82 FR 41428 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Employee Retirement Income Security Act Prohibited Transaction Class Exemption 1981-8, Investment of Plan Assets in Certain Types of Short-Term Investments
DEPARTMENT OF LABOR
Office of the Secretary Federal Register Volume 82, Issue 168 (August 31, 2017)
Office of the Secretary
Federal Register Volume 82, Issue 168 (August 31, 2017)
| Page Range | 41428-41429 | |
| FR Document | 2017-18476 |
[Federal Register Volume 82, Number 168 (Thursday, August 31, 2017)] [Notices] [Pages 41428-41429] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-18476] ----------------------------------------------------------------------- DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Employee Retirement Income Security Act Prohibited Transaction Class Exemption 1981-8, Investment of Plan Assets in Certain Types of Short-Term Investments ACTION: Notice of availability; request for comments. ----------------------------------------------------------------------- SUMMARY: The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ``Employee Retirement Income Security Act Prohibited Transaction Class Exemption 1981-8, Investment of Plan Assets in Certain Types of Short-Term Investments,'' 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. Public comments on the ICR are invited. DATES: The OMB will consider all written comments that agency receives on or before October 2, 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=201706-1210-003 (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 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]. SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for the information collection requirements contained in Employee Retirement Income Security Act (ERISA) Prohibited Transaction Class Exemption (PTE) 1981-8, Investment of Plan Assets in Certain Types of Short-Term Investments, which permits the investment of ERISA covered plan assets that involve the purchase or other acquisition, holding, sale, exchange, or redemption by or on behalf of an employee benefit plan of certain types of short-term investments. The PTE requires 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 repurchase agreements have a duration of one year or less and may be in the form of a blanket agreement that covers the transactions for the year. The written agreement is intended to put the plan on notice of possible fees associated with the redemption of open- end mutual fund shares. The second requirement obliges the seller of such repurchase agreements to provide the most recent financial statements to the plan at the time of the sale and as the statements are issued. The seller must also represent, either in the repurchase agreement or prior to each repurchase agreement transaction, that, as of the time the transaction is negotiated, there has been no material adverse change in the seller's financial condition since the date the most recent financial statement was furnished that has not been disclosed to the plan fiduciary with whom the written agreement is made. Internal Revenue Code of 1986 section 4975(c) and ERISA section 408 authorize the information collection activities. See 26 U.S.C. 4975(c) and 29 U.S.C. 1108. 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 1210-0061. 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, 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 [[Page 41429]] 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 22, 2017 (82 FR 23303). 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 1210-0061. 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: Employee Retirement Income Security Act Prohibited Transaction Class Exemption 1981-8, Investment of Plan Assets in Certain Types of Short-Term Investments. OMB Control Number: 1210-0061. Affected Public: Private Sector--businesses or other for-profits and not-for-profit institutions. Total Estimated Number of Respondents: 82,664. Total Estimated Number of Responses: 413,320. Total Estimated Annual Time Burden: 103,330 hours. Total Estimated Annual Other Costs Burden: $93,770. Authority: 44 U.S.C. 3507(a)(1)(D). Dated: August 27, 2017. Michel Smyth, Departmental Clearance Officer. [FR Doc. 2017-18476 Filed 8-30-17; 8:45 am] BILLING CODE 4510-29-P
![41428 Federal Register / Vol. 82, No. 168 / Thursday, August 31, 2017 / Notices
Information and Regulatory Affairs at SUMMARY: The Department of Labor assets that involve the purchase or other
the address shown in the ADDRESSES (DOL) is submitting the Employee acquisition, holding, sale, exchange, or
