[Federal Register Volume 89, Number 91 (Thursday, May 9, 2024)]
[Notices]
[Pages 39658-39659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-10070]


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DEPARTMENT OF LABOR


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Requirements of a Bona Fide Thrift or Savings 
Plan and Requirements of a Bona Fide Profit-Sharing Plan or Trust

ACTION: Notice of availability; request for comments.

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SUMMARY: The Department of Labor (DOL) is submitting this Wage and Hour 
Division (WHD)-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 June 10, 2024.

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.

FOR FURTHER INFORMATION CONTACT: Michelle Neary by telephone at 202-
693-6312, or by email at [email protected].

SUPPLEMENTARY INFORMATION: This information collection applies to 
employers claiming the overtime exemption available under section 
7(e)(3)(b) of the Fair Labor Standards Act. 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 29 CFR parts 547 
and 549. Employers are required to communicate, or make available to 
the employees, the terms of the bona fide thrift or savings plan and 
bona fide profit-sharing plan or trust, and retain certain records. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on December 20, 2023 (88 FR 
88126).
    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 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.
    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-WHD.
    Title of Collection: 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: Private Sector--Businesses or other for-profits; 
Farms; Not-for-profit institutions.
    Total Estimated Number of Respondents: 3,254,524.
    Total Estimated Number of Responses: 4,393,607.
    Total Estimated Annual Time Burden: 2,441 hours.
    Total Estimated Annual Other Costs Burden: $0.


[[Page 39659]]


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

Michelle Neary,
Senior Paperwork Reduction Act Analyst.
[FR Doc. 2024-10070 Filed 5-8-24; 8:45 am]
BILLING CODE 4510-27-P