Federal Register / Vol. 63, No. 119 / Monday, June 22, 1998 / Notices 33961

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 a

currently approved collection of

information, Class Exemption 77–4 for

certain transactions between investment

companies and employee benefit plans.

A copy of the proposed information

collection request (ICR) can be obtained

by contacting the office listed below in

the ADDRESSES section of this notice.

DATES: Written comments must be

submitted to the office listed in the

ADDRESSES section below on or before

August 21, 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, D.C. 20210.

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

a toll-free number).

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Class

Exemption 77–4 permits the purchase

and sale by an employee benefit plan of

shares of a registered, open-end

investment company (mutual fund)

when a fiduciary with respect to the

plan (e.g., investment manager) is also

the investment advisor for the

investment company. In absence of the

exemption, certain aspects of these

transactions might be prohibited by

section 406 of the Employee Retirement

Income Security Act (ERISA).

II. Current Actions

The Office of Management and

Budget’s approval of this ICR will expire

on September 30, 1998. This existing

collection of information should be

continued because without the relief

provided by this exemption, an openend mutual fund could not sell shares

to or purchase shares from a plan when

the fiduciary with respect to the plan is

also the investment advisor for the

mutual fund. As a result, plans would

be compelled to liquidate their existing

investments involving such transactions

and establish new investment structures

and policies, and amend their plan

documents.

In order to insure that the exemption

is not abused and that the rights of

participants and beneficiaries are

protected, the Department has included

in the exemption two basic disclosure

requirements. The first is intended to

put the plan on notice of possible fees

associated with the redemption of openend mutual fund shares. It requires

disclosure of any redemption fees in the

current prospectus of the open-end

mutual fund (the prospectus in effect at

the time of the plan’s acquisition or

disposal of such shares). The second

requires at the time of the purchase or

sale of such mutual fund shares that the

plan’s independent fiduciary receive a

copy of the current prospectus issued by

the open-end mutual fund and a full

and detailed written statement of the

investment advisory fees charged to or

paid by the plan and the open-end

mutual fund to the investment advisor.

Agency: Department of Labor, Pension

and Welfare Benefits Administration.

Title: Class Exemption 77–4 for

Certain Transactions Between

Investment Companies and Employee

Benefit Plans.

Type of Review: Extension of a

currently approved collection.

OMB Numbers: 1210–0049.

Affected Public: Individuals or

households; Business or other for-profit;

Not-for-profit institutions.

Total Respondents: 624.

Total Responses: 46,800.

Frequency of Response: On occasion.

Total Annual Burden: 4,212 hours.

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 17, 1998.

Gerald B. Lindrew,

Deputy Director, Pension and Welfare

Benefits Administration, Office of Policy and

Research.

[FR Doc. 98–16555 Filed 6–19–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Working Group Studying Retirement

Plan Leakage—Cashing in Your Future

From ERISA Employer-Sponsored

Pension Plans Advisory Council on

Employee Welfare and Pension

Benefits Plans; Notice of Meeting

Pursuant to the authority contained in

Section 512 of the Employee Retirement

Income Security Act of 1974 (ERISA), 29

U.S.C. 1142, a public meeting will be

held on Wednesday, July 8, 1998, of the

Retirement Plan Leakage—Cashing in

Your Future—Working Group of the

Advisory Council on Employee Welfare

and Pension Benefit Plans. The group is

studying pre-retirement distributions,

including in-service distributions,

hardship loans and participant loans

from ERISA employer-sponsored

pension plans. The purpose of the open meeting,

which will run from 9:30 a.m. to

approximately noon in Room N–4437

C&D, U.S. Department of Labor

Building, Second and Constitution

Avenue NW, Washington, D.C. 20210, is

for Working Group members to continue

gathering statistical information and/or

to take additional testimony on the

import of these ‘‘pension preservation’’

issues.

Members of the public are encouraged

to file a written statement pertaining to

the topic by submitting 20 copies on or

before July 2, 1998, to Sharon Morrissey,

Executive Secretary, ERISA Advisory

Council, U.S. Department of Labor,

Room N–5677, 200 Constitution

Avenue, NW, Washington, D.C. 20210.

Individuals or representatives of

organizations wishing to address the

Working Group should forward their

request to the Executive Secretary or

telephone (202) 219–8753. Oral

presentations will be limited to 10

minutes, but an extended statement may
33962 Federal Register / Vol. 63, No. 119 / Monday, June 22, 1998 / Notices

be submitted for the record. Individuals

with disabilities, who need special

accommodations, should contact Sharon

Morrissey by July 2, 1998, at the address

indicated in this notice.

Organizations or individuals also may

submit statements for the record

without testifying. Twenty (20) copies of

such statements should be sent to the

Executive Secretary of the Advisory

Council at the above address. Papers

will be accepted and included in the

record of the meeting if received on or

before July 2.

Signed at Washington, D.C. this 16th day

of June, 1998.

Olena Berg,

Assistant Secretary, Pension and Welfare

Benefits Administration.

