Federal Register / Vol. 72, No. 67 / Monday, April 9, 2007 / Notices 17587 

in principal transactions from or to 

broker-dealers in Coins that are 

‘‘authorized purchasers’’ of Coins in 

bulk quantities from the United States 

Mint and which are also ‘‘disqualified 

persons,’’ within the meaning of Code 

section 4975(e)(2), with respect to IRAs. 

The exemption also describes the 

circumstances under which an interestfree extension of credit in connection 

with such sales and purchases is 

permitted. In the absence of an 

exemption, such purchases and sales 

and extensions of credit would be 

impermissible under the Employee 

Retirement Income Security Act of 1974 

(ERISA). 

Among other conditions, the 

exemption requires certain information 

related to covered transactions in Coins 

must be disclosed by the authorized 

purchaser to persons who direct the 

transaction for the IRA. Currently, it is 

standard industry practice that most of 

this information is provided to persons 

directing investments in an IRA when 

transactions in Coins occur. The 

exemption also requires that the 

disqualified person maintain for a 

period of at least six years such records 

as are necessary to allow accredited 

persons, as defined in the exemption, to 

determine whether the conditions of the 

transaction have been met. Finally, an 

authorized purchaser must provide a 

confirmation statement with respect to 

each covered transaction to the person 

who directs the transaction for the IRA. 

The requirements constitute information 

collections within the meaning of the 

PRA, for which the Department has 

obtained approval from the Office of 

Management and Budget (OMB) under 

OMB Control No. 1210–0079. The OMB 

approval is currently scheduled to 

expire on July 31, 2007. 

The recordkeeping requirement 

facilitates the Department’s ability to 

make findings under section 408 of 

ERISA and section 4975(c) of the Code. 

The confirmation and disclosure 

requirements protect a participant or 

beneficiary who invests in IRAs and 

transacts in Coins with authorized 

purchasers by providing the investor or 

the person directing his or her 

investments with timely information 

about the market in Coins and about the 

individual’s account in particular. 

II. Current Actions 

This notice requests public comment 

pertaining to the Department’s request 

for extension of OMB approval of the 

information collection contained in PTE 

91–55. After considering comments 

received in response to this notice, the 

Department intends to submit an ICR to 

OMB for continuing approval. No 

change to the existing ICR is proposed 

or made at this time. An agency may not 

conduct or sponsor, and a person is not 

required to respond to, an information 

collection unless it displays a valid 

OMB control number. A summary of the 

ICR and the current burden estimates 

follows: 

Agency: Employee Benefits Security 

Administration, Department of Labor. 

Title: Prohibited Transaction Class 

Exemption 91–55. 

Type of Review: Extension of a 

currently approved collection of 

information. 

OMB Number: 1210–0079. 

Affected Public: Individuals or 

households; Business or other for-profit; 

Not-for-profit institutions. 

Respondents: 2. 

Responses: 12,800. 

Frequency: On occasion. 

Estimated Total Burden Hours: 554 

hours. 

Estimated Total Burden Cost: $0. 

III. Focus of Comments 

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., by permitting electronic 

submissions of responses. 

Comments submitted in response to 

this notice will be summarized and/or 

included in the ICR for OMB approval 

of the extension of the information 

collection; they will also become a 

matter of public record. 

Dated: April 3, 2007. 

Bradford P. Campbell, 

Acting Assistant Secretary, Employee Benefits 

Security Administration. 

[FR Doc. E7–6552 Filed 4–6–07; 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 Class Exemption 92–6—

Sale of Individual Life Insurance or 

Annuity Contracts by a Plan 

AGENCY: Employee Benefits Security 

Administration, Department of Labor. 

ACTION: Notice. 

SUMMARY: The Department of Labor (the 

Department), in accordance with the 

Paperwork Reduction Act of 1995 (PRA 

95) (44 U.S.C. 3506(c)(2)(A)), provides 

the general public and Federal agencies 

with an opportunity to comment on 

proposed and continuing collections of 

information. This helps the Department 

assess the impact of its information 

collection requirements and minimize 

the reporting burden on the public and 

helps the public understand the 

Department’s information collection 

requirements and provide the requested 

data in the desired format. Currently, 

the Employee Benefits Security 

Administration is soliciting comments 

on the proposed extension of the 

information collection provisions of 

Prohibited Transaction Class Exemption 

92–6. 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 on or before June 8, 

2007. 

ADDRESSES: Joseph S. Piacentini, 

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 92–6 exempts from the 

prohibited transaction restrictions of the 

Employee Retirement Security Act of 

1974 (ERISA) the sale of individual life 

insurance or annuity contracts by a plan 

to participants, relatives of participants, 

employers any of whose employees are 

covered by the plan, other employee 

benefit plans, owner-employees or 

shareholder-employees. In the absence 

of this exemption, certain aspects of 

these transactions might be prohibited 

by section 406 of ERISA. 


sroberts on PROD1PC70 with NOTICES
17588 Federal Register / Vol. 72, No. 67 / Monday, April 9, 2007 / Notices 

Among other conditions, PTE 92–6 

requires that pension plans inform the 

insured participant of a proposed sale of 

a life insurance or annuity policy to the 

employer, a relative, another plan, an 

owner-employee, or a shareholderemployee. This recordkeeping 

requirement constitutes an information 

collection within the meaning of the 

PRA, for which the Department has 

obtained approval from the Office of 

Management and Budget (OMB) under 

OMB Control No. 1210–0063. The OMB 

approval is currently scheduled to 

expire on July 31, 2007. 

