[Federal Register Volume 77, Number 102 (Friday, May 25, 2012)]
[Notices]
[Pages 31392-31393]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-12807]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Settlement Agreements Between a Plan and Party 
in Interest

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, ``Settlement Agreements Between a Plan 
and Party in Interest,'' 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 (44 U.S.C. 3501 et seq.).

DATES: Submit comments on or before June 25, 2012.

ADDRESSES: A copy of this ICR with applicable supporting documentation; 
including a description of 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 email to [email protected].
    Submit comments about this request to the Office of Information and 
Regulatory Affairs, Attn: OMB Desk Officer for DOL-EBSA, Office of 
Management and Budget, New Executive Office Building, Room 10235, 
Washington, DC 20503, Telephone: 202-395-6929/Fax: 202-395-6881 (these 
are not toll-free numbers), email: [email protected].

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

SUPPLEMENTARY INFORMATION: Prohibited Transaction Exemption (PTE) 94-71 
exempts from certain restrictions of the Employee Retirement Income 
Security Act of 1974 (ERISA) and section 4975(c)(2) of the Internal 
Revenue Code of 1986 (Code) a settlement agreement entered into between 
a plan and a party in interest resulting from an investigation of an 
employee benefit plan by the Department. PTE 03-39 similarly exempts 
from certain restrictions of the ERISA and certain taxes of the Code, 
settlement agreements entered into between a plan and a party in 
interest in avoidance of litigation.
    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 31393]]

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 1210-0091. The current OMB approval is scheduled to 
expire on June 30, 2012; 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 December 7, 2011 (76 FR 76439).
    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 1210-0091. 
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: DOL-EBSA.
    Title of Collection: Settlement Agreements between a Plan and Party 
in Interest.
    OMB Control Number: 1210-0091.
    Affected Public: Private Sector--Businesses or other for-profits.
    Total Estimated Number of Respondents: 4.
    Total Estimated Number of Responses: 1080.
    Total Estimated Annual Burden Hours: 30.
    Total Estimated Annual Other Costs Burden: $335.

    Dated: May 22, 2012.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2012-12807 Filed 5-24-12; 8:45 am]
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