Agency Information Collection Activities; Request for Public Comment

CourtEmployee Benefits Security Administration,Labor Department
Record Number2022-05591
Published date17 March 2022
Federal Register, Volume 87 Issue 52 (Thursday, March 17, 2022)
[Federal Register Volume 87, Number 52 (Thursday, March 17, 2022)]
                [Notices]
                [Pages 15267-15272]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2022-05591]
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                DEPARTMENT OF LABOR
                Employee Benefits Security Administration
                Agency Information Collection Activities; Request for Public
                Comment
                AGENCY: Employee Benefits Security Administration (EBSA), Department of
                Labor.
                ACTION: Notice.
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                SUMMARY: The Department of Labor (the Department), in accordance with
                the Paperwork Reduction Act, provides the general public and Federal
                agencies with an opportunity to comment on proposed and continuing
                collections of information. This helps the Department assess the impact
                of its information collection requirements and minimize the public's
                reporting burden. It also helps the public understand the Department's
                information collection requirements and provide the requested data in
                the desired format. The Employee Benefits Security Administration
                (EBSA) is soliciting comments on the proposed extension of the
                information collection requests (ICRs) contained in the documents
                described below. A copy of the ICRs may be obtained by contacting the
                office listed in the ADDRESSES section of this notice. ICRs also are
                available at reginfo.gov (http://www.reginfo.gov/public/do/PRAMain).
                DATES: Written comments must be submitted to the office shown in the
                Addresses section on or before May 16, 2022.
                ADDRESSES: James Butikofer, Department of Labor, Employee Benefits
                Security Administration, 200 Constitution Avenue NW, Room N-5718,
                Washington, DC 20210, or [email protected].
                SUPPLEMENTARY INFORMATION:
                I. Current Actions
                 This notice requests public comment on the Department's request for
                extension of the Office of Management and Budget's (OMB) approval of
                ICRs contained in the rules and prohibited transaction exemptions
                described below. The Department is not proposing any changes to the
                existing ICRs at this time. An agency may not conduct or sponsor, and a
                person is not required to respond to, an information collection unless
                it displays a valid OMB control number. A summary of the ICRs and the
                current burden estimates follows:
                 Agency: Employee Benefits Security Administration, Department of
                Labor.
                [[Page 15268]]
                 Title: Employee Retirement Income Security Act Prohibited
                Transaction Exemption 1986-128 For Securities Transactions Involving
                Employee Benefit Plans and Broker-Dealers.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0059.
                 Affected Public: Not for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 11,894.
                 Responses: 819,448.
                 Estimated Total Burden Hours: 19,495.
                 Estimated Total Burden Cost (Operating and Maintenance): $661,045.
                 Description: Prohibited Transaction Class Exemption (PTE) 86-128,
                which was granted on November 18, 1986, exempts from the prohibited
                transaction restrictions a fiduciary's use of its authority to cause a
                plan (including an individual retirement account) or a pooled
                investment fund to pay a fee to the fiduciary for effecting or
                executing of securities transactions as agent for the plan or fund. It
                also permits a fiduciary to act as an agent in an agency cross
                transaction for both the plan and one or more other parties to the
                transaction, and to receive reasonable compensation for effecting or
                executing the agency cross transaction from one or more of the other
                parties to the transaction.
