the plan pursuant to the investment advice; and the 
direct or indirect receipt of compensation by a fiduciary adviser or 
affiliate in connection with the provision of investment advice or the 
acquisition, holding or sale of a security or other property available 
as an investment under the plan pursuant to the investment advice. The 
requirements in section 408(g) are met only if advice is provided by a 
fiduciary adviser under an ``eligible investment advice arrangement.'' 
Section 408(g) provides for two general types of eligible arrangements: 
One based on compliance with a ``fee-leveling'' requirement (imposing 
limitation on fees and compensation of the fiduciary adviser); the 
other, based on compliance with a ``computer model'' requirement 
(requiring use of a certified computer model).
    The regulation contains the following collections of information: 
(1) A fiduciary adviser must furnish an initial disclosure that 
provides detailed information to participants about an advice 
arrangement before initially providing investment advice; (2) a 
fiduciary adviser must engage, at least annually, an independent 
auditor to conduct an audit of the investment advice arrangement for 
compliance with the regulation; (3) if the fiduciary adviser provides 
the investment advice through the use of a computer model, then before 
providing the advice, the fiduciary adviser must obtain the written 
certification of an eligible investment expert as to the computer 
model's compliance with certain standards (e.g., applies generally 
accepted investment theories, unbiased operation, objective criteria) 
set forth in the regulation; and (4) fiduciary advisers must maintain 
records with respect to the investment advice provided in reliance on 
the regulation necessary to determine whether the applicable 
requirements of the regulation have been satisfied.
    The ICR was approved by OMB under OMB Control Number 1210-0134 and 
is scheduled to expire on December 31, 2017.

    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Alternative Reporting Methods for Apprenticeship and 
Training Plans and Top Hat Plans.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0153.
    Affected Public: Businesses or other for-profits, Not-for-profit 
institutions.
    Respondents: 2,120.
    Responses: 2,120.
    Estimated Total Burden Hours: 636.
    Estimated Total Burden Cost (Operating and Maintenance): $0.
    Description: The Department's regulations (29 CFR 2520.104-22) 
provide an exemption to the reporting and disclosure provisions of Part 
1 of Title I of ERISA for employee welfare benefit plans that provide 
only apprenticeship or training benefits, or both, if the plan 
administrator: (1) Files a notice with the Secretary that provides the 
name of the plan, the plan sponsor's Employer Identification Number 
(EIN), the plan administrator's name, and the name and location of an 
office or person from whom interested individuals can obtain certain 
information about courses offered by the plan; (2) takes steps 
reasonably designed to ensure that the information required to be 
contained in the notice is disclosed to employees of employers 
contributing to the plan who may be eligible to enroll in any course of 
study sponsored or established by the plan; and (3) makes the notice 
available to these employees upon request. The plan administrator must 
file the notice with the Secretary of Labor by mailing or delivering it 
to the Department at the address set forth in the regulation.
    The regulation (29 CFR 2520.104-23) provides an alternative method 
of compliance with the reporting and disclosure provisions of Title I 
of ERISA for unfunded or insured plans established for a select group 
of management or highly compensated employees (i.e., top hat plans). In 
order to satisfy the alternative method of compliance, the plan 
administrator must: (1) File a statement with the Secretary of Labor 
that includes the name and address of the employer, the employer EIN, a 
declaration that the employer maintains a plan or plans primarily for 
the purpose of providing deferred compensation for a select group of 
management or highly compensated employees, and a statement of the 
number of such plans and the employees covered by each; and (2) make 
plan documents available to the Secretary upon request. Only one 
statement needs to be filed for each employer maintaining one or more 
of the plans. The statements may be filed with the Secretary by mail or 
personal delivery. The ICR was approved by OMB under OMB Control Number 
1210-0153 and is scheduled to expire on December 31, 2017.

