[Federal Register Volume 76, Number 249 (Wednesday, December 28, 2011)]
[Notices]
[Pages 81472-81473]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-33224]


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DEPARTMENT OF COMMERCE


Submission for OMB Review; Comment Request

    The Department of Commerce will submit to the Office of Management 
and Budget (OMB) for clearance the following proposal for collection of 
information under the provisions of the Paperwork Reduction Act (44 
U.S.C. chapter 35).
Agency: U.S. Census Bureau.
    Title: Quarterly Survey of Public Pensions.
    OMB Control Number: 0607-0143.
    Form Number(s): F-10.
    Type of Request: Revision of a currently approved collection.
    Burden Hours: 300.
    Number of Respondents: 100.
    Average Hours Per Response: 45 minutes.
    Needs and Uses: Over 2.7 trillion dollars in public pension assets 
in the financial markets are controlled by a small number of large 
retirement systems. The 2007 Census of Governments identified 2,547 
public retirement systems administered by state and local governments. 
The 100 largest systems, as measured by the system assets, account for 
about 90 percent of the total assets of all systems, based on the 2007 
Census of Governments. The F-10 form is used to collect financial data 
from these 100 systems enabling policy makers and economists to follow 
the changing characteristics of these funds.
    This survey was initiated by the U.S. Census Bureau in 1968 at the 
request of both the Council of Economic Advisers and the Federal 
Reserve Board. The most important information this survey provides is 
the quarterly change in composition of the securities holdings of the 
public retirement systems component of the economy. The Federal Reserve 
Board uses these data to track the public sector portion of the Flow of 
Funds Accounts. The Bureau of Economic Analysis (BEA) uses these data 
to estimate dividends received by state and local government retirement 
systems that, in turn, are used in preparing the National Income and 
Product Accounts. Additionally, these data are a significant part of 
the information base needed to analyze investment trends and help in 
the formulation of governmental economic policies and investment 
decisions.
    Summary tables of the information collected are released quarterly 
on the Internet. Documentation and explanatory materials are also 
available on the Internet site here: http://www.census.gov/govs/www/qpr.html.
    The Census Bureau proposes changing the name of the survey form 
from the Quarterly Survey of the Finances of Public Employee Retirement 
Systems to the Quarterly Survey of Public Pensions. The proposed change 
would simplify the survey name and promote the use of its data by 
highlighting pensions; the terminology that is most used.
    A revision is being made to the section ``Earnings on 
Investments.'' The statement ``Net gain or loss on investments--Include 
both realized + unrealized gains (losses)'' will be modified for added 
granularity and to separate realized gains and losses from unrealized 
gains or losses. It will be divided into three parts: (1) Realized 
gains on investments at book value, (2) realized losses on investments 
at book value, and (3) unrealized net gains (or losses) on investments 
at market value.
    Additionally, federally sponsored agency securities including bonds 
and mortgage backed securities will be moved from ``Corporate Bonds'' 
to

[[Page 81473]]

``Federal Government Securities'' in the ``Cash and Investments'' 
section. The decision to revise this classification was reached after 
multiple meetings with economists from the Federal Reserve Board. The 
Federal Reserve Board uses these data to track the public sector 
portion of the Flow of Funds Accounts. It was determined that federally 
sponsored agency securities were better classified under Federal 
Government Securities instead of Corporate Bonds.
    Affected Public: State, local or tribal governments.
    Frequency: Quarterly.
    Respondent's Obligation: Voluntary.
    Legal Authority: Title 13 U.S.C., Section 182.
    OMB Desk Officer: Brian Harris-Kojetin, (202) 395-7314.
    Copies of the above information collection proposal can be obtained 
by calling or writing Diana Hynek, Departmental Paperwork Clearance 
Officer, (202) 482-0266, Department of Commerce, Room 6616, 14th and 
Constitution Avenue NW, Washington, DC 20230 (or via the Internet at 
[email protected]).
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to Brian Harris-Kojetin, OMB Desk Officer either by fax (202) 395-7245) 
or email ([email protected]).

    Dated: December 22, 2011
Glenna Mickelson,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 2011-33224 Filed 12-27-11; 8:45 am]
BILLING CODE 3510-07-P