                 Section III of the class exemption imposes the following
                information collection requirements on fiduciaries of employee benefit
                plans that effect or execute securities transactions (``broker-
                dealers'') and the independent plan fiduciary authorizing the plan to
                engage in the transactions with the broker-dealer (``authorizing
                fiduciary'') under the conditions contained in the exemption: (1) The
                authorizing plan fiduciary must provide the broker-dealer with an
                advance written authorization for the transactions; (2) The broker-
                dealer must provide the authorizing fiduciary with information
                necessary to determine whether an authorization should be made,
                including a copy of the exemption, a form for termination, a
                description of the broker-dealer's brokerage placement practices, and
                any other reasonably available information regarding the matter that
                the authorizing fiduciary requests; (3) The broker-dealer must provide
                the authorizing fiduciary with a termination form, at least annually,
                explaining that the authorization is terminable at will, without
                penalty to the plan, and that failure to return the form will result in
                continued authorization for the broker-dealer to engage in securities
                transactions on behalf of the plan; (4) The broker-dealer must provide
                the authorizing fiduciary with either (a) a confirmation slip for each
                individual securities transaction within 10 days of the transaction
                containing the information described in Rule 10b-10(a)(1-7) under the
                Securities Exchange Act of 1934, 17 CFR 240.10b-10 or (b) a quarterly
                report containing certain financial information including the total of
                all transaction-related charges incurred by the plan; (5) The broker-
                dealer must provide the authorizing fiduciary with an annual summary of
                the confirmation slips or quarterly reports, containing all security
                transaction-related charges, the brokerage placement practices (if
                changed), and a portfolio turnover ratio; and (6) A broker-dealer who
                is a discretionary plan trustee must provide the authorizing fiduciary
                with an annual report showing separately the commissions paid to
                affiliated brokers and non-affiliated brokers, on both a total dollar
                basis and a cents-per-share basis.
                 These requirements are designed as appropriate safeguards to ensure
                the protection of the plan assets involved in the transactions, which,
                in the absence of the class exemption, would not be permitted. These
                safeguards rely on the prior authorization and monitoring of the
                broker-fiduciary's activities by a second plan fiduciary that is
                independent of the first. They are necessary, as required under section
                408(a) of ERISA, to ensure that respondents rely on the exemption only
                in the circumstances protective of plan participants and beneficiaries.
                The Department has received approval from OMB for this ICR under OMB
                Control No. 1210-0059. The current approval is scheduled to expire on
                August 31, 2022.
                 Title: Prohibited Transaction Class Exemption 75-1, Security
                Transactions with Broker-Dealers, Reporting Dealers, and Banks.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0092.
                 Affected Public: Not for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 6,116.
                 Responses: 6,116.
                 Estimated Total Burden Hours: 1,019.
                 Estimated Total Burden Cost (Operating and Maintenance): $0.
                 Description: Prohibited Transaction Exemption (PTE) 75-1 was
                granted on October 24, 1975. It consists of five parts covering, among
                other things, securities transactions between plans and broker-dealers,
                reporting dealers and banks as well as other parties. PTE 75-1 Part I
                covers brokerage commissions and related services as well as advice by
                persons that are not fiduciaries. Part II allows broker-dealers to
                engage in principal purchases or sales of securities with plans and
                permits reporting dealers and banks to do the same with respect to
                Government securities. Part III allows a plan to purchase certain
                securities from underwriting syndicates of which a plan fiduciary is a
                member. Part IV allows a plan to purchase from or sell securities to a
                market maker even if the market maker is a fiduciary. Part V allows a
                broker-dealer to extend credit to a plan in connection with the
                purchase or sale of securities. Each of the five parts of the exemption
                contains its own conditions and limitations.
                 In order to ensure that the exemption is not abused, that the
                rights of participants and beneficiaries are protected, and that
                parties comply with the exemption's conditions, the Department requires
                limited information collection pertaining to the affected transactions.
                The information collection requirements that are conditions to reliance
                on the class exemption consist only of recordkeeping. The records must
                generally be maintained to enable plan fiduciaries and certain other
                persons specified in the exemption (e.g., Department representatives
                and employers of participants and beneficiaries) to determine whether
                the conditions of the exemptions have been met. The records must
                demonstrate that the transactions are fair to the plan. For certain
                transactions covered by the exemption, the records must show that
                qualitative standards (e.g., that the securities involved are of a
                certain type) and quantitative standards (e.g., that the amount of
                securities acquired by the plan does not exceed three percent of the
                total amount of such securities being offered) were met. Consistent
                with the other prohibited transaction exemptions granted by the
                Department, the exemptions require that records of transactions entered
                in reliance on the exemptions be maintained for a period of 6 years
                from the date of each transaction. The Department has received approval
                from OMB for this ICR under OMB Control No. 1210-0092. The current
                approval is scheduled to expire on August 31, 2022.
