[Federal Register Volume 78, Number 143 (Thursday, July 25, 2013)]
[Notices]
[Page 44981]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-17879]



[[Page 44981]]

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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Plan Asset Transactions Determined by In-House 
Asset Managers Under Prohibited Transaction Class Exemption 96-23

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, ``Plan Asset Transactions Determined 
by In-House Asset Managers under Prohibited Transaction Class Exemption 
96-23,'' to the Office of Management and Budget (OMB) for review and 
approval for continued use, without change, in accordance with the 
Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501 et seq.).

DATES: Submit comments on or before August 26, 2013.

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 free of charge 
from the RegInfo.gov Web site at http://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201305-1210-005 (this link will only become active 
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, Room 10235, 725 17th Street NW., Washington, DC 
20503, Fax: 202-395-6881 (this is not a toll-free number), 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].

    Authority: 44 U.S.C. 3507(a)(1)(D).


SUPPLEMENTARY INFORMATION: The Prohibited Transaction Class Exemption 
for Plan Asset Transactions Determined by In-House Asset Managers (PTE 
96-23) permits various parties in interest to an employee benefit plan 
to engage in transactions involving plan assets if, among other 
requirements, the assets are managed by an in-house asset manager 
(INHAM). The information collection requirements that are PTE 96-23 
conditions include written policies and procedures by an INHAM and 
audit requirements. An independent auditor will use the written 
policies and procedures to determine the INHAM's compliance with the 
exemption. An independent auditor will conduct an annual exemption 
audit and make a determination whether the INHAM is in compliance with 
the written policies and procedures and the objective requirements of 
the exemption. These information collections are designed to safeguard 
participants and beneficiaries in plans managed by INHAMS that are 
involved in transactions covered by the exemption. The exemption does 
not require any reporting or filing with the Federal government. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on November 27, 2012 (77 FR 
70828).
    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 that 
does not display a valid Control Number. See 5 CFR 1320.5(a) and 
1320.6. The DOL obtains OMB approval for this information collection 
under Control Number 1210-0145.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and the current approval for this collection is 
scheduled to expire on July 31, 2013. The DOL seeks to extend PRA 
authorization for this information collection for three (3) more years, 
without any change to existing requirements. It should also be noted 
that existing information collection requirements submitted to the OMB 
receive a month-to-month extension while they undergo review.
    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 mention OMB Control Number 1210-0145. 
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: Plan Asset Transactions Determined by In-House 
Asset Managers under Prohibited Transaction Class Exemption 96-23.
    OMB Control Number: 1210-0145.
    Affected Public: Private Sector--businesses or other for-profits 
and not-for profit institutions.
    Total Estimated Number of Respondents: 20.
    Total Estimated Number of Responses: 20.
    Total Estimated Annual Burden Hours: 940.
    Total Estimated Annual Other Costs Burden: $400,000.

    Dated: July 15, 2013.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2013-17879 Filed 7-24-13; 8:45 am]
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