Prohibited Transaction Exemption 86-128

Forms and Documents

Document Name	Status
2008ss pte 86-128 (1210-0059 Broker Dealers).doc Supporting Statement A	2008-08-08

IC Document Collections

IC ID	Document Title	Status
38407	Prohibited Transaction Exemption 86-128 Other-Prohibited Transaction Exemption	Modified

ICR Details

OMB Control No: 1210-0059	ICR Reference No: 200807-1210-005
Status: Historical Active	Previous ICR Reference No: 200509-1210-001
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Prohibited Transaction Exemption 86-128
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/22/2008
	Date Received in OIRA: 08/14/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2011	36 Months From Approved	09/30/2008
Responses	1,168,529	0	593,909
Time Burden (Hours)	59,072	0	104,363
Cost Burden (Dollars)	711,630	0	218,000

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Abstract: PTE 86-128 (as amended) permits persons who serve as fiduciaries for employee benefit plans to effect or execute securities transactions on behalf of employee benefit plans.

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Authorizing Statute(s): US Code: 29 USC 1108 Name of Law: Employee Retirement Income Security Act of 1974
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 21987	04/23/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 47632	08/14/2008
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Prohibited Transaction Exemption 86-128

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ICR Summary of Burden

	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	1,168,529	593,909	0	0	574,620	0
Annual Time Burden (Hours)	59,072	104,363	0	0	-45,291	0
Annual Cost Burden (Dollars)	711,630	218,000	0	0	493,630	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The reduction in the hour burden is attributable to estimating the burden of tracking and preparing transaction information as a cost burden instead of an hour burden. The increase in the cost burden is due to three factors. First, it is no longer assumed that all information would be sent in a single mailing. Second it is now assumed that 60 percent of plans receive the quarterly report instead of the confirmation slip. Third, previously there was no cost burden allocated for collecting the required plan information, but now there is.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 08/14/2008

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