                 Title: Notice of Special Enrollment Rights under Group Health
                Plans.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0101.
                [[Page 15269]]
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 2,330,305.
                 Responses: 8,746,897.
                 Estimated Total Burden Hours: 1.
                 Estimated Total Burden Cost (Operating and Maintenance): $76,536.
                 Description: The Health Insurance Probability and Accountability
                Act (HIPAA) provisions limit the extent to which group health plans and
                their health insurance issuers can restrict health coverage based on
                pre-existing conditions for individuals who previously had health
                coverage. Section 701(f) of ERISA also provides special enrollment
                rights to individuals who have previously declined health coverage
                offered to them to enroll in health coverage upon the occurrence of
                specified events, including when they lose other coverage, when
                employer contributions to the cost of other coverage cease, and when
                they marry, have a child or adopt a child (``special enrollment
                events''). Plans and issuers are required to provide for 30-day special
                enrollment periods following any of these events during which
                individuals who are eligible but not enrolled have a right to enroll
                without being denied enrollment or having to wait for a late enrollment
                opportunity (often called ``open enrollment'').
                 Under the HIPAA provisions, a group health plan may require, as a
                pre-condition to having a special enrollment right to enroll in group
                health coverage after losing eligibility under other coverage, that an
                employee or beneficiary who declines coverage provide the plan a
                written statement declaring whether he or she is declining coverage
                because of having other coverage. Failure to provide such a written
                statement can then be treated as eliminating the individual's right to
                special enrollment upon losing eligibility for such other coverage. The
                regulations further establish that the right to special enroll can be
                denied in such circumstances only if employees are given notice of the
                requirement for a written statement and the consequences of failing to
                provide the written statement at the time an employee declines
                enrollment. As part of the special enrollment notice, it must be given
                at or before the time the employee is initially offered the opportunity
                to enroll.
                 This information collection request covers the requirement in the
                implementing regulations under section 701(f) for a special enrollment
                notice. This information collection implements the disclosure
                obligation of a plan to inform all employees, at or before the time
                they are initially offered the opportunity to enroll in the plan, of
                the plan's special enrollment rules. The regulations require plans and
                their issuers to provide all employees with a notice describing their
                special enrollment rights, whether or not they enroll. This provision
                is necessary to make sure that employees are informed of their special
                enrollment rights before they take any action that may affect those
                rights, so that they will be aware of and able to exercise their rights
                within any 30-day enrollment period following a special enrollment
                event. The Department has received approval from OMB for this ICR under
                OMB Control No. 1210-0101. The current approval is scheduled to expire
                on August 31, 2022.
                 Title: Annual Report for Multiple Employer Welfare Arrangements.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0116.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 572.
                 Responses: 572.
                 Estimated Total Burden Hours: 120.
                 Estimated Total Burden Cost (Operating and Maintenance): $111,377.
                 Description: The Health Insurance Portability and Accountability
                Act of 1996 (HIPAA), codified as Part 7 of Title I of the Employee
                Retirement Security Act of 1974 (ERISA), was enacted to improve the
                portability and continuity of health care coverage for participants and
                beneficiaries of group health plans. HIPAA also added section 101(g) to
                ERISA, providing the Secretary of Labor (Secretary) with authority to
                require, by regulation, multiple employer welfare arrangements (MEWAs)
                as defined in section 3(40) of ERISA, that offer or provide coverage
                for medical benefits but which are not group health plans (non-plan
                MEWAs), to report annually for the purpose of determining compliance
                with Part 7 requirements. While the statutory authority was directed at
                non-plan MEWAs, based on the authority in ERISA sections 101(g), 505,
                and 734, the Department of Labor (Department) in 2003 promulgated a
                regulation at 29 CFR 2520.101-2 that required the administrators of
                both plan MEWAs and non-plan MEWAs that offer or provide coverage for
                medical benefits, as well certain entities that claim not to be a MEWA
                solely due to the exception in section 3(40)(A)(i) of ERISA (referred
                to as ``Entities Claiming Exception'' or ``ECEs''), to file the Form M-
                1 on an annual basis (Form M-1 annual report).
