Alternative Method of Compliance for Certain Simplified Employee Pensions

Forms and Documents

Document	Type	Status	Availability
SSA SEPsAltComp - 1210-0034 12-8-17.docx	Supporting Statement A	Uploaded 2017-12-08	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: 201709-1210-001
Status: Active	Previous ICR Reference No: 201411-1210-001
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 without change	Conclusion Date: 02/22/2018
	Date Received in OIRA: 12/31/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2021	36 Months From Approved	02/28/2018
Responses	67,930	0	68,000
Time Burden (Hours)	21,227	0	21,000
Cost Burden (Dollars)	18,556	0	25,000

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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 2520.104-49 Name of Law: Employee Income Retirement Security Act of 1974
   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:
	82 FR 23303	05/22/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 153	12/31/2017
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	67,930	68,000	0	0	-70	0
Annual Time Burden (Hours)	21,227	21,000	0	0	227	0
Annual Cost Burden (Dollars)	18,556	25,000	0	0	-6,444	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: In the prior submission the Agency submitted rounded burden estimates, in an effort to convey uncertainty regarding the estimates. The Agency has now determined that unrounded burden estimates provide better public understanding. This change in approach is the cause of the increase in the number of responses and the decrease in the hour burden. The cost burden decreased due to a change in the Agency’s assumptions regarding the usage of electronic methods of transmission.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 12/31/2017

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