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[Federal Register Volume 88, Number 199 (Tuesday, October 17, 2023)]
[Notices]
[Pages 71608-71609]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-22833]

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DEPARTMENT OF LABOR

Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Registration Requirements To Serve as a Pooled 
Plan Provider to Pooled Employer Plans

ACTION: Notice of availability; request for comments.

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SUMMARY: The Department of Labor (DOL) is submitting this Employee 
Benefits Security Administration (EBS)-sponsored information collection 
request (ICR) to the Office of Management and Budget (OMB) for

[[Page 71609]]

review and approval in accordance with the Paperwork Reduction Act of 
1995 (PRA). Public comments on the ICR are invited.

DATES: The OMB will consider all written comments that the agency 
receives on or before November 16, 2023.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    Comments are invited on: (1) whether the collection of information 
is necessary for the proper performance of the functions of the 
Department, including whether the information will have practical 
utility; (2) the accuracy of the agency's estimates of the burden and 
cost of the collection of information, including the validity of the 
methodology and assumptions used; (3) ways to enhance the quality, 
utility and clarity of the information collection; and (4) ways to 
minimize the burden of the collection of information on those who are 
to respond, including the use of automated collection techniques or 
other forms of information technology.

FOR FURTHER INFORMATION CONTACT: Michael Howell by telephone at 202-
693-6782, or by email at [email protected].

SUPPLEMENTARY INFORMATION: The Setting Every Community Up for 
Retirement Enhancement Act of 2019 (the SECURE Act) was designed to 
improve retirement coverage as well as the ability of individuals to 
manage important retirement-related risks. Specifically, the Secure Act 
requires Section 101 of the SECURE Act requires a ``pooled plan 
provider'' to register with the Labor Department and the Treasury 
Department before beginning operations as a pooled plan provider. 
Specifically, Section 101 of the SECURE Act amends section 3(2) of the 
Employee Retirement Income Security Act (ERISA) to eliminate the 
commonality of interest requirement for establishing certain individual 
account plans, or ``pooled employer plans,'' that meet specific 
requirements. Among these requirements, plans must designate a ``pooled 
plan provider'' to serve as a named fiduciary and as the plan 
administrator. Further, section 101 of the SECURE Act requires pooled 
plan providers to register with the Department of Labor (the 
Department) and the Department of the Treasury (Treasury) before 
beginning operations. The statute expressly provides a separate 
authorization for the Department to require additional information. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on February 8, 2023 (88 FR 
8317).
    This information collection is subject to the PRA. A Federal agency 
generally cannot conduct or sponsor a collection of information, and 
the public is generally not required to respond to an information 
collection, unless the OMB approves it and displays a currently valid 
OMB Control Number. In addition, notwithstanding any other provisions 
of law, no person shall generally be subject to penalty for failing to 
comply with a collection of information that does not display a valid 
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
    Agency: DOL-EBS.
    Title of Collection: Registration Requirements to Serve as a Pooled 
Plan Provider to Pooled Employer Plans.
    OMB Control Number: 1210-0164.
    Affected Public: Businesses or other for-profits.
    Total Estimated Number of Respondents: 1,660.
    Total Estimated Number of Responses: 2,813.
    Total Estimated Annual Time Burden: 1,676 hours.
    Total Estimated Annual Other Costs Burden: $0.

(Authority: 44 U.S.C. 3507(a)(1)(D))

Michael Howell,
Senior Paperwork Reduction Act Analyst.
[FR Doc. 2023-22833 Filed 10-16-23; 8:45 am]
BILLING CODE 4510-29-P
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