[Federal Register Volume 70, Number 23 (Friday, February 4, 2005)]
[Notices]
[Pages 6042-6043]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-2195]


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DEPARTMENT OF LABOR

Office of the Secretary


Submission for OMB Review: Comment Request

January 26, 2005.
    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 ICR, with applicable supporting documentation, may be obtained by 
contacting Darrin King on (202) 693-4129 (this is not a toll-free 
number) or e-mail: [email protected].
    Comments should be sent to Office of Information and Regulatory 
Affairs, Attn: OMB Desk Officer for the Employee Benefits Security 
Administration (EBSA), Office of Management and Budget, Room 10235, 
Washington, DC 20503, (202) 395-7316 (this is not a toll-free number), 
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

[[Page 6043]]

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.
    Agency: Employee Benefits Security Administration.
    Type of Review: Extension of currently approved collection.
    Title: Class Exemption 81-8 for Investment of Plan Assets in 
Certain Types of Short-Term Investments.
    OMB Number: 1210-0061.
    Frequency: On occasion.
    Type of Response: Third party disclosure.
    Affected Public: Business or other for-profit; not-for-profit 
institutions; and individuals or households.
    Number of Respondents: 46,000.
    Number of Annual Responses: 230,000.
    Estimated Time per Response: 10 minutes.
    Total Burden Hours: 38,300.
    Total Annualized Capital/Startup Costs: $0.
    Total Annual Costs (operating/maintaining systems or purchasing 
services): $85,100.
    Description: Prohibited Transaction Class Exemption 81-8 permits 
the investment of plan assets that involve the purchase or other 
acquisition, holding, sale, exchange or redemption by or on behalf of 
an employee benefit plan in certain types of short-term investments. 
These include investments in banker's acceptances, commercial paper, 
repurchase agreements, certificates of deposit, and bank securities. 
Absent the exemption, certain aspects of these transactions might be 
prohibited by section 406 of the Employee Retirement Income Security 
Act (ERISA).
    The information collection requirements incorporated within this 
class exemption are intended to protect the interests of plan 
participants and beneficiaries and provide the Department with 
sufficient information to support a finding that the exemption meets 
the statutory standards of section 406 of ERISA.

    Agency: Employee Benefits Security Administration.
    Type of Review: Extension of currently approved collection.
    Title: Prohibited Transaction Class Exemption 96-62; Process for 
Expedited Approval of an Exemption for Prohibited Transaction.
    OMB Number: 1210-0098.
    Frequency: On occasion.
    Type of Response: Reporting and third party disclosure.
    Affected Public: Business or other for-profit; not-for-profit 
institutions; and individuals or households.
    Number of Respondents: 45.
    Number of Annual Responses: 45.
    Estimated Time per Response: 1.5 minutes.
    Total Burden Hours: 56.
    Total Annualized Capital/Startup Costs: $0.
    Total Annual Costs (operating/maintaining systems or purchasing 
services): $40,463.
    Description: Prohibited Transaction Exemption 96-62, which, 
pursuant to the exemption procedure set forth in 29 CFR part 2570, 
subpart B, permits a plan to seek approval on an accelerated basis of 
other wise prohibited transactions. The information collection 
requirements of this class exemption provide the Department with 
sufficient information to support a finding that the exemption meets 
the statutory standards of section 408(a) of Employee Retirement Income 
Security Act of 1974.

Ira L. Mills,
Departmental Clearance Officer.
[FR Doc. 05-2195 Filed 2-3-05; 8:45 am]
BILLING CODE 4510-29-M