Focus of Comments

    The Department is particularly interested in comments that:
     Evaluate whether the collections of information are 
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 
collections 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., by 
permitting electronic submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICRs for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
[FR Doc. 2017-10394 Filed 5-19-17; 8:45 am]
 BILLING CODE 4510-29-P
Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices 23303

requirements (new line bolded for above. Comments submitted in response Federal agencies with an opportunity to
reference only): to this notice will become a matter of comment on proposed and continuing
‘‘The U.S. Census Bureau is required by public record. BJS received one collections of information. This helps
law to protect your information. The Census comment during the 60-day notice the Department assess the impact of its
Bureau is not permitted to publicly release period. The commenter questioned why information collection requirements and
your responses in a way that could identify BJS chose not to specifically reference minimize the public’s reporting burden.
you. Per the Federal Cybersecurity who (cybersecurity personnel, or DHS It also helps the public understand the
Enhancement Act of 2015, your data are personnel) would conduct the Department’s information collection
protected from cybersecurity risks through cybersecurity screening activities requirements and provide the requested
screening of the systems that transmit your authorized by the Cybersecurity Act of data in the desired format. The
data.’’ 2015. BJS responded with information Employee Benefits Security
The following listing includes the BJS about the process it followed to revise Administration (EBSA) is soliciting
information collections that are the confidentiality pledge, including comments on the proposed extension of
administered by the Census Bureau using the results of pretesting that other the information collection requests
whose confidentiality pledge will be statistical agencies conducted on (ICRs) contained in the documents
revised. different versions of revised language described below. A copy of the ICRs
and coordinating with OJP’s Office of may be obtained by contacting the office
OMB control Information collection title General Counsel to ensure that the new listed in the ADDRESSES section of this
No. pledge language fulfills BJS’s statutory notice. ICRs also are available at
obligation to inform respondents that reginfo.gov (http://www.reginfo.gov/
1121–0111 ..... NCVS.
1121–0184 ..... School Crime Supplement to their data may be accessed by others for public/do/PRAMain).
the NCVS. non-statistical purposes. BJS also DATES: Written comments must be
1121–0317 ..... Identity Theft Supplement to directed the commenter to the submitted to the office shown in the
the NCVS. information added to the BJS Data Addresses section on or before July 21,
1121–0260 ..... Police Public Contact Sup- Protection guidelines (Section V. 2017.
plement to the NCVS. Information System Security and
1121–0302 ..... Supplemental Victimization ADDRESSES: G. Christopher Cosby,
Privacy Requirements) that provides Department of Labor, Employee Benefits
Survey to the NCVS. more details about the Act and the Security Administration, 200
associated monitoring activities. BJS is Constitution Avenue NW., Room
Affected Public: Survey respondents not proposing edits to its confidentiality
to applicable BJS information N–5718, Washington, DC 20210,
pledge, though it will consider ebsa.opr@dol.gov, (202) 693–8410, FAX
collections. conducting pretesting activities on its
Total Respondents: Unchanged from (202) 693–4745 (these are not toll-free
various respondent populations and numbers).
current collection. developing more detailed guidance for
Frequency: Unchanged from current staff and contractors on how to answer SUPPLEMENTARY INFORMATION: This
collection. respondents’ questions about the Act. notice requests public comment on the
Total Responses: Unchanged from If additional information is required Department’s request for extension of
current collection. contact: Melody Braswell, Department the Office of Management and Budget’s
Average Time per Response: Clearance Officer, United States (OMB) approval of ICRs contained in
Unchanged from current collection. Department of Justice, Justice the rules and prohibited transaction
Estimated Total Burden Hours: Management Division, Policy and exemptions described below. The
Unchanged from current collection. Planning Staff, Two Constitution Department is not proposing any
Estimated Total Cost: Unchanged Square, 145 N Street NE., 3E.405A, changes to the existing ICRs at this time.
from current collection. Washington, DC 20530. An agency may not conduct or sponsor,
The 60-day FRN submitted by the and a person is not required to respond
Census Bureau can be accessed at Dated: May 17, 2017.
to, an information collection unless it
https://www.federalregister.gov/ Melody Braswell,
displays a valid OMB control number. A
documents/2016/12/23/2016-30959/ Department Clearance Officer for PRA, U.S. summary of the ICRs and the current
agency-information-collection-activities- Department of Justice.
burden estimates follows:
request-for-comments-revision-of-the- [FR Doc. 2017–10345 Filed 5–19–17; 8:45 am]
Agency: Employee Benefits Security
confidentiality-pledge. The Census BILLING CODE 4410–18–P
Administration, Department of Labor.
Bureau is currently reviewing and Title: Prohibited Transaction
preparing responses to the comments it Exemption (PTE) 81–8 for Investment of
received and will publish a 30-day FRN DEPARTMENT OF LABOR Plan Assets in Certain Types of Short-
to solicit additional public comment. Term Investments.
Comments on the Census Bureau’s Employee Benefits Security
Type of Review: Extension of a
revised confidentiality pledge should be Administration
currently approved collection of
submitted directly to the point-of- information.
Proposed Extension of Information
contact listed in the notice. OMB Number: 1210–0061.
Collection Requests Submitted for
III. Data Public Comment Affected Public: Businesses or other
for-profits, Not-for-profit institutions.
OMB Control Number: 1121–0358.
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AGENCY: Employee Benefits Security Respondents: 65,000.
Legal Authority: 44 U.S.C. 3506(e) and Administration, Department of Labor. Responses: 325,000.
42 U.S.C. 3789g. ACTION: Notice. Estimated Total Burden Hours:
Form Number(s): None. 81,000.
SUMMARY: The Department of Labor (the Estimated Total Burden Cost
IV. Request for Comments Department), in accordance with the (Operating and Maintenance): $99,000.
Comments are invited on the efficacy Paperwork Reduction Act of 1995 Description: PTE 81–8 permits the
of BJS’s revised confidentiality pledge (PRA), provides the general public and investment of plan assets that involve

