60-day FRN (1210-0111) published

60-day FRN (1210-0111) published.pdf

Prohibited Transaction Class Exemption 1998-54 Relating to Certain Employee Benefit Plan Foreign Exchange Transactions Executed Pursuant to Standing Instructions

60-day FRN (1210-0111) published

OMB: 1210-0111

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Federal Register / Vol. 85, No. 83 / Wednesday, April 29, 2020 / Notices

Loss Report. Some sections of the form
were reformatted and additional fields
were included, to improve user
experience when reporting theft or loss
of inventory. The proposed information
collection (IC) is also being published to
obtain comments from the public and
affected agencies.
DATES: Comments are encouraged and
will be accepted for 60 days until June
29, 2020.
FOR FURTHER INFORMATION CONTACT: If
you have additional comments,
regarding the estimated public burden
or associated response time,
suggestions, or need a copy of the
proposed information collection
instrument with instructions, or
additional information, please contact:
Neil Troppman, ATF National Tracing
Center either by mail at 244 Needy
Road, Martinsburg, WV 25405, by email
at [email protected], or by
telephone at 304–260–3643.
SUPPLEMENTARY INFORMATION: Written
comments and suggestions from the
public and affected agencies concerning
the proposed collection of information
are encouraged. Your comments should
address one or more of the following
four points:
—Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
—Evaluate the accuracy of the agency’s
estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
—Evaluate whether and if so how the
quality, utility, and clarity of the
information to be collected can be
enhanced; and
—Minimize the burden of the collection
of information on those who are to
respond, including through the use of
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms
of information technology, e.g.,
permitting electronic submission of
responses.
Overview of this information
collection:
1. Type of Information Collection
(check justification or form 83):
Revision of a currently approved
collection.
2. The Title of the Form/Collection:
Federal Firearms Licensee Firearms
Inventory Theft/Loss Report.
3. The agency form number, if any,
and the applicable component of the
Department sponsoring the collection:
Form number (if applicable): ATF
Form 3310.11.

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Component: Bureau of Alcohol,
Tobacco, Firearms and Explosives, U.S.
Department of Justice.
4. Affected public who will be asked
or required to respond, as well as a brief
abstract:
Primary: Business or other for-profit.
Other (if applicable): Federal
Government.
Abstract: The Federal Firearms
Licensee Firearms Inventory Theft/Loss
Report—ATF Form 3310.11 is used by
federal firearms licensees (FFLs) to
report theft or loss of inventory or
collection to the Attorney General and
other appropriate authorities.
5. An estimate of the total number of
respondents and the amount of time
estimated for an average respondent to
respond: An estimated 4,000
respondents will utilize the form
annually, and it will take each
respondent approximately 24 minutes to
complete their responses.
6. An estimate of the total public
burden (in hours) associated with the
collection: The estimated annual public
burden associated with this collection is
1,600 hours, which is equal to 4,000 (#
of respondents) * .4 (24 minutes).
If additional information is required
contact: Melody Braswell, Department
Clearance Officer, United States
Department of Justice, Justice
Management Division, Policy and
Planning Staff, Two Constitution
Square, 145 N Street NE, 3E.405A,
Washington, DC 20530.
Dated: April 24, 2020.
Melody Braswell,
Department Clearance Officer for PRA, U.S.
Department of Justice.
[FR Doc. 2020–09087 Filed 4–28–20; 8:45 am]
BILLING CODE 4410–02–P

DEPARTMENT OF LABOR
Employee Benefits Security
Administration
Proposed Extension of Information
Collection Requests Submitted for
Public Comment
Employee Benefits Security
Administration, Department of Labor.
ACTION: Notice.
AGENCY:

The Department of Labor (the
Department), in accordance with the
Paperwork Reduction Act, provides the
general public and Federal agencies
with an opportunity to comment on
proposed and continuing collections of
information. This helps the Department
assess the impact of its information
collection requirements and minimize
the public’s reporting burden. It also

SUMMARY:

