[Federal Register Volume 76, Number 144 (Wednesday, July 27, 2011)]
[Notices]
[Pages 44961-44962]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-18936]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Alternative Method of Compliance for Certain 
Simplified Employee Pensions

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, ``Alternative Method of Compliance for 
Certain Simplified Employee Pensions,'' to the Office of Management and 
Budget (OMB) for review and approval for continued use in accordance 
with the Paperwork Reduction Act (PRA) of 1995 (Pub. L. 104-13, 44 
U.S.C. chapter 35).

DATES: Submit comments on or before August 26, 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: Michel Smyth by telephone at 202-693-
4129 (this is not a toll-free number) or by e-mail at [email protected].

SUPPLEMENTARY INFORMATION: The alternative disclosure arrangement 
established through regulations 29 CFR 2520.104-49 relieves a sponsor 
of a non-model Simplified Employee Pension (SEP) of most of the 
reporting and disclosure requirements under Employee Retirement Income 
Security Act (ERISA) Title I. In addition, the disclosure requirements 
set forth in the regulation ensure that an administrator of a non-model 
SEP provides participants with specific written information concerning 
the SEP. This information collection requirement generally requires 
timely written disclosure to employees eligible to participate in a 
non-model SEP, including specific information concerning: Participation 
requirements; allocation formulas for employer contributions; 
designated contact persons for further information; and, for employer 
recommended Individual Retirement Accounts (IRAs), specific terms of 
the IRAs such as rates of return and any restrictions on withdrawals. 
Moreover, general information is required that provides a clear 
explanation of the operation of the non-model SEP; participation 
requirements, and any withdrawal restrictions; and the tax treatment of 
the SEP-related IRA. Furthermore, statements must be provided that 
inform participants of: Any other IRAs under the non-model SEP other 
than that to which employer contributions are made; any options 
regarding rollovers and contributions to other IRAs; descriptions of 
U.S. Department of the Treasury, Internal Revenue Service disclosure 
requirements to participants and information regarding social security 
integration (if applicable); and timely notification of any amendments 
to the terms of the non-model SEP.
    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

[[Page 44962]]

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 1219-0034. The current OMB approval is scheduled to 
expire on July 31, 2011; however, it should be noted that existing 
information collection requirements 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 April 22, 2011 (76 FR 22728).
    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 help ensure appropriate 
consideration, comments should reference OMB Control Number 1210-0034. 
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: Alternative Method of Compliance for Certain 
Simplified Employee Pensions.
    OMB Control Number: 1219-0034.
    Affected Public: Private Sector--Businesses or other for-profits.
    Total Estimated Number of Respondents: 36,000.
    Total Estimated Number of Responses: 68,000.
    Total Estimated Annual Burden Hours: 21,000.
    Total Estimated Annual Other Costs Burden: $23,000.

    Dated: July 21, 2011.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2011-18936 Filed 7-26-11; 8:45 am]
BILLING CODE 4510-29-P