44386 Federal Register / Vol. 74, No. 166 / Friday, August 28, 2009 / Notices 

Administration, Office of Workforce 

Security, 200 Constitution Avenue, 

NW., Frances Perkins Bldg., Room S– 

4531, Washington, DC 20210, telephone 

number (202)-693–3215 (this is not a 

toll-free number) or by e-mail: 

dean.nancy@dol.gov. 

SUPPLEMENTARY INFORMATION: 

I. Background: Section 303(a)(1) of the 

Social Security Act requires a state’s 

unemployment insurance (UI) law to 

include provisions for: 

‘‘Such methods of administration * * * as 

are found by the Secretary of Labor to be 

reasonably calculated to insure full payment 

of unemployment compensation when due 

* * *’’ 

Section 303(a)(5) of the Social 

Security Act further requires a state’s UI 

law to include provisions for: 

‘‘Expenditure of all money withdrawn from 

an unemployment fund of such State, in the 

payment of unemployment compensation 

* * *’’ 

Section 3304(a)(4) of the Internal 

Revenue Code of 1954 provides that: 

‘‘all money withdrawn from the 

unemployment fund of the State shall be 

used solely in the payment of unemployment 

compensation * * *’’ 

The Secretary of Labor has interpreted 

the above sections of Federal law in 

section 7511, part V, ES Manual to 

further require a State’s UI law to 

include provisions for such methods of 

administration as are, within reason, 

calculated to: (1) Detect benefits paid 

through error by the State Workforce 

Agency (SWA) or through willful 

misrepresentation or error by the 

claimant or others; (2) deter claimants 

from obtaining benefits through willful 

misrepresentation; and (3) recover 

benefits overpaid. The ETA 227 is used 

to determine whether SWAs meet these 

requirements. 

The ETA–227 contains data on the 

number and amounts of fraud and nonfraud overpayments established, the 

methods by which overpayments were 

detected, the amounts and methods by 

which overpayments were collected, the 

amounts of overpayments waived and 

written off, the accounts receivable for 

overpayments outstanding, and data on 

criminal/civil actions. 

These data are gathered by 53 SWAs 

and reported to the Department of Labor 

following the end of each calendar 

quarter. The overall effectiveness of 

SWAs’ UI integrity efforts can be 

determined by examining and analyzing 

the data. These data are also used by 

SWAs as a management tool for 

effective UI program administration. 

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 UI program 

paid approximately $42 billion in 

benefits in 2008. Although the 

overpayment rate (fraud and non-fraud) 

derived from the ETA 227 is relatively 

low (less than 3.25 percent), high 

amounts of money are involved, and it 

is in the national interest to maintain 

the program’s integrity. Therefore, we 

are proposing to extend the 

authorization to collect data to measure 

the effectiveness of the benefit payment 

control programs in the SWAs. 

Type of Review: Extension. 

Agency: Employment and Training 

Administration. 

Title: Overpayment Detection and 

Recovery Activities. 

OMB Number: 1205–0173. 

Agency Form Number: ETA 227. 

Affected Public: State Government. 

Total Respondents: 53 State agencies. 

Frequency: Quarterly. 

Total Responses: 212. 

Average Time per Response: 14 hours. 

Estimated Total Burden Hours: 2,968. 

Total Burden Cost (operating/ 

maintaining): $0. 

Comments submitted in response to 

this comment request 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: This 20th day of August 2009. 

Jane Oates. 

[FR Doc. E9–20779 Filed 8–27–09; 8:45 am] 

P 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

147th Meeting of the Advisory Council 

on Employee Welfare and Pension 

Benefit Plans; Notice of Meeting 

Pursuant to the authority contained in 

Section 512 of the Employee Retirement 

Income Security Act of 1974 (ERISA), 29 

U.S.C. 1142, the 147th open meeting of 

the Advisory Council on Employee 

Welfare and Pension Benefit Plans will 

be held on September 15–17, 2009. 

The three-day meeting will take place 

in Room N 3437 A&B, U.S. Department 

of Labor, 200 Constitution Avenue NW., 

Washington, DC 20210. The meeting 

will run from 9 a.m. to approximately 5 

p.m. on September 15 and 16, and from 

8 a.m. to approximately 4 p.m. on 

September 17, with a one hour break for 

lunch each day. The purpose of the 

open meeting is for Council members to 

hear testimony from invited witnesses 

and to receive an update from the 

Employee Benefits Security 

Administration (EBSA). 

