[Federal Register Volume 67, Number 188 (Friday, September 27, 2002)]
[Notices]
[Pages 61165-61166]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-24498]


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DEPARTMENT OF LABOR

Employment Standards Administration


Proposed 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/or continuing 
collections of information in accordance with the Paperwork Reduction 
Act of 1995 (PRA95) (44 U.S.C. 3506(c)(2)(A)). This program 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 Employment Standards Administration is soliciting 
comments concerning the proposed extension collection: ``Requirements 
of a Bona Fide Profit Sharing Plan or Trust; and Requirements of a Bona 
Fide Thrift or Savings Plan.'' A copy of the proposed information 
collection request can be obtained by contacting the office listed 
below in the ADDRESSES section of this Notice.

DATES: Written comments must be submitted to the office listed in the 
ADDRESSES section below on or before November 26, 2002.

ADDRESSES: Ms. Patricia A. Forkel, U.S. Department of Labor, 200 
Constitution Ave., NW., Room S-3201, Washington, DC 20210, telephone 
(202) 693-0339, fax (202) 693-1451, E-mail esa.gov">[email protected]esa.gov. 
Please use only one method of transmission for comments (mail, fax, or 
E-mail).

SUPPLEMENTARY INFORMATION:

I. Background

    Section 7(e)(3)(b) of the Fair Labor Standards Act (FLSA) permits 
the exclusion from an employee's regular rate of pay, payments on 
behalf of an employee to a ``bona-fide'' profit-sharing plan, and a 
``bona-fide'' thrift or savings plan. Regulations 29 CFR part 549 set 
forth the requirements of a bona fide profit-sharing plan or trust, and 
Regulations 29 CFR part 547 set forth the requirements of a bona fide 
thrift or savings plan. This clearance involves employer maintenance of 
records of such plans. This information collection is currently 
approved for use through February 28, 2003.

II. Review Focus

    The Department of Labor is particularly interested in comments 
which:
    [sbull] Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including

[[Page 61166]]

whether the information will have practical utility;
    [sbull] 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;
    [sbull] Enhance the quality, utility and clarity of the information 
to be collected; and
    [sbull] 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 submissions of responses.

III. Current Actions

    The Department of Labor seeks the extension of approval to collect 
this information in order to determine whether a given thrift or 
savings plan or a profit-sharing plan or trust is in compliance with 
section 7(e)(3). There is no change in this information collection 
since the last OMB clearance.
    Type of Review: Extension.
    Agency: Employment Standards Administration.
    Title: Requirements of a Bona Fide Thrift or Savings Plan, and 
Requirements of a Bona Fide Profit-Sharing Plan.
    OMB Number: 1215-0119.
    Affected Public: Individuals or households; Businesses or other 
for-profit; Not-for-profit institutions; State, Local or Tribal 
Government.
    Total Respondents: 462,000.
    Frequency: Recordkeeping only.
    Total Responses: 462,000.
    Estimated Total Burden Hours (Recordkeeping): 2.
    Total Burden Cost (capital/startup): $0.
    Total Burden Cost (operating/maintenance): $ .
    Comments submitted in response to this notice will be summarized 
and/or included in the request for Office of Management and Budget 
approval of the information collection request; they will also become a 
matter of public record.

    Dated: September 20, 2002.
Margaret J. Sherrill,
Chief, Branch of Management Review and Internal Control, Division of 
Financial Management, Office of Management, Administration and 
Planning, Employment Standards Administration.
[FR Doc. 02-24498 Filed 9-26-02; 8:45 am]
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