[Federal Register Volume 67, Number 224 (Wednesday, November 20, 2002)]
[Notices]
[Pages 70044-70045]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-29378]


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DEPARTMENT OF COMMERCE


Submission For OMB Review; Comment Request

    DOC has submitted to the Office of Management and Budget (OMB) for 
clearance the following proposal for collection of information under 
the provisions of the Paperwork Reduction Act (44 U.S.C. chapter 35).
    Agency: U.S. Census Bureau.
    Title: Quarterly Survey of the Finances Of Public-Employee 
Retirement Systems.
    Form Number(s): F-10.
    Agency Approval Number: 0607-0143.
    Type of Request: Revision of a currently approved collection.
    Burden: 300 hours.
    Number of Respondents: 100.
    Avg Hours Per Response: 45 minutes.
    Needs and Uses: The Census Bureau requests continued OMB clearance 
of the Quarterly Survey of the Finances of Public Employee Retirement 
Systems. Over 2.1 trillion dollars in public-employee retirement system 
assets in the financial markets are controlled by a small number of 
large systems. The 1997 Census of Governments identified 2,276 state 
and local government administered public-employee retirement systems. 
The 100 largest systems, as measured by the system assets, account for 
about 90 percent of the total assets of all systems. This survey is 
used to collect financial data from these 100 systems for policy makers 
and economists to follow the changing characteristics of these funds.
    We are proposing significant revisions to the survey form to make 
the form easier to complete. These changes pertain to decreasing the 
number of data items for the respondent to complete from forty-one to 
nineteen and the use of market value of assets. Previously, data on 
market and book values was collected but in light of the fact that most 
retirement systems use market in keeping with General Accounting Board 
Standards (GASB) rules, book has been removed from form F-10.
    This survey was initiated by the Census Bureau at the request of 
both the Council of Economic Advisors and the Federal Reserve Board. 
The most important information this survey provides is the quarterly 
change in composition of the securities holdings of the public employee 
retirement systems component of the economy. The Federal Reserve Board 
uses these data to track the public sector portion of the flow of funds 
accounts. The Bureau of Economic Analysis uses the quarterly retirement 
information on corporate

[[Page 70045]]

stock holdings to estimate dividends received by state and local 
government retirement systems that, in turn, are used in preparing the 
national income and product accounts. Additionally, these data are a 
significant part of the information base needed to analyze investment 
trends and help in the formulation of governmental economic policies 
and investment decisions.
    Affected Public: State, local or Tribal government.
    Frequency: Quarterly.
    Respondent's Obligation: Voluntary.
    Legal Authority: Title 13 U.S.C., section 182.
    OMB Desk Officer: Susan Schechter, (202) 395-5103.
    Copies of the above information collection proposal can be obtained 
by calling or writing Diana Hynek, Departmental Paperwork Clearance 
Officer, (202) 482-0266, Department of Commerce, room 6625, 14th and 
Constitution Avenue, NW., Washington, DC 20230 (or via the Internet at 
[email protected]).
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to Susan Schechter, OMB Desk Officer either by fax (202-395-7245) or 
email ([email protected]).

    Dated: November 14, 2002.
Madeleine Clayton,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 02-29378 Filed 11-19-02; 8:45 am]
BILLING CODE 3510-07-P