Alternative Method of Compliance for Certain Simplified Employee Pensions

Forms and Documents

Document	Type	Status	Availability
SS SEPsAltComp - 12-16-2014.docx	Supporting Statement A	Uploaded 2014-12-16	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
13328	Alternative Method of Compliance for Certain Simplified Employee Pensions		Modified

ICR Details

OMB Control No: 1210-0034	ICR Reference No: 201411-1210-001
Status: Historical Active	Previous ICR Reference No: 201102-1210-003
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Alternative Method of Compliance for Certain Simplified Employee Pensions
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 with change	Conclusion Date: 12/23/2014
	Date Received in OIRA: 11/21/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2017	36 Months From Approved	12/31/2014
Responses	68,000	0	68,000
Time Burden (Hours)	21,000	0	21,000
Cost Burden (Dollars)	25,000	0	23,000

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Abstract: Section 110 of the Employee Retirement Income Security Act (ERISA) authorizes the Secretary of Labor to prescribe alternative methods of compliance with the reporting and disclosure requirements of Title I of ERISA for pension plans. The Department's regulations at 29 C.F.R. § 2520.104-49 provide an alternative method of disclosure for sponsors of certain types of Simplified Employee Pensions that is easier to comply with than otherwise required under ERISA.

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Authorizing Statute(s): US Code: 29 USC 1030 Name of Law: Employee Income Retirement 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:
	79 FR 29208	05/21/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 69530	11/21/2014
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
Alternative Method of Compliance for Certain Simplified Employee Pensions

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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	68,000	68,000	0	0	0	0
Annual Time Burden (Hours)	21,000	21,000	0	0	0	0
Annual Cost Burden (Dollars)	25,000	23,000	0	0	2,000	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:

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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: 11/21/2014

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