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
Federal Register / Vol. 63, No. 127 /Thursday, July 2, 1998 / Notices 36267

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, that is

included in the final regulation relating

to loans to plan participants and

beneficiaries who are parties in interest

with respect to the plan (29 CFR

§ 2550.408b–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

The Employee Retirement Income

Security Act of 1974 (ERISA) prohibits

a fiduciary with respect to a plan from

causing the plan to engage in the direct

or indirect lending of money or other

extension of credit between the plan a

party in interest. ERISA section

408(b)(1) exempts loans made by a plan

to parties in interest who are

participants and beneficiaries of the

plan from this prohibition provided that

certain requirements are satisfied. One

such requirement is that loans to

participants must be made in

accordance with specific provisions

regarding such loans set forth in the

plan. In final regulations published in

the Federal Register on July 20, 1989

(54 FR 30520), the Department of Labor

provided additional guidance on section

408(b)(1)(C), which requires that loans

must be made in accordance with

specific provisions set forth in the plan.

This ICR relates to the specific

provisions which must be included in

plan documents for those plans which

permit loans to participants.

II. Current Actions

This existing collection of information

should be continued because it ensures

that participants and beneficiaries are

provided with adequate information

with respect to matters affecting their

benefits. This ICR also provides

additional guidance concerning the

statutory requirement that loans to

participants be made in accordance with

specific written plan provisions.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Final Regulation Relating to

Loans to Plan Participants and

Beneficiaries who are Parties in Interest

with Respect to the Plan.

OMB Number: 1210–0076.

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

Individuals.

Total Respondents: 7,000.

Frequency: On occasion.

Total Responses: 7,000.

Average Time Per Response: 3 hours.

Estimated Total Burden Hours: 5,250.

Total Burden Cost (operating/

maintenance): $393,750.00.

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: June 26, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and

Research, Pension and Welfare Benefits

Administration.

[FR Doc. 98–17569 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 Exemption 91–

55

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 91–55. 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