[Federal Register Volume 76, Number 68 (Friday, April 8, 2011)]
[Notices]
[Pages 19791-19792]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-8434]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Extension of Employee Retirement Income 
Security Act Prohibited Transaction Class Exemption 96-62, Process for 
Expedited Approval of an Exemption for Prohibited Transaction

ACTION: Notice.

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SUMMARY: The Department of Labor (DOL) is submitting the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Employee Retirement Income Security

[[Page 19792]]

Act Prohibited Transaction Class Exemption 96-62, Process for Expedited 
Approval of an Exemption for Prohibited Transaction,'' to the Office of 
Management and Budget (OMB) for review and approval for continued use 
in accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 
44 U.S.C. chapter 35).

DATES: Submit comments on or before May 9, 2011.

ADDRESSES: A copy of this ICR, with applicable supporting 
documentation; including a description of the likely respondents, 
proposed frequency of response, and estimated total burden may be 
obtained from the RegInfo.gov Web site, http://www.reginfo.gov/public/do/PRAMain, on the day following publication of this notice or by 
contacting Michel Smyth by telephone at 202-693-4129 (this is not a 
toll-free number) or sending an e-mail to [email protected].
    Submit comments about this request to the Office of Information and 
Regulatory Affairs, Attn: OMB Desk Officer for the Department of Labor, 
Employee Benefits Security Administration (EBSA), Office of Management 
and Budget, Room 10235, Washington, DC 20503, Telephone: 202-395-6929/
Fax: 202-395-6881 (these are not toll-free numbers), e-mail: [email protected].

FOR FURTHER INFORMATION CONTACT: Contact Michel Smyth by telephone at 
202-693-4129 (this is not a toll-free number) or by e-mail at [email protected].

SUPPLEMENTARY INFORMATION: Prohibited Transaction Class Exemption 96-62 
provides for accelerated approval of an exemption permitting a plan to 
engage in a transaction which might otherwise be prohibited following a 
demonstration to the DOL that the transaction: (1) Is substantially 
similar in all material respects to at least two other transactions for 
which the DOL recently granted administrative relief from the same 
restriction; and (2) presents little, if any, opportunity for abuse or 
risk of loss to a plan's participants and beneficiaries. Under the 
class exemption, a party may proceed with a transaction in as little as 
78 days from the acknowledgment of receipt by the DOL of a written 
submission filed in accordance with the terms of the class exemption.
    This information collection is subject to the PRA. A Federal agency 
generally cannot conduct or sponsor a collection of information, and 
the public is generally not required to respond to an information 
collection, unless it is approved by the OMB under the PRA and displays 
a currently valid OMB Control Number. In addition, notwithstanding any 
other provisions of law, no person shall generally be subject to 
penalty for failing to comply with a collection of information if the 
collection of information does not display a valid OMB control number. 
See 5 CFR 1320.5(a) and 1320.6. The DOL obtains OMB approval for this 
information collection under OMB Control Number 1210-0098. The current 
OMB approval is scheduled to expire on April 30, 2011; however, it 
should be noted that information collections submitted to the OMB 
receive a month-to-month extension while they undergo review. For 
additional information, see the related notice published in the Federal 
Register on November 10, 2010 (75 FR 69130).
    Interested parties are encouraged to send comments to the OMB, 
Office of Information and Regulatory Affairs at the address shown in 
the ADDRESSES section within 30 days of publication of this notice in 
the Federal Register. In order to ensure appropriate consideration, 
comments should reference OMB Control Number 1210-0098. The OMB is 
particularly interested in comments that:
     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 (EBSA).
    Title of Collection: Employee Retirement Income Security Act 
Prohibited Transaction Class Exemption 96-62, Process for Expedited 
Approval of an Exemption for Prohibited Transaction.
    OMB Control Number: 1210-0098.
    Affected Public: Private sector--Businesses or other for-profits.
    Total Estimated Number of Respondents: 33.
    Total Estimated Number of Responses: 15,279.
    Total Estimated Annual Burden Hours: 295.
    Total Estimated Annual Costs Burden: $51,000.

    Dated: April 5, 2011.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2011-8434 Filed 4-7-11; 8:45 am]
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