33094 Federal Register / Vol. 63, No. 116 /Wednesday, June 17, 1998 / Notices

PLACE: Room 101, 500 E Street S.W.,

Washington, DC 20436.

STATUS: Open to the public.

MATTERS TO BE CONSIDERED:

1. Agenda for future meeting: none.

2. Minutes.

3. Ratification List.

4. Inv. No. 731–TA–698 (Final)

(Remand) (Magnesium from Ukraine)—

briefing and vote.

5. Outstanding action jackets: none.

In accordance with Commission

policy, subject matter listed above, not

disposed of at the scheduled meeting,

may be carried over to the agenda of the

following meeting.

By order of the Commission:

Issued: June 11, 1998.

Donna R. Koehnke,

Secretary.

[FR Doc. 98–16201 Filed 6–15–98; 10:27 am]

BILLING CODE 7020–02–P

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Extension of Information

Collection Request Submitted for

Public Comment and

Recommendations

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden

conducts a preclearance consultation

program to provide the general public

and other 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

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

the collection of information included

in the alternative method of compliance

for certain simplified employee

pensions regulation issued pursuant to

the authority of section 110 of the

Employee Retirement Income Security

Act of 1974 (ERISA) which authorizes

the Secretary to prescribe an alternative

method of compliance with the

reporting and disclosure requirements

of Title I of ERISA for certain simplified

pension plans as described in section

408(k) of the Internal Revenue Code of

1986 (the Code), as amended (29 CFR

2520.104–49). A copy of the proposed

information collection request (ICR) can

be obtained by contacting the office

listed below in the addressee section of

this notice.

DATES: Written comments must be

submitted to the office listed in the

addressee section below on or before

August 17, 1998. 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 validity of the

methodology and assumptions used;

• Enhance the quality, utility, and

clarity of the information to be

collected;

• 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.

ADDRESSES: Interested parties are

invited to submit written comments

regarding the collection of information

of any or all of the Agencies. Send

comments to Mr. 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, DC 20210.

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

a toll-free number).

SUPPLEMENTARY INFORMATION:

I. Background

Section 110 of ERISA authorizes the

Secretary to prescribe alternative

methods of compliance with the

reporting and disclosure requirements

of Title I of ERISA for pension plans.

Simplified employee pensions (SEPs)

are established in section 408(k) of the

Code. Although SEPs are primarily a

development of the Code subject to its

requirements, SEPs are also pension

plans subject to the reporting and

disclosure requirements of Title I of

ERISA.

The Department previously issued a

regulation under the authority of section

110 of ERISA (29 CFR 2520.104–49) that

intended to relieve sponsors of certain

SEPs from ERISA’s Title I reporting and

disclosure requirements by prescribing

an alternative method of compliance.

These SEPs are, for purposes of this

Notice, referred to as ‘‘non-model’’ SEPs

because they exclude those SEPs which

are created through use of Internal

Revenue Service (IRS) Form 5305–SEP,

and those SEPs in which the employer

influences the employees as to the

choice of IRAs to which employer

contributions will be made and

prohibits withdrawals by participants.

The disclosure requirements in this

regulation were developed in

conjunction with the Internal Revenue

Service (IRS Notice 81–1). Accordingly,

sponsors of ‘‘non-model’’ SEPs who

satisfy the limited disclosure

requirements of the regulation are

relieved from otherwise applicable

reporting and disclosure requirements

under Title I of ERISA, including the

requirements to file annual reports

(Form 5500 Series) with the

Department, and to furnish summary

plan descriptions (SPDs) and summary

annual reports (SARs) to participants

and beneficiaries.

This ICR includes specific aspects of

the limited disclosure requirements for

eligible ‘‘non-model’’ SEPs. The ICR

generally requires timely written

disclosure to employees eligible to

participant in ‘‘non-model’’ SEPs,

including specific information

concerning: Participation requirements;

allocation formulas for employer

contributions; designated contact

persons for further information; and for

employer recommended IRAs, specific

terms of the IRAs such as rates of return

and any restrictions on withdrawals.

