Federal Register / Vol. 62, No. 147 / Thursday, July 31, 1997 / Notices 41087

persons on request. Without the

recordkeeping requirement, the

Department, which may only grant an

exemption if it can find that participants

and beneficiaries are protected, would

be unable to effectively enforce the

terms of the exemption and insure user

compliance.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction Class

Exemption 80–83.

OMB Number: 1210–0064.

Affected Public: Business or other forprofit, Not-for-profit institutions,

Individuals.

Frequency: On occasion.

Estimated Total Burden Hours: 1.

Respondents, proposed frequency of

response, and annual hour burden: The

number of respondents is estimated to

be 25. The exemption contains a six

year recordkeeping requirement for

information related to the affected

securities transactions. Most of the

records required to be maintained by the

exemption are normally maintained for

purposes of completing the annual

report required by ERISA (Form 5500

Series). Those records not maintained

for purposes related to the annual report

are maintained as a standard business

practice or for purposes of complying

with the Internal Revenue Code. The

Department estimates one additional

hour of burden for this exemption.

Total Burden Cost (capital/start-up):

$0.00.

Total Burden Cost (operating/

maintenance): $0.00.

Comments submitted in response to

this notice 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: July 25, 1997.

Gerald B. Lindrew,

Director, Pension and Welfare Benefits

Administration, Office of Policy and

Legislative Analysis.

[FR Doc. 97–20102 Filed 7–30–97; 8:45 am]

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Information Collection

Request Submitted for Public

Comment and Recommendations;

Prohibited Transaction Class

Exemption 75–1

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

provides the general public and Federal

agencies with an opportunity to

comment on proposed and/or

continuing collections of information in

accordance with the Paperwork

Reduction Act of 1995 (PRA 95) [44

U.S.C. 3506(c)(2)(A)]. 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 Pension and Welfare

Benefits Administration is soliciting

comments concerning the proposed

extension of a currently approved

collection of information, Prohibited

Transaction Class Exemption 75–1. A

copy of the proposed information

collection request can be obtained by

contacting the employee listed below in

the contact section of this notice.

DATES: Written comments must be

submitted on or before September 29,

1997. 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 number of respondents

and 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.

ADDRESSES: Gerald B. Lindrew,

Department of Labor, Pension and

Welfare Benefits Administration, 200

Constitution Avenue, NW, Room N–

5647, Washington, DC 20210.

Telephone: 202–219–4782 (this is not a

toll-free number). Fax: 202–219–4745.

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Class

Exemption 75–1 permits banks,

registered broker-dealers and reporting

dealers in Government securities who

are parties in interest to engage in

certain kinds of securities transactions

with plans. In the absence of this

exemption, these transactions might be

prohibited by section 406 of the

Employee Retirement Income Security

Act of 1974 (the Act).

II. Current Actions

The Pension and Welfare Benefits

Administration proposes to extend the

currently approved information

collection requirements of Prohibited

Transaction Class Exemption 75–1. The

recordkeeping requirements of the class

exemption are intended to protect the

interests of plan participants and

beneficiaries. The exemption has one

basic information collection condition.

The plan is to maintain for a period of

six years from the date of a covered

transaction such records as are

necessary to enable the Department of

Labor, the Internal Revenue Service,

plan participants and beneficiaries, any

employer of plan participants and

beneficiaries, and any employee

organization any of whose members are

covered by such plan to determine

whether the conditions of the

exemption have been met.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction Class

Exemption 75–1.

OMB Number: 1210–0092.

Affected Public: Business or other forprofit, Not-for-profit institutions,

Individuals.

Frequency: On occasion.

Estimated Total Burden Hours: 1.

Respondents, proposed frequency of

response, and annual hour burden: The

number of respondents is estimated to

be 750. The exemption contains a six

year recordkeeping requirement for

information related to the affected

securities transactions. This information

would normally be maintained in

connection with required reporting for

the annual financial report (Form 5500

and 5500–C). The Department estimates

that the recordkeeping burden of this

class exemption, in effect, has been

incorporated in the burden for Form

5500 (and 5500–C). Since this

information has been approved for the

Form 5500 (and 5500–C), we estimate

one additional hour of burden for this

exemption.

Total Burden Cost (capital/start-up):

$0.00.