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Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices 23305

lieu of filing any past due annual bank or broker-dealer to maintain necessary for EBSA to contact the
reports and paying otherwise applicable records necessary for plan fiduciaries, inquirer—first name, last name, street
civil penalties, complete and file participants, the Department, and the address, city, zip code, and telephone
specific portions of a Form 5500, file the Internal Revenue Service, to determine number—as well as information to
identifying statements that were whether the conditions of the improve customer service and enhance
required to be filed, and pay a one-time exemption are being met for a period of its capacity to handle greater inquiry
penalty. The ICR was approved by OMB six years form the date of execution of volume, such as the plan type, broad
under OMB Control Number 1210–0089 a transaction. categories of problem type, contact
and is scheduled to expire on By requiring that records pertaining to information for responsible parties, and
September 30, 2017. the exempted transaction be maintained a mechanism for the inquirer to attach
Agency: Employee Benefits Security for six years, this ICR ensures that the relevant documents.
Administration, Department of Labor. exemption is not abused, the rights of This information is used by EBSA to
Title: PTE 98–54—Relating to Certain the participants and beneficiaries are make informed and efficient decisions
Employee Benefit Plan Foreign protected, and that compliance with the when contacting inquirers who have
Exchange Transactions Executed exemption’s conditions can be requested EBSA’s informal assistance
Pursuant to Standing Instructions. confirmed. The exemption affects with understanding their rights and
Type of Review: Extension of a participants and beneficiaries of the obtaining benefits they may have been
currently approved collection of plans that are involved in such denied inappropriately. EBSA uses the
information. transactions, as well as, certain banks, information to evaluate its service to
OMB Number: 1210–0111. broker-dealers, and domestic affiliates inquirers, support the development of a
Affected Public: Businesses or other thereof. The ICR was approved by OMB broader understanding of the nature of
for-profits. under OMB Control Number 1210–0111 current issues in employee benefit
Respondents: 35. and is scheduled to expire on plans, and to respond to requests for
Responses: 420,000.
Estimated Total Burden Hours: 4,200. September 30, 2017. information regarding employee benefit
Estimated Total Burden Cost Agency: Employee Benefits Security plans from members of Congress and
(Operating and Maintenance): $0. Administration, Department of Labor. governmental oversight entities in
Description: PTE 98–54 permits Title: Request for Assistance from accordance with ERISA section 513. The
certain foreign exchange transactions Department of Labor, EBSA. ICR was approved by the Office of
between employee benefit plans and Type of Review: Extension of a Management and Budget (OMB) under
certain banks, broker-dealers, and currently approved collection of OMB Control Number 1210–0146 and is
domestic affiliates thereof, which are information. scheduled to expire on October 31,
parties in interest with respect to such OMB Number: 1210–0146. 2017.
plans, pursuant to standing instructions. Affected Public: Individuals or Agency: Employee Benefits Security
In the absence of an exemption, foreign Households. Administration, Department of Labor.
exchange transactions pursuant to Respondents: 6,500 Title: Alternative Method of
standing instructions would be Responses: 6,500. Compliance for Certain Simplified
prohibited under circumstances where Estimated Total Burden Hours: 3,250. Employee Pensions.
the bank or broker-dealer is a party in Estimated Total Burden Cost Type of Review: Extension of a
interest or disqualified person with (Operating and Maintenance): $0. currently approved information
respect to the plan under ERISA or the Description: The Department of collection.
Internal Revenue Code (Code). Labor’s Employee Benefits Security OMB Number: 1210–0034.
The class exemption has five basic Administration (EBSA) maintains a Affected Public: Businesses or other
information collection requirements. program designed to provide education for-profits.
The first requires the bank or broker- and technical assistance to participants Respondents: 36,000.
dealer to maintain written policies and and beneficiaries as well as to Responses: 68,000.
procedures for handling foreign employers, plan sponsors, and service Estimated Total Burden Hours:
exchange transactions for plans for providers related to their health and 21,000.
which it is a party in interest that ensure retirement benefit plans. EBSA assists Estimated Total Burden Cost
that the party acting for the bank or participants in understanding their (Operating and Maintenance): $25,000.
broker-dealer knows it is dealing with a rights, responsibilities, and benefits Description: Section 110 of ERISA
plan. The second requires that the under employee benefit law and authorizes the Secretary to prescribe
transactions are performed in intervenes informally on their behalf alternative methods of compliance with
accordance with a written authorization with the plan sponsor in order to assist the reporting and disclosure
executed in advance by an independent them in obtaining the health and requirements of Title I of ERISA for
fiduciary of the plan. The third requires retirement benefits to which they may pension plans. Simplified employee
that the bank or broker-dealer to provide have been inappropriately denied, pensions (SEPs) are established in
the authorizing fiduciary with a copy of which can avert the necessity for a section 408(k) of the (Code. Although
its written policies and procedures for formal investigation or a civil action. SEPs are primarily a development of the
foreign exchange transactions involving EBSA maintains a toll-free telephone Code and subject to its requirements,
income item conversions and de number through which inquirers can SEPs are also pension plans subject to
minimis purchase and sale transactions reach Benefits Advisors in ten Regional the reporting and disclosure
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prior to the execution of a transaction. Offices. requirements of Title I of ERISA.
The fourth requires the bank or broker- EBSA also makes a request for The Department previously issued a
dealer to furnish the authorizing assistance form available on its Web site regulation under the authority of section
fiduciary with a written confirmation for those wishing to contact EBSA 110 of ERISA (29 CFR 2520.104–49) that
statement with respect to each covered online. Contact with EBSA is entirely intended to relieve sponsors of certain
transaction within five days after voluntary. The Web form includes basic SEPs from ERISA’s Title I reporting and
execution. The fifth requires that the identifying information which is disclosure requirements by prescribing

