[Federal Register Volume 85, Number 211 (Friday, October 30, 2020)]
[Notices]
[Pages 68934-68935]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-24037]


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DEPARTMENT OF LABOR

Wage and Hour Division


Agency Information Collection Activities: Comment Request; 
Information Collections: Requirements of a Bona Fide Thrift or Savings 
Plan and Requirements of a Bona Fide Profit-Sharing Plan or Trust

AGENCY: Wage and Hour Division, Department of Labor.

ACTION: Notice.

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SUMMARY: The Department of Labor (Department), as part of its 
continuing effort to reduce paperwork and respondent burden, conducts a 
preclearance consultation program to provide the general public and 
federal agencies with an opportunity to comment on proposed and/or 
continuing collections of information in accordance with the Paperwork 
Reduction Act of 1995. This program helps to ensure that requested data 
can be provided in the desired format, reporting burden (time and 
financial

[[Page 68935]]

resources) is minimized, collection instruments are clearly understood, 
and the impact of collection requirements on respondents can be 
properly assessed. Currently, the Wage and Hour Division is soliciting 
comments concerning the revision to Office of Management and Budget 
approval of the Information Collections: Requirements of a Bona Fide 
Thrift or Savings Plan and Requirements of a Bona Fide Profit-Sharing 
Plan or Trust. A copy of the proposed information collection request 
can be obtained by contacting the office listed below in the FOR 
FURTHER INFORMATION CONTACT section of this Notice.

DATES: Written comments must be submitted to the office listed in the 
addresses section below on or before December 29, 2020.

ADDRESSES: You may submit comments, identified by Control Number 1235-
0013, by either one of the following methods:
    Email: [email protected].
    Mail, Hand Delivery, Courier: Division of Regulations, Legislation, 
and Interpretation, Wage and Hour Division, U.S. Department of Labor, 
Room S-3502, 200 Constitution Avenue, NW, Washington, DC 20001.
    Instructions: Please submit one copy of your comments by only one 
method. All submissions received must include the agency name and 
control number identified above for this information collection. 
Because we continue to experience delays in receiving mail in the 
Washington, DC area, commenters are strongly encouraged to transmit 
their comments electronically via email or to submit them by mail 
early. Comments, including any personal information provided, become a 
matter of public record. They will also be summarized and/or included 
in the request for Office of Management and Budget approval of the 
information collection request.

FOR FURTHER INFORMATION CONTACT: Robert Waterman, Compliance 
Specialist, Division of Regulations, Legislation, and Interpretation, 
Wage and Hour Division, U.S. Department of Labor, Room S-3502, 200 
Constitution Avenue, NW, Washington, DC 20001; telephone: (202) 693-
0406 (this is not a toll-free number). Copies of this notice may be 
obtained in alternative formats (Large Print, Braille, Audio Tape or 
Disc), upon request, by calling (202) 693-0023 (not a toll-free 
number). TTY/TDD callers may dial toll-free (877) 889-5627 to obtain 
information or request materials in alternative formats.

SUPPLEMENTARY INFORMATION:

I. Background

    This extension is for the Requirements of a Bona Fide Thrift or 
Savings Plan and Requirements of a Bona Fide Profit-Sharing Plan or 
Trust information collection. The information collection requirements 
apply to employers claiming the overtime exemption available under Fair 
Labor Standards Act section 7(e)(3)(b), 29 U.S.C. 207(e)(3)(b). 
Specifically, in calculating an employee's regular rate of pay, an 
employer need not include contributions made to a bona fide thrift or 
savings plan or a bona fide profit-sharing plan or trust--as defined in 
regulations 29 CFR parts 547 and 549. An employer is required to 
communicate, or to make available to its employees, the terms of the 
bona fide thrift, savings, or profit-sharing plan or trust and to 
retain certain records. Fair Labor Standards Act section 11(c) 
authorizes this information collection. See 29 U.S.C. 211(c).

II. Review Focus

    The Department 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.

III. Current Actions

    The Department seeks to extend the information collection request 
for the Requirements of a Bona Fide Thrift or Savings Plan and 
Requirements of a Bona Fide Profit-Sharing Plan or Trust.
    Type of Review: Extension.
    Agency: Wage and Hour Division.
    Titles: Requirements of a Bona Fide Thrift or Savings Plan and 
Requirements of a Bona Fide Profit-Sharing Plan or Trust.
    OMB Control Number: 1235-0013.
    Affected Public: Businesses or other for-profits.
    Total Estimated Respondents: 1,505,270.
    Total Annual responses: 2,032,115.
    Estimated Total Burden Hours: 1,129.
    Estimated Time Per Response: The annual burden is estimated to 
equal two seconds (one second for disclosure and one second for 
recordkeeping) per new employee.
    Frequency: Annual.
    Total Burden Cost (capital/startup): $0.
    Total Burden Cost (operating/maintenance): $0.

    Dated: October 26, 2020.
Amy DeBisschop,
Director, Division of Regulations, Legislation, & Interpretation.
[FR Doc. 2020-24037 Filed 10-29-20; 8:45 am]
BILLING CODE 4510-27-P