[Federal Register Volume 71, Number 94 (Tuesday, May 16, 2006)]
[Notices]
[Page 28389]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-7406]


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DEPARTMENT OF LABOR

Office of the Secretary


Submission for OMB Review: Comment Request

May 9, 2006.
    The Department of Labor (DOL) has submitted the following public 
information collection request (ICR) 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 
this 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 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: ERISA Summary Annual Report Requirement.
    OMB Number: 1210-0040.
    Frequency: Annually.
    Type of Response: Third party disclosure.
    Affected Public: Business or other for-profit and Not-for-profit 
institutions.
    Number of Respondents: 749,000.
    Number of Annual Responses: 228,686,000.
    Estimated Time per Respondent: Approximately 45 minutes.
    Total Burden Hours: 461,000.
    Total Annualized Capital/Startup Costs: $0.
    Total Annual Costs (operating/maintaining systems or purchasing 
services): $134,161,000.
    Description: Section 104(b)(3) of the Employee Retirement Income 
Security Act of 1974 (ERISA) generally requires employee benefit plan 
administrators annually to furnish a Summary Annual Report (SAR) to 
each plan participant and to certain beneficiaries. The SAR must fairly 
summarize the information included in the plan's most recent annual 
report filed with the Department of Labor.
    The Department of Labor's regulation under section ERISA section 
104(b)(3), codified at 29 CFR 2520.104b-10, prescribes the timing and 
format of the SAR. Plan administrators must furnish a copy of the SAR 
to each participant and to each beneficiary who is receiving benefits 
under the plan (other than welfare plan beneficiaries) within 9 months 
after the close of the plan year.
    The SAR provides plan a timely and accurate description of their 
plan's financial condition. The participants and beneficiaries who 
receive the SAR can determine, based on the information it contains, 
whether they have concerns with the operation of the plan and whether 
to exercise their rights under ERISA, for example, by contacting the 
Department when problems with the plan are identified. Concerned calls 
from participants and beneficiaries are a critical component of the 
Department's compliance assistance and enforcement efforts.

Ira L. Mills,
Departmental Clearance Officer.
 [FR Doc. E6-7406 Filed 5-15-06; 8:45 am]
BILLING CODE 4510-29-P