70160 Federal Register / Vol. 69, No. 231 / Thursday, December 2, 2004 / Notices 

program to provide the general public 

and Federal agencies with an 

opportunity to comment on proposed 

and continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 (PRA 

95). 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 

Employee Benefits Security 

Administration (EBSA) is soliciting 

comments concerning the extension 

without change of the information 

collection request (ICR) included in the 

suspension of pension benefits 

regulation issued pursuant to the 

authority of section 203(a)(3)(B) of the 

Employee Retirement Income Security 

Act of 1974 (ERISA), which governs the 

circumstances under which pension 

plans may suspend pension benefit 

payments to retirees who return to 

work, or of participants who continue to 

work beyond normal retirement age (29 

CFR 2530.203–3). 

A copy of the proposed information 

collection request (ICR) 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 

January 31, 2005.

ADDRESSES: Interested parties are 

invited to submit written comments 

regarding the collection of information. 

Send comments to Mr. Gerald B. 

Lindrew, Office of Policy and Research, 

U.S. Department of Labor, Employee 

Benefits Security Administration, 200 

Constitution Avenue, NW., Room N–

5647, Washington, DC 20210. 

Telephone: (202) 693–8410 Fax: (202) 

693–4745 (These are not toll-free 

numbers).

SUPPLEMENTARY INFORMATION:

I. Background 

Section 203(a)(3)(B) of ERISA governs 

the circumstances under which pension 

plans may suspend pension benefit 

payments to retirees that return to work 

or to participants that continue to work 

beyond normal retirement age. 

Furthermore, section 203(a)(3)(B) of 

ERISA authorizes the Secretary to 

prescribe regulations necessary to carry 

out the provisions of this section. 

In this regard, the Department issued 

a regulation which describes the 

circumstances and conditions under 

which plans may suspend the pension 

benefits of retirees that return to work, 

or of participants that continue to work 

beyond normal retirement age (29 CFR 

2530.203–3). In order for a plan to 

suspend benefits pursuant to the 

regulation, it must notify affected 

retirees or participants (by first class 

mail or personal delivery) during the 

first calendar month or payroll period in 

which the plan withholds payment, that 

benefits are suspended. This notice 

must include the specific reasons for 

such suspension, a general description 

of the plan provisions authorizing the 

suspension, a copy of the relevant plan 

provisions, and a statement indicating 

where the applicable regulations may be 

found, (i.e., 29 CFR 2530.203–3). In 

addition, the suspension notification 

must inform the retiree or participant of 

the plan’s procedure for affording a 

review of the suspension of benefits. 

II. Review Focus 

The Department of Labor 

(Department) is particularly interested 

in comments that: 

• 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 Office of Management and 

Budget’s approval of this ICR will expire 

on February 28, 2005. This notice 

requests comments on the extension of 

the ICR. The Department is not 

proposing or implementing changes to 

the existing ICR at this time in 

connection with this extension. 

Comments submitted in response to this 

notice will be summarized and/or 

included in the request for OMB 

approval of the information collection 

request; they will also become a matter 

of public record. 

AGENCY: Department of Labor, 

Employee Benefits Security 

Administration. 

Title: Suspension of Benefits 

Regulation pursuant to 29 CFR 

2530.203–3. 

Type of Review: Extension of a 

currently approved collection. 

OMB Number: 1210–0048. 

Affected Public: Individuals or 

households; business or other for-profit; 

not-for-profit institutions. 

Total Respondents: 74,872. 

Total Responses: 74,872. 

Frequency of Response: On occasion. 

Total Annual Burden: 18,718. 

Total Burden Cost (Operating and 

Maintenance): $63,000.

Dated: November 24, 2004. 

Gerald B. Lindrew, 

Deputy Director, Office of Policy and 

Research, Employee Benefits Security 

Administration.

[FR Doc. 04–26548 Filed 12–1–04; 8:45 am] 

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Employee Benefits Security 

Administration 

Proposed Extension of Information 

Collection Request Submitted for 

Public Comment and 

Recommendations; Prohibited 

Transaction Class Exemption 77–4

ACTION: Notice.

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 continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 (PRA 

95). 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 

Employee Benefits Security 

Administration (EBSA) is soliciting 

comments concerning the proposed 

extension of a currently approved 

collection of information, Class 

Exemption 77–4 for certain transactions 

between investment companies and 

employee benefit plans. 

A copy of the proposed information 

collection request (ICR) 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 

Federal Register / Vol. 69, No. 231 / Thursday, December 2, 2004 / Notices 70161

addresses section below on or before 

January 31, 2005.

ADDRESSES: Interested parties are 

invited to submit written comments 

regarding the collection of information. 

Send comments to Mr. Gerald B. 