section within thirty (30) days of Benefits Security Administration redemption by or on behalf of an
publication of this notice in the Federal (EBSA) sponsored information employee benefit plan of certain types
Register. In order to help ensure collection request (ICR) titled, of short-term investments. The PTE
appropriate consideration, comments ‘‘Employee Retirement Income Security requires two basic disclosure
should mention OMB Control Number Act Prohibited Transaction Class requirements. Both affect only the
1205–0187. The OMB is particularly Exemption 1981–8, Investment of Plan portion of the exemption dealing with
interested in comments that: Assets in Certain Types of Short-Term repurchase agreements. The first
• Evaluate whether the proposed Investments,’’ to the Office of requirement calls for the repurchase
collection of information is necessary Management and Budget (OMB) for agreements between the seller and the
for the proper performance of the review and approval for continued use, plan to be in writing. The repurchase
functions of the agency, including without change, in accordance with the agreements have a duration of one year
whether the information will have Paperwork Reduction Act of 1995. or less and may be in the form of a
practical utility; Public comments on the ICR are invited. blanket agreement that covers the
• Evaluate the accuracy of the DATES: The OMB will consider all transactions for the year. The written
agency’s estimate of the burden of the written comments that agency receives agreement is intended to put the plan on
proposed collection of information, on or before October 2, 2017. notice of possible fees associated with
including the validity of the ADDRESSES: A copy of this ICR with the redemption of open-end mutual
methodology and assumptions used; applicable supporting documentation; fund shares. The second requirement
• Enhance the quality, utility, and obliges the seller of such repurchase
including a description of the likely
clarity of the information to be agreements to provide the most recent
respondents, proposed frequency of
collected; and financial statements to the plan at the
• Minimize the burden of the response, and estimated total burden
may be obtained free of charge from the time of the sale and as the statements
collection of information on those who are issued. The seller must also
are to respond, including through the RegInfo.gov Web site at http://
www.reginfo.gov/public/do/ represent, either in the repurchase
use of appropriate automated, agreement or prior to each repurchase
electronic, mechanical, or other PRAViewICR?ref_nbr=201706-1210-003
(this link will only become active on the agreement transaction, that, as of the
technological collection techniques or time the transaction is negotiated, there
other forms of information technology, day following publication of this notice)
or by contacting Michel Smyth by has been no material adverse change in
e.g., permitting electronic submission of the seller’s financial condition since the
responses. telephone at 202–693–4129, TTY 202–
693–8064, (these are not toll-free date the most recent financial statement
Agency: DOL–ETA. was furnished that has not been
Title of Collection: Overpayment numbers) or by email at DOL_PRA_
PUBLIC@dol.gov. disclosed to the plan fiduciary with
Detection and Recovery Activities. whom the written agreement is made.
OMB Control Number: 1205–0187. Submit comments about this request
Affected Public: State, Local, and by mail to the Office of Information and Internal Revenue Code of 1986 section
Tribal Governments. Regulatory Affairs, Attn: OMB Desk 4975(c) and ERISA section 408
Total Estimated Number of Officer for DOL–EBSA, Office of authorize the information collection
Respondents: 53. Management and Budget, Room 10235, activities. See 26 U.S.C. 4975(c) and 29
Total Estimated Number of 725 17th Street NW., Washington, DC U.S.C. 1108.
Responses: 212. 20503; by Fax: 202–395–5806 (this is This information collection is subject
Total Estimated Annual Time Burden: not a toll-free number); or by email: to the PRA. A Federal agency generally
2,968 hours. OIRA_submission@omb.eop.gov. cannot conduct or sponsor a collection
Total Estimated Annual Other Costs of information, and the public is
Commenters are encouraged, but not
Burden: $0. generally not required to respond to an
required, to send a courtesy copy of any
information collection, unless it is
Authority: 44 U.S.C. 3507(a)(1)(D). comments by mail or courier to the U.S.
