98-17566. Proposed Extension of Information Collection Request Submitted for Public Comment and Recommendations; Employee Retirement Income Security Act of 1974 (ERISA) Technical Release 91-1

[Federal Register Volume 63, Number 127 (Thursday, July 2, 1998)]
[Notices]
[Pages 36264-36265]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-17566]


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DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration


Proposed Extension of Information Collection Request Submitted 
for Public Comment and Recommendations; Employee Retirement Income 
Security Act of 1974 (ERISA) Technical Release 91-1

ACTION: Notice.

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SUMMARY: The Department of Labor, as part of its continuing effort to 
reduce paperwork and respondent burden, provides 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 (PRA 95) (44 U.S.C. 3506(c)(2)(A)). This program 
helps to ensure that requested data can be provided in the desired 
format, reporting burden (time and financial resources) is minimized, 
collection instruments are clearly understood, and the impact of 
collection requirements on respondents can be properly assessed. 
Currently, the Pension and Welfare

[[Page 36265]]

Benefits Administration is soliciting comments concerning the proposed 
extension of a currently approved collection of information, ERISA 
Technical Release 91-1. A copy of the proposed information collection 
of information (ICR) can be obtained by containing the individual 
listed below in the contact section of this notice.

DATES: Written comments must be submitted on or before August 31, 1998.
    The Department of Labor (Department) is particularly interested in 
comments which:
     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 submissions of responses.

ADDRESSES: Gerald B. Lindrew, Department of Labor, Pension and Welfare 
Benefits Administration, 200 Constitution Avenue, NW, Washington, DC 
20210, [phone] (not a toll-free number), FAX [phone].

SUPPLEMENTARY INFORMATION:

I. Background

    ERISA section 101(e) sets forth certain notice requirements which 
must be satisfied before an employer may transfer excess assets from a 
defined benefit plan to a retiree health benefit account as otherwise 
permissible after satisfying the conditions set forth in section 420 of 
the Internal Revenue Code of 1986, as amended (Code). Section 101(e)(1) 
describes the plan administrator's obligation to provide advance 
written notification of such transfers to participants and 
beneficiaries. Section 101(e)(2)(A) describes the employer's obligation 
to provide advance written notification to the Secretaries of Labor and 
Treasury, the administrator, and each employee organization 
representing participants in the plan. The ICR included in ERISA 
Technical Release 91-1 provides guidance on the type of information to 
be provided in the notices to both the participants and beneficiaries 
and the Secretaries.

II. Current Actions

    The advance notice requirements with respect to transfers of excess 
assets from defined benefit plans to retiree health benefit account are 
specifically established in ERISA section 101(e). The provisions of 
ERISA Technical Release 91-1 are intended to assist plan sponsors in 
complying with these statutory requirements and to ensure that plan 
participants and beneficiaries receive information concerning 
transactions that may affect their benefits. As such, the Pension and 
Welfare Benefits Administration intends to request an extension of this 
ICR beyond its September 30, 1998, expiration date.
    Type of Review: Extension.
    Agency: Department of Labor, Pension and Welfare Benefits 
Administration.
    Title: ERISA Technical Release 91-1.
    OMB Number: 1210-0084.
    Affected Public: Business or other for-profit, Not-for-profit 
institutions, Individuals.
    Total Respondents: 40.
    Frequency: On occasion.
    Total Responses: 140,000.
    Estimated Total Burden Hours: 3,540.
    Comments submitted in response to this notice will be summarized 
and/or included in the requested for Office of Management and Budget 
approval of the information collection request; they will also become a 
matter of public record.

    Dated: June 26, 1998.
Gerald B. Lindrew,
Deputy Director, Office of Policy and Research, Pension and Welfare 
Benefits Administration.
[FR Doc. 98-17566 Filed 7-1-98; 8:45 am]
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