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helps the public understand the
Department’s information collection
requirements and provide the requested
data in the desired format. The
Employee Benefits Security
Administration (EBSA) is soliciting
comments on the proposed extension of
the information collection requests
(ICRs) contained in the documents
described below. A copy of the ICRs
may be obtained by contacting the office
listed in the ADDRESSES section of this
notice. ICRs also are available at
reginfo.gov (http://www.reginfo.gov/
public/do/PRAMain).
DATES: Written comments must be
submitted to the office shown in the
ADDRESSES section on or before June 29,
2020.
ADDRESSES: Anja Decressin, Department
of Labor, Employee Benefits Security
Administration, 200 Constitution
Avenue NW, Room N–5718,
Washington, DC 20210, ebsa.opr@
dol.gov, (202) 693–8410, FAX (202)
219–4745 (these are not toll-free
numbers).
This
notice requests public comment on the
Department’s request for extension of
the Office of Management and Budget’s
(OMB) approval of ICRs contained in
the rules and prohibited transaction
exemptions described below. The
Department is not proposing any
changes to the existing ICRs at this time.
An agency may not conduct or sponsor,
and a person is not required to respond
to, an information collection unless it
displays a valid OMB control number. A
summary of the ICRs and the current
burden estimates follows:
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Process for Expedited Approval
of an Exemption for Prohibited
Transaction, Prohibited Transaction
Class Exemption 1996–62.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0098.
Affected Public: Not-for-profit
institutions, Businesses or other forprofits.
Respondents: 5.
Responses: 3,515.
Estimated Total Burden Hours: 88.
Estimated Total Burden Cost
(Operating and Maintenance): $20,457.
Description: On April 28, 1975, the
Department Published ERISA Procedure
75–1 in the Federal Register, which
provided the public with information
regarding the procedure to follow when
requesting an exemption. On August 10,
1990, the Department issued a
regulation which replaced ERISA

SUPPLEMENTARY INFORMATION:

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Federal Register / Vol. 85, No. 83 / Wednesday, April 29, 2020 / Notices
Procedure 75–1 for applications for
prohibited transaction exemptions filed
on or after September 10, 1990 (29 CFR
2570.30 et seq.).
On July 31, 1996, the Department
published in the Federal Register,
Prohibited Transaction Class Exemption
96–62 that provides for accelerated
approval of an exemption permitting a
plan to engage in a transaction which
might otherwise be prohibited following
a demonstration to the Department that
the transaction: (1) Is substantially
similar in all material respects to at least
two other transactions for which the
Department recently granted
administrative relief from the same
restriction; and (2) presents little, if any,
opportunity for abuse or risk of loss to
a plan’s participants and beneficiaries.
Under the class exemption, a party may
proceed with a transaction in as little as
78 days from the acknowledgment of
receipt by the Department of a written
submission filed in accordance with the
terms of the class exemption.
In 2002, the DOL amended the
exemption to clarify that it covers
‘‘plans’’ as described in Code Section
4975(e)(1), such as IRAs and Keogh
Plans, and that the scope of the
exemption is not limited to Title I
ERISA covered plans.
Additionally, in 2003 the DOL
amended the exemption to permit
parties to base their submissions on
substantially similar transactions
described either in two individual
exemptions granted within the past 60
months, or in one individual exemption
granted within the last 120 months and
one transaction that received final
authorization under the exemption
within the past 60 months. The
Department has received approval from
OMB for this ICR under OMB Control
No. 1210–0098. The current approval is
scheduled to expire on October 31,
2020.
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Suspension of Pension Benefits
Pursuant to Regulations 29 CFR
2530.203–3.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0048.
Affected Public: Businesses or other
for-profits.
Respondents: 39,457.
Responses: 171,221.
Estimated Total Burden Hours:
132,639.
Estimated Total Burden Cost
(Operating and Maintenance): $46,773.
Description: Section 203(a)(3)(B) of
the Employee Retirement Income
Security Act of 1974 (ERISA) governs

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the circumstances under which pension
plans may suspend pension benefit
payments to retirees who return to work
or to participants who continue to work
beyond normal retirement age. This
section sets forth the circumstances and
conditions under which such benefit
payments may be suspended.
This regulation, which was issued on
January 27, 1981, amended on
December 4, 1981, and corrected on
December 11, 1981, generally describes
the manner and circumstances under
which retirement benefits may be
suspended during periods of
employment subsequent to retirement.
The rule also clarifies that the normal
retirement benefit of a participant who
continues working beyond the plan’s
normal retirement age may also be
considered to be suspended even
though no act of retirement has
occurred.
In order for a plan to suspend benefits
pursuant to the regulation, it must
notify the affected retiree or participant
during the first calendar month or
payroll period in which the plan
withholds payment that benefits are
suspended. Requests for such reviews
may be considered in accordance with
the claims procedure adopted by the
plan pursuant to Section 503 of the Act
and applicable regulations. The notice
must include the specific reasons for
such suspension, a general description
of the plan provisions authorizing the
suspension, a copy of the relevant plan
provisions, and a statement indicating
where the applicable regulations may be
found, i.e., 29 CFR 2530.203–3. In
addition, the suspension notification
must inform the retiree or participant of
the plan’s procedure for affording a
review of the suspension of benefits.
The Department has received approval
from OMB for this ICR under OMB
Control No. 1210–0048. The current
approval is scheduled to expire on
December 31, 2020.
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Employee Retirement Income
Security Act Prohibited Transaction
Class Exemption 1981–8, Investment of
Plan Assets in Certain Types of ShortTerm Investment.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0061.
Affected Public: Businesses or other
for-profits, Not-for-profit institutions.
Respondents: 82,664.
Responses: 413,320.
Estimated Total Burden Hours:
103,330.
Estimated Total Burden Cost
(Operating and Maintenance): $93,770.

