[Federal Register Volume 65, Number 15 (Monday, January 24, 2000)]
[Notices]
[Page 3741]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-1638]


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DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration


Proposed Extension of Information Collection; Comment Request; 
Prohibited Transaction Class Exemption 78-6

ACTION:  Notice.

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SUMMARY:  The Department of Labor (Department), 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) (44 U.S.C. 3506(c)(2)(A)). This 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 Benefits Administration is 
soliciting comments concerning the proposed extension of the 
information collection provisions of Prohibited Transaction Class 
Exemption 78-6. A copy of the Information Collection Request (ICR) may 
be obtained by contacting the office listed in the addresses section of 
this notice.

DATES:  Written comments must be submitted to the office shown in the 
addresses section below on or before March 24, 2000.

ADDRESSES:  Gerald B. Lindrew, Office of Policy and Research, U.S. 
Department of Labor, Pension and Welfare Benefits Administration, 200 
Constitution Avenue, NW, Room N-5647, Washington, D.C. 20210. 
Telephone: (202) 219-4782; Fax: (202) 219-4745. These are not toll-free 
numbers.

SUPPLEMENTARY INFORMATION:

I. Background

    Prohibited Transaction Class Exemption 78-6 allows a multiple 
employer welfare benefit plan maintained for the purpose of providing 
apprenticeship or other training programs (apprenticeship plan) to (1) 
purchase personal property and (2) lease personal property or real 
property (other than office space as described in section 408(b)(2) of 
the Employee Retirement Income Security Act of 1974 (ERISA)) from an 
employer who makes contributions to an apprenticeship plan 
(contributing employer), from a wholly-owned subsidiary of a 
contributing employer, or from an employee organization any of whose 
members' work results in contributions being made to the apprenticeship 
plan. In the absence of this exemption, sections 406(a)(1) (A), (C) and 
(D) of ERISA might prohibit part or all of these transactions.

II. Desired Focus of Comments

    The Department is particularly interested in comments that:
    <bullet> 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;
    <bullet> 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;
    <bullet> Enhance the quality, utility, and clarity of the 
information to be collected; and
    <bullet> 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 submission of responses.

III. Current Action

    This existing information collection should be continued because 
without this exemption, apprenticeship plans would have difficulty 
operating in accordance with the purposes for which they were 
established. For the Department to grant an exemption, however, it is 
required by the provisions of section 408(a) of ERISA to ensure the 
participants and beneficiaries are protected. It, therefore, included 
certain conditions and required that records be kept for six years from 
the date of the transaction so that the Department, contributing 
employers and their employees, the sponsoring employee organization, 
and plan participants can determine whether these conditions have been 
met. Without such records, the Department and other interested parties 
would be unable to enforce the terms of the exemption and ensure user 
compliance.
    Type of Review: Extension of a currently approved collection of 
information.
    Agency: Pension and Welfare Benefits Administration, Department of 
Labor
    Titles: Prohibited Transaction Class Exemption 78-6
    OMB Number: 1210-0080
    Affected Public: Individuals or households; Business or other for-
profit; Not-for-profit institutions
    Estimated Total Burden Hours: 417
    Respondents: 1,000
    Frequency of Response: On occasion.
    Responses: 5,000.
    Annual hour burden: 5 minutes.
    Total Burden Cost (Operating and Maintenance): $0.00.
    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.

    Dated: January 19, 2000.
Gerald B. Lindrew,
Deputy Director, Office of Policy and Research Pension and Welfare 
Benefits Administration.
[FR Doc. 00-1638 Filed 1-21-00; 8:45 am]
BILLING CODE 4510-29-M