                 The Patient Protection and Affordable Care Act and the Health Care
                and Education Reconciliation Act of 2010 (these are collectively known
                as the ``Affordable Care Act'' or ``ACA'') amended section 101(g) of
                ERISA to require non-plan MEWAs that provide benefits consisting of
                medical care to register with the Secretary before operating in a
                State. In 2011, the Department amended the Form M-1 reporting
                regulations to enact the ACA required provisions by requiring all MEWAs
                (plan and non-plan MEWAs) that offer or provide coverage for medical
                benefits and ECEs to register with the Secretary upon occurrence of
                certain registration events, such as prior to operating in a State, in
                addition to continued reporting on an annual basis regarding compliance
                with part 7 of ERISA.
                 The primary purpose of the information collection contained in the
                Form M-1 is to provide the Department with a complete and uniform
                source of information that identifies MEWAs and helps the Secretary and
                State regulators evaluate Part 7 compliance by MEWAs. The Department
                has received approval from OMB for this ICR under OMB Control No. 1210-
                0116. The current approval is scheduled to expire on August 31, 2022.
                 Title: Multiple Employer Welfare Arrangement Administrative Law
                Judge Administrative Hearing Procedures.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0148.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 10.
                 Responses: 10.
                 Estimated Total Burden Hours: 20.
                 Estimated Total Burden Cost (Operating and Maintenance): $668,900.
                 Description: Section 521 of ERISA, 29 U.S.C. 1151, provides that
                the Secretary of Labor may issue ex parte cease and desist orders when
                it appears to the Secretary that the alleged conduct of a multiple
                employer welfare arrangement (MEWA) under section 3(40) of the Act, 29
                U.S.C. 1002(40), is fraudulent, or creates an immediate danger to the
                public safety or welfare, or is causing or can be reasonably expected
                to cause significant, imminent, and irreparable public injury. Section
                521(b) provides that a person that is adversely affected by the
                issuance of a cease and desist order may request an administrative
                hearing regarding the order. The Department has promulgated a final
                regulation that is the subject of this
                [[Page 15270]]
                information collection request, which describes the procedures before
                an administrative law judge (ALJ) when a person seeks an administrative
                hearing for review of such an order.
                 Under section 2571.3 of the rule, the party that is subject to a
                cease and desist order issued under ERISA section 521 has the burden to
                initiate an adjudicatory proceeding before an ALJ. Section 2571.3
                governs the service of documents necessary to initiate ALJ proceedings
                by such a party on the Secretary of Labor and the ALJ. The Department
                expects that MEWAs contesting a cease and desist order will hire
                outside counsel to draft motions, petitions, pleadings, briefs, and
                other documents relating to the case. These are information collection
                requests (ICRs) subject to the Paperwork Reduction Act. The information
                will be used by a party that is subject to a cease and desist order
                issued under ERISA section 521 to contest the order through an
                adjudicatory proceeding before an ALJ. This section would apply in such
                cases in lieu of 29 CFR 18.3. The Department has received approval from
                OMB for this ICR under OMB Control No. 1210-0148. The current approval
                is scheduled to expire on August 31, 2022.
                 Title: Alternative Reporting Methods for Apprenticeship and
                Training Plans and Top Hat Plans.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0153.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 1,872.
                 Responses: 1,872.
                 Estimated Total Burden Hours: 312.
                 Estimated Total Burden Cost (Operating and Maintenance): $0.