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Description: This class exemption
(PTE 81–8), which was granted on
January 23, 1981, exempts from the
prohibited transaction restrictions the
investment of plan assets in certain
short-term investments in debt
obligations issued by certain persons
who provide services to the plan or are
affiliated with such service providers.
PTE 81–8 covers four types of shortterm investments: banker’s acceptances,
commercial paper, repurchase
agreements and certificates of deposit
and contains specific conditions for
each type of investment. PTE 81–8 was
amended on April 9, 1985, to add a new
category of permissible investmentssecurities issued by banks or their
affiliates in cases where the bank is a
party in interest only by reason of the
furnishing of a checking account or
related services (such as clearing and
recordkeeping services) to the list of
acceptable short-term investments in the
existing class exemption. In addition,
PTE 81–8 was amended to expand the
category of sellers with whom the plan
may enter into repurchase agreements to
include dealers in bank acceptances
who report their security positions on a
daily basis to the Federal Reserve Bank
of New York. The Department has
received approval from OMB for this
ICR under OMB Control No. 1210–0061.
The current approval is scheduled to
expire on December 31, 2020.
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Prohibited Transaction Class
Exemption 1998–54 Relating to Certain
Employee Benefit Plan Foreign
Exchange Transactions Executed
Pursuant to Standing Instructions.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0111.
Affected Public: Businesses or other
for-profits.
Respondents: 35.
Responses: 420,000.
Estimated Total Burden Hours: 4,200.
Estimated Total Burden Cost
(Operating and Maintenance): $0.
Description: The class exemption that
is the subject of this submission would
permit certain foreign exchange
transactions between employee benefit
plans and certain banks and brokerdealers that are parties in interest with
respect to such plans. For purposes of
this exemption, a foreign exchange
transaction is the exchange of currency
of one nation for the currency of another
nation. Although the Department
previously granted an exemption for
certain foreign exchange transactions
(PTE 94–20, 59 FR 8022 (OMB Control
Number 1210–0085)), that exemption

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Federal Register / Vol. 85, No. 83 / Wednesday, April 29, 2020 / Notices

