Acquisition and Sale of Trust REIT Shares by Individual Account Plans Sponsored by Trust REITs

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
PTEREITss09.doc	Supporting Statement A	Uploaded 2009-07-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
43801	Acqusition and Sale of Trust REIT Shares by Individual Account Plans Sponsored by Trust REITs	Other-PTE 2004-07	Modified

ICR Details

OMB Control No: 1210-0124	ICR Reference No: 200907-1210-007
Status: Historical Active	Previous ICR Reference No: 200606-1210-005
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Acquisition and Sale of Trust REIT Shares by Individual Account Plans Sponsored by Trust REITs
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: 08/31/2009
	Date Received in OIRA: 07/30/2009
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2012	36 Months From Approved	08/31/2009
Responses	79,800	0	104,545
Time Burden (Hours)	3,990	0	4,733
Cost Burden (Dollars)	201,894	0	40,000

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Abstract: The class exemption permits individual account pension plans sponsored by Trust Real Estate Investment Trusts (REITs) or their affiliates to purchase, hold, and sell publicly trades shares of beneficial interest in the Trust REIT, subject to conditions.

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Authorizing Statute(s): US Code: 29 USC 1106 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:
	74 FR 17987	04/20/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 38044	07/30/2009
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Acqusition and Sale of Trust REIT Shares by Individual Account Plans Sponsored by Trust REITs

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ICR Summary of Burden

table that charts list 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	79,800	104,545	0	0	-24,745	0
Annual Time Burden (Hours)	3,990	4,733	0	0	-743	0
Annual Cost Burden (Dollars)	201,894	40,000	0	0	161,894	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: There have been no program changes in this exemption since the prior submission; however, the Department has updated estimates underlying the analysis. First, based on new information from National Association of Real Estate Investment Trusts (NAREIT), the number of affected Trusts has declined. Second, labor rates have increased. In addition, the Department has revised the material and postage estimates. The primary reason that the cost estimate is much higher than the previous submission is that the price of mailing the reports has changed. The average length of a quarterly report is about 35 pages, which means that the previous estimation of $0.42 per mailing was too low. Instead, the Department approximates that printing those 35 pages at $0.05 per page would cost $1.75, and that mailing a report would take cost approximately $0.78. Therefore the total cost of sending each report is estimated to be approximately $2.53, and, based on this factor, the total cost burden for the information has increased since the last submission from $158,085 to $305,894.

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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)? No

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: 07/30/2009

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