                 Description: Section 2520.104-22 provides an exemption to the
                reporting and provision of Part 1 of Title I of ERISA for employee
                welfare benefit plans that provide exclusively apprenticeship and
                training benefits if the plan administrator meets the following
                requirements: (1) Files a notice with the Secretary that provides the
                name of the plan, the plan sponsor's Employer Identification Number,
                the plan administrator's name, and the name and location of an office
                or person from whom interested individuals can obtain certain info
                about courses offered by the plan; and (2) take steps reasonably
                designed to ensure that the information required to be contained in the
                notice is disclosed to employees of employers contribution to the plan
                who may be eligible to enroll in any course of study sponsored or
                establish by the plan; (3) and make the notice available to employees
                upon request.
                 Under 2520.14-23, the Department provides an alternative method of
                compliance with the reporting and disclosure of Title I of ERISA for
                unfunded or insured plan established for a select group of management
                of highly compensated employees (i.e., top hat plans). In order to
                satisfy the alternative method of compliance, the plan administrator
                must file a statement with the Secretary of Labor that includes the
                name and address of the employer, the employer EIN, a declaration that
                the employer maintains a plan or plans primarily for the purpose of
                providing deferred compensation for a select group of management or
                highly compensated employees, and a statement of the number of such
                plans and the employees covered by each. Plan documents must be made
                available to the Secretary upon request, and only one statement needs
                to be filed for each employer maintaining one or more of the plans.
                 The 2019 final rule requires electronic filing with the Secretary
                through EBSA's website in accordance with instructions published by the
                Department. Going forward, EBSA's web-based filing system will be the
                exclusive method for filing these notices and statements; filings by
                mail or personal delivery will no longer be accepted. The new web-based
                system is designed to assist administrators by ensuring that all of the
                information required by the regulations is included in the notice or
                statement before the filing can be completed through the website. Upon
                submission of a completed filing, the new web-based filing system sends
                an electronic confirmation of receipt to the administrator. This
                confirmation is not available through the existing paper-based filing
                system. The design of the new filing system facilitates the requirement
                that plan administrators of apprenticeship and training plans make
                notices available to participants upon request under Sec. 2520.104-
                22(a)(3). Filings are now available to the public on the Department's
                website at http://www.dol.gov/ebsa. The Department has received
                approval from OMB for this ICR under OMB Control No. 1210-0153. The
                current approval is scheduled to expire on August 31, 2022.
                 Title: Insurance and Annuity Contracts and Mutual Fund Principal
                Underwriters (PTE 1984-24).
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0158.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 2,789.
                 Responses: 227,068.
                 Estimated Total Burden Hours: 18,948.
                 Estimated Total Burden Cost (Operating and Maintenance): $92,377.
                 Description: PTE 84-24, as amended, provides an exemption for
                insurance agents, insurance brokers and pension consultants to receive
                a sales commission from an insurance company in connection with the
                purchase, with plan or IRA assets, of an insurance or annuity contract.
                Relief is also provided for a principal underwriter for an investment
                company registered under the Investment Company Act of 1940 to receive
                a sales commission in connection with the purchase, with plan or IRA
                assets, of securities issued by the investment company.
                 In order to receive commissions in conjunction with the purchase of
                an insurance or annuity contract or of securities issued by the
                investment company, the insurance agent, insurance broker, pension
                consultant, or principal underwriter must obtain written authorization
                from the authorizing fiduciary. Prior to obtaining the written
                authorization, the insurance agent, insurance broker, pension
                consultant, or principal underwriter must provide the authorizing
                fiduciary with sufficient materials and disclosures for the authorizing
                fiduciary to evaluate the appropriateness of the investment. Finally,
                the insurance agent, insurance broker, pension consultant, or principal
                underwriter must maintain sufficient records to demonstrate that the
                conditions of the exemption have been met. In order to ensure that the
                class exemption is not abused, that the rights of the participants and
                beneficiaries are protected, and that the exemption's conditions are
                being complied with, the Department often requires minimal information
                collection pertaining to the affected transactions. The Department has
                received approval from OMB for this ICR under OMB Control No. 1210-
                0158. The current approval is scheduled to expire on August 31, 2022.
                 Title: Employee Retirement Income Security Act of 1974 Investment
                Manager Electronic Registration.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0125.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                [[Page 15271]]
                 Respondents: 4.
