5578 Federal Register / Vol. 89, No. 19 / Monday, January 29, 2024 / Notices 

1This report encompasses laws enacted between 

January 3, 2023 at noon and January 3, 2024 at 

11:55 a.m. (Pub. L. 117–329 through Pub. L. 118– 

34). 

2References to years on the PAYGO scorecards 

are to fiscal years. 

DEPARTMENT OF LABOR 

Agency Information Collection 

Activities; Submission for OMB 

Review; Comment Request; Improving 

Investment Advice for Workers & 

Retirees Prohibited Transaction 

Exemption 

ACTION: Notice of availability; request 

for comments. 

SUMMARY: The Department of Labor 

(DOL) is submitting this Employee 

Benefits Security Administration 

(EBSA)-sponsored information 

collection request (ICR) to the Office of 

Management and Budget (OMB) for 

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 February 28, 2024. 

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 DOL_PRA_

PUBLIC@dol.gov. 

SUPPLEMENTARY INFORMATION: The 

proposed exemption would allow 

investment advice fiduciaries under 

both ERISA and the Code to receive 

compensation, including as a result of 

advice to roll over assets from a Plan to 

an IRA, and engage in principal 

transactions, that would otherwise 

violate the prohibited transaction 

provisions of ERISA and the Code. The 

exemption would apply to registered 

investment advisers, broker-dealers, 

banks, insurance companies, and their 

employees, agents, and representatives 

that are investment advice fiduciaries. 

The exemption would include 

protective conditions designed to 

safeguard the interests of Plans, 

participants and beneficiaries, and IRA 

owners. The new class exemption 

would affect participants and 

beneficiaries of Plans, IRA owners, and 

fiduciaries with respect to such Plans 

and IRAs. For additional substantive 

information about this ICR, see the 

related notice published in the Federal 

Register on August 25, 2023 (88 FR 

58312). 

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. 

DOL seeks PRA authorization for this 

information collection for three (3) 

years. OMB authorization for an ICR 

cannot be for more than three (3) years 

without renewal. The DOL notes that 

information collection requirements 

submitted to the OMB for existing ICRs 

receive a month-to-month extension 

while they undergo review. 

Agency: DOL–EBSA. 

Title of Collection: Improving 

Investment Advice for Workers & 

Retirees Prohibited Transaction 

Exemption. 

OMB Control Number: 1210–0163. 

Affected Public: Individuals or 

households. 

Total Estimated Number of 

Respondents: 18,259. 

Total Estimated Number of 

Responses: 3,259,765. 

Total Estimated Annual Time Burden: 

994,301 hours. 

Total Estimated Annual Other Costs 

Burden: $104,639. 

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

Michael Howell, 

Senior Paperwork Reduction Act Analyst. 

[FR Doc. 2024–01662 Filed 1–26–24; 8:45 am] 

BILLING CODE 4510–29–P 

OFFICE OF MANAGEMENT AND 

BUDGET 

Notice; 2023 Statutory Pay-As-You-Go 

Act Annual Report 

AGENCY: Office of Management and 

Budget (OMB). 

ACTION: Notice. 

SUMMARY: This report is being published 

as required by the Statutory Pay-AsYou-Go (PAYGO) Act of 2010. The Act 

requires that OMB issue an annual 

report and a sequestration order, if 

necessary. 

FOR FURTHER INFORMATION CONTACT: Erin 

O’Brien. 202–395–3106. 

SUPPLEMENTARY INFORMATION: This 

report can be found at https://

www.whitehouse.gov/omb/paygo/. 

Authority: 2 U.S.C. 934. 

Kelly A. Kinneen, 

Assistant Director for Budget. 

This Report is being published 

pursuant to section 5 of the Statutory 

Pay-As-You-Go (PAYGO) Act of 2010, 

Public Law 111–139, 124 Stat. 8, 2 

U.S.C. 934, which requires that OMB 

issue an annual PAYGO report, 

including a sequestration order if 

necessary, no later than 14 working days 

after the end of a congressional session. 

This Report describes the budgetary 

effects of all PAYGO legislation enacted 

during the first session of the 118th 

Congress and presents the 5-year and 

10-year PAYGO scorecards maintained 

by OMB.1 Because neither the 5-year 

nor 10-year scorecard shows a debit for 

the budget year, which for purposes of 

this Report is fiscal year 2024,2 a 

sequestration order under subsection 

5(b) of the PAYGO Act, 2 U.S.C 934(b) 

is not required. 

The budget year balance on each of 

the PAYGO scorecards is zero because 

the Consolidated Appropriations Act, 

2023 (Pub. L. 117–328) shifted the 

debits on both scorecards from fiscal 

year 2024 to fiscal year 2025. The 

change directed by Public Law 117–328 

is discussed in more detail in section IV 

of this report. 

During the first session of the 118th 

Congress, no laws with PAYGO effects 

were enacted with emergency 

requirements under section 4(g) of the 

PAYGO Act, 2 U.S.C. 933(g), though as 

discussed later in this report, one law 

was enacted that rescinded funding that 

received an emergency designation 


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