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Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices 23307

beneficiaries of individual retirement scheduled to expire on December 31, the Secretary upon request. Only one
accounts (and certain similar plans). 2017. statement needs to be filed for each
Section 408(b)(14) sets forth the employer maintaining one or more of
Agency: Employee Benefits Security
investment advice-related transactions the plans. The statements may be filed
Administration, Department of Labor.
that will be exempt from the with the Secretary by mail or personal
Title: Alternative Reporting Methods
prohibitions of ERISA section 406 if the delivery. The ICR was approved by
for Apprenticeship and Training Plans
requirements of section 408(g) are met. OMB under OMB Control Number
and Top Hat Plans.
The transactions described in section 1210–0153 and is scheduled to expire
Type of Review: Extension of a
408(b)(14) are: The provision of on December 31, 2017.
currently approved collection of
investment advice to the participant or
information. Focus of Comments
beneficiary with respect to a security or
OMB Number: 1210–0153.
other property available as an The Department is particularly
Affected Public: Businesses or other
investment under the plan; the interested in comments that:
for-profits, Not-for-profit institutions.
acquisition, holding or sale of a security • Evaluate whether the collections of
Respondents: 2,120.
or other property available as an information are necessary for the proper
Responses: 2,120.
investment under the plan pursuant to performance of the functions of the
Estimated Total Burden Hours: 636.
the investment advice; and the direct or Estimated Total Burden Cost agency, including whether the
indirect receipt of compensation by a information will have practical utility;
(Operating and Maintenance): $0.
fiduciary adviser or affiliate in • Evaluate the accuracy of the
Description: The Department’s
connection with the provision of agency’s estimate of the collections of
regulations (29 CFR 2520.104–22)
investment advice or the acquisition, information, including the validity of
provide an exemption to the reporting
holding or sale of a security or other the methodology and assumptions used;
and disclosure provisions of Part 1 of
property available as an investment • Enhance the quality, utility, and
Title I of ERISA for employee welfare
under the plan pursuant to the clarity of the information to be
benefit plans that provide only
investment advice. The requirements in collected; and
apprenticeship or training benefits, or • Minimize the burden of the
section 408(g) are met only if advice is
both, if the plan administrator: (1) Files collection of information on those who
provided by a fiduciary adviser under
a notice with the Secretary that provides are to respond, including through the
an ‘‘eligible investment advice
arrangement.’’ Section 408(g) provides the name of the plan, the plan sponsor’s use of appropriate automated,
for two general types of eligible Employer Identification Number (EIN), electronic, mechanical, or other
arrangements: One based on compliance the plan administrator’s name, and the technological collection techniques or
with a ‘‘fee-leveling’’ requirement name and location of an office or person other forms of information technology,
(imposing limitation on fees and from whom interested individuals can e.g., by permitting electronic
compensation of the fiduciary adviser); obtain certain information about courses submissions of responses.
the other, based on compliance with a offered by the plan; (2) takes steps Comments submitted in response to
‘‘computer model’’ requirement reasonably designed to ensure that the this notice will be summarized and/or
(requiring use of a certified computer information required to be contained in included in the ICRs for OMB approval
