[Federal Register Volume 66, Number 233 (Tuesday, December 4, 2001)]
[Notices]
[Pages 63068-63069]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-29992]


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DEPARTMENT OF LABOR

Office of the Secretary


Submission for OMB Review; Comment Request

November 15, 2001.
    The Department of Labor (DOL) has submitted the following public 
information collection requests (ICRs) to the Office of Management and 
budget (OMB) for review and approval in accordance with the Paperwork 
Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35). A copy of 
each individual ICR, with applicable

[[Page 63069]]

supporting documentation, may be obtained by calling the Department of 
Labor. To obtain documentation contact Marlene Hawze at ((202) 219-8904 
or email [email protected]).
    Comments should be sent to Office of Information and Regulatory 
Affairs, Attn: OMB Desk Officer for PWBA, Office of Management and 
budget, Room 10235, Washington, DC 20503 ((202) 395-7316), within 30 
days from the date of this publication in the Federal Register.
    The OMB is particularly interested in comments which:
    * 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.
    Type of Review: Extension of a currently approved collection.
    Agency: Pension and Welfare Benefits Administration (PWBA).
    Title: Prohibited Transaction Exemption 86-128.
    OMB Number: 1210-0059.
    Affected Public: Business or other for-profit, Individuals or 
households, and Not-for-profit institutions.
    Frequency: Annually.
    Number of Respondents: 22,974.
    Number of Annual Responses: 542,813.
    Estimated time Per Response: Average of 15 minutes to 1 hour.
    Total Burden Hours: 98,158.
    Total Annualized Capital/Startup Costs: $0.
    Total Annual Costs (operating/maintaining systems or purchasing 
services): $187,606.
    Description: PTE 86-128 permits persons who serve as fiduciaries 
for employee benefit plans to effect or execute securities transactions 
on behalf of employee benefit plans. The information collection 
requirements incorporated within the class exemption are designed as 
appropriate safeguards to ensure the protection of the plan assets 
involved in the transactions, that except for the class exemption, 
would not be permitted. These safeguards rely on the prior 
authorization and monitoring of the broker-fiduciary's activities by a 
second plan fiduciary that is independent of the first.
    Without the relief provided by this class exemption, broker-
fiduciaries who provide research and investment management services to 
accounts for which they effect transactions for the purchase and sale 
of securities, may be barred by the Employee Retirement Income Security 
Act from providing these combined services to employee benefit plans.
    Type of Review: Extension of a currently approved collection.
    Agency: Pension and Welfare Benefits Administration (PWBA).
    Title: Delinquent Filer Voluntary Compliance Program.
    OMB Number: 1210-0089.
    Affected Public: Business or other for-profit, Individuals or 
households; and not-for-profit institutions.
    Frequency: On occasion.
    Number of Respondents: 3,100.
    Number of Annual Responses: 3,100.
    Estimated Time Per Response: 31 minutes.
    Total Burden Hours: 109.
    Total Annualized Capital/Startup Costs: $0.
    Total Annual Costs (operating/maintaining systems or purchasing 
services: $74,384.50.
    Description: The DFVC Program is intended to encourage, using 
reduced civil penalties, delinquent plan administrators to comply with 
their annual reporting obligations under Title I of the Employee 
Retirement Income Security Act of 1974. Delinquent plan administrators 
are those who fail to file timely annual reports for plan years 
beginning on or after January 1, 1988. Eligible plan administrators may 
avail themselves of the DFVC Program by complying with the filing 
requirements and paying the specified civil penalties set out in the 
Notice.
    The information collection requirement included in the DFVC Program 
requires providing data necessary to identify the plan along with the 
penalty payment. This data is the only means by which each penalty 
payment is associated with the relevant plan. If the Department were 
unable to determine readily whether a penalty had already been paid as 
a result of a late filing, an additional penalty might be assessed when 
it was determined that the filing was received after the deadline.

Ira L. Mills,
Departmental Clearance Officer.
[FR Doc. 01-29992 Filed 12-3-01; 8:45 am]
BILLING CODE 4510-29-M