Federal Register / Vol. 63, No. 127 /Thursday, July 2, 1998 / Notices 36265

Benefits Administration is soliciting

comments concerning the proposed

extension of a currently approved

collection of information, ERISA

Technical Release 91–1. A copy of the

proposed information collection of

information (ICR) can be obtained by

containing the individual listed below

in the contact section of this notice.

DATES: Written comments must be

submitted on or before August 31, 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,

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

SUPPLEMENTARY INFORMATION:

I. Background

ERISA section 101(e) sets forth certain

notice requirements which must be

satisfied before an employer may

transfer excess assets from a defined

benefit plan to a retiree health benefit

account as otherwise permissible after

satisfying the conditions set forth in

section 420 of the Internal Revenue

Code of 1986, as amended (Code).

Section 101(e)(1) describes the plan

administrator’s obligation to provide

advance written notification of such

transfers to participants and

beneficiaries. Section 101(e)(2)(A)

describes the employer’s obligation to

provide advance written notification to

the Secretaries of Labor and Treasury,

the administrator, and each employee

organization representing participants

in the plan. The ICR included in ERISA

Technical Release 91–1 provides

guidance on the type of information to

be provided in the notices to both the

participants and beneficiaries and the

Secretaries.

II. Current Actions

The advance notice requirements with

respect to transfers of excess assets from

defined benefit plans to retiree health

benefit account are specifically

established in ERISA section 101(e). The

provisions of ERISA Technical Release

91–1 are intended to assist plan

sponsors in complying with these

statutory requirements and to ensure

that plan participants and beneficiaries

receive information concerning

transactions that may affect their

benefits. As such, the Pension and

Welfare Benefits Administration intends

to request an extension of this ICR

beyond its September 30, 1998,

expiration date.

Type of Review: Extension.

Agency: Department of Labor, Pension

and Welfare Benefits Administration.

Title: ERISA Technical Release 91–1.

OMB Number: 1210–0084.

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

Individuals.

Total Respondents: 40.

Frequency: On occasion.

Total Responses: 140,000.

Estimated Total Burden Hours: 3,540.

Comments submitted in response to

this notice will be summarized and/or

included in the requested for Office of

Management and Budget approval of the

information collection request; they will

also become a matter of public record.

Dated: June 26, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and

Research, Pension and Welfare Benefits

Administration.

[FR Doc. 98–17566 Filed 7–1–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Information Collection

Request Submitted for Public

Comment and Recommendations;

Prohibited Transaction Class

Exemption 81–6

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 81–6. 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 August 31, 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

clarify 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,

DC 20210, (202) 219–4782 (this is not a

toll-free number), FAX (202) 219–4745.

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Class

Exemption 81–6 permits an employee

benefit plan to lend securities to a

broker-dealer registered under the

Securities Exchange Act of 1934 or to a

bank, provided certain conditions are

met. In the absence of an exemption,

securities lending transactions would be

prohibited under circumstances where

the borrowing broker-dealer or bank is

a party in interested or disqualified

person with respect to the plan under
36266 Federal Register / Vol. 63, No. 127 /Thursday, July 2, 1998 / Notices

the Employee Retirement Income

Security Act (ERISA) or the Internal

Revenue Code (Code).

II. Current Actions

This existing collection of information

should be continued because without

the relief provided by this exemption,

securities lending transactions would be

prohibited under circumstances where

the borrowing broker-dealer or bank is

a party in interest or disqualified person

with respect to the plan under the

Employee Retirement Income Security

Act (ERISA) or the Internal Revenue

Code (Code). The recordkeeping

requirements incorporated within the

class exemption are intended to protect

the interests of plan participants and

beneficiaries. The class exemption has

two basic information collection

requirements. The first requires the

borrower of the plan securities to report

certain information to the lending plan

fiduciary, and the second calls for a

written agreement between the lending

plan and the borrower.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction Class

Exemption 81–6.

OMB Number: 1210–0065.

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

Individuals.

Total Respondents: 18,245.

Frequency: On occasion.

Total Responses: 36,490.

Average Time Per Response: 5

minutes.

Estimated Total Burden Hours: 3,041.

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 26, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and Research

Pension and Welfare Benefits Administration.

[FR Doc. 98–17567 Filed 7–1–98; 8:45 am]

BILLING CODE 4510–29–M

DPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Information Collection

Request Submitted for Public

Comment and Recommendations;

Prohibited Transaction Exemption

T88–1

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 Exemption T88–1. A copy

of the proposed information collection

request (ICR) 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 August 31, 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

clarify 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,

DC 20210, (202) 219–4782 (this is not a

toll-free number), FAX (202) 219–4745.

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Exemption

T88–1 adopts, for purposes of the

prohibited transaction provisions of

section 8477(c)(2) of the Federal

Employees’ Retirement System Act of

1986 (FERSA), certain prohibited

transaction class exemptions (the Class

Exemptions) granted pursuant to section

408(a) of the Employee Income Security

Act of 1974.

II. Current Actions

This existing collection of information

should be continued because without

the relief provided by this exemption,

certain transactions described in the

Class Exemptions might be prohibited

by the prohibited transaction provisions

of FERSA. The recordkeeping

requirements incorporated within the

class exemption are intended to protect

the interests of plan participants and

beneficiaries.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction

Exemption T88–1.

OMB Number: 1210–0074.

Affected Public: Business or other forprofit institutions, Individuals.

Total Respondents: 1.

Frequency: On occasion.

Total Responses: 1.

Average Time Per Response: 1 hour.

Estimated Total Burden Hours: 1

hour.

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 26, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and

Research, Pension and Welfare Benefits

Administration.

[FR Doc. 98–17568 Filed 7–1–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Information Collection

Request Submitted for Public

Comment and Recommendations;

Final Regulation Relating to Loans to

Plan Participants and Beneficiaries

Who Are Parties in Interest With

Respect to the Plan

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