                 Responses: 4.
                 Estimated Total Burden Hours: 4.
                 Estimated Total Burden Cost (Operating and Maintenance): $270.
                 Description: Section 203A(a) of the Investment Advisers Act of 1940
                (and the implementing SEC regulations) provides that investment
                advisers with less than $25 million in assets under management must
                register with the state regulatory authority in the state where the
                investment adviser maintains its principal office and place of
                business, rather than with the SEC; advisers with more than $30 million
                in assets under management must register with the SEC; and those with
                assets under management between those two dollar values are permitted
                to choose between state registration and registration with the SEC.
                 Investment advisers that register with a state, rather than with
                the SEC, must satisfy ERISA's section 3(38) requirement to file a copy
                of the state registration with the Department by electronically
                registering through the Investment Adviser Registration Depository
                (IARD). This is a centralized electronic filing system operated by the
                SEC in conjunction with state securities regulation authorities.
                Because the IARD was established by the SEC and the states, and made
                mandatory for advisers required to file with SEC, and because all
                states permit filing through IARD even for advisers who do not file
                with SEC, the Department determined that use of the IARD would
                eliminate the duplication of filing paper copies of state registration
                forms with the Department and facilitate creation of a uniform and
                efficient ``one-stop'' filing system for state-registered filings by
                advisers who wished to meet the ``investment manager'' definition of
                ERISA section 3(38).
                 Previously, state-registered advisers that filed with the states in
                a variety of ways, including paper, electronically through vendor-
                provided software, and through IARD were required to file an additional
                paper copy of the filing with the Department in order to meet the
                requirements of section 3(38). This information collection incorporates
                electronic filing as a mandatory element, eliminating the previously
                required duplicative filing of a paper copy of a state registration
                with the Department. The Department has received approval from OMB for
                this ICR under OMB Control No. 1210-0125. The current approval is
                scheduled to expire on September 30, 2022.
                 Title: Securities Lending by Employee Benefit Plans, Prohibited
                Transaction Exemption 2006-16.
                 Type of Review: Extension without change of a currently approved
                collection.
                 OMB Number: 1210-0065.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 155.
                 Responses: 1,550.
                 Estimated Total Burden Hours: 297.
                 Estimated Total Burden Cost (Operating and Maintenance): $12,765.
                 Description: In 2006, the Department promulgated a final class
                exemption, PTE 2006-16, which amended and replaced the exemptions
                previously provided under PTE 81-6 and PTE 82-63. The final exemption
                incorporates the exemptions into one renumbered exemption and expands
                the categories of exempted transactions to include securities lending
                to foreign banks and broker-dealers that are domiciled in specified
                countries and to allow the use of additional forms of collateral, all
                subject to specified conditions outlined in the exemption.
                 Among other conditions, the class exemption requires a bank or
                broker-dealer that borrows securities from a plan to provide the
                lending fiduciary with its most recent audited financial statement. The
                borrower must also affirm, when the loan is negotiated, that there has
                been no material adverse change in its financial condition since the
                previously audited statement. The exemption also requires the
                agreements regarding the securities loan transaction or transactions
                and the compensation arrangement for the lending fiduciary to be
                contained in written documents. Individual agreements are not required
                for each transaction; rather the compensation agreement may be made in
                the form of a master agreement covering a series of transactions. The
                Department has received approval from OMB for this ICR under OMB
                Control No. 1210-0065. The current approval is scheduled to expire on
                October 31, 2022.
                 Title: Prohibited Transaction Class Exemption 1988-59, Residential
                Mortgage Financing Arrangements Involving Employee Benefit Plans.