Lindrew, Office of Policy and Research, 

U.S. Department of Labor, Employee 

Benefits Security Administration, 200 

Constitution Avenue, NW., Room N–

5647, Washington, DC 20210. 

Telephone: (202) 693–8410 Fax: (202) 

693–4745 (these are not toll-free 

numbers).

SUPPLEMENTARY INFORMATION: 

I. Background 

Without the relief provided by this 

exemption, an open-end mutual fund 

would be unable to sell shares to or 

purchase shares from a plan when the 

fiduciary with respect to the plan is also 

the investment advisor for the mutual 

fund. As a result, plans would be 

compelled to liquidate their existing 

investments involving such transactions 

and to amend their plan documents to 

establish new investment structures and 

policies. 

In order to insure that the exemption 

is not abused and that the rights of 

participants and beneficiaries are 

protected, the Department has included 

in the exemption three basic disclosure 

requirements. The first requires at the 

time of the purchase or sale of such 

mutual fund shares that the plan’s 

independent fiduciary receive a copy of 

the current prospectus issued by the 

open-end mutual fund and a full and 

detailed written statement of the 

investment advisory fees charges to or 

paid by the plan and the open-end 

mutual fund to the investment advisor. 

The second requires that the 

independent fiduciary approve in 

writing such purchases and sales. The 

third requires that the independent 

fiduciary, once notified of changes in 

the fees, re-approve in writing the 

purchase and sale of mutual fund 

shares. 

II. Review Focus 

The Department of Labor 

(Department) is particularly interested 

in comments that: 

• 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 Office of Management and 

Budget’s approval of this ICR will expire 

on February 28, 2005. This notice 

requests comments on the extension of 

the ICR. The Department is not 

proposing or implementing changes to 

the existing ICR at this time in 

connection with this extension. 

Comments submitted in response to this 

notice will be summarized and/or 

included in the request for OMB 

approval of the information collection 

request; they will also become a matter 

of public record. 

Agency: Department of Labor, 

Employee Benefits Security 

Administration. 

Title: Prohibited Transaction Class 

Exemption 77–4 for Certain 

Transactions Between Investment 

Companies and Employee Benefit Plans. 

Type of Review: Extension of 

currently approved collections. 

OMB Numbers: 1210–0049. 

Affected Public: Individuals or 

households; business or other for-profit; 

not-for-profit institutions. 

Total Respondents: 431. 

Total Responses: 82,000. 

Frequency of Response: On occasion. 

Average Time per Response: 5 

minutes. 

Total Annual Burden: 7,000 hour.

Dated: November 24, 2004. 

Gerald B. Lindrew, 

Deputy Director, Office of Policy and 

Research, Employee Benefits Security 

Administration.

[FR Doc. 04–26549 Filed 12–1–04; 8:45 am] 

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Employee Benefits Security 

Administration 

Proposed Extension of Information 

Collection Request Submitted for 

Public Comment; Prohibited 

Transaction Exemption 75–1 BrokerDealers, Reporting Dealers, Banks 

Engaging in Securities Transactions

AGENCY: Employee Benefits Security 

Administration, Department of Labor.

ACTION: Notice.

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 continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 (PRA 

95). 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 

Employee Benefits Security 

Administration is soliciting comments 

on the proposed extension of the 

information collection provisions of 

Prohibited Transaction Class Exemption 

75–1. 

A copy of the information collection 

request (ICR) can be obtained by 

contacting the individual shown in the 

ADDRESSES section of this notice.

DATES: Written comments must be 

submitted to the office shown in the 

ADDRESSES section on or before January 

31, 2005.

ADDRESSES: Gerald B. Lindrew, 

Department of Labor, Employee Benefits 

Security Administration, 200 

Constitution Avenue, NW., Washington, 

DC 20210, (202) 693–8410, fax (202) 

693–4745 (these are not toll-free 

numbers).

SUPPLEMENTARY INFORMATION: 

I. Background 

Prohibited Transaction Class 

Exemption 75–1 provides an exemption 

from prohibited transaction provisions 

of the Employment Retirement Income 

Security Act of 1974 (ERISA). The 

exemption permits, under certain 

conditions, an employee benefit plan to 

purchase securities from broker-dealers’

personal inventories of stocks, from 

underwriting syndicates in which a plan 

fiduciary is a member, from banks, from 

reporting dealers, and from a market 

makers even if a market-maker is a plan 

fiduciary. The exemption also permits, 

under certain conditions, a plan to 

accept an extension of credit from a 

broker-dealer for the purpose of 

facilitating settlement of a securities 

transaction. 

By requiring that records pertaining to 

the exempted transaction be maintained 

for six years, this ICR insures that the 

exemption is not abused, the rights of 

the participants and beneficiaries are