Securities Lending by Employee Benefit Plans, Prohibited Transaction Exemption 2006-16

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
PTE 2006-16 ss 8-14-2019.docx	Supporting Statement A	Uploaded 2019-08-14	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
46541	PTE 2006-16 (Securities Lending by Employee Benefit Plans ) - Electronic Disclosures	Other-Prohibited Transaction Class Exemption	Modified
13376	PTE 2006-16 (Securities Lending by Employee Benefit Plans) - Hardcopy Disclosures	Other-Prohibited Transaction Class Exemption	Modified

ICR Details

OMB Control No: 1210-0065	ICR Reference No: 201906-1210-002
Status: Active	Previous ICR Reference No: 201604-1210-002
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Securities Lending by Employee Benefit Plans, Prohibited Transaction Exemption 2006-16
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: 10/07/2019
	Date Received in OIRA: 08/20/2019
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2022	36 Months From Approved	10/31/2019
Responses	1,550	0	1,000
Time Burden (Hours)	297	0	192
Cost Burden (Dollars)	12,765	0	7,200

---

Abstract: PTE 2006-16 permits an employee benefit plan to lend securities to certain broker-dealers and banks and to make compensation arrangements for lending services provided by a plan fiduciary in connection with such securities loans. In the absence of this exemption, some aspects of these transactions might be prohibited under Section 406 of ERISA. The PTE includes conditions that constitute information collections under the PRA.

---

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

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 11573	03/27/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 43164	08/20/2019
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
PTE 2006-16 (Securities Lending by Employee Benefit Plans) - Hardcopy Disclosures
PTE 2006-16 (Securities Lending by Employee Benefit Plans ) - Electronic Disclosures

---

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	1,550	1,000	0	0	550	0
Annual Time Burden (Hours)	297	192	0	0	105	0
Annual Cost Burden (Dollars)	12,765	7,200	0	1	5,564	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: This ICR contains no program changes. Burden estimates were updated to reflect more current data on the membership of the International Securities Lending Association, which are used to inform the assumption of the number of entities using the exemption. Aside from this updated assumption, the Department has updated the burden estimates to reflect current postage rates and the Department’s most recent estimates of labor costs.

---

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

---

Common Form ICR:  No

---

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: 08/20/2019

---