designated place by the date specified
above.
Please submit your comments by only
one method. The Department will not
review comments received by means
other than those listed above or that it
receives after the comment period has
closed.
Comments: The Department will
retain all comments on this notice and
will release them upon request via email
to any member of the public. The
Department also will make all the
comments it receives available for
public inspection by appointment
during normal business hours at the
above address. If you need assistance to
review the comments, the Department
Dated: April 23, 2020.
will provide you with appropriate aids
Anja Decressin,
such as readers or print magnifiers. The
Acting Director, Office of Policy and Research, Department will make copies of this
Employee Benefits Security Administration.
notice available, upon request, in large
[FR Doc. 2020–09026 Filed 4–28–20; 8:45 am]
print, Braille, and electronic file. The
BILLING CODE 4510–29–P
Department also will consider providing
the notice in other formats upon
request. To schedule an appointment to
DEPARTMENT OF LABOR
review the comments and/or obtain the
notice in an alternative format, contact
Employment and Training
Ms. Harvey using the information
Administration
provided above. The Department will
retain all comments received without
Program Year (PY) 2020 Workforce
Innovation and Opportunity Act (WIOA) making any changes to the comments,
including any personal information
Allotments; PY 2020 Wagner-Peyser
Act Allotments and PY 2020 Workforce provided. The Department therefore
cautions commenters not to include
Information Grants
their personal information such as
AGENCY: Employment and Training
Social Security Numbers, personal
Administration, Labor.
addresses, telephone numbers, and
ACTION: Notice.
email addresses in their comments; this
information would be released with the
SUMMARY: This notice announces
comment if the comments are requested.
allotments for PY 2020 for WIOA Title
It is the commenter’s responsibility to
I Youth, Adult and Dislocated Worker
safeguard his or her information.
Activities programs; allotments for
FOR FURTHER INFORMATION CONTACT:
Employment Service (ES) activities
WIOA Youth Activities allotments—
under the Wagner-Peyser Act for PY
Sara Hastings at (202) 693–3599; WIOA
2020 and the allotments of Workforce
Adult and Dislocated Worker Activities
Information Grants to States for PY
and ES allotments—Andrew Ridgeway
2020.
at (202) 693–3536; Workforce
DATES: The Department must receive
Information Grant allotments—Donald
comments on the formula used to allot
Haughton at (202) 693–2784.
funds to the Outlying Areas by May 29,
Individuals with hearing or speech
2020.
impairments may access the telephone
numbers above via TTY by calling the
ADDRESSES: Submit written comments
toll-free Federal Information Relay
to the Employment and Training
Service at 1–877–889–5627 (TTY/TDD).
Administration (ETA), Office of
Financial Administration, 200
SUPPLEMENTARY INFORMATION: WIOA
Constitution Avenue NW, Room
allotments for states and the state
N–4702, Washington, DC 20210,
allotments for the Wagner-Peyser Act
Attention: Ms. Anita Harvey, email:
are based on formulas defined in their
[email protected].
respective statutes. WIOA requires
Commenters are advised that mail
allotments for the Outlying Areas to be
delivery in the Washington area may be competitively awarded rather than
delayed due to security concerns. The
based on a formula determined by the
Department will receive hand-delivered Secretary of Labor (Secretary) as
comments at the above address. All
occurred under the Workforce
overnight mail will be considered hand- Investment Act (WIA). However, for PY
delivered and must be received at the
2020, the Further Consolidated

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did not include relief for those foreign
exchange transactions executed
pursuant to the advance written
authorization of a plan fiduciary who is
independent of the bank or brokerdealer engaging in the transaction (a
‘‘standing instruction’’). This
submission covers the information
collection included in the exemption for
foreign exchange transactions executed
pursuant to standing instructions,
which was granted on November 13,
1998. The Department has received
approval from OMB for this ICR under
OMB Control No. 1210–0111. The
current approval is scheduled to expire
on December 31, 2020.

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Appropriations Act, 2020 waives the
competition requirement, and the
Secretary is using the discretionary
formula rationale and methodology for
allocating PY 2020 funds for the
Outlying Areas (American Samoa,
Guam, the Commonwealth of the
Northern Mariana Islands, the Republic
of Palau, and the United States Virgin
Islands) that was published in the
Federal Register at 65 FR 8236 (Feb. 17,
2000). WIOA specifically included the
Republic of Palau as an Outlying Area,
except during any period for which the
Secretary of Labor and the Secretary of
Education determine that a Compact of
Free Association is in effect and
contains provisions for training and
education assistance prohibiting the
assistance provided under WIOA; no
such determinations prohibiting
assistance have been made. The formula
that the Department of Labor
(Department) used for PY 2020 is the
same formula used in PY 2019 and is
described in the section on Youth
Activities program allotments. The
Department invites comments only on
the formula used to allot funds to the
Outlying Areas.
The Department is announcing WIOA
allotments for PY 2020 for Youth
Activities, Adults and Dislocated
Worker Activities, Wagner-Peyser Act
PY 2020 allotments, and PY 2020
Workforce Information Grant
allotments. This notice provides
information on the amount of funds
available during PY 2020 to states with
an approved WIOA Combined or
Unified State Plan, and information
regarding allotments to the Outlying
Areas.
On December 20, 2019, the Further
Consolidated Appropriations Act, 2020,
Public Law 116–94 was signed into law
(‘‘the Act’’). The Act, Division A, Title
I, Sections 106(b) and 107 of the Act
allows the Secretary of Labor (Secretary)
to set aside up to 0.5 percent of each
discretionary appropriation for activities
related to program integrity and 0.75
percent of most operating funds for
evaluations. For 2020, as authorized by
the Act, the Department has set aside
$818,000 of the Training and
Employment Services (TES)
appropriation for evaluations. ETA
reserved these funds from the WIOA
Adult, Youth, and Dislocated Worker
program budgets. Any funds not utilized
for these reserve activities will be
provided to the states. We also have
attached tables listing the PY 2020
allotments for programs under WIOA
Title I Youth Activities (Table A), Adult
and Dislocated Workers Employment
and Training Activities (Tables B and C,
respectively), and the PY 2020 Wagner-

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