99-25208. Proposed Collection; Comment Request

[Federal Register Volume 64, Number 187 (Tuesday, September 28, 1999)]
[Notices]
[Page 52351]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-25208]


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DEPARTMENT OF LABOR

Employment Standards Administration


Proposed Collection; Comment Request

ACTION: Notice.

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SUMMARY: The Department of Labor, 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 (PRA95) (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 Employment Standards Administration is soliciting 
comments concerning the proposed extension collection of: Requirements 
of a Bona Fide Profit Sharing Plan or Trust; and Requirements of a Bona 
Fide Thrift or Savings Plan. A copy of the proposed information 
collection request can be obtained by contacting the office listed 
below in the ADDRESSES section of this notice.

DATES: Written comments must be submitted to the office listed in the 
ADDRESSES section below on or before November 29, 1999.

ADDRESSES: Ms. Patricia A. Forkel, U.S. Department of Labor, 200 
Constitution Ave., NW, Room S-3201, Washington, DC 20210, telephone 
[phone] (this is not a toll-free number), fax [phone].

SUPPLEMENTARY INFORMATION: 

I. Background

    Section 7(e)(3)(b) of the Fair Labor Standards Act (FLSA) permits 
the exclusion from an employee's regular rate of pay, payments on 
behalf of an employee to a ``bona fide'' profit-sharing plan, and a 
``bona fide'' thrift or savings plan. Regulations 29 CFR part 549 sets 
forth the requirements of a bona fide profit sharing plan or trust, and 
Regulations 29 CFR part 547 set forth the requirements of a bona fide 
thrift or savings plan. This clearance involves employer maintenance of 
records of such plans.

II. Review Focus

    The Department of Labor 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.

III. Current Actions

    The Department of Labor seeks the extension of approval to collect 
this information in order to determine whether a given thrift or 
savings plan or a profit sharing plan or trust is in compliance with 
section 7(e)(3). Please note that the recordkeeping requirements for 
the thrift or savings plans and the recordkeeping requirements for 
profit sharing plans are currently approved under separate OMB numbers. 
The requirements for thrift or savings plans are approved under OMB 
number 1215-0119, and the requirements for profit sharing plans are 
approved under OMB number 1215-0122. This information clearance request 
will combine the two recordkeeping requirements under OMB number 1215-
0119.
    Type of review: Extension.
    Agency: Employment Standards Administration.
    Title: Requirements of a Bona Fide Thrift or Savings Plan, and 
Requirements of a Bona Fide Profit Sharing Plan.
    OMB Number: 1215-0119.
    Affected Public: Business or other for-profit; Individuals or 
households; Not-for-profit institutions; State, Local or Tribal 
Government.
    Total Respondents: 1.924 million.
    Frequency: Recordkeeping only.
    Total Responses: 1.924 million.
    Estimated Total Burden Hours (Recordkeeping): 2.
    Total Burden Cost (capital/startup): $0.
    Total Burden Cost (operating/maintenance): $0.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for Office of Management and Budget 
approval of the information collection request; they will also become a 
matter of public record.

    Dated: September 21, 1999.
Margaret J. Sherrill,
Chief, Branch of Management Review and Internal Control, Division of 
Financial Management, Office of Management, Administration and 
Planning, Employment Standards Administration.
[FR Doc. 99-25208 Filed 9-27-99; 8:45 am]
BILLING CODE 4510-27-M