[Federal Register Volume 87, Number 82 (Thursday, April 28, 2022)]
[Notices]
[Pages 25306-25307]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-09025]


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DEPARTMENT OF LABOR


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Prohibited Transaction Class Exemptions for 
Multiple Employer Plans and Multiple Employer Apprenticeship Plans

ACTION: Notice of availability; request for comments.

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SUMMARY: The Department of Labor (DOL) is submitting this Employee 
Benefits Security Administration (EBSA)-sponsored information 
collection request (ICR) to the Office of Management and Budget (OMB) 
for review and approval in accordance with the Paperwork Reduction Act 
of 1995 (PRA). Public comments on the ICR are invited.

DATES: The OMB will consider all written comments that the agency 
receives on or before May 31, 2022.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    Comments are invited on: (1) Whether the collection of information 
is necessary for the proper performance of the functions of the 
Department, including whether the information will

[[Page 25307]]

have practical utility; (2) if the information will be processed and 
used in a timely manner; (3) the accuracy of the agency's estimates of 
the burden and cost of the collection of information, including the 
validity of the methodology and assumptions used; (4) ways to enhance 
the quality, utility and clarity of the information collection; and (5) 
ways to minimize the burden of the collection of information on those 
who are to respond, including the use of automated collection 
techniques or other forms of information technology.

FOR FURTHER INFORMATION CONTACT: Mara Blumenthal by telephone at 202-
693-8538, or by email at [email protected].

SUPPLEMENTARY INFORMATION: Section 408(a) of the Employee Retirement 
Income Security Act of 1974 (ERISA) gives the Secretary of Labor the 
authority to ``grant a conditional or unconditional exemption of any 
fiduciary or transaction, or class of fiduciaries or transactions, from 
all or part of the restrictions imposed by sections 406 and 407(a).'' 
In order to grant an exemption under section 408, the Department must 
determine that the exemption is: (1) Administratively feasible; (2) in 
the interests of the plan and its participants and beneficiaries; and, 
(3) protective of the rights of the participants and beneficiaries of 
such plan. The three prohibited transaction class exemptions (PTEs) 
included in this ICR, (1) PTE 76-1, (2) PTE 77-10, and (3) PTE 78-6, 
exempt certain types of transactions commonly entered into by 
``multiemployer'' plans from certain of the prohibitions contained in 
sections 406(a) and 407(a) of ERISA. The Department determined that, in 
the absence of these exemptions, the affected plans would not be able 
to operate efficiently or to enter into routine types of transactions 
necessary for their operations. For additional substantive information 
about this ICR, see the related notice published in the Federal 
Register on December 13, 2021 (86 FR 70866).
    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 the OMB approves it 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 
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
    DOL seeks PRA authorization for this information collection for 
three (3) years. OMB authorization for an ICR cannot be for more than 
three (3) years without renewal. The DOL notes that information 
collection requirements submitted to the OMB for existing ICRs receive 
a month-to-month extension while they undergo review.
    Agency: DOL-EBSA.
    Title of Collection: Prohibited Transaction Class Exemptions for 
Multiple Employer Plans and Multiple Employer Apprenticeship Plans--PTE 
1976-1, PTE 1977-10, PTE 1978-6.
    OMB Control Number: 1210-0058.
    Affected Public: Private Sector--Businesses or other for-profits 
and not-for-profit institutions.
    Total Estimated Number of Respondents: 3,259.
    Total Estimated Number of Responses: 3,409.
    Total Estimated Annual Time Burden: 815 hours.
    Total Estimated Annual Other Costs Burden: $0.

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

    Dated: April 22, 2022.
Mara Blumenthal,
Senior PRA Analyst.
[FR Doc. 2022-09025 Filed 4-27-22; 8:45 am]
BILLING CODE 4510-29-P