[FR Doc. 98–16562 Filed 6–19–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Working Group Studying Small

Businesses: How To Enhance and

Encourage the Establishment of

Pension Plans, Advisory Council on

Employee Welfare and Pension

Benefits Plans; Notice of Meeting

Pursuant to the authority contained in

Section 512 of the Employee Retirement

Income Security Act of 1974 (ERISA), 29

U.S.C. 1142, a public meeting will be

held Tuesday, July 7, 1998, of the

Advisory Council on Employee Welfare

and Pension Benefit Plans Working

Group studying the obstacles to why

small businesses are not establishing

retirement vehicles for their employees

when so many different savings

arrangements are available. The

Working Group also is focusing on how

to encourage these businesses to

establish such pension plans.

The session will take place in Room

N–4437 C&D, U.S. Department of Labor

Building, Second and Constitution

Avenue, NW, Washington, D.C. 20210.

The purpose of the open meeting, which

will run from 1:00 p.m. to

approximately 3:30 p.m., is for Working

Group members to continue taking

testimony on the topic.

Members of the public are encouraged

to file a written statement pertaining to

the topic by submitting 20 copies on or

before July 2, 1998, to Sharon Morrissey,

Executive Secretary, ERISA Advisory

Council, U.S. Department of Labor,

Room N–5677, 200 Constitution

Avenue, NW, Washington, D.C. 20210.

Individuals or representatives of

organizations wishing to address the

Working Group should forward their

request to the Executive Secretary or

telephone (202) 219–8753. Oral

presentations will be limited to 10

minutes, but an extended statement may

be submitted for the record. Individuals

with disabilities who need special

accommodations, should contact Sharon

Morrissey by July 2, at the address

indicated in this notice.

Organizations or individuals may also

submit statements for the record

without testifying. Twenty (20) copies of

such statements should be sent to the

Executive Secretary of the Advisory

Council at the above address. Papers

will be accepted and included in the

record of the meeting if received on or

before July 2.

Signed at Washington, D.C. this 16th day

of June, 1998.

Olena Berg,

Assistant Secretary, Pension and Welfare

Benefits Administration.

[FR Doc. 98–16563 Filed 6–19–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Working Group on the Disclosure of

the Quality of Care in Health Plans

Advisory Council on Employee Welfare

and Pension Benefits Plans; Notice of

Meeting

Pursuant to the authority contained in

Section 512 of the Employee Retirement

Income Security Act of 1974 (ERISA), 29

U.S.C. 1142, the Working Group

established by the Advisory Council on

Employee Welfare and Pension Benefit

Plans to study what kind of information

on the quality of care in health plans

should be transmitted to fiduciaries and

participants and how the information

should be transmitted will hold an open

public meeting on Tuesday, July 7,

1998, in Room N–4437 C&D, U.S.

Department of Labor Building, Second

and Constitution Avenue, NW.,

Washington, DC 20210.

The purpose of the open meeting,

which will run from 9:30 a.m. to

approximately noon, is for Working

Group members to continue taking

testimony on the topic.

Members of the public are encouraged

to file a written statement pertaining to

the topic by submitting 20 copies on or

before July 2, 1998, to Sharon Morrissey,

Executive Secretary, ERISA Advisory

Council, U.S. Department of Labor,

Room N–5677, 200 Constitution

Avenue, NW., Washington, DC 20210.

Individuals or representatives of

organizations wishing to address the

Working Group should forward their

request to the Executive Secretary or

telephone (202) 219–8753. Oral

presentations will be limited to 10

minutes, but an extended statement may

be submitted for the record. Individuals

with disabilities, who need special

accommodations, should contact Sharon

Morrissey by July 2, at the address

indicated in this notice.

Organizations or individuals may also

submit statements for the record

without testifying. Twenty (20) copies of

such statements should be sent to the

Executive Secretary of the Advisory

Council at the above address. Papers

will be accepted and included in the

record of the meeting if received on or

before July 2.

Signed at Washington, DC, this 16th day of

June, 1998.

Olena Berg,

Assistant Secretary, Pension and Welfare

Benefits Administration.

[FR Doc. 98–16564 Filed 6–19–98; 8:45 am]

BILLING CODE 4510–29–M

NATIONAL ARCHIVES AND RECORDS

ADMINISTRATION

Agency Information Collection

Activities: Submission for OMB

Review; Comment Request

AGENCY: National Archives and Records

Administration (NARA).

ACTION: Notice.

SUMMARY: NARA is giving public notice

that the agency has submitted to OMB

for approval the information collection

described in this notice. The public is

invited to comment on the proposed

information collection pursuant to the

Paperwork Reduction Act of 1995.

DATES: Written comments must be

submitted to OMB at the address below

on or before July 22, 1998 to be assured

of consideration.

ADDRESSES: Comments should be sent

to: Office of Information and Regulatory

Affairs, Office of Management and

Budget, Attn: Ms. Maya Bernstein, Desk

Officer for NARA, Washington, DC

20503.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the proposed information

collection and supporting statement

should be directed to Tamee Fechhelm

at telephone number 301–713–6730 or

fax number 301–713–6913.

SUPPLEMENTARY INFORMATION: Pursuant

to the Paperwork Reduction Act of 1995

(Pub. L. 104–13), NARA invites the

general public and other Federal