The Council will study the following 

issues: (1) Promoting Retirement 

Literacy and Security by Streamlining 

Disclosures to Participants and 

Beneficiaries, (2) Stable Value Funds 

and Retirement Security in the Current 

Economic Conditions, and (3) 

Approaches for Retirement Security in 

the United States. The schedule for 

testimony and discussion of these issues 

generally will be one issue per day in 

the order noted above. Descriptions of 

these topics are available on the 

Advisory Council page of the EBSA Web 

site at http://www.dol.gov/ebsa/ 

aboutebsa/erisa_advisory_council.html. 

The EBSA update is scheduled for 

September 16 at 9 a.m., subject to 

change. 

Organizations or members of the 

public wishing to submit a written 

statement may do so by submitting 30 

copies on or before September 8, 2009 

to Larry Good, Executive Secretary, 

ERISA Advisory Council, U.S. 

Department of Labor, Suite N–5623, 200 

Constitution Avenue, NW., Washington, 

DC 20210. Statements also may be 

submitted as e-mail attachments in text 

or pdf format transmitted to 

good.larry@dol.gov. It is requested that 

statements not be included in the body 

of the e-mail. Relevant statements 

received on or before September 8, 2009 

will be included in the record of the 

meeting. Individuals or representatives 

of organizations wishing to address the 

Advisory Council should forward their 

requests to the Executive Secretary or 


hsrobinson on DSK69SOYB1PROD with NOTICES
Federal Register / Vol. 74, No. 166 / Friday, August 28, 2009 / Notices 44387 

1The ‘‘Underwriter Exemptions’’ are a group of 

individual exemptions that provide substantially 

identical relief for the operation of certain assetbacked or mortgage-backed investment pools and 

the acquisition and holding by Plans of certain 

securities representing interests in those investment 

pools. 

2Section 102 of Reorganization Plan No. 4 of 

1978 (5 U.S.C. App. 1 [1996]) generally transferred 

the authority of the Secretary of the Treasury to 

issue exemptions under section 4975(c)(2) of the 

Code to the Secretary of Labor. 

telephone (202) 693–8668. Oral 

presentations will be limited to ten 

minutes, time permitting, but an 

extended statement may be submitted 

for the record. Individuals with 

disabilities who need special 

accommodations should contact Larry 

Good by September 8 at the address 

indicated. 

Signed at Washington, DC this 24th day of 

August 2009. 

Phyllis C. Borzi, 

Assistant Secretary, Employee Benefits 

Security Administration. 

[FR Doc. E9–20794 Filed 8–27–09; 8:45 am] 

BILLING CODE 4510–29–P 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

Notice of a Proposed Amendment to 

Prohibited Transaction Exemption 

(PTE) 96–22, 61 FR 14828 (April 3, 

1996), as Amended by PTE 97–34, 62 

FR 39021 (July 21, 1997), PTE 2000–58, 

65 FR 67765 (November 13, 2000), PTE 

2002–41, 67 FR 54487 (August 22, 

2002) and PTE 2007–05, 72 FR 13130 

(March 20, 2007) as Corrected at 72 FR 

16385 (April 4, 2007) (PTE 2007–05), 

(PTE 96–22), Involving the Wachovia 

Corporation and Its Affiliates 

(Wachovia), the Successor of First 

Union Corporation and PTE 2002–19, 

67 FR 14979 (March 28, 2002), as 

Amended by PTE 2007–05 (PTE 2002– 

19), Involving J.P. Morgan Chase & 

Company and Its Affiliates (D–11530) 

AGENCY: Employee Benefits Security 

Administration, Department of Labor. 

ACTION: Notice of a Proposed 

Amendment to PTE 96–22 and PTE 

2002–19. 

SUMMARY: This document contains a 

notice of pendency before the 

Department of Labor (the Department) of 

a proposed amendment to PTE 96–22 

and PTE 2002–19, Underwriter 

Exemptions.1 The Underwriter 

Exemptions are individual exemptions 

that provide relief for the origination 

and operation of certain asset pool 

investment trusts and the acquisition, 

holding and disposition by employee 

benefit plans (Plans) of certain assetbacked pass-through certificates 

representing undivided interests in 

those investment trusts. The proposed 

amendment to PTE 96–22 and PTE 

2002–19, if granted, would provide a 

six-month period to resolve certain 

affiliations, as a result of the Wells 

Fargo & Company (WFC) acquisition of 

Wachovia, between Wells Fargo Bank, 

N.A. (Wells Fargo) the Trustee, and 

Wachovia as members of the Restricted 

Group, as those terms are defined in the 

Underwriter Exemptions (the Proposed 

Amendment). The Proposed 

Amendment, if granted, would affect the 

participants and beneficiaries of the 

Plans participating in such transactions 

and the fiduciaries with respect to such 

Plans. 