II. Current Actions 

This notice requests public comment 

pertaining to the Department’s request 

for extension of OMB approval of the 

information collection contained in PTE 

92–6. After considering comments 

received in response to this notice, the 

Department intends to submit an ICR to 

OMB for continuing approval. No 

change to the existing ICR is proposed 

or made at this time. An agency may not 

conduct or sponsor, and a person is not 

required to respond to, an information 

collection unless it displays a valid 

OMB control number. A summary of the 

ICR and the current burden estimates 

follows: 

Agency: Employee Benefits Security 

Administration, Department of Labor. 

Title: Prohibited Transaction Class 

Exemption 92–6. 

Type of Review: Extension of a 

currently approved collection of 

information. 

OMB Number: 1210–0063. 

Affected Public: Individuals or 

households; Business or other for-profit; 

Not-for-profit institutions. 

Respondents: 8,360. 

Responses: 8,360. 

Estimated Total Burden Hours: 1,671. 

Estimated Total Burden Cost 

(Operating and Maintenance): $3,093. 

III. Focus of Comments 

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., by permitting electronic 

submissions of responses. 

Comments submitted in response to 

this notice will be summarized and/or 

included in the ICR for OMB approval 

of the extension of the information 

collection; they will also become a 

matter of public record. 

Dated: April 3, 2007. 

Bradford P. Campbell, 

Acting Assistant Secretary, Employee Benefits 

Security Administration. 

[FR Doc. E7–6553 Filed 4–6–07; 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; Final Rule on Health 

Care Continuation Coverage 

AGENCY: Employee Benefits Security 

Administration, Department of Labor. 

ACTION: Notice. 

SUMMARY: The Department of Labor (the 

Department), in accordance with the 

Paperwork Reduction Act of 1995 (PRA 

95) (44 U.S.C. 3506(c)(2)(A)), provides 

the general public and Federal agencies 

with an opportunity to comment on 

proposed and continuing collections of 

information. This helps the Department 

assess the impact of its information 

collection requirements and minimize 

the reporting burden on the public and 

helps the public understand the 

Department’s information collection 

requirements and provide the requested 

data in the desired format. Currently, 

the Employee Benefits Security 

Administration is soliciting comments 

on the proposed extension of the 

information collection provisions of its 

final rule at 29 CFR Part 2590, Health 

Care Continuation Coverage. 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 on or before June 8, 

2007. 

ADDRESSES: Joseph S. Piacentini, 

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 

The continuation coverage provisions 

of section 601 through 608 of ERISA 

(and parallel provisions of the Internal 

Revenue Code (Code)) generally require 

group health plans to offer qualified 

beneficiaries’ the opportunity to elect 

continuation coverage following certain 

events that would otherwise result in 

the loss of coverage. Continuation 

coverage is a temporary extension of the 

qualified beneficiary’s previous group 

health coverage. The right to elect 

continuation coverage allows 

individuals to maintain group health 

coverage under adverse circumstances 

and to bridge gaps in health coverage 

that otherwise could limit their access 

to health care. 

COBRA provides the Secretary of 

Labor (the Secretary) with authority 

under section 608 of ERISA to carry out 

the continuation coverage provisions. 

The Conference Report that 

accompanied COBRA divided 

interpretive authority over the COBRA 

provisions between the Secretary and 

the Secretary of the Treasury (the 

Treasury) by providing that the 

Secretary has the authority to issue 

regulations implementing the notice and 

disclosure requirements of COBRA, 

while the Treasury is authorized to 

issue regulations defining the required 

continuation coverage. 

On May 26, 2004, the Department of 

Labor (the Department) published in the 

Federal Register (69 FR 30084) final 

regulations governing the timing, 

content, and administration of the 

notice obligations arising under ERISA. 

These final rules implementing the 

notice requirements of the COBRA 

provisions of ERISA also apply for 

purposes of the parallel Code 

provisions. 

This recordkeeping requirement 

constitutes an information collection 

within the meaning of the PRA, for 

which the Department has obtained 

approval from the Office of Management 

and Budget (OMB) under OMB Control 

No. 1210–0123. The OMB approval is 

currently scheduled to expire on July 

31, 2007. 

II. Current Actions 

This notice requests public comment 

pertaining to the Department’s request 

for extension of OMB approval of the 

information collection contained in its 

final rule at 29 CFR 2590, Health Care 

Continuation Coverage. After 

considering comments received in 


sroberts on PROD1PC70 with NOTICES