approved by the OMB under the PRA
Dated: August 25, 2017. Department of Labor–OASAM, Office of
and displays a currently valid OMB
Michel Smyth, the Chief Information Officer, Attn:
Control Number. In addition,
Departmental Information Compliance
Departmental Clearance Officer. notwithstanding any other provisions of
Management Program, Room N1301,
[FR Doc. 2017–18475 Filed 8–30–17; 8:45 am] law, no person shall generally be subject
200 Constitution Avenue NW.,
BILLING CODE 4510–FW–P to penalty for failing to comply with a
Washington, DC 20210; or by email:
collection of information that does not
DOL_PRA_PUBLIC@dol.gov. display a valid Control Number. See 5
DEPARTMENT OF LABOR FOR FURTHER INFORMATION CONTACT: CFR 1320.5(a) and 1320.6. The DOL
Michel Smyth by telephone at 202–693– obtains OMB approval for this
Office of the Secretary 4129, TTY 202–693–8064, (these are not information collection under Control
toll-free numbers) or by email at DOL_ Number 1210–0061.
Agency Information Collection PRA_PUBLIC@dol.gov. OMB authorization for an ICR cannot
Activities; Submission for OMB SUPPLEMENTARY INFORMATION: This ICR be for more than three (3) years without
Review; Comment Request; Employee seeks to extend PRA authority for the renewal, and the current approval for
Retirement Income Security Act information collection requirements
sradovich on DSK3GMQ082PROD with NOTICES
this collection is scheduled to expire on
Prohibited Transaction Class contained in Employee Retirement August 31, 2017. The DOL seeks to
Exemption 1981–8, Investment of Plan Income Security Act (ERISA) Prohibited extend PRA authorization for this
Assets in Certain Types of Short-Term Transaction Class Exemption (PTE) information collection for three (3) more
Investments 1981–8, Investment of Plan Assets in years, without any change to existing
Certain Types of Short-Term requirements. The DOL notes that
ACTION:Notice of availability; request
Investments, which permits the existing information collection
for comments.
investment of ERISA covered plan requirements submitted to the OMB
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![Federal Register / Vol. 82, No. 168 / Thursday, August 31, 2017 / Notices 41429
receive a month-to-month extension DEPARTMENT OF LABOR toll-free numbers) or by email at DOL_
while they undergo review. For PRA_PUBLIC@dol.gov.
additional substantive information Office of the Secretary SUPPLEMENTARY INFORMATION: This ICR
about this ICR, see the related notice seeks to extend PRA authority for the
published in the Federal Register on Agency Information Collection
Interstate Arrangement for Combining
May 22, 2017 (82 FR 23303). Activities; Submission for OMB
Employment and Wages (Reporting
Review; Comment Request; Interstate
Interested parties are encouraged to Form ETA–586) information collection
Arrangement for Combining
send comments to the OMB, Office of that provides data necessary to measure
Employment and Wages
Information and Regulatory Affairs at the scope and effect of the program for
the address shown in the ADDRESSES ACTION:Notice of availability; request combining employment and wages
section within thirty (30) days of for comments. covered under the different State laws
publication of this notice in the Federal for the purpose of determining an
Register. In order to help ensure SUMMARY: On August 31, 2017, the unemployed worker’s entitlement to
appropriate consideration, comments Department of Labor (DOL) will submit workers’ compensation and to monitor
should mention OMB Control Number the Employment and Training the performance of each State’s payment
1210–0061. The OMB is particularly Administration (ETA) sponsored and wage transfer performance. Internal
interested in comments that: information collection request (ICR) Revenue Code of 1986 section
• Evaluate whether the proposed titled, ‘‘Interstate Arrangement for 3304(a)(9)(B) authorizes this
collection of information is necessary Combining Employment and Wages,’’ to information collection. See U.S.C.
for the proper performance of the the Office of Management and Budget 3304(a)(9)(B).