DATE: Written comments and requests 

for a hearing should be received by the 

Department by September 28, 2009. 

ADDRESSES: All written comments and 

requests for a public hearing (preferably, 

three copies) should be sent to the 

Office of Exemption Determinations, 

Employee Benefits Security 

Administration, Room N–5700, U.S. 

Department of Labor, 200 Constitution 

Avenue, NW., Washington, DC 20210, 

(Attention: Exemption Application 

Number D–11530). Interested persons 

are invited to submit comments and/or 

hearing requests to the Department by 

the end of the scheduled comment 

period either by facsimile to (202) 219– 

0204 or by electronic mail to 

moffitt.betty@dol.gov. The application 

pertaining to the Proposed Amendment 

(Application) and the comments 

received will be available for public 

inspection in the Public Disclosure 

Room of the Employee Benefits Security 

Administration, U.S. Department of 

Labor, Room N–1513, 200 Constitution 

Avenue, NW., Washington, DC 20210. 

FOR FURTHER INFORMATION CONTACT: 

Wendy M. McColough of the 

Department, telephone (202) 693–8540. 

(This is not a toll-free number.) 

SUPPLEMENTARY INFORMATION: This 

document contains a notice of pendency 

before the Department of a proposed 

exemption to amend PTE 96–22 and 

PTE 2002–19, Underwriter Exemptions. 

The Underwriter Exemptions are a 

group of individual exemptions granted 

by the Department that provide 

substantially identical relief from 

certain of the restrictions of sections 406 

and 407 of the Employee Retirement 

Income Security Act of 1974 (ERISA or 

the Act) and from the taxes imposed by 

sections 4975(a) and (b) of the Internal 

Revenue Code of 1986, as amended 

(Code), by reason of certain provisions 

of section 4975(c)(1) of the Code for the 

operation of certain asset pool 

investment trusts and the acquisition, 

holding, and disposition by Plans of 

certain asset-backed pass-through 

certificates representing undivided 

interests in those investment trusts. 

All of the Underwriter Exemptions 

were amended by PTE 97–34, 62 FR 

39021 (July 21, 1997), PTE 2000–58, 65 

FR 67765 (November 13, 2000), and PTE 

2007–05, 72 FR 13130 (March 20, 2007), 

as corrected at 72 FR 16385 (April 4, 

2007). Certain of the Underwriter 

Exemptions were amended by PTE 

2002–41, 67 FR 54487 (August 22, 2002) 

or modified by PTE 2002–19. 

The Department is proposing this 

amendment to PTE 96–22 and PTE 

2002–19 pursuant to section 408(a) of 

the Act and section 4975(c)(2) of the 

Code, and in accordance with the 

procedures set forth in 29 CFR Part 

2570, Subpart B (55 FR 32836, 32847, 

August 10, 1990).2

1. The Underwriter Exemptions 

permit Plans to invest in pass-through 

securities representing undivided 

interests in asset-backed or mortgagebacked investment pools (Securities). 

The Securities generally take the form of 

certificates issued by a trust (Trust). The 

Underwriter Exemptions permit 

transactions involving a Trust, 

including the servicing, management 

and operation of the Trust, and the sale, 

exchange or transfer of Securities 

evidencing interests therein, in the 

initial issuance of the Securities or in 

the secondary market for such Securities 

(the Covered Transactions). The most 

recent amendment to the Underwriter 

Exemptions is PTE 2007–05, 72 FR 

13130 (March 20, 2007), as corrected at 

72 FR 16385 (April 4, 2007) (PTE 2007– 

05). One of the General Conditions of 

the Underwriter Exemptions, as 

amended, requires that the Trustee not 

be an ‘‘Affiliate’’ of any member of the 

‘‘Restricted Group’’ other than an 

‘‘Underwriter.’’ PTE 2007–05, 

subsection II.A.(4). The term ‘‘Restricted 

Group’’ is defined under section III.M. 

as: (1) Each Underwriter; (2) Each 

Insurer; (3) The Sponsor; (4) The 

Trustee; (5) Each Servicer; (6) Any 

Obligor with respect to obligations or 

receivables included in the Issuer 

constituting more than 5 percent of the 

aggregate unamortized principal balance 

of the assets in the Issuer, determined 

on the date of the initial issuance of 

Securities by the Issuer; (7) Each 

counterparty in an Eligible Swap 

Agreement; or (8) Any Affiliate of a 

person described in subsections 

III.M.(1)–(7).’’ The term ‘‘Servicer’’ is 

defined to include ‘‘the Master Servicer 

and any Subservicer.’’ PTE 2007–05, 


hsrobinson on DSK69SOYB1PROD with NOTICES