                 Type of Review: Extension without change of a currently approved
                collection.
                 OMB Number: 1210-0095.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 2,192.
                 Responses: 10,960.
                 Estimated Total Burden Hours: 913.
                 Estimated Total Burden Cost (Operating and Maintenance): $0.
                 Description: Prohibited Transaction Class Exemption (PTE) 88-59,
                which amended and replaced PTE 82-87, allows employee benefit plans to
                participate in several different types of residential mortgage
                financing transactions, provided certain conditions are met. Without
                this exemption, these transactions would be prohibited under section
                406 of ERISA and under the prohibited transaction provisions of section
                4975 of the Internal Revenue Code (the Code). The five categories of
                transactions permitted under the exemption are: (1) Issuance of
                commitments for the provision of mortgage financing to purchasers of
                residential dwelling units; (2) receipt by a plan of a fee for the
                issuance of the commitments; (3) the actual making or purchase of a
                mortgage loan or participation interest therein pursuant to the
                commitment; (4) the actual making or purchase of an mortgage loan or
                participation interest therein without the precondition of a
                commitment; and (5) the sale, exchange or transfer of a mortgage loan
                or participation interest therein prior to the maturity date of the
                instrument, provided that the interest sold, exchanged, or transferred
                represents the plan's entire interest in such investment.
                 Among other conditions, the exemption requires a plan to maintain
                for the duration of any loan made pursuant to this exemption all
                records necessary to determine whether conditions of the exemption have
                been met and to make such records available for examination on request
                by any trustee, investment manager, participant or beneficiary of the
                plan, or agents of the Department or the IRS. Such records could
                include, for example, showing the identities of the borrower, lender,
                any developer or builder involved, the qualifications of the lender,
                the written acknowledgment of the fiduciary obligation of any real
                estate manager involved in the transaction, evidence of the type of
                residential dwelling unit involved, and information concerning
                comparable mortgages and expenses offered at the time of the
                commitments. The Department has received approval from OMB for this ICR
                under OMB Control No. 1210-0095. The current approval is scheduled to
                expire on October 31, 2022.
                 Title: National Medical Support Notice-Part B.
                 Type of Review: Extension of a currently approved collection of
                information.
                 OMB Number: 1210-0113.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                [[Page 15272]]
                 Respondents: 425,444.
                 Responses: 10,546,371.
                 Estimated Total Burden Hours: 878,864.
                 Estimated Total Burden Cost (Operating and Maintenance):
                $3,322,107.
                 Description: Pursuant to Section 401(a) of the CSPIA, the
                Department of Labor (the Department) and HHS jointly promulgated the
                National Medical Support Notice Final Rule on December 27, 2000 (65 FR
                82128) (NMSN Regulation). The NMSN Regulation simplifies the issuance
                and processing of medical child support orders; standardizes
                communication between state agencies, employers, and Plan
                Administrators; and creates a uniform and streamlined process for
                enforcement of medical child support to ensure that all eligible
                children receive the health care coverage to which they are entitled.
                 The NMSN Regulation, codified at 29 CFR 2590.609-2, includes a
                model National Medical Support Notice (NMSN) that is comprised of two
                parts: Part A is a notice from the state agency to the employer,
                entitled: ``Notice to Withhold for Health Care Coverage;'' and Part B
                is a notice from the employer to the Plan Administrator, entitled:
                ``Medical Support Notice to Plan Administrator.'' Both Parts have
                detailed instructions informing the recipient to whom responses are due
                depending on varying circumstances. This ICR addresses the Plan
                Administrator's responsibilities under NMSN Regulation to complete Part
                B of the NMSN, the ``Plan Administrator Response,'' pursuant to the
                CSPIA and section 609(a)(5)(C) of Title I of ERISA.
