Bona Fide Thrift or Savings Plan -- 29 CFR Part 547

ICR 199809-1215-004

OMB: 1215-0119

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
13786
Migrated
ICR Details
1215-0119 199809-1215-004
Historical Active 199506-1215-016
DOL/ESA
Bona Fide Thrift or Savings Plan -- 29 CFR Part 547
Extension without change of a currently approved collection   No
Regular
Approved without change 11/18/1998
Retrieve Notice of Action (NOA) 09/22/1998
Approved for 18 months consistent with clarification in DOL memo of 11-10-98. This collection is an ideal candidate for the Administration's initiative on streamlining regulations. Since firms collect this information as a necessity for providing these savings and thrift plans there is no need to regulate the collection. DOL will undertake rulemaking in order to eliminate the requirement by the time this collection requires renewal.
  Inventory as of this Action Requested Previously Approved
05/31/2000 05/31/2000 11/30/1998
2,072,000 0 2,016,000
1 0 1
0 0 0

Section 7(e)(3)(b) of the Fair Labor Standards Act permits the exclusion from an employee's regular rate of pay for payments on behalf of an employee to a "bona fide" thrift or savings plan. Regulations 29 CFR part 547 set forth the requirements for a bona fide thrift or savings plan.

None
None


No

1
IC Title Form No. Form Name
Bona Fide Thrift or Savings Plan -- 29 CFR Part 547

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 2,072,000 2,016,000 0 56,000 0 0
Annual Time Burden (Hours) 1 1 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
09/22/1998


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