Notice of Blackout Period Under ERISA

Forms and Documents

Document	Type	Status	Availability
Blackout_PRAss12(20120420).docx	Supporting Statement A	Uploaded 2012-04-20	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
13502	Notice of Blackout Period Under ERISA		Modified

ICR Details

OMB Control No: 1210-0122	ICR Reference No: 201201-1210-004
Status: Historical Active	Previous ICR Reference No: 200904-1210-002
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Notice of Blackout Period Under ERISA
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: 06/28/2012
	Date Received in OIRA: 04/26/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2015	36 Months From Approved	06/30/2012
Responses	6,100,000	0	3,465,447
Time Burden (Hours)	195,800	0	183,342
Cost Burden (Dollars)	1,900,000	0	1,628,760

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Abstract: Pub. L. 107-204 amended section 101 of ERISA to require plan administrators to furnish affected participants and beneficiaries of individual account pension plans with advance written notice of a "blackout period" during which their right to direct or diversify investments or obtain a loan or distributions, may be temporarily suspended.

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Authorizing Statute(s): US Code: 29 USC 1021(i) 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:
	76 FR 76439	12/07/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 24989	04/26/2012
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
Notice of Blackout Period Under ERISA

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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	6,100,000	3,465,447	0	0	2,634,553	0
Annual Time Burden (Hours)	195,800	183,342	0	0	12,458	0
Annual Cost Burden (Dollars)	1,900,000	1,628,760	0	0	271,240	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 Department has revised its estimate, as compared to the 2009 submission, to reflect the current number of defined contribution plans, and the current number of defined contribution plan participants and beneficiaries, and the wage rates for those involved and preparing and distributing the notices. The resulting paperwork burden estimate presents a more accurate, current picture of the impact of this information collection.

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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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 04/26/2012

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