functions of the agency, including (OMB) for review and approval for This information collection is subject
whether the information will have continued use, without change, in to the PRA. A Federal agency generally
practical utility; accordance with the Paperwork cannot conduct or sponsor a collection
• Evaluate the accuracy of the Reduction Act of 1995 (PRA). Public of information, and the public is
agency’s estimate of the burden of the comments on the ICR are invited. generally not required to respond to an
proposed collection of information, DATES: The OMB will consider all
information collection, unless it is
including the validity of the written comments that agency receives approved by the OMB under the PRA
methodology and assumptions used; on or before October 2, 2017. and displays a currently valid OMB
Control Number. In addition,
• Enhance the quality, utility, and ADDRESSES: A copy of this ICR with notwithstanding any other provisions of
clarity of the information to be applicable supporting documentation; law, no person shall generally be subject
collected; and including a description of the likely to penalty for failing to comply with a
• Minimize the burden of the respondents, proposed frequency of collection of information that does not
collection of information on those who response, and estimated total burden display a valid Control Number. See 5
are to respond, including through the may be obtained free of charge from the CFR 1320.5(a) and 1320.6. The DOL
use of appropriate automated, RegInfo.gov Web site at http:// obtains OMB approval for this
electronic, mechanical, or other www.reginfo.gov/public/do/ information collection under Control
technological collection techniques or PRAViewICR?ref_nbr=201707-1205-001 Number 1205–0029.
other forms of information technology, (this link will only become active on the OMB authorization for an ICR cannot
e.g., permitting electronic submission of day following publication of this notice) be for more than three (3) years without
responses. or by contacting Michel Smyth by renewal, and the current approval for
Agency: DOL–EBSA. telephone at 202–693–4129, TTY 202– this collection is scheduled to expire on
Title of Collection: Employee 693–8064, (these are not toll-free August 31, 2017. The DOL seeks to
Retirement Income Security Act numbers) or by email at DOL_PRA_ extend PRA authorization for this
Prohibited Transaction Class Exemption PUBLIC@dol.gov. information collection for three (3) more
1981–8, Investment of Plan Assets in Submit comments about this request years, without any change to existing
Certain Types of Short-Term by mail or courier to the Office of requirements. The DOL notes that
Investments. Information and Regulatory Affairs, existing information collection
OMB Control Number: 1210–0061. Attn: OMB Desk Officer for DOL–ETA, requirements submitted to the OMB
Office of Management and Budget, receive a month-to-month extension
Affected Public: Private Sector— Room 10235, 725 17th Street NW.,
businesses or other for-profits and not- while they undergo review. For
Washington, DC 20503; by Fax: 202– additional substantive information
for-profit institutions. 395–5806 (this is not a toll-free about this ICR, see the related notice
Total Estimated Number of number); or by email: OIRA_ published in the Federal Register on
Respondents: 82,664. submission@omb.eop.gov. Commenters March 15, 2017 (82 FR 13857).
Total Estimated Number of are encouraged, but not required, to Interested parties are encouraged to
Responses: 413,320. send a courtesy copy of any comments send comments to the OMB, Office of
Total Estimated Annual Time Burden: by mail or courier to the U.S. Information and Regulatory Affairs at
103,330 hours. Department of Labor-OASAM, Office of the address shown in the ADDRESSES
Total Estimated Annual Other Costs the Chief Information Officer, Attn: section within thirty (30) days of
Burden: $93,770. Departmental Information Compliance publication of this notice in the Federal
sradovich on DSK3GMQ082PROD with NOTICES
Management Program, Room N1301, Register. In order to help ensure
Authority: 44 U.S.C. 3507(a)(1)(D).
200 Constitution Avenue NW., appropriate consideration, comments
Dated: August 27, 2017. Washington, DC 20210; or by email: should mention OMB Control Number
Michel Smyth, DOL_PRA_PUBLIC@dol.gov. 1205–0029. The OMB is particularly
Departmental Clearance Officer. FOR FURTHER INFORMATION CONTACT: interested in comments that:
[FR Doc. 2017–18476 Filed 8–30–17; 8:45 am] Michel Smyth by telephone at 202–693– • Evaluate whether the proposed
BILLING CODE 4510–29–P 4129, TTY 202–693–8064, (these are not collection of information is necessary
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Document Created: 2017-09-23 10:08:20
Document Modified: 2017-09-23 10:08:20
| 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 of availability; request for comments. | |
| Dates | The OMB will consider all written comments that agency receives on or before October 2, 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 41428 |
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