model). the notice is disclosed to employees of of the extension of the information
The regulation contains the following employers contributing to the plan who collection; they will also become a
collections of information: (1) A may be eligible to enroll in any course matter of public record.
fiduciary adviser must furnish an initial of study sponsored or established by the
disclosure that provides detailed plan; and (3) makes the notice available Joseph S. Piacentini,
information to participants about an to these employees upon request. The Director, Office of Policy and Research,
advice arrangement before initially plan administrator must file the notice Employee Benefits Security Administration.
providing investment advice; (2) a with the Secretary of Labor by mailing [FR Doc. 2017–10394 Filed 5–19–17; 8:45 am]
fiduciary adviser must engage, at least or delivering it to the Department at the BILLING CODE 4510–29–P
annually, an independent auditor to address set forth in the regulation.
conduct an audit of the investment The regulation (29 CFR 2520.104–23)
advice arrangement for compliance with provides an alternative method of DEPARTMENT OF LABOR
the regulation; (3) if the fiduciary compliance with the reporting and
disclosure provisions of Title I of ERISA Bureau of Labor Statistics
adviser provides the investment advice
through the use of a computer model, for unfunded or insured plans
Technical Advisory Committee; Notice
then before providing the advice, the established for a select group of
of Meeting and Agenda
fiduciary adviser must obtain the management or highly compensated
written certification of an eligible employees (i.e., top hat plans). In order The Bureau of Labor Statistics
investment expert as to the computer to satisfy the alternative method of Technical Advisory Committee will
model’s compliance with certain compliance, the plan administrator meet on Friday, June 16, 2017. The
standards (e.g., applies generally must: (1) File a statement with the meeting will be held from 8:30 a.m. to
accepted investment theories, unbiased Secretary of Labor that includes the 4:00 p.m. in the Postal Square Building,
operation, objective criteria) set forth in name and address of the employer, the 2 Massachusetts Avenue, NE.,
the regulation; and (4) fiduciary advisers employer EIN, a declaration that the Washington, DC.
must maintain records with respect to employer maintains a plan or plans The Committee provides advice and
mstockstill on DSK30JT082PROD with NOTICES

the investment advice provided in primarily for the purpose of providing makes recommendations to the Bureau
reliance on the regulation necessary to deferred compensation for a select of Labor Statistics (BLS) on technical
determine whether the applicable group of management or highly aspects of the collection and
requirements of the regulation have compensated employees, and a formulation of economic measures. The
been satisfied. statement of the number of such plans BLS presents issues and then draws on
The ICR was approved by OMB under and the employees covered by each; and the expertise of Committee members
OMB Control Number 1210–0134 and is (2) make plan documents available to representing specialized fields within

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Document Created: 2018-11-08 08:50:17
Document Modified: 2018-11-08 08:50:17
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		Written comments must be submitted to the office shown in the
FR Citation		82 FR 23303
82 FR 23303 - Proposed Extension of Information Collection Requests Submitted for Public Comment

DEPARTMENT OF LABOREmployee Benefits Security Administration

Federal Register Volume 82, Issue 97 (May 22, 2017)

DEPARTMENT OF LABOR
Employee Benefits Security Administration
