[Federal Register Volume 67, Number 143 (Thursday, July 25, 2002)]
[Notices]
[Page 48677]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-18874]


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DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration


Proposed Extension of Information Collection; Comment Request

ACTION: Notice.

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SUMMARY: The Department of Labor, as part of its continuing effort to 
reduce paperwork and respondent burden, conducts a preclearance 
consultation program to provide the general public and Federal agencies 
with an opportunity to comment on proposed and continuing collections 
of information in accordance with the Paperwork Reduction Act of 1995 
(PRA 95) (44 U.S.C. 3506(c)(2)(A)). This helps to ensure that requested 
data can be provided in the desired format, reporting burden (time and 
financial resources) is minimized, collection instruments are clearly 
understood, and the impact of collection requirements on respondents 
can be properly assessed.
    Currently, the Pension and Welfare Benefits Administration is 
soliciting comments concerning the information collection request (ICR) 
incorporated in the regulation pertaining to Disclosure by Insurers to 
General Account Policyholders pursuant to ERISA Section 401(c) and 29 
CFR 2550.401c-1. A copy of the ICR may be obtained by contacting the 
office listed in the addresses section of this notice.

DATES: Written comments must be submitted to the office shown in the 
address section below on or before September 23, 2002.

ADDRESSES: Gerald B. Lindrew, Office of Policy and Research, U.S. 
Department of Labor, Pension and Welfare Benefits Administration, 200 
Constitution Avenue, NW., Room N-5647, Washington, DC 20210. Telephone: 
(202) 694-8410; Fax: (202) 219-4745. These are not toll-free numbers.

SUPPLEMENTARY INFORMATION:

I. Background

    Section 1460 of the Small Business Job Protection Act of 1996 (Pub. 
L. 104-188) amended ERISA by adding Section 401(c), which clarified the 
extent to which assets of an insurer's general accounts constitute 
assets of an employee benefit plan when that insurer has issued 
policies for the benefit of a plan, and such policies are supported by 
assets of the general account. Section 401(c) established certain 
requirements and disclosures for companies that offer and maintain 
policies for employee benefits plans where the underlying assets are 
held in the insurer's general account. Section 401(c) also required the 
Secretary to provide guidance on the statutory requirements, which was 
issued as a final rulemaking on January 5, 2000 (65 CFR 614). The 
regulation includes information collection provisions pertaining to 
one-time and annual disclosure obligations of insurers.

II. Desired Focus of Comments

    The Department 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.

III. Current Action

    This notice requests comments on the extension of the ICR included 
in the regulation pertaining to Disclosures by Insurers to General 
Account Policyholders. The Department is not proposing or implementing 
changes to the existing ICR at this time.
    Type of Review: Extension of a currently approved collection of 
information.
    Agency: Pension and Welfare Benefits Administration, Department of 
Labor.
    Titles: Disclosures by Insurers to General Account Policyholders.
    OMB Number: 1210-0114.
    Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
    Respondents: 104.
    Frequency of Response: One-time; Annual.
    Responses: 123,500.
    Estimated Total Burden Hours: 466,667.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of the information 
collection request; they will also become a matter of public record.

    Dated: July 19, 2002.
Gerald B. Lindrew,
Deputy Director, Office of Policy and Research Pension and Welfare 
Benefits Administration.
[FR Doc. 02-18874 Filed 7-24-02; 8:45 am]
BILLING CODE 4510-29-M