Moreover, general information is

required that provides a clear

explanation of: the operation of the

‘‘non-model’’ SEP; participation

requirements and any withdrawal

restrictions; and the tax treatment of the

SEP-related IRA. Furthermore,

statements must be provided that inform

participants of: any other IRAs under

‘‘non-model’’ SEP other than that to

which employer contributions are made;

any options regarding rollovers and

contributions to other IRAs;

descriptions of IRS disclosure

requirements to participants and

information regarding social security

integration (if applicable); and timely

notification of any amendments to the

terms of the ‘‘non-model’’ SEP.

II. Current Actions

The Office of the Management and

Budget’s approval of this ICR will expire

on September 30, 1998. The existing
Federal Register / Vol. 63, No. 116 /Wednesday, June 17, 1998 / Notices 33095

collection of information should be

continued because the alternative

disclosure arrangement provided

through this regulation relieves

sponsors of ‘‘non-model’’ SEPs of most

of the reporting and disclosure

requirements under Title I of ERISA.

Also, the disclosure requirements set

forth in this regulation, insure that

administrators of ‘‘non-model’’ SEPs

provide participants with specific

written information concerning SEPs.

Agency: Department of Labor, Pension

and Welfare Benefits Administration.

Title: Alternative Method of

Compliance for Certain SEPs pursuant

to 29 CFR 2520.104–49.

Type of Review: Extension of a

currently approved collection.

OMB Numbers: 1210–0034.

Affected Public: Individuals or

households; Business or other for-profit;

Not-for-profit institutions.

Total Respondents: 1,393.

Total Responses: 1,393.

Frequency of Response: On occasion.

Total Annual Burden: 116 hours.

Comments submitted in response to

this comment request 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: June 10, 1998.

Gerald B. Lindrew,

Deputy Director, Pension and Welfare

Benefits Administration Office of Policy and

Research.

[FR Doc. 98–16088 Filed 6–16–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Extension of Information

Collection Request Submitted for

Public Comment and

Recommendations; Summary Annual

Report Requirement Under the

Employee Retirement Income Security

Act of 1974 (ERISA)

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, the Summary

Annual Report Requirement under the

Employee Retirement Income Security

Act of 1974 (ERISA). A copy of the

proposed information collection request

can be obtained by contacting the

individual listed below in the contact

section of this notice.

DATES: Written comments must be

submitted on or before August 17, 1998.

The Department of Labor

(Department) 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 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, Washington,

D.C. 20210, (202) 219–4782 (not a tollfree number), FAX (202) 219–4745.

SUPPLEMENTARY INFORMATION:

I. Background

Section 104(b)(3) of ERISA and

regulations published in 29 CFR

2520.104b–10 require, with certain

exceptions, that administrators of

employee benefit plans furnish

participants and beneficiaries annually

with material which fairly summarizes

the information included in the plan’s

latest annual report. The regulation

prescribes the format for the summary

annual report (SAR), and requires that

the SAR be provided within nine

months after the close of the plan year.

The SAR is required to be provided to

plan participants and beneficiaries to

ensure that they are informed

concerning the financial operation and

condition of their plans. These

disclosures to plan participants assist

the Department in its enforcement

responsibilities by providing

participants with sufficient information

to exercise their rights under ERISA.

II. Current Actions

The Department of Labor, Pension

and Welfare Benefits Administration,

intends to request that the Office of

Management and Budget extend the

approval of the ICR included in the SAR

regulation published at 29 CFR

2520.104b–10 beyond its September 30,

1998 expiration date. The basic

requirement for summarizing the annual

report for participants is established by

ERISA section 104(b)(3), while the

regulation offers specific guidance on

the statutory requirement so that

participants may be adequately and

timely informed concerning the

financial operation and condition of

their benefit plans.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: ERISA Summary Annual Report

Requirement.

OMB Number: 1210–0040.

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

Individuals.

Total Respondents: 794,205.

Frequency: Annually.

Total Responses: 222,320,138.

Estimated Total Burden Hours:

5,878,021.

Total Annual Cost (operating and

maintenance): $83.7 million.

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: June 11, 1998.

Gerald B. Lindrew,

Deputy Director, Pension and Welfare

Benefits Administration, Office of Policy and

Research.

[FR Doc. 98–16089 Filed 6–16–98; 8:45 am]

BILLING CODE 4510–29–M

NATIONAL FOUNDATION ON THE

ARTS AND THE HUMANITIES

National Endowment for the Arts,

Combined Arts Panel

Pursuant to Section 10(a)(2) of the

Federal Advisory Committee Act (Public

Law 92–463, as amended, notice is