[Federal Register Volume 67, Number 238 (Wednesday, December 11, 2002)]
[Notices]
[Page 76198]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-31217]


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DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration


Proposed Extension of Information Collection Request Submitted 
for Public Comment; ERISA Summary Annual Report

AGENCY: Pension and Welfare Benefits Administration, Department of 
Labor.

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). 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 Pension and Welfare Benefits 
Administration is soliciting comments on the proposed extension of the 
ERISA Summary Annual Report requirement.
    A copy of the information collection request (ICR) can be obtained 
by contacting the individual shown in the Addresses section of this 
notice.

DATES: Written comments must be submitted to the office shown in the 
Addresses section on or before February 10, 2003.

ADDRESSES: Gerald B. Lindrew, Department of Labor, Pension and Welfare 
Benefits Administration, 200 Constitution Avenue NW., Washington, DC 
20210, (202) 693-8410, FAX (202) 693-4745 (these are not toll-free 
numbers).

SUPPLEMENTARY INFORMATION: 

I. Background

    Section 104(b)(3) of ERISA and regulations published at 29 CFR 
2520.104b-10 require, with certain exceptions, that administrators of 
employee benefit plans furnish participants and beneficiaries annually 
with material that fairly summarizes the information included in the 
plan's latest annual report. The regulation prescribes the format for 
the summary annual report (SAR), and requires that the SAR be provided 
within nine months after the close of the plan year.
    The SAR is required to be provided to plan participants and 
beneficiaries to ensure that they are informed concerning the financial 
operation and condition of their plans. These disclosures to plan 
participants also assist the Department in its enforcement 
responsibilities by providing participants with sufficient information 
to exercise their rights under ERISA.

II. Review Focus

    The Department of Labor (Department) is particularly interested in 
comments that:
    [sbull] 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;
    [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 Office of Management and Budget's (OMB) approval of this ICR 
will expire on February 28, 2003. After considering comments received 
in response to this notice, the Department intends to submit the ICR to 
OMB for continuing approval. No change to the existing ICR is proposed 
or made at this time.
    Agency: Pension and Welfare Benefits Administration, Department of 
Labor.
    Title: ERISA Summary Annual Report.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0040.
    Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions.
    Respondents: 815,114.
    Responses: 304,196,000.
    Estimated Total Burden Hours: 325,240.
    Estimated Total Burden Cost (Operating and Maintenance): 
$142,448,000.
    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: December 4, 2002.
Gerald B. Lindrew,
Deputy Director, Office of Policy and Research, Pension and Welfare 
Benefits Administration.
[FR Doc. 02-31217 Filed 12-10-02; 8:45 am]
BILLING CODE 4510-29-M