Total Burden Cost (operating/

maintenance): $0.00.

Comments submitted in response to

this notice will be summarized and/or
41088 Federal Register / Vol. 62, No. 147 / Thursday, July 31, 1997 / Notices

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: July 25, 1997.

Gerald B. Lindrew,

Director, Pension and Welfare Benefits

Administration, Office of Policy and

Legislative Analysis.

[FR Doc. 97–20103 Filed 7–30–97; 8:45 am]

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Information Collection

Request Submitted for Public

Comment and Recommendations;

Prohibited Transaction Class

Exemption 88–59

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

provides the general public and Federal

agencies with an opportunity to

comment on proposed and/or

continuing collections of information in

accordance with the Paperwork

Reduction Act of 1995 (PRA 95) [44

U.S.C. 3506(c)(2)(A)]. 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 Pension and Welfare

Benefits Administration is soliciting

comments concerning the proposed

extension of a currently approved

collection of information, Prohibited

Transaction Class Exemption 88–59. A

copy of the proposed information

collection request can be obtained by

contacting the employee listed below in

the contact section of this notice.

DATES: Written comments must be

submitted on or before September 29,

1997.

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 number of respondents

and 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.

ADDRESSES: Gerald B. Lindrew,

Department of Labor, Pension and

Welfare Benefits Administration, 200

Constitution Avenue, NW, Room N–

5647, Washington, DC 20210.

Telephone: 202–219–4782 (this is not a

toll-free number). Fax: 202–219–4745.

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Class

Exemption 88–59 exempts from certain

prohibited transaction provisions of

ERISA, certain transactions involving

residential financing arrangements. In

the absence of this exemption, these

transactions might be prohibited by

section 406 of the Employee Retirement

Income Security Act of 1974 (the Act).

II. Current Actions

The Pension and Welfare Benefits

Administration proposes to extend the

currently approved information

collection requirements of Prohibited

Transaction Class Exemption 88–59.

The recordkeeping requirements of the

class exemption are intended to protect

the interests of plan participants and

beneficiaries. The exemption has one

basic information collection condition.

The plan is to maintain for a period of

six years from the date of a covered

transaction such records as are

necessary to enable the Department of

Labor, the Internal Revenue Service,

plan participants and beneficiaries, any

employer of plan participants and

beneficiaries, and any employee

organization any of whose members are

covered by such plan to determine

whether the conditions of the

exemption have been met.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction Class

Exemption 88–59.

OMB Number: 1210–0095.

Affected Public: Business or other forprofit, Not-for-profit institutions,

Individuals.

Frequency: On occasion.

Estimated Total Burden Hours: 1.

Respondents, proposed frequency of

response, and annual hour burden: The

number of respondents is estimated to

be 185. The exemption contains a six

year recordkeeping requirement for

information related to the affected

securities transactions. Most of the

records required to be maintained by the

exemption are normally maintained for

purposes of completing the annual

report required by ERISA (Form 5500

Series). Those records not maintained

for purposes related to the annual report

are maintained as a standard business

practice or for purposes of complying

with the Internal Revenue Code. We

estimate one additional hour of burden

for this exemption.

Total Burden Cost (capital/start-up):

$0.00.

Total Burden Cost (operating/

maintenance): $0.00.

Comments submitted in response to

this notice 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: July 25, 1997.

Gerald B. Lindrew,

Director, Pension and Welfare Benefits

Administration, Office of Policy and

Legislative Analysis.

[FR Doc. 97–20104 Filed 7–30–97; 8:45 am]

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

[Prohibited Transaction Exemption 97–

35; Exemption Application No. D–

10192, et al.]

Grant of Individual Exemptions;

ILGWU National Retirement Fund

AGENCY: Pension and Welfare Benefits

Administration, Labor.

ACTION: Grant of individual exemptions.

SUMMARY: This document contains

exemptions issued by the Department of

Labor (the Department) from certain of

the prohibited transaction restrictions of

the Employee Retirement Income

Security Act of 1974 (the Act) and/or

the Internal Revenue Code of 1986 (the

Code).

Notices were published in the Federal

Register of the pendency before the

Department of proposals to grant such

exemptions. The notices set forth a

summary of facts and representations

contained in each application for

exemption and referred interested

persons to the respective applications