                 The ``Plan Administrator Response'' in Part B of the NMSN requires
                the Plan Administrator to provide information verifying whether the
                child is or will be receiving health care coverage from the group
                health plan. If enrollment has already occurred or can begin
                immediately, the Plan Administrator's response in Part B serves as
                notice to the state agency, the participant (parent), the child (or
                their non-participant parent or guardian) and the employer that the
                child is or will begin receiving dependent health care coverage
                pursuant to the group health plan. When the child is eligible for more
                than one coverage option, the Administrator must first send the Part B
                response to the state agency so that the agency may choose one option.
                The Plan Administrator must also use the Part B response to notify all
                of the above-affected persons of any waiting period before enrollment
                of the child can occur. The Department has received approval from OMB
                for this ICR under OMB Control No. 1210-0113. The current approval is
                scheduled to expire on October 31, 2022.
                 Title: Access to Multiemployer Plan Information.
                 Type of Review: Extension without change of a currently approved
                collection.
                 OMB Number: 1210-0131.
                 Affected Public: Not-for-profit institutions, Businesses or other
                for-profits.
                 Respondents: 2,636.
                 Responses: 235,798.
                 Estimated Total Burden Hours: 30,379.
                 Estimated Total Burden Cost (Operating and Maintenance): $521,815.
                 Description: Section 101(k)(1) of ERISA requires multiemployer plan
                administrators to furnish certain documents to any plan participant,
                beneficiary, employee representative, or any employer that has an
                obligation to contribute to the plan upon written request. The
                Department issued a final rule that implements the disclosure
                requirements of ERISA section 101(k) on March 2, 2010 (75 FR 9334). The
                documents that may be requested are: (1) A copy of any periodic
                actuarial report (including sensitivity testing) received by the plan
                for any plan year which has been in the plan's possession for at least
                30 days; (2) a copy of any quarterly, semi-annual, or annual financial
                report prepared for the plan by any plan investment manager or advisor
                or other fiduciary that has been in the plan's possession for at least
                30 days; and (3) a copy of any application filed with the Secretary of
                the Treasury requesting an extension under section 304 of ERISA (or
                section 431(d) of the Internal Revenue Code of 1986) and the
                determination of such Secretary pursuant to such application.
                 The information collection provisions of this final regulation are
                found in 29 CFR 2520.101-6(a), which requires multiemployer defined
                benefit and defined contribution pension plan administrators to furnish
                copies of certain actuarial and financial documents to plan
                participants, beneficiaries, employee representatives, and contributing
                employers upon request.
                 This information constitutes a third-party disclosure from the
                administrator to participants, beneficiaries, employee representatives,
                and contributing employers for purposes of the PRA. Pursuant to Sec.
                2520.101-6(d)(5), the documents required to be disclosed shall not
                contain any information that the plan administrator reasonably
                determines to be either: (i) Individually identifiable information
                regarding any plan participant, beneficiary, employee, fiduciary, or
                contributing employer, except that such limitation shall not apply to
                an investment manager or adviser, or with respect to any other person
                (other than an employee of the plan) preparing a financial report
                described in paragraph Sec. 2520.101-6(c)(2); or (ii) proprietary
                information regarding the plan, any contributing employer, or entity
                providing services to the plan. The plan administrator must inform the
                requester if any such information is withheld. The Department has
                received approval from OMB for this ICR under OMB Control No. 1210-
                0131. The current approval is scheduled to expire on October 31, 2022.
                II. Focus of Comments
                 The Department is particularly interested in comments that:
                 Evaluate whether the collections of information are
                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
                collections 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., by
                permitting electronic submissions of responses.
                 Evaluate the effectiveness of the additional demographic
                questions.
                 Comments submitted in response to this notice will be summarized
                and/or included in the ICR for OMB approval of the information
                collection; they will also become a matter of public record.
                 Signed at Washington, DC, this 11th day of March, 2022.
                Ali Khawar,
                Acting Assistant Secretary, Employee Benefits Security Administration,
                U.S. Department of Labor.
                [FR Doc. 2022-05591 Filed 3-16-22; 8:45 am]
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